Commercial Vehicle Loans
A smart investment decision is not just limited to the return but also involves a smart choice of loan. Your investment in a commercial vehicle whether old or new is a valuable investment of your money so be wise and choose the right kind of loan before you make your final call.
- Share Capital for regular members
- Individual/H.U.F./ Proprietorship/Partnership/Firm/company
- Borrower should be 21 years or more of age but below 60 years of age
- Should have minimum 3 years of experience in the transportation sector
- Self owned residential unit
- Period of Finance is up to 5 years
- Maximum loan amount cannot exceed 80% of ex-showroom price for new vehicles; 80% of the current evaluation of the vehicle’s value as per approved valuer of the bank.
- ID and Address Proof
- Existing Track record
- Income viability sheet
- Balance sheet and other supporting financials
- Insurance of the financed vehicle is mandatory