Funding for all types of Commercial Vehicles Trucks Buses Tippers and Light Commercial Vehicles. Funding for purchase of New Vehicles Finance on used vehicles & top up on existing loans.

Eligible Borrower :

  • Any individual / partnership firm / company with more than 2 yrs of business experience
  • Existing owner of at least two commercial vehicles & first time users/buyers
  • Captive customers and transporter

Product variants :

  • M&HCV: Medium & Heavy Commercial Vehicle
  • ICV: Intermediate commercial vehicle
  • LCV: Light Commercial Vehicle
  • SCV: Small Commercial Vehicle
  • Bus
  • Body Funding

Key Features :

  • Age: Min 18 Years to Max 65 Years at the end of loan tenure
  • Loan Amount: Rs.1 Lacs onwards (subject to eligibility conditions being met) Assessment Based on Post funding free to fleet ratio & viability
  • Experience: Min 2 Years
  • LTV: Up to 100% of chassis value
  • Rate of Interest: 9.00% onwards
  • Loan Tenure: Up to 4 years (can be extended to 5 years on case to case basis)
  • Processing Fees: 2% of the loan amount + service tax as applicable
  • Foreclosure Charges: 4% of the outstanding amount + applicable taxes
  • Co-Applicant / Guarantor: Required on cases to case basis

Documentation :

  • Application Form
  • KYC Documents: Identity Proof, Residence Proof, Latest Photograph, Signature Verification, Proof of Contact ability
  • Proof of Experience
  • Proof of Stability Residence / Office.
  • Fleet List (supported by copies of RC Book)
  • Latest 6 months bank statement
  • Track Record with financiers for CV loans already availed
  • Trade references from – At least 2, to be taken from Principals, Suppliers, Business Associates, people in same trade, tyre dealers

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