Commercial Vehicle Finance
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Overview
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Most Important Terms and Conditions (MITC)
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Interest Rates and Charges
Commercial Vehicle Finance : Overview
Commercial Vehicle Finance Scheme provides hassle-free term loans for the purchase of new commercial vehicles to First Time Buyers, Existing Fleet Operators and Captive users.
Commercial Vehicle Finance : Most Important Terms and Conditions (MITC)
Eligibility
- Individual / Proprietorship firm / Partnership Firm / Company engaged in transportation and others for captive use.
Key Features
- Faster loan - Our loan sanction and disbursal is one of the quickest. We provide hassle-free documentations.
- No Collateral Required
- No need for existing Relationship
- Standalone Sanction process for the existing borrowers
- Simplified loan assessment method
- No hidden charges.
Loan Amount
- Up to Rs. 30 crores
Loan Tenure
- Up to 5 years
Margin
- Loans up to 100% on chassis (ex-showroom price) and loan up to 60% on the body.
- Loan up to 95% on fully built vehicles.
Commercial Vehicle Finance : Interest Rates and Charges
- Concessional & Competitive Rate of Interest
- Concessional One Time Processing Fees
(For MSME’s interest rate is linked to the Repo Rate (BRLLR). Other enterprises interest rate is linked to yearly MCLR)
