Know About Your Commercial Vehicle Loan:

A Commercial Vehicle Loanis a type of financing that allows individuals to purchase a vehicle by borrowing money from a financial institution. This form of secured loan typically involves the borrower making a down payment and repaying the borrowed amount, along with interest, through monthly installments over a specified period. The car serves as collateral for the loan, and once the repayment is complete, ownership of the vehicle is transferred to the borrower. Car loans provide a convenient and structured way for individuals to acquire a vehicle without the need for a large upfront payment. Terms, interest rates, and eligibility criteria may vary among lenders.


FAQs

How is the interest charged/calculated for Loan for Commercial Loan?

Interest is charged on a flat rate based on the scheme applicable for the particular product.

What are the eligibility criteria for availing Insure BorrowSafe Commercial Vehicle Loan?

Interest is charged on a flat rate based on the scheme applicable for the particular product.

How do I approach For Commercial Vehicle Loan?

You can approach us by applying online or by calling our number given below.

What documents do I need to submit to avail a Commercial Vehicle Loan?

To avail of a commercial vehicle loan, you will have to submit the following documents: Proof of address, e.g., passport, ration card, voter ID Proof of experience in the relevant area Track record of past loans, if availed. Bank Statement ITR in the case of a specific category of customers Additional documents, like the financial statements for the last two years Transportation contracts are to be submitted for a higher quantum of funding.