Commercial Vehicle Finance FAQs

This advance is granted to finance purchase of trucks, fleet of trucks, buses, light and small commercial vehicles for the purpose of business of the client.. Loans are thus granted for small, light and heavy commercial vehicles.

Individuals

Partnership and Propreitorships

Private and Public Limited companies

Large and medium fleet owners

Any individual/partnership firm/company with more two years of business experience

Existing owner of at least two commercial vehicles

Captive customers and transporters

The tenor is upto a maximum of 60 months.

Yes, finance is available for used vehicles.

Yes, top up on existing vehicle is also available.

Blood relatives of the individuals, partners in case of partnership firms, Directors in case of private limited companies.

No additional collateral required other than the vehicle/s for which the funding is extended.

Yes, you can prepay your loan. Prepayment charges would be applicable as mentioned in your sanction letter. However, you may partpay your loan anytime without charges.

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