Commercial Vehicle Loan
The new/old Commercial vehicle loan Services provided by us helps the small operators to acquire vehicle with minimum hassle and documentation. We provide customized finance option to suit your needs.
If you are buying your first truck or expanding your existing fleet, we have finance solutions tailored as per your requirement. We at CREDIBLE, offer loans at competitive rates for a wide range of vehicles including buses, trucks, tankers, trailers, light commercial vehicle and small commercial vehicles..
Commercial Vehicle Loan
WE HELP YOU FOCUS
Credible is the “Preferred Finance Coordinator/Consultant” across all major manufacturers in India and thousands of customers have trusted in us for our expertise and perfectly suited loan solutions.
| Particulars | Details |
| Eligible customers | Individuals, proprietorships, companies, partnership firms, trusts and societies |
| Eligible vehicles | Buses, trucks, tippers, trailers, tankers and other light & small commercial vehicles |
| Age Limit | Minimum- 24 Maximum- 65 |
| Quantum | Minimum- Rs.1 lakh Maximum- Rs.5 crore |
| Margin | Up to 100% of the chassis |
| Security | Hypothecated vehicle/Guarantor |
| Approval Duration | 2 to 5 days depending on customer’s profile |
| Interest Rate | 10% p.a. to 15% p.a. |
| Processing Fee | As per bank norms |
| Insurance | Comprehensive insurance at borrower’s cost for entire loan tenure |
| Repayment period | 2-5 years |
| Prepayment | Any time after 6 months with up to 5% of the outstanding amount |
| COMMERCIAL VEHICLE LOANS | New Vehicle Eligible Vehicle Light Small Medium Heavy |
| Basic Documents | Photo ID, residence and sign proof, own house proof, business proof, income documents, bank details for 3 to 6 months, existing vehicle details |
| Legal Entity Proof Documents | partnership deeds, memorandum and articles of association for company |
| Compulsory | Aadhar and PAN card |