The commercial vehicle loan product can be availed to purchase commercial vehicles which include Oil Tankers, LPG Bullet Tankers, Multi-Axle Vehicles, Passenger Vehicles, Buses, Rig Units, JCB, Bulldozers’, Road Rollers, Poclain Units, Harvesters and earth movers etc.
Term Loan with monthly repayment mode
For purchase of commercial vehicles
Repayable in 72 monthly instalments (maximum)
Individuals, Proprietorships, Partnerships, Private & Public Limited Companies
The applicant should be well-established transport operators / individuals belonging to a family well established in the transport business
Agriculturist and Civil Contractors are also eligible for availing loans under the scheme for purchase of Rig Units, JCBs, Road-rollers, Poclain Units, etc.
First Time Operators/First Time Users and Single Vehicle owners are also eligible.
a) KYC documents of the applicant, Promoters & Guarantors
b) Quotations / Invoices for purchase of vehicles
c) Driving license copy of the applicant (for individual borrowers)