Loan against Commercial Vehicles

Commercial vehicles are used for transporting men and materials and hence a part of business activities. Bus, Trucks, Tempos, Jeeps, Tippers, Vans, JCB Loaders, etc are the various vehicles used in the business.

Purpose 
To purchase a vehicle for commercial use

Limit : 10 Lac

Loan amount 
The loan amount covers the cost of the vehicle as per invoice body accessories in case of new vehicle and agreement value, subject to maintaining sufficient margin, as prescribed by the Bank from time to time.
90% of Chassis
85% of Body as per Dealer

Period of loan:- 
Maximum period of loan is 84 months in case of new vehicles. Loan amount should be repaid in EMI.

Rate Of Interest:-
Please Contact Your Nearest Branch.

Margin:-
Commercial Vehicle mortgage through RTO.

Security:-
Hypothecation of the vehicle to be purchased.

Guarantee:-
One or Two solvent third parties depending on loan amount
*Condition Apply