The balance amount your bank or financial institution can finance.
Commercial vehicle loans are the type of loans which provide usually to self-employed individuals, partnership firms and trusts as well as organisations, etc. Commercial vehicle loan is opted with the purpose of buying vehicles for business or commercial reasons. People who are engaged in the transportation business usually apply for this type of loan for purchasing tankers, tippers, buses, trucks, small or light commercial vehicles.Commercial vehicle loans are the type of loans that provided usually to self-employed individuals, partnership firms and trusts as well as organisations, etc. Commercial vehicle loan is opted with the purpose of buying vehicles for business or commercial reasons. People who are engaged in the transportation business usually apply for this type of loan for purchasing tankers, tippers, buses, trucks, small or light commercial vehicles
If you wish to buy a new commercial vehicle for different business reasons, you need to apply for a new commercial vehicle. A bank or a financial institution will provide you up to 100% funding depending on the chassis or the base frame value of the commercial vehicle. There are certain banks that offer additional funding for the construction of the body of the vehicle in certain cases depending on your profile.
A used or an old commercial vehicle loan is opted by those people who wish to buy any pre-owned or used commercial vehicles. You can get a good amount of finance for an old or a used commercial vehicle. Under this loan, borrowers can expect to get loan for an old or a used commercial vehicle that is up to 15 years old. Usually you will be offered a funding of 90% on the old or used vehicle’s value or depending on the depreciation grid value..
You can apply for a loan on a vehicle that you already own and which is already free from a loan. Here, the banks or commercial vehicle loan can also offer a commercial vehicle loan on an existing commercial vehicle by refinancing depending on the eligibility.
Mentioned below are some of the features of a Commercial vehicle loan:
In case you fulfill the bank’s eligibility criteria, then you can avail a Commercial Vehicle Loan at a low interest rate
Usually the time to process the Commercial Vehicle Loan is quite quick
Most of the banks in India offer commercial vehicle loan without any collateral
Commercial vehicle loan offers the below benefits. This is why you should opt for a commercial vehicle loan:
Commercial Vehicle Loan can be applied by the below categories:
Mentioned below are the documents required for a Commercial Vehicle loan:
Documents for KYC
No, you do not need to show any collateral for security purposes
You very well know that you’ve paid for it but are hoping to never require using it! When you file an insurance claim, you probably have suffered some type of loss or damage that is insured by your Insurer. This is when your Insurer offers you coverage and compensation for the losses covered or for the damages after validating your claim. So it is vital to be familiar with the claim process to avoid any headache at the later stage.
You may have bought an insurance policy, yet have thousands of queries and doubts. Our ‘Your Policy’ section is the fastest way to resolve your insurance related doubts and queries. All you need to do is attach your active insurance policy and write to us about your queries. We never let our customers down.
Many questions may come in your mind before deciding on the Loan. ‘How much Loan I would need, how many years I shall invest for, what would be the EMI’s, etc. Loans Calculators are life-savers. They help you know your needs and assess the potential costs. Grey Font brings to you various Loans Calculators and interactive tools to help you calculate your needs. In order to get better results, ensure to enter a value in all the possible fields.
Buying Car insurance policy? Know about the benefits and factors Of Owning A Comprehensive Car Insurance Plan.
Health Insurance Terminology - Knowing health insurance terms and definations that will help you select the best health insurance plan for .you and your family. Read now!
Learn about the Life insurance choices for young adults 30 and also know life insurance tips for people under 30.
We all know how unpredictable life is,one of those harsh realities of life.Read on the reasons why you must not delay to buy a term insurance and should therefore buy when young.
Life insurance riders are add-ons that offer an extra touch of benefit over your basic policy and also act as waivers of premium. Learn more about Life insurance riders here.
Couples caught in the bliss of marriage are prone to hold joint assets read the following modifications and necessity made in the Insurance Policy.