Commercial Vehicle Loan - Business (2024)

COMMERCIAL VEHICLE LOAN

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Commercial Vehicle Loan - Business (1)

Commercial Vehicle Loan - Business (2)

COMMERCIAL VEHICLE LOAN
  • Features
  • Eligibility
  • Collateral Security

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Objective/ Purpose

  • To finance new commercial vehicles, Electric vehicles, Hybrid commercial vehicles, CNG vehicles, Ambulances and Caravan Vehicles (Specially built for the purpose of travel, leisure and accommodation).

Features

  • Target Group:
    • Transport Operators, Tour Operators, Travel Agencies, Business Enterprises, Contractors, Captive Users, Warehouse Owners, Logistics provider, Hospitality Sector, First Time Buyers with experience in related activities.
  • Facilities Available : Term Loan
  • Quantum of Loan :
    • Minimum: Rs.10.00 lakhs.
    • Maximum: Rs.50.00 Lakhs.
  • Pricing : Competitive pricing linked to EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%)
  • Borrower's Margin / Contribution : 15% on on-road price
  • Repayment Period :
    • For Commercial Vehicle: Maximum 84 months. Moratorium: Up to 6 months.
    • For Electric Vehicle : Maximum 48 months. Moratorium: Up to 6 months. Repayment on EMI basis. Negotiated repayment can be done depending on cash accruals.
  • Processing Fee/ Upfront Fee : 0.50% of the loan amount + GST.
  • Other Charges: 5% p.a. over and above the existing rate of interest on overdue amount for the period of default
  • Collateral Security :

    Loans will be covered under CGTMSE.
    Guarantee fee to be borne by the borrower.

  • Special Feature :Eligibility Criteria:
    • Minimum 2 years of experience in transport industry/ Hospitality Industry and other related business enterprise/ activities.
    • Satisfactory track record with existing banks/FIs.
    • Income Tax Assessee (personal & Business).
    • MSMEs should be registered in UDYAM portal and should have Udyam Registration Certificate.

Eligibility Criteria

  • Minimum 2 years of experience in transport industry/ Hospitality
  • Industry and other related business enterprise/ activities.
  • Satisfactory track record with existing banks/FIs.
  • Income Tax Assessee (personal & Business).
  • MSMEs should be registered in UDYAM portal and should have Udyam Registration Certificate.
  • First time users may also be considered as a special case.

Collateral Security

Nil

Loans will be covered under CGTMSE. Guarantee fee to be borne by the borrower.


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Last Updated On : Thursday, 08-02-2024

Commercial Vehicle Loan - Business (3)

Interest Rates

8.40%* p.a.

w.e.f. 01.09.2023

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Start From

11.15% p.a.*

*T&C Apply.

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2.70% p.a.

less than Rs.10 Cr. w.e.f 15.10.22

3.00% p.a.

Rs.10 Cr. and above w.e.f 15.10.22

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SEE PRODUCTS APPLY NOW

Starts From 8.75%*

SBI Gold Loan

*T & C Apply

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8.15% p.a.*

*T&C Apply.

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8.85% p.a.

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7.00%

2 years to less than 3year

6.50%

5 years and up to 10years

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Onwards

7% p.a.*

*T&C Apply.

View All

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Commercial Vehicle Loan - Business (37)
Criteria

  • Features
  • Eligibility
  • Terms and Conditions

Commercial Vehicle Loan - Business (38)

Interest Rates

8.40%* p.a.

w.e.f. 01.09.2023

View All

SEE PRODUCTS APPLY NOW

Start From

11.15% p.a.*

*T&C Apply.

View All

SEE PRODUCTS APPLY NOW

2.70% p.a.

less than Rs.10 Cr. w.e.f 15.10.22

3.00% p.a.

Rs.10 Cr. and above w.e.f 15.10.22

View All

SEE PRODUCTS APPLY NOW

Starts From 8.75%*

SBI Gold Loan

*T & C Apply

View All

SEE PRODUCTS APPLY NOW

2.70% p.a.

Balance below Rs. 10 crs

3.00% p.a.

Balance Rs. 10 crores and above

View All

SEE PRODUCTS APPLY NOW

8.15% p.a.*

*T&C Apply.

View All

SEE PRODUCTS APPLY NOW

8.85% p.a.

View All

SEE PRODUCTS APPLY NOW

7.00%

2 years to less than 3year

6.50%

5 years and up to 10years

View All

SEE PRODUCTS APPLY NOW

Onwards

7% p.a.*

*T&C Apply.

View All

SEE PRODUCTS APPLY NOW

Quick Links

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Commercial Vehicle Loan - Business (2024)
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