Commercial Vehicle Loans in Chennai

Commercial Vehicle Loans in Chennai:
• Commercial Vehicle loans are loans that can be availed for purchase of all kinds of commercial vehicles such as trucks, buses, tippers, light commercial vehicles.
• You commercial vehicle can be financed with a simple and easy process along with minimum documentation and procedures.
• Your commercial equipment loans can be availed for purchase of a new commercial vehicle, used commercial vehicle, purchase of three-wheeler as well as obtaining a top-up on your existing commercial vehicle loans.
• Commercial vehicle loans can also be availed for obtaining working capital for smooth functioning of your business.

Check Your Eligibility

Eligibility Criteria

• Commercial Vehicle loans in Chennai can be availed by any individual, organization, or partnership firm having more than two years of business experience.
• You can also avail commercial vehicles loans if you an existing owner of at least two commercial vehicles.
• Captive customers as well as transporters can also apply for commercial equipment loans.

Loan Amount

Loan amount that can be availed through commercial vehicle finance in Chennai is directly proportional to the customer requirement. However, the same can be availed upto 100% of the chassis value of your vehicle.

Sanctioning

Your commercial vehicle loan can be sanctioned within a short span of 3 to 4 days after all your documents and application has been submitted. Loan sanction time also depends on the nature of loan and the loan amount you wish to apply for.

Repayment

Repayment of your commercial vehicle loans can be done during a loan tenure ranging between 12 to 60 months. However, the repayment of your commercial vehicle loan also depends upon the nature of the commercial equipment loan scheme as well as your repayment capacity. You can choose to repay through Equated Monthly Installment (EMI), Electronic Clearance Service (ECS), and Post-dated cheques (PDCs). You can also choose to make a prepayment of loan depending on the loan term and conditions.

Documents Required

• Address Proof (any one): Passport, Voters ID, Ration Card, etc.
• Experience Proof in the relevant area
• Six Months bank Statement
• Income tax return certificate
• In case of self- employed individual or business men you may be required to submit Financial statements for the last two years
• In certain cases you will be required to submit transportation Contracts for higher quantum of funding.
• You can also apply loan jointly with another co-applicant which can be your blood relatives or your business partner in your partnership firm.

Various stages of Commercial Vehicle loans in Chennai are

• Submission of Application
• Discussions on specific requirements
• Evaluation of your application
• Approval of your loan application
• Documentation
• Completion of formalities
• Disbursement.

How and where to apply for Commercial Vehicle Loans in Chennai

• Commercial Vehicle Loans in Chennai can be availed at Letzbank by simply signing up on the website letzbank.
• On the website you will find you will be able to apply for commercial equipment loans for purchase of a new commercial vehicle, used commercial vehicle, purchase of three-wheeler as well as obtaining a top-up on your existing commercial vehicle loans.
• Your decision to submit an online application on letzbank will help you waive off “Service Fee” applicable on your loan and also help you avail your commercial vehicle loan without much hassle in Chennai. Apply today!