Commercial Vehicle Loans in Hyderabad
• Commercial Vehicle loans in Hyderabad 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.
Although the loan amount that can be availed directly depends on applicant's requirement the funding of commercial equipment can be availed to 100% of the chassis value. The body funding can also be obtained and extended on a special requirement.
• You commercial vehicle loan can be sanctioned within in a span of 3 to 4 days after submission of your application as well as your documents.
• The sanction time also depends on the nature of your loan, loan amount, et.
• You can pay back your commercial vehicle loans with a loan tenure of 12 to 60 months, which depends upon the nature of the commercial equipment loan scheme and your repayment capacity.
• You can pay back your loan through EMI, E C S, and post-dated cheques.
• You can also choose to make a prepayment of loan depending on the loan term and conditions.
• Address Proof such as Passport, Voters ID, Ration Card, et.,
• Experience Proof in the relevant area
• Credit History of loans availed in past
• 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.
• Submission of Application
• Discussions on specific requirements
• Evaluation of your application
• Approval of your loan application
• Completion of formalities