The kind of commercial vehicle loan that can be availed for purchase of commercial vehicles are: Loans for purchase of new commercial vehicle, avail a top-up on an existing commercial vehicle loan, avail a loan for obtaining working capital for ensuring smooth operations of your business set-up. Commercial vehicle loans can be obtained with minimal documents and hassle-free process from your favorite bank almost effortlessly.
Loan Amount: Commercial vehicles in Mumbai can be purchased through 100% finance schemes in your city. The loan amount can be obtained upto 100% of the chasis value of your vehicle. If your documentation is complete your loan can be disbursed within a short span of 3 to 4 working days.
Mode of Repayment: Mode of repayment to pay back the commercial vehicle loans is through either Equated monthly installments, Electronic clearance Services, or through Post dated cheques. You can also design your loan amount – EMI, ROI and Tenure as per your affordability.
Loan Tenure: The loan tenure to payback the commercial equipment loan is around 60 months which absolutely depends on your capacity to payback which you can choose as per your convenience.