Commercial Vehicles Loan in Pune

Commercial Vehicle Loan in Pune: Pune is famous for its automobile manufacturing units. Its seventh largest populated city in India, and second largest in Maharashtra. It’s also well known for its commercial sector. From light to heavy commercial vehicles you will all types of vehicles involved in the transport business. In the city of Pune, commercial vehicle loan can be availed for all varieties of CV, which can be used for all the different locations where your business is expanded. This loan can be availed by customers with diverse profiles. You can make use of commercial vehicle loans for purchase of all kinds of commercial vehicles such as buses, trucks, tippers, as well as light commercial vehicles. You can also get a top-up on the existing commercial vehicle loan. Loans for purchase of Commercial Vehicle can also be availed to obtain working capital for smooth operations of your business. You can easily get commercial vehicle finance effortlessly through easy set of procedures and minimal documentation.

Check Your Eligibility

How banks checks your eligibility

Followings are the factors that are taken into consideration:-

You should be resident of India. You should be between the ages of 21 – 65 years while applying for the commercial loans in Pune. Self employed individual, firms and companies, partnerships organisations can apply for Commercial loans. You should be in business for minimum 2 years. Existing owner of at least two commercial vehicles can apply for Commercial Vehicle Loans in Pune. Existing customers and transporters can also apply for commercial vehicles loan.

Features of commercial vehicles loan in Pune

1. Loan Amount- Applicant can apply for commercial loans in Pune as per his requirement. Banks and NBFC’s finances up to 100% of the chasis value of the vehicle you want to purchase. Hassle free and quick sanction of the loan is available. Minimum TAT is 4 days after completion of documentation.

2. Tenure period: Longest repayment period up to 5 years is offered to the applicant.

3. Mode of repayment: you can choose to repay your loan from various options available such as-

• Electronic clearing system

• Post dated cheques

• Equated monthly instalments

4. Rate of interest: lower and attractive rate of interest is offered to the applicant. Banks lend commercial vehicles loans in Pune @ 12 % to its customers. More over the rate of interest depends on the profile of the customer.

Documents required for Commercial Vehicles

• Age proof

• ID proof

• Application form

• Photograph

• Residence proof

• Income proof

• Current Repayment track

• Work In Hand/Contract Copies.

• Signature verification proof

• Existing Vehicle Ownership proof

• Proforma invoice from the dealer from where you are planning to purchase the CV.