Commercial Vehicle Loan

A Commercial Vehicle Loan is a type of secured loan provided to individuals, proprietors, partnership firms, companies, and fleet owners to buy new or used vehicles intended for commercial use. This loan helps businesses in sectors like logistics, transportation, agriculture, and construction to expand or upgrade their vehicle fleets without bearing the full cost upfront.

Lenders finance a significant portion of the vehicle's cost (usually up to 90%), and the borrower repays the amount through monthly EMIs (Equated Monthly Installments). The vehicle itself serves as collateral until the loan is fully repaid.

These loans are typically available for:

• Trucks

• Tippers

• Tankers

• Buses

• Mini-vans

• Light & Heavy Commercial Vehicles (LCVs & HCVs)

• Auto-rickshaws (for commercial purposes)