Small Commercial Vehicle Loan

Small commercial vehicles are categorized as vehicles weighing less than five tonnes GVW. It is ideally suited for short-haul transportation and mainly used to fulfill last mile connectivity. Small commercial vehicles play an important part in the supply chain system as it performs the task of logistics link between Farm – Mandi – Processors – Supermarkets (For Agri Value chain) and Factory – Distributors – Retailers (For other finished goods).

Features

Customer Segment

Captive user with and without ITRs
Prior vehicle ownership with repayment track record
Market load operators
Property based for first time user

Funding

Upto 90% funding

Repayment Tenure

Up to 48 months

Eligibility Criteria & Income Proof

Business registration certificate/6 months bank statement with minimum of 30K outflows per month/TDS certificates
Track record is surrogate proof
Relevant driving license/RC copy of prior commercial vehicle in the name of applicant or co-applicant
Agri land/commercial/residential property proof and relevant Driving License of driver
Residence stability proof (Voter ID/Ration card/Driving License copy etc.)