Commercial Vehicle Finance
Get customised financial solutions through a single window for all your commercial vehicle business needs.
- Commercial Vehicle finance on entire range of vehicles starting from small 1.5 ton truck to heavy one to 49 tones GVW (Gross Vehicle Weight)
- Choose amongst 4 types of loans that suit your business requirements.
- Finance up to 100 % for your commercial vehicles.
- Take advantage of some of the best interest rates along with a customized EMI repayment structure.
What are the features of a Commercial Vehicle Loan?
There is no need to shop around anymore for commercial vehicle loan options for buses, tippers, transit mixers or any other heavy, light or small commercial vehicle that your business may require. Choose HDFC Bank's commercial vehicle loans to get the best terms and interest rates.
Types of Commercial Vehicles included in this loan :
- School & College Bus
- Staff Bus
- Small Truck
- Light Truck
- Medium Truck
- Heavy Truck
- Customized Truck
- Milk Tanker
- Water Tanker
- Oil Tanker
- Chemical Tanker
- Petroleum Tanker
- Gas Tanker
- Transit mixers
You can choose to purchase your commercial vehicle from some of the best Indian automobile companies. We provide funding for entire range of commercial vehicles of Tata Motors, Eicher Motors , Volvo, Mahindra Navistar, MAN, AMW, Mahindra & Mahindra, Swaraj Mazda, Bajaj Tempo, Ashok Leyland, etc.
Types of loans offered for Commercial Vehicles:
- Used/Refinance/Re-purchase finance
- Balance Transfer
- Top-Up loans
Why take a Commercial Vehicle Loan from HDFC Bank?
Whatever be your need we have a loan for you. Over the years we have won the trust of our customers and have become market leader in loan products.
Enjoy triple benefits when you take a Commercial Vehicle Loan from HDFC Bank:
- Faster loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
- Competitive pricing – Our loan rates and charges are very attractive
- Transparency – Complete clarity on loan process and No hidden charges. Update on status of loan application at each stage.
What are the benefits of a Commercial Vehicle Loan?
You can avail of the following benefits on our commercial vehicle finance:
- Finance Up to 100% of asset cost
- Up to 48 months tenure for loan
- Customized EMI structure to suit your business needs
- Simpler documentation and quick processing
What are the fees and charges?
|Description of charges||Commercial Vehicles Finance|
|EMI Return charges*||Rs. 550/- per instance|
|Foreclosure/Prepayment Charges*||4 % of POSPoint of Sale (Principle Outstanding) for preclosures with 1 year from 1st EMI|
|2% of POSPoint of Sale (Principle Outstanding) for preclosures after 1 year from 1st EMI|
|Cheque/ECS Swap Charges||Rs. 500/- per transaction|
|Duplicate Amortisation Schedule Charges||Rs. 200/- per schedule|
|Loan Re-schedulement/Rebooking Charges||Rs. 1000/-|
|Duplicate/Special NOC Charges||Rs. 500/- per instance|
|CIBIL Report Charges(on request)||Rs. 50/- per request|
|Stamp Duty||At actuals|
|Late Payment Penalty||2% per month on unpaid EMI|
|Processing fees (Non-Refundable)*||New/Used Loans: up to 1.50% of the Loan Amount|
|Service Charges*||Up to 1.50% of the Loan Amount|
|Valuation charges||Used Vehicles only - At actuals|
|Asset verification charges||At Actuals|
|Legal/Collection/Repossession and Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer.||At Actuals|
|Loan Cancellation||In the event of cancellation of loan, interest charges from disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan. date till refund of disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan. amount will be borne by the customer. Processing Fee, Stamp DutyA tax levied on documents, stamp duty applies to documents like cheques, receipts, licenses and transaction records. are non-refundable charges and would not be waived/refunded in case of loan cancellation.|
Rates offered for loans extended to individual customers - Quarter ended December, 15
|Minimum IRR||Maximum IRR||Average IRR|
Annual Percent Rate(APR) offered for loans extended to individual customers - Quarter ended December, 15
|Minimum APR||Maximum APR||Average IRR|
*Where ever notified Service Tax and other government levies, as applicable, would be charged additionally at the applicable rates
Where can I get a loan for a Commercial Vehicle?
Here is a complete list of HDFC Bank branch locations where you can contact us to know more about our Commercial Vehicle Finance.
|AP||Varghese K John||9393878766|
|East||Kamal Lochan Rao||9331763800|
|North||Rajiv Kumar Sharma||9350013294|
|Tamil Nadu||Munuswamy Sridhar||9382296829|