Commercial Vehicle Finance

Get customised financial solutions through a single window for all your commercial vehicle business needs.

Features

  • 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.

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Benefits

  • Finance up to 100 % for your commercial vehicles.
  • Take advantage of some of the best interest rates along with a customized EMI repayment structure.

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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 :

  • Buses
    • Intracity
    • Intercity
    • School & College Bus
    • Staff Bus
  • Trucks
    • Small Truck
    • Light Truck
    • Medium Truck
    • Heavy Truck
    • Customized Truck
  • Tankers
    • Milk Tanker
    • Water Tanker
    • Oil Tanker
    • Chemical Tanker
    • Petroleum Tanker
    • Gas Tanker
  • Tippers
  • Transit mixers
  • Tempos

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:

  • New
  • 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 chargesCommercial Vehicles Finance
EMI Return charges* Rs. 550/- per instance
Foreclosure/Prepayment Charges* 4 % of POS (Principle Outstanding) for preclosures with 1 year from 1st EMI
  2% of POS (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 disbursement date till refund of disbursement amount will be borne by the customer. Processing Fee, Stamp Duty  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 IRRMaximum IRRAverage IRR
9.35% 18.48% 11.57%

Annual Percent Rate(APR) offered for loans extended to individual customers - Quarter ended December, 15

Minimum APR
Maximum APRAverage IRR
9.35% 18.60% 12.61%

*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.

Region/StateNameContact Number
AP Varghese K John 9393878766
East Kamal Lochan Rao 9331763800
Karnataka Ramanjulu Achunala 9342377458
Kerala Anil Kuttappan 9388318005
North Rajiv Kumar Sharma 9350013294
Tamil Nadu Munuswamy Sridhar 9382296829
West Vijay Prasad 9377333616

For more details, write into us at Monisha[dot]Rajani[at]hdfcbank[dot]com

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