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A commercial vehicle loan is taken by an individual or institution to fund the purchase of commercial vehicles.
We offer commercial vehicle finance for the purchase of new and used commercial vehicles. We also provide refinancing options for pre-owned vehicles. We have balance transfer options too and much more.
Refinance on commercial vehicle is a facility through which businessmen can get a loan on their existing commercial vehicle. It allows them to get instant funds for any business need.
The finance for body construction is extended depending upon customer’s profile and our internal policies.
We offer our Commercial Vehicle Loan to any individual, proprietorship concern, partnership firm, companies (private limited & public limited), one person company, Limited Liability Partnership, trusts, societies & HUF.
The commercial vehicle loan interest rate is charged on a fixed rate basis and is dependent on the applicable scheme for a particular product.
The requirement for a guarantor/co-applicant is based on our customer’s profile and our internal policies.
No additional collateral is required for Commercial Vehicle Loan. Vehicle financed is the primary collateral. However in case of Refinance on Commercial Vehicle, the vehicle on which the financing is extended is considered as collateral.
IDFC FIRST Bank's Commercial Vehicle Loan comes loaded with many exciting features like –
There are many ways to avail a commercial vehicle loan from IDFC FIRST Bank. Here’s a list of the many ways you can do so:
While we offer upto 100% on road funding, our loan amount is dependent on our customer’s profile and our internal policies.
IDFC FIRST Bank Commercial Vehicle Loan offers flexible repayment tenure which may vary from 12 to 84 months, depending upon customer’s profile and our internal policies.
We offer various repayment modes for your Commercial Vehicle Loan including:
Yes, Prepayment of the loan is allowed. The same can be availed at a charge indicated on the schedule page of the loan agreement.
No, you cannot sell the vehicle / asset unless your loan account has zero outstanding.