Commercial Vehicle Loan

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 –

1. Up to 95% on-road funding
2. Hassle-free loan sanction process
3. Simple documentation and faster decision process
4. Longer loan tenures up to 7 years & moratorium period up to 60 days
5. No hidden charges & complete transparency
6. One-point contact – Dedicated Relationship Manager
7. Competitive pricing

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:

1. Apply online on our website - <link>
2. Call us on our 24-hour customer care - 1800 10888
3. Walk into any of our branches
4. Contact any of our direct sales personnel

While we offer upto 95% 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: 

1. Digital Mandate
2. E Mandate
3. Digital Standing Instruction (in the case of IDFC FIRST Bank account holders)
4. Physical mandate/Physical Standing Instruction

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.