Commercial Vehicle Loans
DCB offers loans for purchase of both new and
used commercial vehicles. The commercial vehicles
loans offer the best terms with easy and simple
documentation and attractive rates of interest,
at your doorstep. Apply now and our representative
will soon get in touch with you.
Overview
We offer following types of commercial vehicle
loans:
- Purchase of new commercial vehicles
- Purchase of used commercial vehicles
- Refinance against existing free commercial
vehicles to take care of your working capital
requirements
- Balance transfer from your existing financier
We extend loans for both new and used; medium
and heavy commercial vehicles including buses,
trucks, trailers, tippers etc. We also extend
refinance against light commercial vehicles. We
provide loans for vehicles manufactured by Telco,
Ashok Leyland, Volvo etc.
Features
- Upto 100% finance available
- Tenure of upto 60 months
- Easy and simple documentation
- Quick processing
- Door step services
- Flexible financing solutions
- Working capital facility also available for
large fleet operators
Eligibility
- Any individual / partnership firm / company
with more than 2 years business experience
- Funding extended to transporters, captive
consumers and bus operators
Service Charges
Description
of charges |
Commercial
vehicle loans |
Loan processing fees |
1% of loan amount or Rs. 1000/- whichever
is higher |
Cheque bounce charges |
Rs. 500 |
Foreclosure charges |
4% on the principal outstanding |
Stamp Duty |
At actuals |
Late payment charges |
3% per month
|
Cheque swap charges |
Rs. 500/- |
Valuation charges |
For used vehicles at actuals |
Note:
- The interest rates are fixed
for the tenure of the contract and are calculated
on a reducing basis.
- Service Tax and other
govt. taxes, levies, etc. applicable as per
prevailing rate will be charged over and above
these charges
Documentation
The following documents are required to be submitted
for availing the loan:
- Proof of Address e.g. Passport, Ration Card,
Voters ID
- Proof of Experience in the relevant area
- Bank Statement
- Track Record of past loans
- ITR in case of certain category of customers
- Financial statements for the last two years
- Copies of contracts
Locations
Currently commercial vehicles loans from DCB
are available at the following locations:
- Mumbai
- Pune
- Ahmedabad
- Delhi
- Jaipur
- Chandigarh
- Bangalore
- Chennai
- Hyderabad
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