Unlock Best Heavy Vehicle Loan Offers From Top Lenders
Making the Process Easier, So You Can Get Your First heavy vehicle loan!
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
About heavy vehicle loan
The loans are designed to help individuals or businesses who cannot afford to purchase a heavy vehicle outright to finance the purchase. The loan amount can cover up to 90% of the cost of the vehicle, with the borrower being required to pay the remaining 10% as a down payment. The loan amount, interest rate, and repayment terms may vary depending on the lender and the borrower's creditworthiness.
Heavy vehicle loans are available to both salaried and self-employed individuals, and the loan tenure may range from one year to five years. The borrower is required to repay the loan in equated monthly installments (EMIs), which consist of both the principal and the interest component.
Overall, a heavy vehicle loan is a financing option that can help individuals or businesses purchase the heavy vehicles they need to operate and grow their businesses.
Age: You must be at least 21 years old to be eligible for a heavy vehicle loan in India.
Employment: You must be either salaried or self-employed to be eligible for a heavy vehicle loan in India.
Income: Your minimum monthly income must be at least INR 15,000 for a heavy vehicle loan. ( may vary depending on the lender and the loan product.)
Note: Eligibility Criteria may vary depending on the lender and the loan product
Income proof: You will need to provide salary slips or income tax returns (ITR) to prove your income.
Bank statement: You will need to provide a bank statement for the past six months.
Vehicle details: You will need to provide details of the vehicle you intend to purchase, including its price and registration documents.
Additionally, you may be required to provide other documents as per the lender's requirements