A commercial vehicle loan from Policy Hunts offers an ideal solution for anyone who owns a transport business. We offer new and used commercial vehicle loan at attractive interest rates, with a flexible repayment tenure. Experience a hassle-free documentation process, quick processing and swift loan disbursal.
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Commercial Vehicle Loan Features and Benefits
Affordable Interest Rate
You can avail competitive rates and EMIs that are lower than other unsecured loans.
Easy Documentation Process
Available to salaried/self-employed individuals and partnership firms. The application process requires minimal documentation.
Quick Disbursement
Fast-track your car dreams! With our streamlined process, get swift approval for your car loan.
Flexible Tenures
You can avail competitive rates and EMIs that are lower than other unsecured loans.
Accelerate your business with our commercial vehicle loans. From vans to trucks, we've got you covered. Our hassle-free process and flexible terms make acquiring the vehicles you need a breeze. Drive your business forward with confidence. Apply now!
Eligibility Criteria for New Commercial Vehicle Loan
To apply for a New Commercial Vehicle Loan with Policy Hunts, the following eligibility criteria must be met:
- Age: The applicant must be between 21 to 65 years of age.
- Business Type: Both individuals and firms (partnership, proprietary, etc.) are eligible. Your business should have been operational for at least 2 years.
- Income: Proof of income, including ITR or bank statements, is required. You should have a stable income to demonstrate your ability to repay the loan.
- Credit Score: A good credit score (typically above 650) is preferred but not mandatory. We evaluate your creditworthiness based on various factors.
- Business Location: The business must be based in the region where we offer the loan, and we need to assess the business's financials.
The more documents you can provide, the faster and smoother your application process will be.
How to Apply for a New Commercial Vehicle Loan
Applying for a New Commercial Vehicle Loan with Policy Hunts is quick and easy. Follow these simple steps:
- Submit Your Application: Fill out the loan application form on our website or visit your nearest branch. Provide necessary documents like ID proof, address proof, income proof, etc.
- Loan Assessment: Our team will assess your eligibility based on the documents provided. We will also evaluate your business’s financial health.
- Loan Approval: If your application is approved, we will provide the loan amount based on your business needs and eligibility.
- Disbursement: Once all the formalities are completed, the loan amount is disbursed directly to your account or to the vehicle dealer, as per your preference.
Repayment Options for New Commercial Vehicle Loan
Our New Commercial Vehicle Loans come with easy and flexible repayment plans. You can choose from various tenure options to suit your business cash flow. Our loan repayment schedule is designed to help you manage your finances while ensuring that you can comfortably pay off your loan.
- Monthly EMI: Opt for monthly installments with affordable EMIs.
- Part-Payment Option: Pay a lump sum amount towards the principal to reduce your loan balance and lower your monthly EMI.
- Prepayment Flexibility: You can make early payments without any prepayment penalty.
Don’t wait to build your business. Our New Commercial Vehicle Loan offers a range of options that will help you expand your fleet without hassle. Apply today and get the vehicle you need to drive your business forward!
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