Commercial Vehicle Loan - Cheema Capital | Grow Your Business

Commercial Vehicle Loan Overview

A commercial vehicle loan is a secured loan that helps you finance the purchase of vehicles for your business operations. Whether you need trucks, buses, taxis, or other commercial vehicles, our loan solutions make it easy to expand your fleet without straining your finances.

At Cheema Capital, we offer commercial vehicle loans with competitive interest rates, flexible repayment options, and quick processing to help your business grow and thrive.

Loan Amount

₹3,00,000 - ₹75,00,000

Interest Rate

Starting from 9.50% p.a.

Tenure

Up to 5 years

Processing Time

As quick as 2-3 business days

Features & Benefits

Competitive Interest Rates

Enjoy attractive interest rates starting from just 9.50% p.a. to keep your EMIs affordable.

Flexible Repayment Options

Choose a repayment tenure of up to 5 years to suit your business cash flow.

High Loan Amount

Finance up to 85% of the vehicle's on-road price to minimize your initial investment.

Minimal Documentation

Simple documentation process designed for business owners with quick approval.

No Hidden Charges

Transparent fee structure with no hidden costs or unexpected charges.

Tax Benefits

Avail tax benefits on interest paid and depreciation on the commercial vehicle.

Eligibility Criteria

Age between 25 and 65 years
Business operational for at least 2 years
Minimum annual turnover requirements based on loan amount
Good credit score (preferably 700+)
Indian citizen with valid ID proof
Business registered in India
Should not have any major defaults in the past

Required Documents

Identity Proof (Aadhaar Card, PAN Card, Passport)
Address Proof (Aadhaar Card, Utility Bills, Rental Agreement)
Business Proof (GST Registration, Shop & Establishment Certificate)
Income Proof (ITR for last 2 years, Profit & Loss Statement, Balance Sheet)
Bank Statements for the last 6 months
Proforma Invoice of the vehicle from the dealer
Existing fleet details (if applicable)
Business plan or project report (for large loans)

Application Process

Fill the Application Form

Complete our simple online application form with your personal and business details.
Document Submission

Upload the required documents for verification and processing.
Verification & Credit Assessment

Our team will verify your documents and assess your business creditworthiness.
Loan Approval

Upon successful verification, your commercial vehicle loan will be approved.
Disbursement to Dealer

The loan amount will be directly disbursed to the vehicle dealer, and you can start using the vehicle for your business.

Frequently Asked Questions

What types of commercial vehicles can I finance?

You can finance a wide range of commercial vehicles including trucks, buses, taxis, delivery vans, construction vehicles, and other vehicles used for business purposes. Both new and pre-owned vehicles (up to 5 years old) can be financed.

What is the maximum loan amount I can get?

The maximum loan amount depends on your business profile, repayment capacity, and the vehicle's value. Generally, we finance up to 85% of the on-road price of the vehicle. For established businesses with strong financials, higher loan amounts may be considered.

What is the processing fee for a commercial vehicle loan?

The processing fee typically ranges from 0.5% to 2% of the loan amount, depending on the loan size and your business relationship with us. The exact fee will be communicated to you during the application process.

Can I prepay my commercial vehicle loan?

Yes, you can prepay your loan partially or fully after a specified period (usually 6-12 months from disbursement). A nominal prepayment charge may apply as per the terms of your loan agreement.

Do I need to provide collateral for a commercial vehicle loan?

The vehicle itself serves as the primary collateral for the loan. However, for larger loan amounts or in cases where the business has limited operating history, additional collateral or guarantees may be required.

How long does the approval process take?

The approval process typically takes 2-3 business days after submission of all required documents. For existing customers with good credit history, the process may be expedited.