New Commercial Vehicle &
Construction Equipment Loan

Eligibility

Individuals who are eligible for a New Commercial Vehicle and Construction Equipment loan:

• With experience ranging from 3 to 5 years depending on customer profile
• Minimum 1 year repayment track of commercial vehicles and construction equipment loan or any other loan – up to 50% of a fresh loan request depending on the customer category (Captive-Non Captive)
• Last 2 years’ audited financials – Compulsory in case of Private/Limited Company, Partnership Firms, Trusts and Societies
• Ownership of minimum 2 vehicles/assets from at least 1 year

Keep your documents ready

The following documents are required:

• Age proof
• ID proof
• Application form
• Photograph
• Residence proof
• Income proof
• Current repayment track
• Work in hand/Contract copies
• Signature verification proof
• Existing vehicle ownership proof
• Pro forma invoice

Post-sanction/Pre-disbursement documentation:

• Loan Agreement duly signed along with RTO set
• Post Dated Cheques (PDCs)/ECS Form/Standing Instruction (SI) request
• Margin money receipt
• Insurance cover note