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Commercial Loans

New Commercial Vehicle &
Construction Equipment Loan

Drive to a better future with loans for your commercial vehicle and construction equipment needs.

 

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High LTV Ratio

Upto 100% calculated on Net Invoice Value of the vehicle/Asset

Low Interest Rates

Starting at just 10.25%

Maximum Tenure

5 years

Loan for Multiple Needs

Loan can be used to buy different products manufactured by various big and small manufacturers

Features and Benefits

Interest Rates & Charges*
Min Max
Interest Rate 10.25% 15.00%
*(Subject to change as per change in Bank’s Base Rate)
Type and Charges
Sr. No. Type Charges
1 Cheque Bounce / Instrument Return Charges Rs. 500 per instance
2 Cheque / Instrument Swap Charges Rs. 500 per instance
3 Duplicate Statement Issuance Charges Rs. 500 per instance
4 Duplicate Repayment Schedule Issuance Charges Rs. 500 per instance
5 Duplicate No Dues Certificate / NOC Rs. 500 per instance
6 Late Payment Penal Interest 2% per month
7 Loan cancellation / Re-booking Rs. 1,000 per instance
5% of the Principal Outstanding after 180 days from date of disbursement
8 Foreclosure Charges 10 % of the Principal Outstanding up to 180 days from date of disbursement
5% of the Part Payment amount after 180 days from date of disbursement
9 Part Prepayments Charges 10% of the Part Payment amount up to 180 days from date of disbursement
10 Stamp Duty At Actuals
11 Issuance of Credit Report Rs. 50 per instance
12 Processing Fee CV: Rs 5000/- per instance
CE: Rs 0.30% of the loan amount or Rs 10,000/- whichever is less
13 Cancellation Charge Rs 2500/- per instance
14 Documentation charge Rs 500/- per instance
15 RC Collection charge Rs 200/- per instance
16 ROC charge creation fee (Only for company cases) Rs 2500/- per instance
*Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
For further details, please Click Here

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