Get a Commercial Vehicle Loan
Capitalize on India's growing logistics and transportation sectors with a Commercial Vehicle Loan from Poonawalla Fincorp. Whether you're a Fleet Owner, first time user, single vehicle owner, Truck Operator, Captive Client, or an Educational Institute, our asset-backed loans can help you purchase new or used commercial vehicles and more. Get up to ₹1 Cr hassle-free loan with quick approval and at an attractive interest rate.
Why Choose Poonawalla Fincorp
High Loan-to-value Ratio
Competitive Interest Rate
Minimal Documentation
Quick Approval
Flexible Repayment Tenure
No Hidden Charges
Meet the simple eligibility criteria to qualify:
- Age: Between 18 and 65 years at the time of loan maturity
- Citizenship: Indian
- Employment: Self-employed non-professionals
- Customer Profile: Individuals, Proprietorship, OPC, Partnership firms, LLP, Companies (Public & Private), HUF, Private Trust, Public Trust & Society
Note: The above-mentioned eligibility criteria are indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
Submit a few necessary documents to successfully apply for a Commercial Vehicle Loan:
- Photo Identity and Address Proof: As per RBI defined KYC guidelines.
- Experience Proof: Driving license, registration copy of commercial vehicle owned, current account statement.
- Income Proof: 6 month's bank statement, ITR/audited financials for the last 2 years.
- Fleet List: List of vehicles owned & supporting documents for the same (wherever applicable).
- Repayment Track (wherever applicable)
Note: The above-mentioned document list is only indicative. Additional documents may be required during loan processing.
Take a look at the interest rate and other charges associated with Commercial Vehicle Loan
Foreclosure charges post 06 months from the date of disbursement - 4% of Principal outstanding + applicable taxes
Foreclosure charges post 06 months from the date of disbursement - 4% of Principal outstanding + applicable taxes
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
- Fleet Owners
- Truck Operators
- First time buyers/Single vehicle owners
- Captive Clients
- Schools and Educational Institutes
Commercial Vehicle: SCV, LCV, ICV & MHCV covering asset type viz. Trucks, Tippers, Trailers, Buses & Body.
Manufacturers: TATA Motors, Ashok Leyland, Volvo Eicher, M&M, Bharat Benz, Maruti, SML Isuzu, Force Motors, Volvo.
Happy Customers, Happy Us
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
Commercial Vehicle Loan
I bought a new commercial vehicle with Poonawalla Fincorp Commercial Vehicle. It was a great experience, the entire process was very easy, quick and hassle-free. The team was not only helpful but explained with complete transparency about this loan. I want to thank everyone for their help and support.
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Frequently Asked Questions
We offer commercial vehicle finance for the purchase of new and used commercial vehicles. We also provide refinancing options for pre-owned vehicles along with balance transfer and top-up options.
The following types of people are eligible for a Commercial Vehicle Loan:
- Individuals
- Proprietorships
- One Person Companies (OPC)
- Partnership firms
- Limited Liability Partnerships (LLP)
- Companies (Public & Private)
- Hindu Undivided Families (HUF)
- Private Trusts
- Public Trusts
- Societies
Poonawalla Fincorp’s Commercial Vehicle Loan offers flexible repayment tenures which may vary from 12 to 60 months, depending upon the customer’s profile and our internal policies.
Poonawalla Fincorp provides finance on Body cost depending on customer profile and internal policies.
Funding is allowed to customers without commercial vehicle ownership. For funding customer without commercial vehicles, the customer should have relevant business experience.
No. Income documents are not compulsory, we may require other details like ownership of vehicles and repayment records.
The requirement for a guarantor/co-applicant is based on our customer’s profile and PFL internal policies.
For Used CV, depending on the profile of customer & asset class, we may fund vehicles with age at end of loan tenure between 8 years to 14 years.
Asset financed must be hypothecated to PFL with endorsement on Invoice, RC and Insurance. Loan cum hypothecation agreement to be signed by the Customer.
No additional collateral is required for Commercial Vehicle Loan. Vehicle financed is the primary collateral.
Funding is allowed to School with minimum student strength of 100 and minimum of 1 year in existence.
Yes, we fund individuals/businesses for captive usage of commercial vehicles for augmenting business.
Yes, Prepayment of the loan is allowed. The same can be availed at a charge indicated on the schedule page of the loan agreement.
No, you cannot sell the vehicle / asset unless your loan account has zero outstanding.