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
To avail a Commercial Vehicle Loan, applicants must meet the following eligibility criteria:
- Age: Minimum 18 years and maximum 65 years at the time of loan maturity.
- Citizenship: Indian
- Employment: Self-employed non-professionals.
- Customer Profile: Individuals, Proprietorship, OPC, Partnership firms, LLP, Public and Private Companies, HUF, Private Trust, Public Trust, and Society.
Note: The listed eligibility criteria are indicative and may vary based on the applicant, the customer's profile, and internal assessment during loan processing by Poonawalla Fincorp.
Submit the following required 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, or current account statement.
- Income Proof: Six months’ bank statement and ITR or audited financials for the last two years.
- Fleet List: List of commercial vehicles owned, along with supporting documents, wherever applicable.
- Repayment Track Previous repayment history, wherever applicable.
Note: The above-mentioned document list is indicative. Additional documentation 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
- You can get a Commercial Vehicle Loan if you are a:
- Fleet Owners
- Truck Operators
- First-time buyers/Single vehicle owners
- Captive Clients
- Schools and Educational Institutes
Here are the types of commercial vehicle and manufacturers:
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.
Get Funds Quickly With
Minimal
Documentation
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.
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 financing to purchase new and second-hand commercial vehicles. We also offer refinancing of second-hand purchases, as well as balance transfers and topping-ups.
A Commercial Vehicle Loan can be availed by individuals, proprietorships, partnership firms, and Companies, including both Public and Private entities.
Poonawalla Fincorp funds the vehicle body cost depending on the customer profile and internal policies.
For used commercial vehicles, depending on the customer’s profile and asset class, vehicles may be funded with an age of 8 years to 14 years at the end of the loan tenure.
Can I sell the vehicle before I repay the car loan?
Do I need to provide any collateral for this loan?
The requirement for a guarantor/co-applicant is based on our customer’s profile and PFL internal policies.
No. Income documents are not compulsory; we may require other details like ownership of vehicles and repayment records.