Commercial Vehicle Finance


If you’re thinking of purchasing new commercial vehicles or expanding your existing fleet, you can apply for a Tata Capital Commercial Vehicle Loan and meet your financial obligations with ease.
We provide commercial vehicle loans for purchasing both new and used commercial vehicles, such as buses, trucks, pickups etc.
Commercial vehicle finance can be availed by individuals who need a commercial vehicle for their occupation, such as a milkman, trucker, captive user.
Tata Capital’s Commercial Vehicle Finance can enable you to purchase, upgrade, or replace your commercial vehicles easily and economically. You can take a loan to purchase or lease new vehicles and repay the amount in Equated Monthly Instalments or EMIs. We provide commercial vehicle loans to a range of beneficiaries, including individuals, small and medium-sized enterprises (SMEs), and large organisation.
(i) Default in payment of interest and/or principal amounts @ 36% p.a. on the defaulted amount
(ii) Dishonour Charges: Rs. 670/- (Rupees Six Hundred and Seventy only) for every Cheque/ Payment Instrument/ ECS Dishonour.
(iii) Non-creation/perfection of security: @ 2% on the outstanding principal amount will be charged for the period of delay in respect of delayed/non-submission of security/collateral related documents and non-perfection of security.
* GST, other government taxes and levies as applicable, will be payable on all
charges)
As per Sanction Letter
Rs. 1250/- (Inclusive GST)
As per actuals
As per actuals
As per actual
As per Sanction Letter
Rs 5,000/-
New CV- 0.1% to 1.1%
Used CV- 1.25% to 2% (Minimum Rs. 10,000/- for MHCV, Rs. 7500 for ILCV and Rs. 5000/- for SCV)
As per actuals
As per Sanction Letter
4% of outstanding or Rs. 5000/- which is higher (Excluding GST)
Rs 5,000/-
Rs 500/- each time PDC/ECS/ Auto debit are swapped.
4% of the future principal outstanding loan or Rs 5,000/- whichever is high along with applicable taxes.
A prior notice of 30 days to be provided to TCL for any such prepayment
Actual expenses incurred upto Rs.1,00,000/-
LCV/SLCV/ICV- Rs. 100/- (Exclusive GST)
CE-Rs. 150/- (Exclusive GST)
Tractor-Rs. 90/- (Exclusive GST)
HCV/MHCV- Rs. 150/- (Exclusive GST)
As per actuals
Rs. 1500/- per month for each asset (Inclusive GST)
As per actuals
As per actuals
Rs 500
SMA-2 & Above: 0-4.15% of amount collected against overdue
Rs.0 to Rs.720 depending on product/ channel/account classification
Branch walk-in – Rs. 105 per instance per contract
Customer portal - Nil (digital copy)
Rs. 1500/- per month for each asset
All Rates and Charges shall be revised basis internal policy of TCL, and in terms with the Facility Documents.
Looking to purchase new commercial vehicles for your business or expand your existing fleet? Apply for Tata Capital’s Commercial Vehicle Finance and meet all your requirements without any hassles. Below are the salient features of our commercial vehicle loans that make them a useful option:
Below are a few reasons why you should opt for Tata Capital’s Commercial Vehicle Loan to finance your purchase of business vehicles:
Features of New Commercial Vehicle Finance | Features of Used Commercial Vehicle Finance |
---|---|
Loans and provided for entire range of |
Re-finance |
Minimum documents | Top up |
Fast TAT for disbursal of loan | Repurchase |
On road funding available | Balance Transfer |
At Tata Capital, we provide commercial vehicle finance to a wide range of customers, including:
The precise eligibility criteria depend on several factors, such as the applicant’s age, business experience, monthly income, and credit score, among others. You can apply for a commercial vehicle loan with us to finance the purchase of a new or pre-used commercial vehicle for your business. We will ask you to submit the bare minimum of documents, including your KYC documents, income proof, address proof, and bank statements, among others.