Versatile Loan Options
NO GUARANTOR REQUIRED
ATTRACTIVE EMI
Tenure Flexibility
MINIMAL DOCUMENTS
Affordable Repayment Options
INSTANT APPROVAL
• New commercial vehicle loans
• We offer commercial vehicle loan interest rate finance across the entire range of 1.5-tonne to 49-tonne GVW (Gross Vehicle Weight).
• Loan up to 100% on-road price of the vehicle
• Loan tenure up to 60 months
• Low EMI
• No guarantor option available
• No house proof required
• Loan up to 90% of the current market value
• Vehicle age to be up to 12 years by end of loan tenure
• Low EMI
• Loan up to 100% of the current market value
• Loan tenure up to 48 months
• Low EMI
Read on to know the criteria required to apply for our Commercial Vehicle Loan.
Self-employed individuals must have at least 2 years of business experience
Private/Limited companies, partnership firms, trusts, societies and associations must be in existence for a minimum 2 years.
Fleet operators and other existing vehicle owners require having 1 to 3 years of vehicle ownership proof of one or two commercial vehicles.
Private/Limited companies, partnership firms, trusts & societies Companies need to provide 2 years of audited financials.
Internal/external guarantor needed sometimes in case of individuals, first-time buyers and fleet operators/owners.
The customers need to have minimum residential stability of 2 years. *(Borrowers with lesser stability are subjected to certain terms and conditions).
• Borrowers applying for a commercial vehicle loan for old vehicles need to fulfil the following criteria along with the basic ones:
• Customers need to have relevant experience of 3 to 5 years depending on individual profile.
• Minimum 1 year of ownership of at least 2 vehicles.
• At least 1-year repayment track of commercial vehicles
An EMI calculator is a useful tool that can help you estimate the monthly instalments you will have to pay towards your commercial vehicle loan interest rate within a specific period. By using the Noble Fintech Advisory EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different loan options using Noble Fintech Advisory Commercial Vehicle Loan calculator.
Duly filled application form with attached photograph
Passport-size photographs
Cheque for processing fee
Age proof- Aadhaar Card/PAN Card/Voter's ID card/Driving License/Passport (Any one)
Identity proof- Aadhaar Card/Voter's ID card/Driving License/Passport (Any one)
Residence proof- Rental agreement/Voter's ID Card/Passport/Ration card/Tel bill or Elec. Bill/Trade License/ Sales Tax Certificate (Any one)
Signature verification proof-Driving License/PAN Card/Registered Sale Deed/Govt. ID Card (For Govt. employees) (Any one)
• Latest 6 months bank statement
• Financials for ITR for last 2 years
• Photocopy of official ID
• Valid documents to prove relevant experience (In case of first-time buyers)
• Existing vehicle ownership proof
• Vehicle details & valuation report
• Insurance and RC copy of vehicle
• Fleet list details (In case of small, medium, and large fleet operators/owners)
• Trade references (In case of first-time buyers, fleet operators/owners & experienced borrowers)
• Property ownership proof (In case of farmers)
• Proprietorship decl., partnership deed, (MOA/AOA), board resolution & 2 years audited financials (In case of Private/Limited companies, partnership firms, trusts & societies)
• Loan repayment track (if any)
Yes, if you do not fulfil the eligibility criteria, you can still avail the loan by applying for the loan with a co-applicant.
Yes, you will need a guarantor to avail a commercial vehicle loan. This criterion can, however, be waived off depending on your credit and profile strengths.
The co-applicants on a commercial vehicle loan could be your spouse, sibling, or your parents.
No, you will not be able to sell the vehicle unless the entire loan amount has been repaid.
After the payment of the last EMI, the bank will cancel the lien on the commercial vehicle and issue a loan closure letter, Form 35, and a No Objection Certificate (NOC) to the RTO for removing the lien from the RC book. Then a similar NOC will be issued to the insurance firm requesting them to remove the lien from the policy.
Versatile Loan Options
NO GUARANTOR REQUIRED
ATTRACTIVE EMI
Tenure Flexibility
MINIMAL DOCUMENTS
Affordable Repayment Options
INSTANT APPROVAL
• New commercial vehicle loans
• We offer commercial vehicle loan interest rate finance across the entire range of 1.5-tonne to 49-tonne GVW (Gross Vehicle Weight).
• Loan up to 100% on-road price of the vehicle
• Loan tenure up to 60 months
• Low EMI
• No guarantor option available
• No house proof required
• Loan up to 90% of the current market value
• Vehicle age to be up to 12 years by end of loan tenure
• Low EMI
• Loan up to 100% of the current market value
• Loan tenure up to 48 months
• Low EMI
Self-employed individuals must have at least 2 years of business experience
Private/Limited companies, partnership firms, trusts, societies and associations must be in existence for a minimum 2 years.
Fleet operators and other existing vehicle owners require having 1 to 3 years of vehicle ownership proof of one or two commercial vehicles.
Private/Limited companies, partnership firms, trusts & societies Companies need to provide 2 years of audited financials.
Internal/external guarantor needed sometimes in case of individuals, first-time buyers and fleet operators/owners.
The customers need to have minimum residential stability of 2 years. *(Borrowers with lesser stability are subjected to certain terms and conditions).
• Borrowers applying for a commercial vehicle loan for old vehicles need to fulfil the following criteria along with the basic ones:
• Customers need to have relevant experience of 3 to 5 years depending on individual profile.
• Minimum 1 year of ownership of at least 2 vehicles.
• At least 1-year repayment track of commercial vehicles
Duly filled application form with attached photograph
Passport-size photographs
Cheque for processing fee
Age proof- Aadhaar Card/PAN Card/Voter's ID card/Driving License/Passport (Any one)
Identity proof- Aadhaar Card/Voter's ID card/Driving License/Passport (Any one)
Residence proof- Rental agreement/Voter's ID Card/Passport/Ration card/Tel bill or Elec. Bill/Trade License/ Sales Tax Certificate (Any one)
Signature verification proof-Driving License/PAN Card/Registered Sale Deed/Govt. ID Card (For Govt. employees) (Any one)
• Latest 6 months bank statement
• Financials for ITR for last 2 years
• Photocopy of official ID
• Valid documents to prove relevant experience (In case of first-time buyers)
• Existing vehicle ownership proof
• Vehicle details & valuation report
• Insurance and RC copy of vehicle
• Fleet list details (In case of small, medium, and large fleet operators/owners)
• Trade references (In case of first-time buyers, fleet operators/owners & experienced borrowers)
• Property ownership proof (In case of farmers)
• Proprietorship decl., partnership deed, (MOA/AOA), board resolution & 2 years audited financials (In case of Private/Limited companies, partnership firms, trusts & societies)
• Loan repayment track (if any)
An EMI calculator is a useful tool that can help you estimate the monthly installments you will have to pay towards your Commercial Vehicle Loan within a specific period. By using the Noble Fintech Advisory EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different loan options using Noble Fintech Advisory Commercial Vehicle Loan calculator.
Yes, if you do not fulfil the eligibility criteria, you can still avail the loan by applying for the loan with a co-applicant.
Yes, you will need a guarantor to avail a commercial vehicle loan. This criterion can, however, be waived off depending on your credit and profile strengths.
The co-applicants on a commercial vehicle loan could be your spouse, sibling, or your parents.
No, you will not be able to sell the vehicle unless the entire loan amount has been repaid.
After the payment of the last EMI, the bank will cancel the lien on the commercial vehicle and issue a loan closure letter, Form 35, and a No Objection Certificate (NOC) to the RTO for removing the lien from the RC book. Then a similar NOC will be issued to the insurance firm requesting them to remove the lien from the policy.
At Noble Fintech Advisory, we strive to help you go beyond the expected. We don't just offer loans; we provide financial solutions tailored to your needs. Our commitment to transparency, excellence in customer services, our innovative loan products ensures that you achieve your goals with confidence.
217, Off B/2, Parmar Trade Center, 12 Cannaught House And Road, Pune, Maharashtra, 411001
