Commercial Vehicle Loan - Vehicle Finance India - Commercial Vehicle Loan Rates

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ICICI Bank Commercial Vehicle Loan

Whether big or small, get your commercial vehicle financed from – trucks, buses, tippers, and light commercial vehicles.

BENEFITS & FEATURES

Finance available for all Commercial Vehicles

Get financial help with all kinds of vehicles such as trucks, buses, tippers and other light commercial vehicles.

Working Capital

Our working capital loan will ensure that you meet all your business needs.

Extended Products

Get funding for new vehicles, finance on used vehicles, top up on existing loans as well as working capital loans to keep your business going.

Preferred Financier Status

ICICI Bank’s Preferred Financier status with all leading manufacturers makes the vehicle buying process easier.

Presence throughout India

With a presence in 400+ locations across India, getting a commercial loan is easy.

ELIGIBILITY
INTEREST RATES

Any individual/ partnership firm/ company with more than two years of business experience.
Existing owner of at least two commercial vehicles.
Captive customers and transporters

Specific interest rate applicable to a customer would be based on factors such as customer profile, relationship and tenure of loan etc.
Stamp duty charges shall be extra as applicable
Additional documentation charges of Rs 350 applicable
ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion

For more information, please visit the nearest ICICI Bank branch or call our Customer Care

Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.

To calculate the same, please click here to download the APR calculator.

Click Here

The loan depends on applicant's requirement

Funding can be to the extent of 100% of the chassis value; body funding can only be extended on special requirement

The tenure of the loan may vary from 12 to 60 months, depending upon the nature of the deal and the repayment capacity

Repayment can be made through post-dated cheques (PDCs) / ECS or through Auto-Debit (in the case of ICICI Bank account holders)

Prepayment of the loan is allowed, at a charge indicated on the ‘Service Charges’ page

In the event of an accident, you need to inform our local representative of it

While loan is sanctioned for the purchase of a new commercial vehicle, the Bank also offers loans for used vehicles

The time for sanction of a loan is usually 3 – 4 days from submission of the complete documents. However, this may vary depending on the nature of the loan, the quantum of funding, etc.

Commercial Vehicle Loans FAQs

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You can approach us in any of the following ways:

Apply online
Call us at our 24 hour Customer Care Centre.
You can just walk into any of our branches.
Contact any of our direct sales agents.

To avail a Commercial Vehicle Loan you will have to submit the following documents:

Proof of Address e.g. Passport, Ration Card, Voters ID
Proof of Experience in the relevant area
Track Record of past loans if availed
Bank Statement
ITR in case of specific category of customers
Additional documents like the financial statements for the last two years as applicable
Work Contracts to be submitted for higher quantum of funding.
Udyam Registration Certificate (URC) is mandatory to classify the loan under MSE* (subject to norm fulfilment)
*Micro & Small Enterprise