Commercial Vehicle Loan
Commercial Vehicles Loan: Key Features
New Commercial Vehicles Loan
✔️ Get commercial vehicle finance on wide range of vehicles – ranging from 1.5-tonne to 49-tonne GVW (Gross Vehicle Weight)
✔️ Avail loan for all variety of buses, Trucks, Tankers & tippersl
✔️ Up to* 100% funding
✔️ Competitive Rate of Interest
Used Commercial Vehicles
✔️ Loan given for purchase of Used Commercial Vehicles or Refinance, basis parent loan’s repayment track record.
✔️ Up to* 90% funding
✔️ Competitive Rate of Interest
Balance Transfer
✔️ A vehicle loan transfer is a process of transferring your existing commercial vehicles loan's balance from one lender to another.
✔️ Attractive interest rates
✔️ Quick & transparent process
✔️ Low EMI
Topup Loan
✔️ Attractive interest rates
✔️ Quick & transparent process
✔️ Low EMI
New commercial vehicles loan
- Get commercial vehicle finance on wide range of vehicles – ranging from 1.5-tonne to 49-tonne GVW (Gross Vehicle Weight):
- Avail loan for all variety of buses, Trucks, Tankers & tippers
- Up to* 100% funding
- Competitive Rate of Interest
Used commercial vehicles
- Loan given for purchase of Used Commercial Vehicles or Refinance, basis parent loan’s repayment track record.
- Up to* 90% funding
- Competitive Rate of Interest
Balance Transfer
- A vehicle loan transfer is a process of transferring your existing commercial vehicles loan's balance from one lender to another.
- Attractive interest rates
- Quick & transparent process
- Low EMI
Topup Loan
- Attractive interest rates
- Quick & transparent process
- Low EMI
All you need to know about Commercial Vehicle Loan
Types of loans
Choose from four types of loans for commercial vehicles:
- New
- Used/ refinance/ re-purchase finance
- Balance transfer
- Top-up loans
Types of vehicles
Get commercial vehicle finance on wide range of vehicles – ranging from 1.5-tonne to 49-tonne GVW (Gross Vehicle Weight):
Buses
- Intracity
- Intercity
- School and college bus
- Staff bus
Trucks
- Small truck
- Light truck
- Medium truck
- Heavy truck
- Customised truck
Tankers
- Milk tanker
- Water tanker
- Oil tanker
- Chemical tanker
- Petroleum tanker
- Gas tanker
Tippers
Transit mixers
Tempos
Manufacturers
Purchase your commercial vehicle from some of the best Indian automobile companies, including:
- Tata Motors
- Eicher Motors
- Volvo
- Mahindra Navistar
- MAN
- AMW
- Mahindra & Mahindra
- Swaraj Mazda
- Bajaj Tempo
- Ashok Leyland
Processing
Enjoy simpler documentation and doorstep service
Benefit from our short turnaround time for loan approval and disbursal
Get complete clarity on loan process with no hidden charges
Receive updates on status of loan application at every stage
Rates and charges
Receive attractive interest rates and low charges on your commercial vehicle loan
EMIs
Customise EMI schedule to match your cash flow
| Description of charges | Commercial Vehicles Finance |
|---|---|
| EMI Return charges* | Rs. 550/- per instance |
| Part Prepayment charges / Premature closure charges* | 4 % of POS (Principal Outstanding) for pre-closures within 1 year from 1st EMI 2% of POS (Principal Outstanding) for pre-closures after 1 year from 1st EMI For borrowers classified as Micro and Small Enterprises (MSE): 1. Prepayment of fixed rate loans upto Rs. 50 lacs is permitted without levying any prepayment penalty. 2. Prepayment of Floating Rate Loans / Takeover Loans is permitted without levying any prepayment penalty. |
| Cheque/ECS Swap Charges | Rs. 500/- per transaction |
| Duplicate Amortisation Schedule Charges | Rs. 200/- per schedule |
| Loan Re-schedulement/Rebooking Charges | Rs. 1000/- |
| Duplicate/Special NOC Charges | Rs. 500/- per instance |
| CIBIL Report Charges(on request) | Rs. 50/- per request |
| Stamp Duty | At actuals |
| Delayed instalment payment charge | 1.50% per month (18% p.a.) plus applicable government taxes on overdue instalment amount |
| Processing fees (Non-Refundable)* | New/Used Loans: up to 1.50% of the Loan Amount NIL Processing Fees for loan facilities upto Rs. 5 lakhs at customer level, availed by Micro and Small Enterprises, subject to URC submission before disbursal. |
| Service Charges* | Up to 1.50% of the Loan Amount |
| Valuation charges* | Rs. 900/- per asset |
| Asset verification charges | At Actuals |
| Legal/Collection/Repossession and Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer. | At Actuals |
| Loan Cancellation | In the event of cancellation of loan, interest charges from disbursement date till refund of disbursement amount will be borne by the customer. Processing Fee, Stamp Duty are non-refundable charges and would not be waived/refunded in case of loan cancellation. |
| Registration Certificate (RC) / Collateral Documentation Collection Charges* | Rs. 500/- (per case) |
| Pre-Installment Interest | Interest from Disbursement Date to First Installment Interest Start Date (Deducted Upfront from Disbursement Amount on Disbursement Date) |
| Solvency Certificate | Up to 1% of the solvency certification value |
| CERSAI Charges | At actuals |
Average Rates offered to customer during the period of Jan to Mar 2025
| Bank IRR | ||
| Min IRR | Max IRR | Avg IRR |
| 8.50% | 16.86% | 10.04% |
Average Annual Percentage Rate offered to customer during the period of Jan to Mar 2025
| APR | ||
| Min APR | Max APR | Avg APR |
| 8.5% | 17.7% | 10.1% |
* Exclusive of GST
Note: * Wherever notified GST and other government levies, as applicable, would be charged additionally at the applicable rates.
Apply for Working Capital Loan with HDFC Bank
If you pay your EMI after the due date, interest will be charged on unpaid EMI for the number of days you are late. This interest is calculated at your loan’s contracted rate and will be added to your next EMI.
Example:
📅 EMI Due Date: 10th
💰 Payment Made On: 25th
⏳ Delay: 15 days
💸 Impact: Interest for these 15 days will be added to your next EMI.
Please pay on time to avoid such impact.
FAQs on Car Loan
It’s a loan designed to help businesses and entrepreneurs purchase new or used commercial vehicles like trucks, vans, and tempos, with flexible repayment and competitive interest rates.
Individuals or businesses owning a valid driving license, with proof of stable income or business turnover, and meeting the age criteria (usually 21 to 65 years).
New and used commercial vehicles including trucks, buses, vans, tempos, and other light or heavy commercial vehicles.
The vehicle itself usually acts as collateral. Additional security may be requested for higher loan amounts.
Loan Shopie aims for quick processing, with approvals often provided within a few days after document submission.