Get professional assistance for commercial vehicle loans for trucks, buses, taxis, and other business vehicles. Compare available loan options from banks and NBFCs, understand eligibility, and get support with documentation and the application process.
Key Benefits:
Multiple bank and NBFC options
New and used commercial vehicle finance
Flexible repayment options, subject to lender policies
PAN India loan assistance
Nil service charges across India
LOANSBAZAAR INDIA
Commercial Vehicle Loan in India
Explore commercial vehicle finance options for trucks, mini trucks, buses, taxis, LCVs, HCVs, fleet expansion and eligible new or used commercial vehicles. Compare indicative lender terms and get assistance with your loan enquiry and application process.
Apply for a Loan Compare Loan Options EMI CalculatorWhat Is a Commercial Vehicle Loan?
A commercial vehicle loan is financing that eligible individuals, self-employed applicants, transport operators and businesses may use to purchase a vehicle for commercial purposes. Depending on the lender and applicant profile, financing may be available for new or used trucks, buses, taxis, goods carriers and other eligible commercial vehicles.
LoansBazaar India helps applicants explore financing options from banks and NBFCs. Loan eligibility, documentation, interest rates, repayment tenure and final approval are determined by the selected lender.
Commercial Vehicle Finance Solutions
New Commercial Vehicle
Explore financing for eligible new trucks, buses, taxis and goods carriers.
Used Commercial Vehicle
Check available finance options for eligible pre-owned commercial vehicles.
Fleet Expansion
Explore funding options for eligible transport operators looking to expand a fleet.
Goods Carrier Finance
Compare possible finance options for mini trucks, LCVs, HCVs and goods vehicles.
Passenger Vehicle Finance
Explore eligible bus, taxi and other commercial passenger vehicle financing.
Business Loan Assistance
Where suitable, explore other business finance options for eligible business needs.
Commercial Vehicle Loan Interest Rates & Charges
The following table presents indicative figures supplied for comparison. These are not guaranteed or live offers. Actual terms can vary by lender, vehicle type, new or used vehicle status, credit profile and loan scheme.
Public and Private Sector Banks
| Lender | Loan Amount | Tenure | Interest Rate (p.a.) | Processing Fee |
|---|---|---|---|---|
| State Bank of India (SBI) | ₹10 Lakh–₹50 Lakh+ | Up to 84 months | 7.50%–11.50% | 0.50% + GST |
| HDFC Bank | ₹1 Lakh–₹10 Crore+ | 12–84 months | 7.92%–16.00% | Up to 1.50% |
| ICICI Bank | Based on profile and fleet | 12–60 months | 8.50%–15.00% | Up to 2.00% + GST |
| Bank of Baroda | Up to ₹30 Crore | Up to 60 months | 8.50%–12.00% | 0.50%–1.00% |
| Kotak Mahindra Bank | ₹2 Lakh–fleet limit, subject to eligibility | Up to 60–84 months, scheme-dependent | Prevailing MCLR to 24.00% | Up to 3.00% |
| IDFC FIRST Bank | ₹50,000–₹2 Crore | 12–84 months | 9.00%–20.00%+ | Up to 3.00%–5.00% |
NBFCs and Vehicle Finance Companies
| Lender | Loan Amount | Tenure | Interest Rate (p.a.) | Processing Fee |
|---|---|---|---|---|
| Shriram Finance | ₹1 Lakh–₹1 Crore+ | 12–60 months | 10.00%–22.00% | Up to 3.00%–5.00% |
| Mahindra Finance | Up to 90%–100% of asset value, subject to eligibility | 12–60 months | 11.00%–20.00% | 1.50%–3.00% + GST |
| Tata Capital | Based on applicant profile | 12–60 months | 10.50%–18.00% | Up to 2.95% + GST |
| Cholamandalam Finance | Based on financing needs | 12–60 months | 11.50%–22.00% | 2.00%–3.00% |
| Sundaram Finance | ₹1 Lakh to eligible fleet limits | 12–60 months | 9.50%–16.00% | 1.00%–2.00% |
Small Finance Banks
| Lender | Loan Amount | Tenure | Interest Rate (p.a.) | Processing Fee |
|---|---|---|---|---|
| AU Small Finance Bank | ₹1 Lakh–₹1 Crore+ | 12–60 months | 10.00%–17.00% | 1.50%–2.50% |
| Equitas Small Finance Bank | Based on profile and vehicle type | 12–72 months | 9.50%–17.00% | 1.00%–2.25% + GST |
| Utkarsh Small Finance Bank | ₹2 Lakh onwards, subject to eligibility | 12–60 months | 11.00%–18.00% | 0.30%–0.50% + GST |
Important: Interest rates, loan amounts, tenures and processing fees above are indicative reference figures and may not reflect the lender's current offer. Confirm the latest written terms, applicable taxes, documentation charges, insurance requirements and other fees directly with the lender before proceeding.
Commercial Vehicle Loan EMI Calculator
Estimate your monthly instalment using the loan amount, annual interest rate and repayment tenure. This calculator gives an approximate EMI; it does not constitute a lender quote or approval.
Estimate only. Actual EMI may differ because of lender terms, fees, insurance, taxes and repayment structure.
Who Can Apply?
Depending on the lender's scheme, eligible applicants may include:
- Self-employed individuals and proprietors.
- Transport and logistics operators.
- Partnership firms and eligible companies.
- Businesses purchasing a vehicle for commercial use.
- Existing vehicle owners seeking eligible fleet expansion finance.
Eligibility is assessed by the lender and may depend on income, business vintage, repayment capacity, credit history, existing obligations, vehicle age and type, and other lender-specific criteria.
Documents Commonly Required
- PAN and identity/address proof of the applicant.
- Bank statements for the period requested by the lender.
- Income tax returns, financial statements or income proof, where applicable.
- Business proof, GST details or registration documents, where applicable.
- Vehicle quotation, pro forma invoice or details of the used vehicle.
- Existing loan and fleet details, if requested.
The final document list varies by lender, applicant category and vehicle finance scheme. Submit documents only through authorised and secure channels.
How LoansBazaar India Assists You
1. Share Your Enquiry
Provide basic details about your business, vehicle and finance requirement.
2. Explore Available Options
Review potentially suitable lender options based on your stated requirements.
3. Prepare Your Application
Understand the documents and application steps requested by the lender.
4. Submit to the Lender
Proceed with the lender's application process and provide any requested information.
5. Review the Offer
Check the written sanction terms, EMI, fees and repayment obligations before accepting.
6. Track the Process
Follow up with the relevant lender or authorised representative for application updates.
Explore More Loan Services
Visit LoansBazaar India to explore other loan enquiry and application assistance services.
Frequently Asked Questions
What is the interest rate on a commercial vehicle loan?
Interest rates vary by lender, vehicle type, loan scheme, credit profile and repayment capacity. The comparison above contains indicative figures; request a current offer from the lender before making a decision.
Can I apply for a loan for a used commercial vehicle?
Some lenders offer financing for eligible used commercial vehicles. Vehicle age, condition, valuation, ownership documents and applicant eligibility can affect the available terms.
What tenure is available for commercial vehicle finance?
Tenure depends on the lender and scheme. The indicative comparison above shows different periods, but the lender's current offer and eligibility criteria will determine the final repayment period.
Are processing fees the same for every lender?
No. Processing fees, applicable taxes and other charges vary by lender and scheme. Check the lender's written fee schedule before accepting an offer.
Does submitting an enquiry guarantee loan approval?
No. An enquiry or application does not guarantee approval. The lender independently assesses the applicant, documents, credit profile and repayment capacity before making a decision.
How can I calculate my estimated EMI?
Enter the loan amount, annual interest rate and tenure in the EMI calculator on this page, then select Calculate EMI. The result is an estimate, not a lender quotation.
Contact LoansBazaar India
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Submit Loan EnquiryCommercial Vehicle Loan – Apply Now
Share your basic requirement to explore commercial vehicle finance options from banks and NBFCs, subject to lender coverage and eligibility.
Apply for a Loan Compare Loan Options More EMI ToolsFor an actual enquiry form on this page, add your configured Fluent Forms form using an Elementor Shortcode widget.
Commercial Vehicle Loan EMI Calculator
Calculate your estimated monthly instalment, total interest and total repayment.
The lender dropdown records a preference only in this calculator; it does not submit an enquiry or confirm that the selected lender will offer you a loan.
Explore Commercial Vehicle Finance Lenders
Explore the following bank, NBFC and Small Finance Bank names as possible starting points for your comparison. Availability and products must be confirmed with each lender.
Banks
NBFCs and Vehicle Finance Companies
Small Finance Banks
Other Loan Services
Commercial Vehicle Loan EMI Calculator
Plan your commercial vehicle financing with an estimated EMI, total interest and repayment breakdown.
Enter Loan Details
Adjust the values to estimate your monthly repayment.
Your EMI Estimate
Illustrative repayment calculation
Disclaimer: EMI is an estimate based on the loan amount, entered interest rate and tenure. Actual EMI, interest rate, fees, eligibility and loan approval depend on the lender's policies, applicant profile, documents and final decision. The lender selection is a preference only and does not submit an application or confirm lender availability.
Commercial Vehicle Loan – Documents Required
Prepare these documents to help us assess your commercial vehicle loan enquiry.
🔵 1. Identity & KYC Proof
- PAN Card – generally required for financial assessment
- Aadhaar Card, Passport, Voter ID or Driving Licence, as accepted by the lender
- Recent passport-size photographs, if required
- KYC documents of the borrower, co-applicant or guarantor, where applicable
🟢 2. Address Proof
- Electricity, telephone or other accepted utility bill
- Valid Passport or Voter ID
- Rent agreement, where applicable
- Property ownership documents, if requested by the lender
🟣 3. Business & Registration Proof
- GST Registration Certificate, if applicable
- Udyam / MSME Registration Certificate, if available or applicable
- Shop and Establishment Certificate or Trade Licence, where applicable
- Partnership Deed for partnership firms
- Certificate of Incorporation, MOA and AOA for eligible companies
- Board Resolution or LLP documents, where applicable
🟠 4. Financial & Income Proof
- Business and/or personal bank statements for the last 6–12 months, as requested
- Income Tax Returns (ITR) with income computation, commonly for the last 2–3 years
- Balance Sheet and Profit & Loss Account, generally for the last 2 years where applicable
- Audited financial statements, if applicable
- Credit history or credit bureau report, as assessed by the lender
🔴 5. Vehicle-Specific Documents
- Pro forma invoice or quotation from a vehicle dealer for a new vehicle
- Vehicle Registration Certificate (RC), for a used vehicle or refinancing case
- Existing vehicle insurance details, where applicable
- Vehicle details, including model, price and intended commercial use
- Existing loan statement or foreclosure details for a balance transfer, if applicable
Need Assistance With Your Commercial Vehicle Loan?
Submit your enquiry to LoansBazaar India for assistance with available lender options and the application process.
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