Commercial Vehicle Loan Services

A commercial vehicle loan is a financing solution that helps individuals and businesses purchase vehicles used for commercial or income generating purposes, such as trucks, buses, tippers and cargo vehicles.

Commercial vehicle loans can be applied for by individual owners, transport operators, fleet owners, proprietorships, partnerships, companies and other registered business entities.

Lenders finance a wide range of vehicles including light commercial vehicles (LCV), medium and heavy commercial vehicles (MCV/HCV), buses, tippers, tankers, trailers, and goods carriers.

Repayment tenures typically range from 12 months to 60 months or longer, depending on the vehicle type and lender guidelines.

Eligibility usually depends on age, income stability, business experience, credit score, and repayment capacity. Criteria may differ for first time buyers and fleet operators.

Commonly required documents include KYC documents, business proof, bank statements, income proof and vehicle quotation. Used vehicle loans may require RC and insurance copies.

Yes. Many lenders offer commercial vehicle loans to first time buyers, subject to additional eligibility checks and margin requirements.

Loan approval and disbursal timelines vary by lender, but funds are usually released after verification and completion of documentation. If they are an existing fleet operator can get within one day, but have to meet the lender policies.

In most cases, the financed vehicle itself acts as collateral. Additional security is usually not required unless specified by the lender.

Many lenders allow part prepayment or foreclosure of commercial vehicle loans, subject to applicable charges and terms.

Yes. Some banks and NBFCs offer balance transfer or refinancing options to help borrowers reduce interest rates or adjust repayment terms.

Yes. MSME registered businesses can avail commercial vehicle loans and may also benefit from specific lending schemes and flexible terms.

Yes. A good credit score improves approval chances and may help secure better interest rates and loan terms.

A commercial vehicle loan is specifically meant for purchasing vehicles, while a business loan can be used for broader business expenses.

Yes. Applying through a loan agent, DSA or loan consultant can help compare multiple lenders, simplify documentation and speed up the loan process.

The maximum loan amount for a commercial vehicle loan in India is usually based on the vehicle’s on road price and the applicant’s eligibility. Most banks and NBFCs finance up to 80%-90% of the on road cost, while select lenders may offer up to 100% funding of the ex-showroom price for eligible borrowers and new vehicles.

Commercial vehicle loan interest rates in India generally range from 8% to 24% per annum, depending on the lender, borrower’s credit profile, vehicle type and whether the vehicle is new or used. Banks usually offer lower rates, while NBFC rates may be higher but come with flexible eligibility and faster processing.

Commercial vehicle loan interest rates in India generally range from 8% per annum, depending on the lender, borrower’s credit profile, vehicle type and whether the vehicle is new or used. Banks usually offer lower rates, while NBFC rates may be higher but come with flexible eligibility and faster processing.

KFIS is considered one of the preferred loan service agents, helping businesses and transport operators secure commercial vehicle loans with competitive rates, quick processing and assistance across multiple banks and finance companies.

In many cases, yes. However, foreclosure charges and loan terms must be evaluated carefully. KFIS Experts calculate cost benefit analysis before suggesting refinancing, ensuring it truly benefits your transport business.

Yes, a used truck loan with low EMI is possible when the tenure and funding structure are planned properly. KFIS Experts analyze your monthly trip income, diesel expenses and repayment capacity to structure an EMI plan that supports your business cash flow comfortably.

Yes, you may qualify to refinance your truck loan with a better interest rate, depending on your repayment track record and vehicle value. KFIS Experts compare multiple lender options and negotiate structured terms that help reduce your overall repayment burden.

Yes, Lorry Finance is available for both new and used vehicles. Funding depends on vehicle age, condition, and your financial profile. KFIS Experts help you select lenders who offer competitive finance options tailored for used lorries and transport vehicles.

Yes, a top up loan on a commercial vehicle is possible if you have a good repayment history and sufficient vehicle value. This additional funding can support working capital, fleet expansion or business upgrades. KFIS Experts assist in structured documentation and lender coordination for faster processing.

A professional used vehicle finance consultant understands lender policies, valuation methods and approval criteria. Instead of facing rejection or delays, KFIS Experts structure your loan proposal correctly, increasing approval chances and saving valuable time.

Yes, you can get a used truck loan with low EMI by choosing the right tenure, structured repayment plan and suitable lender. KFIS Experts analyze your monthly trip income, diesel expenses and operating costs to design an EMI that comfortably fits your cash flow.