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Commercial Vehicle

Get the right vehicle for your business.

Funding: Up to 100%* LTV
Repayment: Up to 7 years
Used vehicles: Up to 80% finance

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At A Glance

Purpose: New and used trucks, buses and light goods vehicles
Who can apply: An individual transporter, proprietorship, firm or company

See what you will need

The Short Version

What Commercial Vehicle actually does for you.

Financing for new and used commercial vehicles such as trucks, buses and light goods vehicles. It helps a business add or replace vehicles without putting a large amount of its own money upfront. We compare options from Banks and NBFCs that may suit your business.

What's included

Finance for new and used commercial vehicles
No penalty for early repayment on eligible loans, as per lender terms
Simpler documents

Do you qualify?

A business or person who will use the vehicle for commercial work
Income or business proof to show that you can repay the loan
Resident Indian: an individual transporter, proprietorship, firm or company
At least 1 year of experience in transport or the business the vehicle is for
A CIBIL score of around 700 or above may help you get better terms; lower scores are reviewed case by case

Which One Are You

Proprietor / ProfessionalYou run a business in your own name, or practise a profession such as medicine, law, accountancy or architecture. There is no separate company, so the lender looks at you and the business together: your ITRs, your financial statements and your business bank account. Clear books and returns filed on time help a lot.

Partnership / LLPThe business is a partnership firm or an LLP. The lender checks the firm's registration, its financials and its bank statements, and also the standing of each partner, so every partner's KYC and tax returns are usually needed. A signed partnership deed that allows borrowing keeps things smooth.

CompanyThe business is a private or public limited company. The lender checks the incorporation papers, the directors and the shareholding, the company's audited financials and its bank statements. A board resolution authorising the loan is usually needed, and directors may be asked to stand as guarantors.

Documents Required (Checklist)

For Self-Employed

Proprietor's KYC: PAN, Aadhaar and address proof
Business proof: GST registration, Udyam, shop licence or equivalent
Last 3 years' ITR with computation of income
Last 3 years' financial statements (P&L and balance sheet), audited where applicable
Last 12 months' current and savings account statements
GST returns for the last 12 months, where registered
Details of existing loans, with EMIs and statements

For Every Applicant

KYC (PAN, Aadhaar, address proof)
Income or business proof (ITR, bank statements)
Vehicle quotation, or registration papers for a used vehicle

This is the usual list for each type of applicant. Get the exact checklist for commercial vehicle, sent as a PDF you can save or print.

Fees and other charges

Besides interest, a lender may charge a few fees. It helps to know them before you apply, so there are no surprises.

Processing fee

A percentage of the loan amount plus GST, often somewhere between about 0.5% and 2%. Some lenders reduce or waive it during offers.

Documentation and hypothecation charges

A small fee for the paperwork, and for recording the lender's charge on the vehicle's registration (RC).

Foreclosure and part-prepayment

Closing early may carry a charge, usually a percentage of the outstanding amount, depending on the lender and how long you have held the loan.

These are general guides and every lender sets its own fees. Your expert will share the exact charges in writing before you sign.

Why Growth Capital Services

One conversation, many lenders to compare.

We are a loan consultant, not the lender. We help you compare options from 75+ Banks and NBFCs, prepare your documents, and follow your application through each step.

Check Your Eligibility Talk to Our Loan Expert

Important note: Interest rate, loan amount, tenure, charges, eligibility, approval and disbursement depend on the policy of the respective Bank or NBFC, your profile, credit assessment and the applicable terms. Growth Capital Services is a loan consultant and does not lend money itself. The details on this page are for general information.

Run the numbers

Calculators for your Commercial Vehicle

Try your own figures before you apply — nothing is saved or sent.

EMI Calculator

Plan your loan payments

Adjust the sliders to estimate your monthly EMI, total interest and total repayment.

Loan Amount

₹50.00 L

₹1 L₹10 Cr

Interest Rate (p.a.)

5%24%

Loan Tenure

Years

1 Yr30 Yrs

Monthly EMI: ₹46,607
Total interest: ₹61,85,574
Total payable amount: ₹1,11,85,574

EMI₹46,607per month

Principal (45%)

Interest (55%)

Talk to an Expert

Step-by-step guide

Commercial Vehicle process, step by step.

A commercial vehicle loan is planned around how the vehicle will earn. Here is how it goes.

Tell us the vehicle you need

Share the type, make, price and how you will use it in your business.

Assess your business

We look at your routes, contracts and earnings to see what you can borrow.

Match a lender

We shortlist lenders who finance commercial vehicles for your kind of work.

Submit documents

You provide KYC, business proof and bank statements.

Approval and delivery

The lender approves and pays the dealer, and the vehicle is registered with the lender's charge noted.

With GCS, your expert looks at your profile, matches it with suitable lenders, and coordinates with the banks for you. That means less confusion and more confidence when you apply.

Worth Comparing