Truck Loan Guide:- How To Get A Loan For Commercial Vehicles In India
Commercial vehicles are a costly asset, or we can say that they are a big investment. Most people try to get a truck loan instead of buying it in a single transaction. The loan for commercial vehicles is tough to get the thing, but in this blog, we will ease the way for you to get the loan The essential thing about this whole process is knowing the documents and steps. There are two ways form where you can apply for a loan, the first is Bank, and the other is an online platform So let’s get on the topic without wasting your time
How to Apply Loan For Commercial Vehicles:-
An individual or self-employed person, a firm, or a fleet owner for business purposes takes a commercial vehicle loan. There are a few differences between the commercial vehicle loan and the normal vehicle loan you will find. But before applying, there are some of the things which you must need to know Some things are required for commercial vehicle loans written as follows.
● Fill out the application form with photographs
● Attested documents with the structure for KYC for the person.
● Income documents of the person whose name you are buying the vehicle.
● Income Tax Return of last 2 years
● Salary slip of last 3 months.
● Bank statement of last 6 months.
● Form No 16
● Photocopies of all legal and official Identity Documents
Documents for KYC:-
● Aadhar Card
● PAN Card
● Residential Address Proof
● Voter’s ID Card
Apart from all these things, you also need a fantastic CIBIL Score to get a loan easily. If you are a business person, you can easily create a good CIBIL score and get a loan for commercial vehicles It is generated when you take a loan, pay the EMIs on time, or have a good transaction history.
Check out the Truck Junction website to get the best Truck Loan offers