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Anisha Awate made post

What are the important features of taking a commercial vehicle loan in India?

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Manisha Mehta answered.
2 years ago

It is very easy to avail of a commercial vehicle loan in India. There are a number of players- banks as well as non-banking finance companies (NBFCs) lend to farmers, business people, entrepreneurs, etc.

A few main features of commercial vehicle loan in India are:

- You can get a commercial vehicle loan at a low interest if your profile matches with the criteria put forwarded by the lenders.

- Quick processing time with easy documentation and approval.

- Most prominent banks and NBFCs in India provide commercial vehicle loan at an affordable rate of interest without any security.

- Some of the banks assign a personal relationship manager from starting till procurement of the vehicle. He/she will complete all documentation and address every issue related to the loan.

- Once all required documents are submitted, it takes around 7 days for the disbursal of the loan amount.