- Loan up to 100% on-road price of the vehicle
- Loan tenure up to 60 months
- EMI as low as ₹2222/- per Lac
- No guarantor option available
- No house proof required
- Loan up to 90% of the current market value
- Vehicle age to be up to 12 years by end of loan tenure
- EMI as low as ₹2999/- per Lac
- Loan up to 100% of the current market value
- Loan tenure up to 48 months
- EMI as low as ₹2678/- per Lac
| Processing fees (Non-Refundable) | Exposure above INR 5 Lakh: Up to 5.0% of the Loan Amount |
| Documentation charges | Up to INR 20,000/- |
| Stamp Duty | At Actuals |
| Valuation | At Actuals |
| Asset Verification | At Actuals |
| EMI Return | INR 472/- per EMI bounce (including GST) |
| Late Payment | 2% per month on outstanding (Principal, interest) instalment |
| Cheque/ECS Swap | INR 500/- per transaction [Other bank to IDFC swapping – nil] |
| Duplicate Amortisation Schedule | INR 200/- per schedule |
| Duplicate/Special NOC | INR 500/- per instance |
| Statement of Account | INR 200/- per statement |
| Foreclosure/Prepayment | 5.00% of the principal outstanding |
| Loan Cancellation | Loan Cancellation Charges INR 1000/- per Loan Account (Gap interest to be borne by customer along with No refund/waiver of Processing fee, Stamp Duty and any other charges) |
GST, as applicable, will be levied on all service charges. The above Schedule of Charges is subject to be revised from time to time by the Bank, as will be updated on the official website of the Bank.
We offer term loan facilities for the purchase of new commercial vehicles and used commercial vehicles, refinancing options for pre-owned vehicles, a balance transfer option, and much more.
Apart from the many benefits we offer, here are some of the features you can enjoy:
1. Hassle-free loan sanction process
2. Simple documentation and faster decision process
3. Longer loan tenures up to 5 years & moratorium period up to 90 days
4. No hidden charges & complete transparency
5. One-point contact – Dedicated Relationship Manager
6. Competitive pricing
7. One-stop-shop for all your banking needs
We offer this loan and our Commercial Vehicle Loan interest rate to any individual, proprietorship concern, partnership firm, companies (private limited & public limited), One Person Company, Limited Liability Partnership, trusts, societies & HUF.
Our loan amount is dependent on our customer’s profile and our internal policies.
The interest on this loan is charged on a fixed rate basis and is dependent on the applicable scheme for a particular product.
There are many ways to avail a loan from IDFC FIRST Bank. Here’s a list of the many ways you can do so:
1. Apply online
2. Call us on our 24-hour customer care centre
3. Walk into any of our branches
4. Contact any of our direct sales personnel