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Shriram Commercial Vehicle Loans

Commercial Vehicle Loan in Mumbai

Mumbai is one of India's leading financial and commercial capitals, making it one of the busiest cities in the country. With the rising need for commercial vehicles in the city, businesses need commercial vehicles to transport goods and services across the city and the country. This is where the Commercial Vehicle Loan in Mumbai is very much a necessity since it helps your business grow. Be it a truck to transport goods or to expand your fleet, commercial vehicle finance makes it easy for you to buy, upgrade or replace your commercial vehicle.

Features and Benefits of Commercial Vehicle Loans in Mumbai

Here are the features of the Commercial Vehicle Loan in Mumbai:

Finance for New and Used Vehicles

Finance for New and Used Vehicles

Get Commercial Vehicle Finance for new and used passenger and goods vehicles.
Competitive Interest Rates

Competitive Interest Rates

Get interest rates starting from 10%* p.a.
High Loan-to-Value Ratio

High Loan-to-Value Ratio

Access funds up to 95%* of the vehicle’s value.
Flexible Loan Tenure

Flexible Loan Tenure

You can get up to 60 months to repay the loan.

Here are the benefits of the Commercial Vehicle Loan in Mumbai:

Quick Disbursal
Quick Disbursal
Fast and reliable loan approval with minimal documentation.
Regular Reminders
Regular Reminders
Get alerts on your registered mobile number and email ID about your EMI.
Quick Online Application
Quick Online Application
Save time with an online application, reducing your visits to the branches.
Loan for Different Types of Vehicles
Loan for Different Types of Vehicles
Get commercial vehicle loans for light, medium, heavy and specialised vehicles.

Commercial Vehicle Loan Interest Rates in Mumbai

Here are the interest rates and charges related to the Commercial Vehicle Loan in Mumbai:

Type of Fees Applicable Charges
Interest RateStarting from 10%* p.a.
Processing FeesUp to 5%*
Foreclosure ChargesUp to 4%*

For more details on interest rates and charges on commercial vehicle loans, please refer to our interest rate policy.

How to Use Commercial Vehicle Loan EMI Calculator

The commercial vehicle loan EMI calculator online provides insights into your monthly repayment amount. Simply enter the loan amount, interest rate and the tenure to get the EMI and the interest payable. You can change the parameters to understand which combination works best for you.

STEP 01

Required loan amount

â‚ı

STEP 02

Interest rate

%

Min 8%

Max 30%

STEP 03

Loan tenure
months

Min 12 months

Max 60 months

Loan Summary

loangraph

Loan

Loan Amount

â‚ı 1,00,000

Interest Payable

â‚ı 4,386

Monthly EMI

â‚ı 8,699

Eligibility and Documentation Criteria for Commercial Vehicle Loans in Mumbai

For businesses, it is crucial to understand the eligibility for a commercial vehicle loan in Mumbai and the documentation required.

  • Individual IconCommercial Vehicle Loan Eligibility
    • Type of Business: Transport-related businesses
    • Age: Minimum age is 18 years and 70 years (the applicant should not be older than 70 years at the time of loan maturity)
    • Type of Vehicle: New and used vehicles
  • Individual IconDocumentation for Commercial Vehicle Loan
    • Identity and Address Proof: Aadhaar, PAN, Passport or Voter ID
    • Income Proof (Any one): Last 12 months’ bank statement, Income Tax Returns (ITR), audited company accounts of last financial year or cash flow statement.

Step-by-Step Application Process for Commercial Vehicle Loans in Mumbai

Here’s the step-by-step guide on how to apply Commercial Vehicle Loan in Mumbai:

How To Apply

  • Step 1

    Register online with your registered mobile number

  • Step 2

    Verify with OTP

  • Step 3

    Provide personal details

  • Step 4

    Receive a call from a representative

Types of Commercial Vehicle Loans

Here are the different types of commercial vehicle loans in Mumbai:

interest rates

Commercial Goods Vehicle Finance

achievement

Passenger Vehicle Loan

retirement

Tractor & Farm Equipment Loan for New and Used Vehicles

Life assured income

Construction Equipment Loan for New and Used Vehicles

cash

Used Commercial Vehicle Loan

coin

Used Passenger Vehicle Loan

Types of Vehicles

Commercial Vehicle Loan in Mumbai provides loans for various types of vehicles, tailored to your business needs:

    • Light vehicles: Used for last-mile delivery, small freight, urban logistics, etc.
    • Medium vehicles: Utlised for long-distance cargo, inter-city transport, etc.
    • Heavy vehicles: Typically used for heavy-duty transport, mining, construction, etc.
    • Specialised vehicles: Used for niche logistics, pharmaceuticals, constructions, etc.

Our Commercial Vehicle Loan Branches in Mumbai

Here are the Shriram Commercial Vehicles Loan branches in Mumbai:

Locate Us

or

  • ANDAMAN AND NICOBAR ISLANDS
  • ANDHRA PRADESH
  • ASSAM
  • BIHAR
  • CHANDIGARH
  • CHHATTISGARH
  • DADRA AND NAGAR HAVELI
  • DELHI
  • GOA
  • GUJARAT
  • HARYANA
  • HIMACHAL PRADESH
  • JAMMU AND KASHMIR
  • JHARKHAND
  • KARNATAKA
  • KERALA
  • Karnataka
  • MADHYA PRADESH
  • MAHARASHTRA
  • MANIPUR
  • MEGHALAYA
  • Madhya Pradesh
  • Maharashtra
  • ODISHA
  • PUDUCHERRY
  • PUNJAB
  • RAJASTHAN
  • SIKKIM
  • TAMIL NADU
  • TELANGANA
  • TRIPURA
  • Tamil Nadu
  • Telangana
  • UTTAR PRADESH
  • UTTARAKHAND
  • WEST BENGAL

Commercial Vehicle Loan Customer Care in Mumbai

Here is the customer care number for queries related commercial vehicle finance in Mumbai:

Toll Free Number

Commercial Vehicle Loan Status in Mumbai

To check your commercial vehicle loan status in Mumbai, log in to your account through Shriram Finance website. Go to the ‘Loan Status’ section and enter your application number or loan account number to know the current status. You can also visit one of our branches or contact our customer care number for more details.

Commercial Vehicle Loan in Major Cities in India

Commercial Vehicle Loan in Mumbai

Quick Links

Commercial Vehicle Loan FAQs

What are the eligibility criteria for a Commercial Vehicle Loan in Mumbai?

Businesses involved in transport businesses, with applicants aged between 18 and 70 years at loan maturity qualify for a loan are eligible to apply for Commercial Vehicle Loan.

What is the interest rate on a Commercial Vehicle Loan in Mumbai?

The Commercial Vehicle Loan Interest rate in Mumbai starts from 10%* p.a., and is customised based on your profile and vehicle type.

Can I prepay or foreclose my Commercial Vehicle Loan in Mumbai?

Yes, you can prepay or foreclose your loan; charges are applicable according to policy and tenure.

Who can apply for a Commercial Vehicle Loan in Mumbai?

Any person or business working in the transport sector can apply for a Commercial Vehicle Loan in Mumbai for both new and used vehicles.

What is the maximum loan tenure for a Commercial Vehicle Loan in Mumbai?

You can choose a Commercial Vehicle Loan tenure up to 60 months depending on your needs.

What is the minimum interest rate for a Commercial Vehicle Loan in Mumbai?

Minimum rates start from 10%* p.a. with actual rates depending on the loan application details.

What documents are required for a Commercial Vehicle Loan in Mumbai?

You will need KYC documents, proof of income, business registration, and vehicle-related papers, all based on your loan profile.

What is the maximum loan amount I can get for a Commercial Vehicle Loan in Mumbai?

You can get up to 95%* of the vehicle’s value as a loan under Commercial Vehicle Finance in Mumbai, depending on the evaluation.

Disclaimer

The information provided in this guide is for educational purposes only and should not be considered financial advice. Always consult with a financial advisor before making investment decisions related to fixed deposits or any other financial products.