What is the time period of commercial vehicle loan?

The time period for a Commercial Vehicle Loan usually ranges from 1 to 7 years, depending on the financial institution and borrower’s preference. Factors affecting the loan tenure include:

• Loan Amount: Larger loans may have longer tenures.
• Vehicle Type: Newer vehicles might qualify for extended terms.
• Borrower’s Financial Profile: Strong financials may allow more flexible repayment options.

Choosing the right tenure helps balance monthly payments and total interest costs.