A commercial vehicle loan is a type of loan specifically designed to finance the purchase of a commercial vehicle, such as a truck or van, for business use. These loans typically have different terms and requirements compared to personal vehicle loans, as they are intended for use in a commercial setting. The lender will typically require information about the borrower’s business, including financial statements and proof of income, as well as the details of the vehicle being purchased. The loan may be secured or unsecured, and the interest rate will vary depending on the creditworthiness of the borrower and the specific loan product.
The customer can submit application to any of the following banks.
CIBIL Score is a three-digit numeric summary of your credit history. The score is derived using the credit history found in the CIBIL Report (also known as CIR i.e Credit Information Report).
A CIR is an individual’s credit payment history across loan types and credit institutions over a period of time
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