Introduction to Commercial Vehicle Loans

Commercial vehicle loans from Loanpao help businesses and individuals finance trucks, buses, taxis, and other vehicles for commercial use. With competitive interest rates starting at 8.5% p.a., flexible tenures, and quick disbursal, Loanpao supports your transportation business growth in 2025.

Why Choose Loanpao for Commercial Vehicle Loans?

Loanpao offers tailored financing solutions for commercial vehicles:

  • Low Interest Rates: Starting at 8.5% p.a., based on credit profile.
  • High Loan Amounts: Up to ₹50 lakh for heavy vehicles.
  • Flexible Tenure: Up to 5 years to match cash flows.
  • Quick Disbursal: Funds within 3–7 business days.
  • Wide Vehicle Range: Covers trucks, buses, taxis, and more.

Commercial Vehicle Loan Rates

Loanpao’s rates vary by vehicle type and applicant profile:

Vehicle Type Interest Rate (p.a.) Loan Amount Tenure
Heavy Commercial Vehicles (Trucks, Buses) 8.5% - 12.0% ₹5 lakh - ₹50 lakh 1–5 years
Light Commercial Vehicles (Vans, Pickups) 9.0% - 13.0% ₹2 lakh - ₹20 lakh 1–4 years
Taxis and Cabs 9.5% - 14.0% ₹1 lakh - ₹10 lakh 1–3 years

Note: Rates are indicative and subject to credit score, vehicle type, and market conditions. Contact Loanpao for personalized quotes.

Eligibility Criteria

To apply for a commercial vehicle loan with Loanpao, meet these criteria:

  • Age: 21–65 years (individuals) or registered business entity.
  • Business Vintage: Minimum 1 year for businesses or self-employed.
  • Credit Score: 650+ preferred for lower rates.
  • Income: Stable revenue or income proof (ITR or bank statements).
  • Vehicle Purpose: Must be for commercial use (e.g., transport, logistics).

Tip: Use Loanpao’s EMI calculator to estimate monthly payments.

Documents Required

Loanpao simplifies documentation for commercial vehicle loans:

  • Identity Proof: Aadhaar, PAN Card, or Voter ID.
  • Address Proof: Utility bill, rent agreement, or Aadhaar.
  • Business Proof: GST registration, shop license, or company certificate.
  • Financials: ITR (2 years), bank statements (6 months).
  • Vehicle Documents: Quotation, proforma invoice, or dealer agreement.

Types of Commercial Vehicle Loans

Loanpao offers financing for various commercial vehicles:

  • Heavy Vehicle Loans: For trucks and buses used in logistics.
  • Light Vehicle Loans: For vans and pickups in small-scale transport.
  • Taxi Loans: For cabs and ride-sharing vehicles.
  • Refinancing Loans: To lower existing loan rates.
  • Fleet Expansion Loans: For purchasing multiple vehicles.

Benefits of Loanpao’s Commercial Vehicle Loans

Loanpao’s loans provide:

  • Competitive rates starting at 8.5% p.a.
  • Quick disbursal within 3–7 days.
  • Flexible repayment terms up to 5 years.
  • Support for new and used commercial vehicles.
  • Expert guidance for loan processing and documentation.

Frequently Asked Questions

Loanpao offers rates starting at 8.5% p.a., based on credit profile.

Yes, Loanpao finances both new and used commercial vehicles.

Up to ₹50 lakh for heavy vehicles, based on eligibility.

The vehicle itself typically serves as collateral; additional security may be needed for higher amounts.

Funds are disbursed within 3–7 business days post-verification.

Trucks, buses, vans, taxis, and other commercial vehicles are eligible.

Yes, self-employed individuals with 1+ year of business vintage can apply.

Loanpao offers flexible prepayment options with minimal or no penalties, depending on terms.

Yes, applications can be submitted via Loanpao’s website.

Contact Loanpao via the website or call the support number listed on the contact page.