Vehicle Loan Options
A Vehicle Loan is a financing option that helps individuals and businesses purchase cars, bikes, or commercial vehicles with flexible repayment terms. It makes vehicle ownership affordable by offering easy EMIs, competitive interest rates, and quick approvals.
Types of Vehicle Loans
Vehicle loans are categorized based on the type and purpose of the vehicle
Car Loan
Financing for new or pre-owned cars with flexible tenures.
Two-Wheeler Loan
Designed for purchasing bikes or scooters with easy EMIs.
Commercial Vehicle Loan
For trucks, buses, and other business vehicles.
Used Vehicle Loan
Financing options for purchasing second-hand vehicles.
Electric Vehicle Loan
Special schemes to promote eco-friendly EV purchases.
Loan Against Vehicle
Funding availed by pledging an owned vehicle as collateral.
Why Vehicle Loans are Important?
Affordable Ownership
Makes cars, bikes, and commercial vehicles financially accessible.
Business Support
Helps entrepreneurs expand operations with commercial vehicle financing.
Flexible Repayment
EMI options tailored to customer needs and income levels.
Promotes Sustainability
EV loans encourage the adoption of eco-friendly transport.
FAQs
What is the maximum tenure for a vehicle loan?
Typically, 1 to 7 years depending on the lender and vehicle type.
Can I get 100% financing on vehicles?
Yes, many banks offer up to 90–100% financing for new vehicles.
What documents are required for a vehicle loan?
ID proof, address proof, income proof, bank statements, and vehicle details.
Can I prepay or foreclose a vehicle loan?
Yes, most lenders allow foreclosure or part-prepayment with minimal charges.