Are you in the transportation business or looking to venture into it? Whether you need a new four-wheeler, bus, truck, tanker, or any other commercial vehicle, Uttar Bihar Gramin Bank has your back with our Commercial Vehicle Loan. Let’s take a closer look at how we can help you drive your business forward.
Loan Purpose
Our Commercial Vehicle Loan is specifically tailored for the purchase of new vehicles to be used exclusively for commercial purposes. Whether you’re in the business of hiring, ferrying passengers, or any other commercial use, we’ve got you covered.
Eligibility
This loan is available to all individuals aged 18 years and above, up to the age of 65 years. We believe that age should not be a barrier to achieving your business goals.
Loan Amount
With Uttar Bihar Gramin Bank, you can secure financing of up to Rs. 2.00 Crore, allowing you to purchase a maximum of 5 vehicles. Whether you need one or a fleet, we’re here to support your business growth.
Margin Requirement
Our margin requirements vary between 15% and 25%, providing flexibility to suit your financial situation. We aim to make your commercial vehicle acquisition as hassle-free as possible.
Repayment Terms
We offer a maximum repayment period of 60 months, with the option for a maximum 6-month moratorium to help you get your business on the road before you start making repayments.
Security Options
You can secure your Commercial Vehicle Loan with the hypothecation of the vehicle itself. Additionally, if you have collateral to offer, that can be considered as security. Alternatively, you can opt for CGTMSE coverage, making it easier to access the loan.
Prepayment
Planning to pay off your loan ahead of schedule? Great news! Uttar Bihar Gramin Bank charges no prepayment penalties, allowing you the flexibility to manage your finances as your business prospers.
Competitive Interest Rate
Our Commercial Vehicle Loan comes with a competitive interest rate of 11.00%. We aim to make your investment in your business as affordable as possible.
With Uttar Bihar Gramin Bank’s Commercial Vehicle Loan, you’ll not only get the financial support you need but also a partner dedicated to your business’s success. Our casual and customer-friendly approach ensures that you can discuss your unique requirements with us, and we’ll tailor a solution that best fits your needs.
Don’t miss out on the opportunity to expand your commercial vehicle fleet and take your business to new heights. Reach out to Uttar Bihar Gramin Bank today, and let’s hit the road to success together.