Commercial Vehicle Loans FAQs
What are the eligibility criteria for availing an ICICI Bank Commercial Vehicle Loan?
What are the minimum & maximum loan amounts?
Loan amount can vary from a few thousands to crores depending upon the specific requirement. Funding can be upto the extent of 100 % of the chassis, body funding can be extended on special requirement & on the past experience. Our excellent relationship with leading manufacturers and dealers allow us to offer you the best deals.
What documents do I need to submit to avail a Commercial Vehicle Loan?
To avail a Commercial Vehicle Loan you will have to submit the following documents:
- Proof of Address e.g. Passport, Ration Card, Voters ID
- Proof of Experience in the relevant area
- Track Record of past loans if availed
- Bank Statement
- ITR in case of specific category of customers
- Additional documents like the Financial statements for the last two years
- Transportation Contracts to be submitted for higher quantum of funding.
How do I repay the loan?
Can I prepay my loan?
Do I need to open an account with ICICI Bank for availing and/ or servicing the loan?
We will encourage you to start a banking relationship with us so that we will be able to offer host of other value added services, which are complementary to the loan, however opening an account with us is not mandatory.