Commercial Vehicle Loan FAQs

Yes, we provide loans on commercial vehicles and construction equipment of all major manufacturers.

The finance for body construction is extended for certain customer profiles as defined by product policy.

The maximum amount of finance depends on the customer profile and the product.

We work on a monthly reducing interest rates.

We levy product specific, document and stamp charges on actual basis as levied by the statutory authority and also depending on the place of execution of the contract.

Normally, the loan is sanctioned within few working days after all the required documents are submitted.

Yes, a copy of the agreement will be provided to the applicant.

We require a guarantor or co-applicant depending on the profile of the customer and product.

No collateral security required.

Yes, special promotions and tie-ups with several manufacturers/dealers will be running at various locations and at various points of time.

Yes, you can. However, it is always preferred to select the dealer who is nearer to your business or residential location for better after-sales service.

We accept bulk part payments. However, the excess amount will be parked in a suspense account and will not result in the reduction of the loan outstanding or reduction in IRR.

Yes, you can pay your EMIs in any of our branches.

Yes. However, a charge will be levied for the collection of such cheques.

Statement of accounts would be sent after we receive a request from you.

You can intimate the branch, which you normally deal with.

A comprehensive policy is mandatory as per the rules laid down by the concerned authority.

We have in-house Mahindra Insurance Broker Limited which can take care of all your insurance needs and can give you the best deal.

Our field executive would inform you about the documents & vehicle quotation required from your end and visit you at your residence/office to collect the same and forward the same to our credit team for appraising. On approval of the loan, our field executive will visit you to have the loan agreement & PDC/ACH signed, post the same, we will release the Delivery Order to the concerned dealer.