No. For taking a commercial vehicle loan an experience proof is required which can be validated from deployment letter/driving license/commercial vehicle ownership.
Other documents required for taking a commercial vehicle loan are:
- Duly filled application form with attached photograph
- 2 passport-size photographs
- Cheque for processing fee
Other than these, you will also have to furnish the following documents:
KYC documents
- Age proof- Aadhaar Card/PAN Card/Voter's ID card/Driving License/Passport (Any one)
- Identity proof- Aadhaar Card/Voter's ID card/Driving License/Passport (Any one)
- Residence proof- Rental agreement/Voter’s ID Card/Passport/Ration card/Tel bill or Elec. Bill/Trade License/ Sales Tax Certificate (Any one)
- Signature verification proof-Driving License/PAN Card/Registered Sale Deed/Govt. ID Card(For Govt. employees) (Any one)
Income proof
- Last 3 months Salary Slips
- Latest 6 months bank statement
- Form No.16
- Updated income tax returns (ITR) for last two years
- Photocopy of official ID
Experience proof
- Valid documents to prove relevant experience (In case of first-time buyers)
Other documents(As applicable)
- Existing vehicle ownership proof
- Vehicle details & valuation report
- Insurance and RC copy of vehicle
- Fleet list details (In case of small, medium, and large fleet operators/owners)
- Trade references (In case of first-time buyers, fleet operators/owners & experienced borrowers)
- Property ownership proof (In case of farmers)
- Proprietorship decl., partnership deed, (MOA/AOA), board resolution & two years audited financials (In case of Private/Limited companies, partnership firms, trusts & societies)
No. For taking a commercial vehicle loan an experience proof is required which can be validated from deployment letter/driving license/commercial vehicle ownership.
Other documents required for taking a commercial vehicle loan are:
- Duly filled application form with attached photograph
- 2 passport-size photographs
- Cheque for processing fee
Other than these, you will also have to furnish the following documents:
KYC documents
- Age proof- Aadhaar Card/PAN Card/Voter's ID card/Driving License/Passport (Any one)
- Identity proof- Aadhaar Card/Voter's ID card/Driving License/Passport (Any one)
- Residence proof- Rental agreement/Voter’s ID Card/Passport/Ration card/Tel bill or Elec. Bill/Trade License/ Sales Tax Certificate (Any one)
- Signature verification proof-Driving License/PAN Card/Registered Sale Deed/Govt. ID Card(For Govt. employees) (Any one)
Income proof
- Last 3 months Salary Slips
- Latest 6 months bank statement
- Form No.16
- Updated income tax returns (ITR) for last two years
- Photocopy of official ID
Experience proof
- Valid documents to prove relevant experience (In case of first-time buyers)
Other documents (As applicable)
- Existing vehicle ownership proof
- Vehicle details & valuation report
- Insurance and RC copy of vehicle
- Fleet list details (In case of small, medium, and large fleet operators/owners)
- Trade references (In case of first-time buyers, fleet operators/owners & experienced borrowers)
- Property ownership proof (In case of farmers)
- Proprietorship decl., partnership deed, (MOA/AOA), board resolution & two years audited financials (In case of Private/Limited companies, partnership firms, trusts & societies)
- Loan repayment track (if any)