• The tenure of the loan may vary from 12 to 60 months, depending upon the nature of the deal and the repayment capacity
• Repayment can be made through post-dated cheques (PDCs) / ECS / NACH or through Auto-Debit (in the case of ICICI Bank account holders)
• Prepayment of the loan is allowed, at a charge indicated on the ‘Service Charges’ page

Interest is charged on a flat rate based on the scheme applicable for the particular product.

Yes you can, your application can be considered based on the credit strength of your co-applicant Approval will be at the sole discretion of ICICI Bank Ltd.

• Prepayment of the loan is allowed, at a charge indicated on the ‘Service Charges’ page. Click here to navigate.

• Any individual / partnership firm / company with more than two years of business experience.
• Existing owner of at least two commercial vehicles.
• Captive customers (who use equipment for supporting own business and not to generate direct revenue through equipment) and transporters.

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 as applicable
• Work Contracts to be submitted for higher quantum of funding.
• Udyam Registration Certificate (URC) is mandatory to classify the loan under MSE* (subject to norm fulfilment)
  *Micro & Small Enterprise