Suppose you want to buy a commercial vehicle on finance and need to know the way. Then worry not; we are here to guide you through the process. We are here going to explain the check whole procedure. As we all know, commercial vehicles are a big asset and cost a big load of money. Most people need a better direction for getting a truck loan. The essential thing which can make your loan process easy is the proper documents and steps to follow. Whether you want a loan from the bank or the online platforms depends on you.
How To Apply For a Truck Loan:-
A person who has a business, A Firm or a fleet owner for business purposes takes a commercial vehicle loan. You will find a few differences between normal and commercial vehicle loans. The documents and the process are almost similar, but the income proof will change. Following is the list of documents which you need to get the loan.
- Passport Size Photographs to fill the form.
- Attested documents for the KYC of that person.
- Income proof documents of the respective person.
- Last 2 years' income tax returns.
- Salary Slip of last 2 years. (If there is a job)
- Bank Statement of last 6 months.
- At last, photocopies of all the required documents.
Documents for KYC:-
- Aadhar Card
- PAN Card
- Residential Address Proof
- Voter's ID Card
Along with all the documents you require for the truck loan is a great CIBIL score. If you have a good transaction history, you can have a good cibil or credit score. If you pay the EMIs on time or have a good transaction history in the bank, you can easily get a loan.
Visit Truck Junction if you want a good loan option on easy EMIs.
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