If you’re looking to start a new light cargo business or to expand your cargo transportation business with a larger fleet, then our Small & Light Commercial Vehicle Loans are perfect for you. Avail loans from us on a wide array of mini-trucks, pick-up trucks and vans.
All our loans are processed fast and effortlessly, and you’ll be able to move on and get your business on the road in no time at all!
We provide finance to all kinds of commercial customers such as:
We provide finance only for vehicles manufactured by TML
We finance all makes of Tata including Jaguar & Land Rovers. This includes a wide range of hatch backs, Sedans, utility vehicles, luxury cars.
We extend up to 100% of financing on vehicles. The maximum quantum of finance varies from customer to customer and product to product at the sole discretion of TMFL.
We charge nominal processing fees and collect actual stamp charges
The Stamp charges are applicable based on terms governed by applicable State laws.
The average TAT for sanctioning a loan is around 2 working days after the submission of all necessary documents
Yes, a copy of the agreement will be provided to the applicant.
Guarantor requirement depends upon the strength of the application
One can contact the nearest branch with necessary document in original.
A proforma invoice from the dealer which mentions the cost of the vehicle would be required in all cases.
Yes, Insurance is mandatory in all cases.
Yes, the RC copy also has to be submitted at any branch within 90 days
Funding is always provided on net of discount basis. If there is a discount on the vehicle, funding will be based on the discounted price.
You become eligible for a Fleet Upkeep Loan after a minimum and satisfactory repayment track on 12 months
Customers having completed a 12-month season loan and having an ‘Excellent’ or ‘Good’ track record are eligible for a Fleet Upkeep Loan. (Should we not define here- what is Excellent and what is Good track record?)
The finance amount will be released to the selling dealer/vendor.
NACH is the most preferred mode of payment.
A customer may foreclose his/her loan account by paying the remaining Principal Amount and other applicable charges.
Upon Termination, you can collect:
Once payment has been received for the entire contract amount along with additional dues if any, an NOC will be provided after terminating the contract and removal of hypothecation. The NOC will be sent to the nearest branch, from where it can be collected.