HCV and LCV Loan – Singroha Associates
Affordable Financing for Heavy and Light Commercial Vehicles in Panipat
Table of Contents
Introduction
HCV and LCV Loans are tailored financing solutions for purchasing Heavy Commercial Vehicles (e.g., trucks, buses, tippers) and Light Commercial Vehicles (e.g., vans, mini trucks, pickups) to support transportation and logistics businesses. Singroha Associates, a trusted name in Panipat since 2020, offers customized loan options for new and used vehicles. With over 5,000 successful cases, we provide quick approvals, competitive rates, and a transparent process to empower Panipat’s businesses.
Key Features
Our HCV and LCV Loans are designed to support businesses with the following benefits:
- Competitive Interest Rates: Starting at 10% p.a., tailored for commercial vehicles.
- Flexible Loan Amounts: From ₹1 lakh to ₹30 lakh, based on vehicle type and value.
- Flexible Tenure: Repayment periods from 12 to 60 months, suited to business cash flows.
- Quick Processing: Loan disbursal within 4-7 working days with minimal documentation.
- High Loan-to-Value Ratio: Up to 90% financing on vehicle value for new and used vehicles.
- Collateral-Free Options: Vehicle itself as primary collateral; no additional security required.
Types of HCV and LCV Loans
We offer a range of loan options to meet diverse business needs:
- New Vehicle Loan: For purchasing new HCVs (e.g., heavy trucks, buses) and LCVs (e.g., cargo vans, pickups).
- Used Vehicle Loan: For pre-owned vehicles up to 15 years old, with up to 90% financing.
- Refinance Loan: Refinance existing vehicle loans for better rates or terms.
- Top-Up Loan: Additional funding for existing loan borrowers.
- Balance Transfer Loan: Transfer existing loans to lower interest rates.
Our HCV and LCV Loan Providers
We partner with leading banks and NBFCs to offer the best financing options:
| Provider | Loan Amount | Interest Rate | Tenure | Collateral |
|---|---|---|---|---|
| HDFC Bank | ₹3 lakh – ₹25 lakh | 10% – 15% | 12-60 months | Vehicle |
| ICICI Bank | ₹2 lakh – ₹30 lakh | 10.5% – 16% | 12-60 months | Vehicle |
| Axis Bank | ₹3 lakh – ₹25 lakh | 10.85% – 16.9% | 12-60 months | Vehicle |
| Bank of Baroda | ₹2 lakh – ₹30 crore | 10% – 14% | 12-60 months | Vehicle |
| State Bank of India | ₹10 lakh – ₹10 crore | 10% – 15% | 12-84 months | Vehicle |
| Mahindra Finance | ₹2 lakh – ₹25 lakh | 11% – 17% | 12-60 months | Vehicle |
Note: Terms are subject to change based on lender policies and applicant eligibility.
Eligibility Criteria
To apply for an HCV or LCV Loan, you must meet the following requirements:
- Nationality: Resident citizen of India.
- Age: 18-65 years at the time of loan maturity.
- Business Type: Individuals, proprietorships, partnership firms, or companies in transportation, logistics, or captive use.
- Experience: Minimum 2 years in transportation or related business.
- Credit Score: Preferably 650+ CIBIL score; some lenders accept lower scores.
- Documents: KYC (Aadhaar, PAN), business proof (GST returns, ITR), bank statements, vehicle quotation, and valuation report (for used vehicles).
Application Process
Our streamlined application process ensures quick access to funds:
- Visit our Panipat office to fill out the loan application form.
- Submit KYC, business proof, bank statements, vehicle quotation, and valuation report (if applicable).
- Our team coordinates with lenders for document verification and vehicle valuation.
- Receive loan approval and disbursal within 4-7 working days.
Benefits of Choosing Us
Singroha Associates is your trusted partner for HCV and LCV Loans:
- Expert Guidance: Over 10 years of experience with 5,000+ successful cases.
- Fast Processing: Hassle-free applications with minimal paperwork.
- Customized Solutions: Loans tailored to your business needs.
- Transparency: No hidden fees, clear terms, and RBI-compliant processes.
- Strong Network: Partnerships with top lenders like SBI, HDFC, and Mahindra Finance.
Why Panipat Businesses Trust Us
Singroha Associates is a preferred choice for Panipat’s business community:
- Local Expertise: Deep understanding of Panipat’s transportation and logistics needs.
- Client-Centric Service: Personalized support for every business.
- Proven Success: Empowered thousands of local clients since 2020.
- Community Ties: Strong relationships with Panipat’s businesses.
- Ethical Practices: Adherence to RBI guidelines and transparent dealings.