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Loan Eligibility

Car / Commercial Vehicle Eligibility Criteria

We understand that each individual or business has unique circumstances, which is why our eligibility criteria are designed to accommodate a wide range of applicants. Whether you're a salaried individual, self-employed professional, or a business owner, we offer loan solutions for various profiles. The eligibility factors typically considered include your income, credit history, employment stability, and the vehicle's age and condition.

Commercial vehicle loan eligibility for new commercial vehicles includes:

2 years of stable employment for salaried individuals and 2 years of business experience for self-employed individuals
Salaried individuals must be employed in either private/limited companies, partnership firms, societies, trusts and associations that must have been in existence for a minimum period of 2 years
Private/Limited companies, partnership firms, trusts & societies Companies need to provide 2 years of audited financials
In case individual borrowers, first-time buyers and fleet operators/owners, internal/external guarantors may be required
Applicants must be residing at their present address for a minimum period of 2 years • Existing fleet operators and vehicle owners must show proof of ownership of one or more commercial vehicles between 1 and 3 years

Commercial vehicle loan eligibility for old commercial vehicles includes:

Prospective borrowers need to have relevant experience between 3 to 5 years
A minimum of one year of ownership of at least 2 vehicles
A minimum of one year repayment track of commercial vehicles
Please note that this is just an indicative list of criteria. Actual eligibility for a commercial vehicle will depend on many factors including our Fullerton India policy at the time

Required Documents for Commercial Vehicle Loan

Duly led application form with attached photograph
2 passport size photographs
A cheque for processing fee
All KYC documents for ID, address, and age proof
Firme buyers may need to provide relevant experience proof with the help of valid documents

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