Financing a used commercial vehicle in Delhi is different from a personal car loan. Lenders assess risk differently for commercial vehicles, loan-to-value ratios are lower, and interest rates are typically higher. Here is the complete picture of commercial vehicle financing options available in Delhi in 2026.
Interest Rates for Used Commercial Vehicle Loans — Delhi 2026
- HDFC Bank: 10.5–13.5% per annum for used commercial vehicles
- Axis Bank: 11–14% per annum
- SBI (State Bank of India): 10.75–13% per annum (lowest for salaried/PSU-linked borrowers)
- Mahindra Finance: 13–17% (more flexible on documentation, serves first-time borrowers)
- Shriram Transport Finance: 14–18% (specializes in commercial vehicles, accepts older vehicles)
- HDFC Bank loan officer tip: Maintaining a CIBIL score above 700 gets you 1–2% better rate
Loan-to-Value (LTV) for Used Commercial Vehicles in Delhi
- New commercial vehicle: Up to 85–90% of on-road price
- Used vehicle (under 3 years old): 70–80% of assessed value
- Used vehicle (3–7 years old): 60–70% of assessed value
- Used vehicle (above 7 years): 50–60% or may not be eligible from banks (NBFCs may still lend)
- Implication: For a ₹10 lakh used Innova Crysta, a bank may lend ₹6–8 lakh; down payment ₹2–4 lakh
EMI Estimates — Used Commercial Taxi Loans Delhi 2026
- ₹5 lakh loan, 12% interest, 3 years: EMI ≈ ₹16,607/month
- ₹5 lakh loan, 12% interest, 4 years: EMI ≈ ₹13,152/month
- ₹10 lakh loan, 12% interest, 4 years: EMI ≈ ₹26,334/month
- ₹15 lakh loan, 12% interest, 5 years: EMI ≈ ₹33,368/month
- ₹20 lakh loan, 12% interest, 5 years: EMI ≈ ₹44,491/month
Documents Required for Commercial Vehicle Loan in Delhi
- KYC documents: Aadhaar, PAN card
- Income proof: ITR (last 2 years), bank statements (6 months), salary slips
- Vehicle documents: RC book, insurance, invoice/valuation report
- Commercial permit copy (if existing operator)
- Passport-size photographs
- Business proof (GST registration, if applicable)