Most taxi operators in Delhi finance their vehicles rather than paying outright. Commercial vehicle loans are widely available from banks, NBFCs, and manufacturer finance arms. With the right lender and documents, you can get a loan within 3–5 working days and be on the road quickly.
Best Lenders for Taxi Loans in Delhi (2026)
- Shriram Finance: Most popular NBFC for used commercial vehicles in Delhi. Finances vehicles up to 15 years old. Rate: 16–22% p.a.
- Mahindra Finance: Strong in used vehicle finance. Good for Mahindra and non-Mahindra vehicles both. Rate: 15–20% p.a.
- HDB Financial Services (HDFC subsidiary): Competitive rates, faster processing. Rate: 14–19% p.a.
- State Bank of India (SBI): Lowest interest rates but stricter eligibility. Rate: 10.5–13% p.a. for commercial vehicles.
- Punjab National Bank (PNB): Good for existing bank customers. Rate: 11–14% p.a.
- UCO Bank: Has special schemes for taxi and autorickshaw operators in Delhi. Rate: 11–15% p.a.
Documents Required for Taxi Loan in Delhi
- Aadhaar card and PAN card (KYC)
- Address proof (utility bill, rent agreement, or Aadhaar)
- Bank statements (last 6 months)
- Vehicle RC and documents (for used vehicle loans)
- Commercial driving licence (PSV badge)
- Income proof (for bank loans — ITR or Form 16)
- Existing permit and fitness certificate (if applicable)
Loan-to-Value (LTV) Ratio for Used Taxi Loans in Delhi
For used commercial vehicles in Delhi, most lenders offer 70–85% of the vehicle's assessed value. For a ₹5 lakh taxi, expect a loan of ₹3.5–4.25 lakh. The remaining 15–30% is the down payment you need to arrange. New commercial vehicles get up to 90–95% financing from manufacturer finance arms.
Monthly EMI Estimate for a Taxi Loan in Delhi
- ₹3 lakh loan at 18% for 3 years: EMI ≈ ₹10,850 per month
- ₹5 lakh loan at 16% for 3 years: EMI ≈ ₹17,550 per month
- ₹8 lakh loan at 15% for 4 years: EMI ≈ ₹22,300 per month
- ₹12 lakh loan at 13% for 5 years: EMI ≈ ₹27,200 per month