SIB CV Plus

Drive Growth with Flexible Commercial Vehicle Financing

Fleet expansion, upgrade of vehicles and smooth running require access to timely and flexible funds in the transport sector. For goods transport and passenger services, access to relevant funds can help both expansion in a controlled and calibrated manner and avoid overstretching of cash flow. SIB CV Plus is designed to cater to such needs through convenient credit for acquisition of new commercial vehicles, reimbursement towards newly acquired vehicles, and takeovers of loans to reduce financial strain.

Key Features and Benefits

Up to 100% Funding

Flexible Repayment Terms

Attractive Interest Rates

Smooth and Quick Processing

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Here are the key benefits of SIB CV Plus Loan:

Multiple Financing Options - Funding available for new vehicle purchase, reimbursement within 3 months, or takeover of existing commercial vehicle loans
High Loan Amount - Avail loans starting from Rs. 1 Lakh up to Rs. 10 Crore, based on eligibility and requirement
Attractive Interest Rates - Competitive rates of interest with no hidden charges, ensuring cost-effective financing
Maximum Loan-to-Value (LTV) - Get maximum eligible funding on the value of the vehicle or equipment, as per policy norms
Digital Processing - Enjoy fast-track approvals with minimal documentation
Flexible repayment tenure - Choose a repayment period of up to 60 months for better financial management.

Criteria	Requirement
Age	21–65 years (applicant should not exceed 65 at loan maturity)
Loan Amount	Minimum: 1.00 Lakhs Maximum: 10.00 Crore
Business/Employment Stability	Minimum 2 years in current business/profession
Residence Stability	Minimum 2 years at the current address
Credit Score (Individuals)	Minimum CIBIL score of 700
Credit Rating (Non-Individuals)	CMR rating between 1 and 5
Financial Viability	A comprehensive financial and viability check is mandatory.

Document Type	Required Documents
KYC Documents	Individuals - PAN Card, Aadhaar Card (borrower, co-applicant(s), guarantor(s)) Other Businesses - All applicable KYCs of the firm based on the constitution
Income Document	ITR for the last 3 years
Financial Statements	Audited financial statements (last 3 years)
Net Worth Statement	Required for all applicants
Loan Details	Existing loan details, EMI obligations
Bank Statements	Last 12 month's operating account statements (OD, CC, or CA)
Vehicle Documents	Quotation/Proforma invoice for vehicle purchase
Work Orders	Required for contractor profiles
GST Returns	Latest quarterly/half-yearly returns