Documents Required for Intracity Commercial Vehicle Loan
Intracity Commercial Vehicle Loan allows borrowers to pay monthly EMIs comfortably as most of them can not afford to make the lump sum payment due to financial constraints.
Once you decide to apply for Intracity Commercial Vehicle Loan, it is essential to check your commercial vehicle loan eligibility. Lenders are extremely cautious and sanction the loan only after checking the repayment capacity of the borrower. Thorough background checks are conducted before the loan is disbursed as there has been a sudden rise in number of defaulters over a period of time.
To make sure your application for the loan is not declined; you must possess necessary documents and declare your exact source of income for speedy approval.
Below are the general Intracity Commercial Vehicle loan eligibility criteria:
What are factors affecting Intracity Commercial Vehicle Loan eligibility?
Your Intracity Commercial Vehicle Loan eligibility depends on factors like your income, credit score, and current financial obligations.
Credit score: One of the crucial factors considered by your lender to determine your eligibility is your credit score. It is a three-digit number that indicates whether or not you can repay the loan amount without any delays. You will need to maintain a minimum credit score of 750 to secure a Intracity Commercial Vehicle Loan.
Income: Your Intracity Commercial Vehicle Loan eligibility also depends on your income. Since a three-wheeler loan is secured, you will have to convince your lender that you have a stable source of income. A higher-income will also ensure a lower interest rate.
Outstanding loan: Having large outstanding debts will hurt your Intracity Commercial Vehicle Loan. If your lender finds that you have current obligations, you may not be offered a loan.
Tips on how to improve your Intracity Commercial Vehicle Loan eligibility
Intracity Commercial Vehicle Loans can be improved using the following tips:
Documents Required for Intracity Commercial Vehicle Loan
Here is a list of documents required for a Intracity Commercial Vehicle Loan:
Accepted KYC Documents for an Individual Customers:
Deemed to be Officially Valid Documents (DOVD):
*Utility bill, in the name of the customer, not more than 60 days old.
Additional Documents for Salaried Persons
Salaried persons:
Self-Employed:
Additional Document:
Make sure to keep both originals and photocopies of the required documents for loan processing. Based on the above documents, the lender will process your Intracity Commercial Vehicle Loan application, and you can expect a positive outcome on your loan approval.
Mr. Rajiv Bajaj is the Chairman, non-executive director of the Company. He graduated first in class, with distinction, in Mechanical Engineering from the University of Pune in 1988, and then completed his masters in Manufacturing Systems Engineering from the University of Warwick in 1991. He has since worked at Bajaj Auto in the areas of Manufacturing & Supply Chain (1990-95), R&D and Engineering (1995-2000), and Marketing and Sales (2000-2005). He has served on the board of Bajaj Auto Ltd since March 2002 and has been its Managing Director since April 2005. He has won several awards and recognition from various prestigious bodies and institutions for business leadership, entrepreneurship and innovation. His current priority is the application of the scientific principles of Homoeopathy to the task of building a brand centered strategy at Bajaj Auto with the objective of achieving its vision of being one of the world's leading motorcycle manufacturers. His directorships and other full-time positions in bodies corporates are as follows:
Mr. Rakesh Sharma is the non-executive director of the Company. He joined Bajaj Auto Limited, the holding Company in October 2007 as President (International Business) and is now an Executive Director of Bajaj Auto Limited. He led the International Business for over 10 years during which the business grew in scale to nearly INR ~10,000 crores representing close to 40% of Bajaj Auto’s revenues then. He was elevated to the position of Chief Commercial Officer in July 2018 with the responsibility to lead the front-end Business Units. He is a member of the Board of Commissioners of PT Bajaj Auto Indonesia, a subsidiary of Bajaj Auto Ltd. He is the Chairman of the Exports Council of the Society of Indian Automobile Manufacturers (SIAM) and the President of the International Motorcycle Manufacturers’ Association. Prior to joining Bajaj Auto, Mr. Sharma worked for over 20 years with the ICI Group in the chemicals, speciality materials and paints businesses in India and overseas. His last posting was as CEO-Southeast Asia for ICI Paints. Mr Sharma is a Commerce graduate from Delhi University and holds a PGDM from IIM Ahmedabad.
Mr. Kevin D'sa, has acquired a Bachelor's degree in Commerce from Pune University, completed his CA in 1978 and ICWA in 1981. He began his career with Bajaj Auto Limited in September 1978 and has completed 45+ years in BAL. He is presently the President - Retail Finance in Bajaj Auto Limited. Before taking over his current responsibility in 2019, he was heading the Finance function as President (Finance) & CFO of Bajaj Auto Limited for several years. He has also been the CFO of leading Bajaj Group NBFCs like Bajaj Finserv Ltd. and Bajaj Holdings and Investment Limited.
Mr. Pradip Shah is the Independent Director of the Company. Mr. Pradip P Shah runs IndAsia, a corporate finance and investment advisory business. He is also the co-founder of www.Grow-Trees.com, a web-enabled social initiative. Earlier, IndAsia had a joint venture with AMP of Australia for the private equity business. Prior to that, he helped establish the Indocean Fund in 1994, the first foreign India-dedicated private equity fund, in association with affiliates of Chase Capital Partners and Soros Fund Management. Before starting Indocean, he was the founder Managing Director of CRISIL, India's first credit rating agency. Mr. Shah provided technical assistance and training to Rating Agency Malaysia Berhad and MAALOT. He has been honored with a garden of a hundred trees in his name in Israel. Prior to founding CRISIL, Mr. Shah assisted in founding Housing Development Finance Corporation (HDFC), India's first retail housing finance company, in 1977 where he was seconded from ICICI, where he was Project Officer. Mr. Shah has also served as a consultant to USAID, the World Bank and the Asian Development Bank. Mr. Shah holds an MBA from Harvard, is a Management Accountant and ranked first in India in the Chartered Accountants' examinations. He has written articles and given talks in India and in Amsterdam, Abu Dhabi, Bahrain, Bangkok, Copenhagen, Hong Kong, Istanbul, Singapore, Kuala Lumpur, Jakarta, Shanghai, Bali, Colombo, Tel Aviv, London, Oslo, Washington, San Francisco, New York, Chicago, Boston, Perth, Melbourne and Sydney on credit rating housing finance, capital market, venture capital and other subjects. Mr. Shah is Chairman of Kansai Nerolac Paints, Sonata Software, BASF (India), Pfizer Ltd and Director of Godrej & Boyce and Bajaj Auto amongst other companies. He serves as Chairman of the Advisory Board of Infomo Global of Singapore, as member of Dun & Bradstreet International Advisory Board, and member of the Advisory Board of 4FO-X Ventures, Switzerland. He is Member, Banks Board Bureau appointed by the Government of India, was Chairman of IFSC International Retail Business Development Committee, was a member of the Committee for Economic Development of Gujarat post-Covid served on the Justice Easwar Committee for simplifying direct taxes, serves on the Management Committees of the IMC Chamber and Bombay Chamber, was a Director on the Western Region Board of Reserve Bank of India, was the first Chairman of the CII's Financial Sector Committee, and has served as a member of the Finance Commission of the State Government of Gujarat; of the Expert Group on Infrastructure Financing appointed by the Government of India; of the Advisory Board of the Bureau of State Public Enterprises, Government of Maharashtra of the CII National Task Force on Non-Performing Assets; of the SEBI Committee on Venture Capital; of the SIDBI Working Group on Access to Capital Markets for Small Industries; of the Expert Committee, Public Sector Restructuring Program, Government of Gujarat, and of the Gujarat Infrastructure Development Board Task Force on Policy and Implementation. He also serves as Governing Council Member of Somaiya Vidyavihar University and other non-profit organizations and co-founded Harvard Business School Association of India.
Mr. Arun Nathani is the Independent Director of the Company. He is also the Chief Executive Officer and Managing Director of Cybage Software. Cybage is a data-driven company, and this work ethic primarily originates from Arun's thought process of giving more importance to how the analysis of data is applied to decision-making rather than the data alone. This thought process has led to the conceptualization of ExcelShore™ for Digital Excellence, which is a unique data-driven system used for all core decision-making in the organization. Arun started his career as a software design engineer in the USA and has been contributing to software development and quality management ever since. He returned to India in the early ’90s and founded Cybage with the intention of creating one of the most efficient IT service companies in the world that provides a high value chain in the product engineering and IT services space. He believes that the right balance must be struck between being ‘customer-centric’ and ‘employee-centric’ in order to benefit from and provide benefits to both entities. He is a strong believer in the empowerment of the society through education and has been instrumental in establishing and promoting two Corporate Social Responsibility wings of Cybage: CybageAsha and CybageKhushboo. Arun was awarded the ‘CEO of the Year Award’ by the National Awards in IT Excellence. He has also been conferred the ‘CEO with HR orientation Award’ during the Talent & HR Leadership conference organized by World HRD Congress and ET Now. He was honored with the ‘Global HR Excellence’ award at the Asia Pacific HRM Congress. Arun is dedicated towards staying healthy and is very disciplined about it. He encourages all Cybagians to maintain a healthy physical and mental state in order to attain optimal productivity and a balanced personal and professional life. He is a conscious writer, drawing out management lessons from real-life situations and sharing them on his blog www.arunnathaniblog.com, which is regularly read by all Cybagians and a large populace outside of Cybage.
Ms. Smita Mankad has three decades of experience spanning the corporate, social and government sectors, and further, a combination of both grassroots level work and board level governance – unique combinations that give her an unparalleled perspective on both policy and implementation. An Independent Woman Director on top level corporate boards, and an independent consultant to retail, social and craft enterprises offering business planning support to ensure sustainability, where she aims to combine commercial impact with social impact – her area of interest, passion and experience. Smita currently serves as Independent Woman Director on the Boards of Fabindia Limited, Mahindra Heavy Engines Ltd. (MHEL), Blue Planet Integrated Waste Solutions Ltd., Mahindra Rural Housing Finance Ltd., Swaraj Engines Ltd., Imperial Auto Industries Ltd., Bajaj Auto Credit Ltd and DSP India International Financial Services Centre. She is also on the Boards of the Women on Wings Foundation in the Netherlands and India; WOW is an Indo-Dutch organization whose aim is to create 1 million jobs for women in rural India, and TARSHI, an NGO which works on creating safe spaces for young people. She has served on the Boards of Mahindra Vehicle Manufacturing Ltd. till its merger into M&M, Mahindra Renewables (solar), Mahindra Auto Steel Ltd., and Compact India Pvt. Ltd., a company in the area of international humanitarian aid producing rescue food for severely malnourished children. An Economics (Hons) graduate from Lady Shriram College for Women (1989-92) Delhi University, and an MBA from Narsee Monjee Institute of Management Studies (1992-94) Mumbai University, India, she started her career with TATA Motors in export finance, and after 6 years with ABN AMRO Bank in corporate banking product management, moved to Fabindia where she has spent 12 years across various divisions including international business, retail operations and setting up new stores, launching the personal care range, creating systems processes and internal audits, and thereafter managing the Fabindia’s entire sourcing and supply chain its wholly owned subsidiary Artisans Micro Finance Pvt. Ltd. (AMFPL), of which she was Managing Director from 2008 to 2013. She also worked with ORGANIC INDIA from 2013 – 15 on their nutrition, preventive healthcare and wellness enterprise. Smita has participated in Vital Voices programs and received several awards, including the Vedica Women’s Alliance V-WA 50 Award and the Social Innovation Award. She was awarded the Chevening Fellowship at the University of Oxford in 2021. She remains committed to social entrepreneurship, women's leadership, and mentoring, and practices reflexology while running a zero waste-to-landfill home.
