NCC Commercial Vehicle Loan

• Age Criteria:
  • Male: 21-60 years.
  • Female: Minimum age 21-55 years.
• Experience: Minimum Two (02) years’ experience in the same line of business/service as an entrepreneur.
• Business operation must not be illegal by the law of land or environmentally hazardous.
• No classification history.

• Copy of updated Trade License.
• Copy of National ID Card of Business Owner(s) and spouse(s).
• Copy of Up-to-date TIN Certificate of concerned business concern.
• Bank Statement(s) for last 12 months.
• Financial Statement of the business concern.

* Additional documents may be required based on prevailing policy of the bank.

• Joint Registration of the vehicles.
• Payment Assignment and Transport Agreement for the buyer(s) (for rental business).
• Hypothecation of financed vehicle and present & future assets (for other business, if available).
• Personal Guarantee of the applicant (proprietor, directors, partners).
• One Family guarantee, preferably spouse (in case of proprietorship concern).
• 1st Party comprehensive insurance coverage.
• One 3rd party personal guarantee.
• Post-dated cheques in favor of bank covering loan amount.
• Other usual charge documents as per bank’s credit norms.
• Registered Mortgage of acceptable collateral.

* Security arrangement based on the credit worthiness and prevailing policy of the bank.