We realize that there’s significantly more to fund than just cash. We understand that our clients’ fantasies are the master plan, and we take each measure to regard it as such. To this end, we make it a point to sit with every single client searching for a loan, and comprehend their desire before prescribing explicit designs to that suits their needs the best. To make the experience as consistent as could be expected under the circumstances, we keep our loan procedure completely basic and straightforward so our clients can be guaranteed of a thoroughly bother free understanding!
In the event that you are purchasing your first truck or extending your current armada, we have fund arrangements custom fitted according to your necessity. We at Cochin financial Services, offer loans at focused rates for a wide scope of vehicles including transports, trucks, tankers, trailers, light business vehicle and little business vehicles.
In case you’re hoping to begin another light freight business or to extend your payload transportation business with a bigger armada, at that point our Small and Light Commercial Vehicle Loans are ideal for you. Profit loans from us on a wide cluster of smaller than expected trucks, get trucks and vans.
Every loans are prepared quick and easily, and you’ll have the option to proceed onward and get your business out and about in a matter of seconds by any means!
All loans are not created equal, Loans has become a great option for people to use.
For new commercial vehicles
For old commercial vehicles
If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.
Your bank will assess your repayment capacity while deciding the home loan eligibility. Repayment capacity is based on your monthly disposable / surplus income, (which in turn is based on factors such as total monthly income / surplus less monthly expenses) and other factors like spouse’s income, assets, liabilities, stability of income etc. The main concern of the bank is to make sure that you comfortably repay the loan on time and ensure end use. The higher the monthly disposable income, higher will be the amount you will be eligible for loan. Typically a bank assumes that about 55-60 % of your monthly disposable / surplus income is available for repayment of loan. However, some banks calculate the income available for EMI payments based on an individual’s gross income and not on his disposable income.
The amount of the loan depends on the tenure of the loan and the rate of interest also as these variables determine your monthly outgo / outflow which in turn depends on your disposable income.
You repay the loan in Equated Monthly Installments (EMIs) comprising both principal and interest. Repayment by way of EMI starts from the month following the month in which you take full disbursement.
The longer the tenure of the loan, the lesser will be your monthly EMI outflow. Shorter tenures mean greater EMI burden, but your loan is repaid faster. If you have a short-term cash flow mismatch, your bank may increase the tenure of the loan, and your EMI burden comes down. But longer tenures mean payment of larger interest towards the loan and make it more expensive.
Yes, most banks allow you to repay the loan ahead of schedule by making lump sum payments. However, many banks charge early repayment penalties up to 2-3% of the principal amount outstanding. Prepayment penalty may vary according to the reasons and source of funds – if you obtain a loan from another bank for pre-payment the charges are usually higher than when you pay from your own sources. However, you may credit more than your EMI amount into your loan account on a periodic basis and bring down your interest burden as and when funds are available with you. Most banks do not charge a pre-payment penalty if you deposit more than your EMI payable on a periodic basis. Please check such stipulations while availing the loan.
Now apply for a Loan online, All you need to do is provide your details below application form.