Business mobility relies on an effective transportation system. Be it a small start-up or a logistics company, applying for commercial vehicle loans can sort out their mobility needs. Top banking and non-banking financial companies (NBFCs) offer a lifeline to businesses with commercial vehicle loans at affordable interest rates. With most of the conversations around commercial vehicle loans concentrated towards application and documentation processes, digital payment know-how is often overlooked.
Digital payment solutions simplify the loan payment process and ensure a seamless customer journey. Here are some of the tips for safety and security while making online payments for commercial vehicle loans:
Verify Account Details
Whether you are using UPI apps or integrated bill payment systems, always verify the loan account details before making an online payment. This ensures the money is credited to the right account.
Protect Your Digital Certificates and Identifiers
As the world has moved to digital payments, taking measures to protect your digital certificates and identifiers is crucial. Do not share IDs, passwords or OTPs with anyone to avoid falling into the digital identity theft trap.
Do Not Share Account Information
When you apply for a commercial vehicle loan and get the loan approval, a loan account is created. Many fraudsters try to steal crucial account information on call or SMS. Avoid sharing any information with unknown individuals and sources.
Make Payment via Reliable Sources
These days, multiple payment sources are available. It is a good practice to avoid using account details, payment links or QR codes from unauthorised sources. You should always check the repayment options offered by the lender to ensure seamless transactions.
Change Password Regularly
This is a common practice in digital payment systems. Changing the password regularly minimises the chances of cyber-attacks. You should create a strong password, which is difficult to crack to ensure maximum security.
Top lenders offer commercial vehicle loans at competitive rates along with other attractive features. You must know about the available repayment options to choose a payment mode convenient for you.