SBI FLEET FINANCE UNDER TIE-UP WITH TATA MOTOR FINANCE LIMITED

Business Current AccountsSME LoansSME Collection Products
Show More
SME Fixed DepositsSME Government SchemesApply OnlineExternal Benchmark based Lending Rate(EBLR) for MSME LoansOnline Lead StatusContact Details of AGM SMEsList of SME Intensive BranchesDigital collection ProductsDigital LoansLoan Against PropertyTransport Vehicle loansSupply Chain FinanceEnergy Efficient ProductsOther Business Loans
SBI FLEET FINANCE UNDER TIE-UP WITH TATA MOTOR FINANCE LIMITED
  • Features
  • Eligibility
Apply Now

Objective/ Purpose

  • To finance new vehicles (Small, Light, Intermediate, Medium, Heavy Commercial Vehicles, Passenger Vehicles). E.g., Trucks / Tankers / Trailers / Tippers / Transit Concrete mixers / Pickups / Buses / Luxury Buses and Passenger Vehicles.
  • Electric / CNG / LNG / Hybrid Commercial Vehicles can also be financed.

Features

  • Target Group:
    • Existing Fleet Operators & Captive Users (for Goods, Logistics, Services or Passenger transport) Existing Individuals / Firms/ Companies/ Trusts / Societies / Institutions / LLPs / Associations / Business Enterprises / Contractors / Mine Owners / Port Owners / Operators / Aggregators etc. who are having existing fleet of minimum 10 commercial vehicles.
  • Facilities Available : Term Loan
  • Quantum of Loan :
    • Minimum: Rs.50 lakh.
    • Maximum: Rs.50 crore
  • Pricing : Competitive pricing linked to EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%) or 6 Months MCLR
  • Borrower's Margin / Contribution : LTV% & Margin Requirement
    LTV% & Margin Requirement
    Segment LTV on Chassis/ Prime Mover LTV on Body/ Trailer LTV on Fully Built vehicles
    Large Fleet Owner * 100% 70% (Margin 30%) 90% (Margin 10%)
    Strategic **/Super Strategic Customer *** 100% 80% (Margin 20%) 95% (Margin 5%)
    Captive users 100% 40% (Margin 60%) 90% (Margin 10%)

    No finance for Insurance, RTO registration, AMC, extended warranty, other charges. To be borne by the Customer. (* Large fleet owners: Having 10-25 commercial vehicles, **Strategic fleet owners: having more than 25 to 50 CVs, *** Super strategic fleet owners: having more than 50 CVs).

  • Repayment Period : Maximum 72 months including moratorium period of 5 months. Repayment on EMI basis.
  • Processing Fee/ Upfront Fee : 0.20% + Taxes.
  • Other Charges: Prepayment: Up to 2 years, 4% of the outstanding amount. Beyond 2 years, 2% of the outstanding amount.
  • Collateral Security :

    Nil under the tie-up.

  • Special Feature :
    • Existing Fleet Operators (Goods or Passenger) having experience of 3 years or more in the same line.
    • New units floated by existing Fleet Operators / Individuals / Promoters who are engaged in transport activity with experience of 3 years or more can also be considered.
    • Fleet operator having existing fleet of minimum 10 vehicles
    • Transport operators holding national/ state route permit and other necessary permits/ license/ approval.
    • Borrower should get minimum 50% score under scoring model to be eligible under tie-up with TMFL.
    • Minimum CIBIL Score of main promotors/ partners/ directors should be 650.

Eligibility Criteria

  • Existing Fleet Operators (Goods or Passenger) having experience of 3 years or more in the same line.
  • Fleet operator having existing fleet of minimum 10 vehicles or Requirement of minimum 10 new vehicles or minimum loan amount Rs.50 Lakhs.
  • Transport operators holding national/ state route permit and other necessary permits/ license/ approval.
  • Satisfactory track record with existing banks/FIs.
  • Income Tax Assessee (personal & Business)
  • Borrower has to get min 50% score under scoring model to be eligible under tie-up with TMFL.
  • Minimum CIBIL Score of main promotors/ partners/ directors should be 650.

Apply Now

Last Updated On : Friday, 09-02-2024

Interest Rates

8.50%* p.a. onwards

w.e.f. 05.04.2024

*T&C Apply.

 

View All
SEE PRODUCTS APPLY NOW
Quick Links