SBI fleet finance under tie-up with Tata Motor Finance Ltd - Business
SBI FLEET FINANCE UNDER TIE-UP WITH TATA MOTOR FINANCE LIMITED
Purpose
- To finance new vehicles (Small, Light, Medium, Heavy Commercial Vehicles, Passenger Vehicle). E.g. trucks/tankers/ trailers/ tippers/ buses/ luxury buses and passenger vehicles etc.
Features
- Target Group:
- Existing Fleet Operators (For Goods or Passenger transport) Existing Individuals / Firms/ Companies/ Trusts / Society /Institutions / LLPs / Associations
- Quantum of loan (Min/Max)
- Min.: Rs.50 lakhs.
- Max.: Rs.50 Crs.
- 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%) Large Fleet Owner * 100% 70% (Margin 30%) 90% (Margin 10%) Large Fleet Owner * 100% 70% (Margin 30%) 90% (Margin 10%) - No finance for insurance, RTO registration, AMC, extended warranty, other charges has 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). @ Sanctioning authority may allow up to 100% LTV.
- Pricing :
- Competitive pricing linked to EBLR or 6 Months MCLR
- Collateral Security: Nil under the tie-up.
- Repayment Period:
Maximum 72 months including moratorium period of 5 months. Repayment on EMI basis.
- Upfront Fee:0.20% + Taxes.
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.
Last Updated On : Monday, 18-07-2022

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
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Criteria
- Features
- Eligibility
- Terms and Conditions

Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above