Small Commercial Vehicle finance under tie-up with Mahindra & Mahindra Ltd - Business
Small Commercial Vehicle finance under tie-up with Mahindra & Mahindra Ltd
Purpose
- To finance Small Road Transport Operators and First Time Users for purchasing new Small Commercial Vehicles (SCVs) & Electric Vehicles (EVs) manufactured by Mahindra & Mahindra Limited.
- SCVs models: Various models of Jeeto, Supro , Alfa & Pick-up vans and other models manufactured by M & M in same segment EVs models: Treo Auto, Treo Zor, Treo Yaari & E-Alfa.
Features
- Target Group:
- Small Road Transport Operators and First Time Users engaged in transport services who are acquiring new Small Commercial Vehicles (SCVs) & Electric Vehicles (EVs) manufactured by Mahindra & Mahindra.
- Quantum of loan (Min/Max) :
- 85% LTV on on-road price.
- Maximum: Rs.10 lakhs.
- Margin :
- 15% on on-road price.
- Pricing :
- Competitive pricing linked to EBLR
- Collateral Security: Loan to be covered under CGTMSE. CGTMSE fee to be paid by the Bank.
- Repayment Period:
- SCVs: Repayable up to 72 EMIs. (including Moratorium of 1 month).
- EVs: Repayable up to 48 EMIs. (including Moratorium of 1 month).
- Upfront Fee:0.50% of loan amount plus applicable taxes.
Eligibility Criteria
- Small Road Transport Operator having less than10 vehicles.
- Transport operators must have necessary permits/ license/ approval.
- Satisfactory track record with existing banks/FIs.
- Applicant must be MSME, registered in UDYAM portal.
- Borrower has to get min 60% score under scoring model to be eligible under tie-up with M & M.
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