Fleet-Finance - MSME Loan / SME Loan Scheme | SBI - Business
Fleet Finance
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. Electric/ Hybrid commercial vehicles can also be financed.
Features
- Target Group: Existing Fleet Operators & Captive Users, Business Enterprises, contractors, Mine owners, Port owners/ operators/ aggregators etc.
- Quantum of loan (Min/Max)
- Minimum: Rs.50.00 lakhs.
- Maximum: Rs.50.00 Crs.
- Margin (%) : Margins are linked to the scores under scoring model.
Scores between 50% to 60% Scores above 60% For cost of chassis
5%
0%
For cost of body
30%
30%
For fully built model
10%
5%
Other expense (Road tax +Insurance+ Registration)
Minimum 50%
Minimum 50%
- Pricing : Competitive pricing linked to EBLR / 6 Months MCLR
- Repayment Period:
- Scores between 50% to less than 60%: Max 60 months.
- Scores 60% and above: Max 66 months Repayment in EMI basis.
- Negotiated repayment can be done depending on cash accruals.
- Upfront Fee: 1% of the loan amount
Eligibility Criteria
- Minimum 3 years of experience in transport industry and other businesses. Fleet operator having existing fleet of minimum 10 vehicles.
- 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).
- Eligibility is linked to the scores obtained under scoring model. Borrower has to get min 50% score under scoring model to be eligible for SBI Fleet Finance Scheme.
Collateral Security
- Up to Rs.2 Cr: No collateral security. Loans will be covered under CGTMSE. Guarantee fee to be borne by the borrower.
- Above Rs.2 Cr: Min 20% tangible collateral including unencumbered vehicles in the existing fleet (current resale value to be taken)
(In case, the borrower has scored minimum 60% and above under the scoring model, Collateral Security is not required).
Last Updated On : Thursday, 14-07-2022

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