State Bank of India Fleet Finance Scheme, SBI Fleet Finance Scheme

State Bank of India Fleet Finance Scheme: State bank of India has been providing various loan services specially designed for Small and Medium Enterprises (SME). One of such products offered by India’s largest bank is SBI Fleet Finance Scheme, which is aimed at providing loan for transport operators owing fleet of commercial vehicles like trucks, trailers, tankers and buses. check more details for SBI Fleet Finance Scheme from below….

Objective of the loan:

To finance new four-wheelers such as trucks/ tankers/ trailers/ tippers/ luxury buses and car etc. Finance for fully built vehicles, chassis, body building, Road Tax, Registration & Insurance is provided under this term loan.

Target group:

This scheme has been designed to target Transport operators owning fleet of commercial vehicles like Trucks, Trailers, Tankers and buses etc

Eligibility for SBI Fleet Finance Scheme:

1Fleet operator having existing fleet of minimum 10 vehicles.
2In case of existing Fleet Operators (Goods or Passenger), those having experience of 5 years or more in the same line.
3Small road transport operators (SRTO) are not eligible to apply for this scheme
4Loan will be provided for a minimum of 10 new vehicles or minimum loan amount of Rs.50 lakhs
5Transport operators should hold national/ state route permit and other necessary permits/license/approval.
6In case of the applicant has already availed loans from anay banks/Financial institutions, he should have Satisfactory track record with them
7Should be a Income tax assessee

Loan Features:

1Minimum loan amountRs.50 lakhs
2Maximum loanRs.10 crores
3Repayment PeriodRepayment period up to maximum 66 months
4Interest RateVery attractive interest rate
5Type of loanTerm loan
6Nil collateral optionAvailable but subject to excellent credit record and other terms
7Application formCan be downloaded here  (Upload in our site & link here)

Following are the details to be provided while applying for the loan:

1 ApplicationApplication
Bio Data form
DD for Processing fee / Advocate fee / Valuation fee
2 Proprietor /Partners /GuarantorsBrief Profile
Passport/EC ID Card/Driving License
Telephone Bill / Ration Card
PAN Card
IT Return for 2 years
Assets & Liabilities Statement
3 UnitPartnership Deed & Partnership Letter
Memorandum & Articles of Association
Certificate of Incorporation/Commencement
Board Resolution
Search Report from Registrar of Companies
SSI Registration
Panchayat Licence
PAN Card
IT Return for 2 years
ST Return for 2 years
Project Report
Power Allocation
Plan / Estimate / Invoices
Pollution Control Clearance
Lease Agreement for hired premises
4 Balance SheetActual      – Past 3 years
Estimated – Current Year
Projected – Next Year
Projected –  [for Term Loan]
CMA form
5 Associate UnitsBrief Profile
Balance Sheet
Opinion Report from Bankers
6 Renewal /EnhancementStock Statement
Last inspection report
Term Loan Review
Copy of last sanction note
Confirmation of irregularity, if any
7 Take overCopy of sanction letter
Statement of account for 1 year
Credit Information Report
8 PropertyOriginal Title Deed
Prior Deeds
Land Tax Receipt
Building Tax Receipt
Possession Certificate
Location Certificate
Location Sketch
Non-RR & LA Certificate
EC  for 30 years

Recommended Articles

Join the Discussion