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:

S.no Criteria
1 Fleet operator having existing fleet of minimum 10 vehicles.
2 In case of existing Fleet Operators (Goods or Passenger), those having experience of 5 years or more in the same line.
3 Small road transport operators (SRTO) are not eligible to apply for this scheme
4 Loan will be provided for a minimum of 10 new vehicles or minimum loan amount of Rs.50 lakhs
5 Transport operators should hold national/ state route permit and other necessary permits/license/approval.
6 In case of the applicant has already availed loans from anay banks/Financial institutions, he should have Satisfactory track record with them
7 Should be a Income tax assessee

Loan Features:

S.no Feature Details
1 Minimum loan amount Rs.50 lakhs
2 Maximum loan Rs.10 crores
3 Repayment Period Repayment period up to maximum 66 months
4 Interest Rate Very attractive interest rate
5 Type of loan Term loan
6 Nil collateral option Available but subject to excellent credit record and other terms
7 Application form Can be downloaded here  (Upload in our site & link here)

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

1 Application Application
  Bio Data form
  DD for Processing fee / Advocate fee / Valuation fee
2 Proprietor /Partners /Guarantors Brief Profile
  Photo
  Passport/EC ID Card/Driving License
  Telephone Bill / Ration Card
  PAN Card
  IT Return for 2 years
  Assets & Liabilities Statement
3 Unit Partnership 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 Sheet Actual      - Past 3 years
  Estimated - Current Year
  Projected - Next Year
  Projected -  [for Term Loan]
  CMA form
5 Associate Units Brief Profile
  Balance Sheet
  Opinion Report from Bankers
6 Renewal /Enhancement Stock Statement
  Last inspection report
  Term Loan Review
  Copy of last sanction note
  Confirmation of irregularity, if any
7 Take over Copy of sanction letter
  Statement of account for 1 year
  Credit Information Report
8 Property Original Title Deed
  Prior Deeds
  Land Tax Receipt
  Building Tax Receipt
  Possession Certificate
  Location Certificate
  Location Sketch
  Non-RR & LA Certificate
  EC  for 30 years