This scheme is aimed at providing financial aid to companies who would be purchasing new vehicles or upgrading old ones for use in their business.

Purpose of Loan

The loan is provided only to entrepreneurs who have a fleet of minimum 10 vehicles and have a requirement of a minimum of 10 vehicles. The loan amount can range from INR 50 lakhs to INR 10 crores

Eligibility Criteria

One needs to have a minimum of 2 years’ experience in the concerned business and should have a 35% or above score under the approved scoring model.

Necessary permits for vehicle operation are also mandatory

Interest Rates

The current rate of interest for this loan ranges from Base Rate + 0.50% per annum to Base Rate + 1.75% per annum

For more details you may Contact to the State bank of India the Contact Details Are given below

Contact details :
State bank of India
Customer service: 1800 425 3800