SBI Commercial Vehicle Loan is a financial product offered by the State Bank of India (SBI) to individuals and businesses for the purchase of commercial vehicles. It provides financing options for a wide range of commercial vehicles like electric, hybrid, and CNG vehicles, as well as ambulances and caravan vehicles made for travel and leisure.
SBI Commercial Vehicle Loan offers a convenient and affordable financing solution for individuals and businesses looking to purchase commercial vehicles at affordable interest rates.
Here is the overview of SBI commercial vehicle loans:
|Minimum Loan Amount
|Rs. 10 lakhs
|Maximum Loan Amount
|Rs. 50 lakhs
|15% of on-road price
|Maximum Repayment Tenure
|Up to 84 months with a moratorium period of 6 months
|8.75% p.a. onwards
|Up to 0.50% of the loan amount + GST
Read LessNote: The interest rates and charges are subject to change.
Ready to apply for a business loan?
SBI commercial vehicle loans offer key benefits like high loan amounts, longer repayment periods, competitive interest rates, and ease of availing - making financing vehicle purchases simpler for businesses.
Here are some of the key advantages of availing a commercial vehicle loan from SBI:
The eligibility criteria for SBI's commercial vehicle loan typically include the following:
Having the required documents ready can help speed up the loan application and approval process. The minimal documentation ensures faster processing for SBI commercial vehicle loans. The documents for an SBI commercial vehicle loan typically include the following:
To apply for an SBI commercial vehicle loan, you can follow these general steps:
Apply for a loan now!
It's a loan offered by SBI to finance the purchase of commercial vehicles.
Visit an SBI branch, obtain the application form, fill it out, and submit the required documents for review.
Various types, including trucks, buses, tippers, light commercial vehicles, and more.
Up to Rs. 50 lakhs, subject to eligibility and other factors.
Interest rates range from 8.75% per annum, and the repayment period can extend up to 84 months.
Yes, a 15% margin on the on-road price is required.
The repayment period can extend up to 84 months.
Yes, both new and used commercial vehicles are eligible for financing.
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