SBI's custom-designed car loan product aims to empower both new and existing Uber fleet partners.State Bank of India (SBI), India's largest bank, is partnering with Uber to offer a specialised vehicle loan product tailored for Uber's fleet partners. This collaboration aims to provide accessible financing solutions, streamline loan disbursements, and support the expansion of ride-hailing services across India.
SBI's custom-designed car loan product aims to empower both new and existing Uber fleet partners. This initiative intends to facilitate business growth within the ride-hailing sector and contribute to its overall development in India. The streamlined loan disbursement process aims to assist fleet partners in maintaining optimal operational efficiency.
“At SBI, we are committed to offering innovative financial products that support businesses across India. Our partnership with Uber highlights our focus on providing tailored solutions to a diverse set of customers. By offering affordable financing solutions to Uber fleet partners, we are helping to fuel the growth of the ridesharing sector, while also ensuring that fleet owners have access to the capital they need to succeed,” stated Vinay M Tonse, MD (Retail Business & Operations), SBI.
He emphasises the significance of this partnership in providing tailored solutions to a wide range of customers. By offering accessible financing to Uber fleet partners, SBI aims to stimulate growth in the ride-sharing sector and ensure fleet owners have the necessary capital to thrive.
Easier access to finances
This strategic partnership leverages SBI's extensive financial network and Uber's technological capabilities to enable efficient financial management and accelerated business growth for fleet partners.
“This partnership reinforces Uber’s commitment to its fleet partners and aligns with our vision of fostering growth in India’s ride sharing ecosystem. By providing affordable loans through SBI’s customised offerings, we aim to create an enabling environment that provides fleet partners with the tools they need to scale effectively and contribute to the overall development of the industry,” stated Prabhjeet Singh, President, Uber India & South Asia.
Prabhjeet Singh, President of Uber India & South Asia, emphasises Uber's dedication to its fleet partners and its vision of nurturing the growth of India's ride-sharing ecosystem. This partnership underscores their commitment by offering affordable loan options through SBI's customised offerings. The goal is to establish a supportive environment that empowers fleet partners with the necessary resources to scale their operations effectively, ultimately contributing to the industry's overall advancement.
