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Cent EV connect

1. Title Cent EV Connect -Scheme for Electric Vehicle Charging Station
2. Purpose To finance installation of Charging infrastructure for EVs at Public/ Private places under Franchise model / Standalone Model. The EV charging equipment must be ARAI (Automotive Research Association of India) Certified with AIS-Standards (Automotive Industry Standards).
3. Target Group
  1. Existing and prospective MSME enterprises planning to set up EV Public Charging Station (PCS), EV Captive Charging Station (CCS) and Battery Charging Station (Battery Swapping Stations).
  2. Existing Fuel Stations/Petrol Pumps, Hotels, Restaurants, Commercial/Office Spaces, Housing Societies etc. intending to set-up EV Charging infrastructure points in its operating premises for captive or commercial uses.
4. Nature of Facility Term Loan.
5. Loan Quantum Minimum: Rs. 11 Lakh
Maximum: Rs. 10.00 Crore
6. Margin Minimum - 25%
7. Interest Rate Attractive Rate of Interest
8. Security Primary Security: -
Assets created out of bank finance.

Collateral Security:
SARFAESI compliant immovable property with realisable value of at least 30% (RVS) of loan amount.

CGTMSE Coverage
  1. Up to Rs. 5.00 Crore – CGTMSE shall be extended loan up to Rs. 5.00 Crore
  2. Above 5 Crore and up to Rs. 10.00 Crore subject to Scheme Guidelines.
  3. Hybrid Model is allowed.