At present, the Mahindra Reva portfolio cars are available in the price segment of Rs 2.89 lakh and Rs 3.52 lakh (ex-showroom Delhi. SBI currently has a massive network of 13,686 branches across the country, having its presence most of the cities and towns of the country.

Speaking on the matter, SBI Mumbai CGM R N Mehra said, "SBI Car loan will finance 85 per cent of the on road price of Mahindra Reva Electric Vehicles with tenure of 7 years and low interest rate of 12 per cent." He added that the EMI on the loan of Rs 1 lakh will be Rs 1,765, for a period of seven years, under this new finance deal.

Mahindra Reva Electric Vehicles Chief of Operations R Chandramouli, said while commenting on the deal, "With such highly competitive schemes and finance, we are hopeful of getting a good response from our dealers and customers."