SBI Two Wheeler Loans: Get Details on Documents, Interest Rates, EMI and Processing Charges on SBI bike loans in Delhi, Mumbai, Cochin, Bangalore, Chennai, Kolkata, Pune and chandigarh.
SBI provide the best Two- Wheeler loan scheme for you to take a loan for purchase of new Two- Wheeler.
Interest Rates SBI Two – Wheeler Loan
Rate of Interest
Up to 3 years
SBI offers Best in Class Two wheeler Loans in India:
- No Advance EMI
- Lower interest rates Lowest EMI
- LTV 85% of ‘On Road Price’ of vehicle
- Interest Calculated on Daily Reducing Balance
- Flexibility of payment of EMI anytime during the month
- Low processing fee (only 1.22% of loan amount)
- Free Accidental insurance
- Optional SBI Life cover
Processing Fee: 1.22% of Loan amount
Repayment: 36 Months
Margin: You have to Atleast 15% of the on road price of 2wheeler.
Documents Required for SBI Two Wheeler Loan
The following papers are to be submitted along with loan application:
- Statement of Bank account of the borrower for last 12 months.
- 2 passport size photographs of borrower(s).
- Signature identification from bankers of borrower(s).
- A copy of passport /voters ID card/PAN card.
- Proof of residence.
- Latest salary-slip showing all deductions and TDS certificate-Form 16 in case of salaried persons
- Copy of Income Tax Return for last two financial years, duly acknowledged by ITO for professionals, self-employed and others.
- Proof of official address for non-salaried individuals.
Eligibility for SBI 2 Wheeler Loan:
- Individual between the age of 21-65 years of age.
- A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or
- A Professionals or self-employed individual who is an income tax assessee or
- A Person engaged in agriculture and allied activities.
- Minimum Net Annual Income Rs. 75,000 (for regular petrol/diesel/gas operated scooters & motor cycles) and Rs. 60,000 (mopeds and battery-operated Two-wheelers)
Other Products from SBI:
Source: State Bank of India Website.
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