SBI Two wheeler Loan | Interest Rates | Documents | EMI | 2015

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.



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2015 Interest Rates SBI Two – Wheeler Loan

Tenure

Rate of Interest

Up to 3 years

18.25% p.a.

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:

  1. Statement of Bank account of the borrower for last 12 months.
  2. 2 passport size photographs of borrower(s).
  3. Signature identification from bankers of borrower(s).
  4. A copy of passport /voters ID card/PAN card.
  5. Proof of residence.
  6. Latest salary-slip showing all deductions and TDS certificate-Form 16 in case of salaried persons
  7. Copy of Income Tax Return for last two financial years, duly acknowledged by ITO for professionals, self-employed and others.
  8. Proof of official address for non-salaried individuals.

Eligibility for SBI 2 Wheeler Loan:

  • An Individual between the age of 21to 65 years.
  • A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or
  • A Professional 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).

Source: State Bank of India Website.

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