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

SBI Two Wheeler Loans ✓ Interest Rates 2015 ✓ EMI Calculation✓ Processing Charges on SBI bike loans ✓ Delhi ✓ Mumbai ✓ Cochin ✓ Bangalore ✓ Chennai ✓ Kolkata ✓ Pune ✓ chandigarh ✓Ahmedabad.

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: Updated on 01 August 2015

Scheme

Rate of Interest

SBI Two wheeler loan

18.10% p.a.

Super Bike Loan Scheme

12.85% 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
  • Free Accidental insurance
  • Optional SBI Life cover

SBI SUPER BIKE LOAN SCHEME

SBi offers uper bike loan scheme for the Purchase of new super bikes( Bikes with 500 cc or more engine capacity). Applicant should be more than 21 years old at the time of apply for loan.

Net Income of Applicant should be above Rs.6 Lacs for Super Bike Loans – Salaried, self employed, professionals, business mans & Agriculturist.

Processing Fee:
✓ 1.22% of Loan amount for Normal Bike Loans
✓ Super Bike Loans – 2.00% of the loan amountsubject to minimum of Rs. 6,000/- and maximum of Rs. 20,000/-

Repayment: 36 Months in Normal Bike loans & Upto 5 Years in Super Bikes

Margin: 15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax)..

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 21 to 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).

You Can Calculate Loan EMI Manually with SBI 2 Wheeler Loan EMI Calculator

Enter the following information in the below EMI calculator:
✓ Principal loan amount you wish to avail (rupees)
✓ Loan term (months or years)
✓ Rate of interest (percentage)


Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

EMI Calculation for SBI Two Wheeler Loan as per Loan Tenure Period

Loan Amount Repayment Time Interest Rate EMI Per Month
Rs.50,000 9 Months 18.10% Rs.5983
Rs.50,000 1 year 18.10% Rs.4586
Rs.50,000 1.5 Year 18.10% Rs.3193
Rs.50,000 2 Year 18.10% Rs.2499
Rs.50,000 2.5 Year 18.10% Rs.2084
Rs.50,000 3 Year 18.10% Rs.1810

Now you have to just multiply your loan amount with EMI per Month

Example – You opt 45000 Loan amount for 2 Year so your emi calculation will be Rs.2249.00

What is the best way to apply for an SBI Two Wheeler Loan?

You can applying for a Bike Loan in any of the following ways:
Online by clicking here.
In person at any SBI Bank Loan Center or via Branch directly.

Other Products of State Bank of India:

SBI Home Loan
SBI Credit Card
SBI Car Loan
SBI Business Loan
SBI Property Loan
SBI Education Loan
SBI Fixed Deposit Rates

Source: State Bank of India Website.

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