SBI Two Wheeler Loans ✓ Interest Rates 2018 ✓ EMI Calculator ✓ Processing Charges on SBI bike loans ✓ Delhi ✓ Mumbai ✓ Cochin ✓ Bangalore ✓ Chennai ✓ Kolkata ✓ Pune ✓ chandigarh ✓ Ahmedabad ✓ Thane ✓ Hyderabad ✓ Madurai ✓ Jaipur.
SBI provide the best Two- Wheeler loan scheme for you to take a loan for purchase of new Two- Wheeler.
SBI two wheeler loan details
|Interest Rates||11.80% – 17.60%|
|Processing Fees||1.24% – 2.03%|
|Pre payment Charges||Nil|
|Lowest EMI||Rs.361 / thousand|
|Min. Income||Rs.5000 per month|
|Loan Repayment||1 to 3 years|
SBI Bike Loan Interest Rates 2018
Rate of Interest
SBI Two wheeler loan
Super Bike Loan Scheme
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.
✓ 1.22% of Loan amount for Normal Bike Loans
✓ Super Bike Loans – 2.00% of the loan amount subject 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:
- 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:
- 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).
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)
EMI Calculation for SBI Two Wheeler Loan as per Loan Tenure Period
Check how much EMI you have to pay for Bike/Scooter loan per month – below calculated emi’s for 50000 loan for 9, 12,18,24,30 & 36 months respectively.
|Loan Amount||Repayment Time||Interest Rate||EMI Per Month|
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.2244.41
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:
In person at any SBI Bank Loan Center or via Branch directly.
Other Products of State Bank of India:
Source: State Bank of India Website.
Submit your review
i'm not happy
bike new apply
The staff with unwelcome face. Assured with big salary, facilities and amenities. Machines most of the time out of service. Most schemes for only display not implementation. A stiff staff and arrogant security personnel.
If we take sbi 2 wheeler loan , does bank pays the downpayment or we have to pay?
Need a loan, how much time it will take
I applied for two wheeler loan , it sanctioned very fastly and i didn't have to wait so thanks to SBI .
I think sbi is the best bank for any loan, I had applied for the bike loan a two days before in bank and surprisingly it got sanctioned within 2 days with minimum interest rates & processing Fees, Now i am happy that within 1 week i owned my dream bike - Harley Davidson Street 750.