SBI Bike Loan : Today We Are Write About Two wheeler loan interest rate SBI . Find out the ins and outs of applying for SBI Bike Loan in 2023. Get the best interest rates and enjoy the convenience of owning your dream bike with SBI’s easy application process.
In this comprehensive guide, we will take you through the process of applying for SBI Bike Loan 2023 in 2023. State Bank of India, one of the most trusted names in banking, offers attractive loan options for those looking to own their dream two – wheeler Whether you’re eyeing a sleek scooter or a roaring bike, SBI has got you covered. Let’s dive into the details!
SBI Bike Loan 2023
In the world of two-wheelers, it’s hard to resist the temptation to ride your dream bike. Whether it’s the thrill of the open road or the daily commute, owning a motorcycle can be a game changer. If you’re ready to get on the saddle and embrace the freedom of the road, State Bank of India (SBI) has your back with SBI Bike Loan 2023.
Scheme: SBI TWO-WHEELER LOAN SCHEME
Purpose: Finance for purchase of new Two-wheeler
viz. scooter/motorcycle/ moped/battery operated/electric vehicles of reputed make (Registration with RTO is mandatory)
Loan to Value of vehicle: 85% of On-Road Price of vehicle
Age Criteria: 18-65 years
Minimum Income Criteria: Salaried & Pensioners -Net Monthly Income ₹. 10,000/-. For others- Net Annual Income of ₹ 1.50 Lakhs
Min Rs.50,000/-, Max Loan Rs 3,00,000/-
Subject to maximum 6 times of Net Monthly Income and applicable EMI/NMI Ratio
Up to 60% for Existing salary package customers of SBI
Up to 50% for all other applicants
Repayment period: Up to 60 Months (Conditions applicable)
SBI Bike Loan
State Bank of India
17.30% per annum to 19.05% per annum
25 lakhs up to Rs
Maximum 4 years
Online / Offline
While considering SBI Bike Loan 2023, it is important to familiarize yourself with the interest rates. SBI offers competitive rates ranging from 17.30% to 19.05% per annum. And here’s the good news: existing customers of SBI can also secure lower interest rates. So, when it comes to financing your ride, SBI ensures that you ride the wave of affordability.
Before you resume your loan application, make sure you have the following documents ready:
Passport size photos
Voter ID or Passport
Verification of signatures from your bank records
Month’s bank statement
Form 16 and latest salary slip for salaried persons
Proof of income including (utility bill or any related documents)
Last two years income tax returns for salaried employees
2.Navigate to the “Auto Loan” section under the “Loans” tab. Select your desired bike loan scheme.
3.Click on “Apply Now”. Fill the application form with your details.
4.Submit the form, and an SBI representative will contact you to guide you through the loan process.
Visit your nearest SBI branch. Contact the bank representative to gather information about the bike loan. Fill the application form and provide the required documents. Submit the form at the branch. Wait for the approval, and once your loan is approved, the loan amount will be transferred to your account.