SBI: How to take SBI Bank Two Wheeler Loan? Interest Rate, EMI Calculator - techandonlinesolution.info

Hello friends, are you also thinking of taking SBI Bank Two Wheeler Loan? If yes then this post is of great use to you because in this post all those factors related to SBI Bike Loan have been discussed which you need to know before taking loan.

Two wheeler loan has become an important part of our life. Every person has to go to different places every day, and for that they need a bike, because we all know how precious time is. SBI Bank offers bike loans at affordable prices and easy process.

SBI Bank is one of the largest public sector bank in India. It offers Two Wheeler Loan and Super Bike Loan to its customers at interest rates starting from 16.25% p.a. SBI Two Wheeler Loan has a maximum loan amount of up to Rs 2.5 lakh and comes with a repayment tenure of 3 years. SBI Super Bike Loan has a minimum loan amount of Rs 2.5 lakh and has a repayment tenure of up to 5 years.

 

SBI Bank Bike Loan Interest Rate Charge? 

Some important information related to SBI Two Wheeler Loan is given below:

SBI Two Wheeler Loan:-

 

 

SBI Bank Bike Loan EMI Calculator.

The applicant has the option of knowing the EMI before availing the SBI Two Wheeler Loan. You can calculate your SBI Two Wheeler Loan EMI using the EMI calculator given below in which you only need to enter the loan amount, interest rate and tenor. The EMI calculator will show your SBI Bike Loan EMI calculation.

 

SBI Bank Two Wheeler Loan Eligibility? 

There are certain eligibility criteria that need to be fulfilled for SBI bike loan application which are given below:

    *Age: Applicant's age should be minimum 21 years and maximum 65 years.

    *Income: Applicant's income should be minimum Rs 1.5 lakh for bike and Rs 2.5 lakh for super bike.

    *Citizenship: Must be an Indian citizen.

    *Good Credit Score: Credit score has a direct impact on your Two Wheeler Loan eligibility. So maintain your high credit score. Click here to check your credit score. 

What are the documents required for SBI Bank two-wheeler loan?

The following documents are required for SBI bike loan application:

    *Photo: 2 passport size photographs of the applicant and the loan application form filled correctly.

    *Identity Proof (Any one): Aadhar Card, Voter ID, Passport, PAN Card etc.

    *Address Proof (Any one): Proof of residential address like utility bill, passport, tax receipt etc.

    *Bank details: Bank account details of the applicant for the last 6 months.

    *Salaried: TDS certificate, Form 16 and latest salary slip showing all deductions.

    *For Self Employed/Professionals: Income Tax Return Copies for the two preceding financial years as accepted by ITO. 

What are the Features and Benefits of SBI Bank Two-Wheeler Loan?

Following are the features and benefits of SBI Two Wheeler Loan:

    *Attractive interest rates of SBI Two Wheeler Loan starts from 16% p.a. and 10.25% p.a. for Super Back.

    *You can use SBI Two Wheeler Loan to buy any type of new two wheeler like scooters, motorcycles, mopeds, super bikes and battery operated vehicles.

    *Income of co-applicants can be clubbed to increase eligibility for SBI Bike Loan.

    *You are provided with a tenure of up to 5 years for loan repayment.

    *The minimum document required by the applicant to apply for SBI Two Wheeler Loan.

    *Super Bike Loan applicants get up to 90% funding if they are SBI Salary Package/Dhan/HNI customers.

    *For Self Employed/Professionals: Income Tax Return Copies for the two preceding financial years as accepted by ITO.

How to apply for SBI Bike Loan?

Follow the steps given below to apply for SBI Bike Loan:

    Step 1: First you go to the official website of SBI.

    Step 2: Click on 'Loan'

    Step 3: In the drop-down menu, select 'Auto Loan'

    Step 4: Now you will see the schemes of 'SBI Two Wheeler Loan' or 'Super Bike Loan'.

    Step 5: Select the plan as per your requirement and click on the 'Apply Now' button.

    Step 6: Now you can fill your contact details.

    Step 7: A representative of SBI Bank will contact you by phone or email. 

These are the FAQs

1. What is the applicant age limit for State Bank of India Bike Loan?

Answer: Applicants age should be minimum 18 years and maximum 65 years.

2. Will I get a loan if I want to buy a battery powered bike?

Answer: Yes, you can get a loan to buy a battery operated bike if it is from a reputed brand.

3. What is the repayment tenure of State Bank of India Two Wheeler Loan?

Answer: SBI Two Wheeler Loan maximum repayment tenure is 36 months.

4. How do I increase my SBI Bike Loan eligibility?

Answer: You can increase your loan eligibility by adding a co-applicant, whose income can be added to your income.

5. Does the maximum amount of SBI loan depend on my salary?

Answer: For SBI Bank Two Wheeler Loan, the maximum loan amount will be up to 6 times the net monthly income of the salaried individuals.

6. Can I get 100% Two Wheeler Loan from SBI Bank?

Answer: You can get a loan up to 85% of the market value of the two wheeler.

7. What are the charges for prepayment in SBI Bank Two Wheeler Loan?

Answer: You can foreclose your two-wheeler loan from SBI with zero charges.

8.Can I get a top-up loan against my existing SBI Bank Two Wheeler Loan?

Answer: SBI offers “SBI Two Wheeler Top Up Loan” to its customers to borrow a certain amount over and above their two-wheeler loan amount.

9. How much margin do I have to pay?

Answer: You have to pay a margin of 25% of the on-road price of the bike and 15% of the ex-showroom price of the super bike.

10. What is SBI Two Wheeler Loan Customer Care Number?

Answer: You can call on given numbers 1800 11 2211 and 1800 425 3800 for any of your queries.