SBI Two Wheeler loan | SBI Bike loan interest rate | Bike loan

As you all know friends that today in this world two wheeler has become the necessity of all our lives. Not only two wheeler has connected with us, but it also had made a huge emotional connection with all of us. Either it is us simple two wheeler or a Superbike. If you want to know about the loan that we provide for simple two-wheeler, then you can check out our other post. But in this post we will talk about the loan that is provided by SBI .That is State Bank of India for you to buy Super bikes. If you don’t know. I will give you idea that SBI provides very good amount of loan for the one who want to take loan to buy their Superbike. So in this article, we will talk about the interest rate, maximum loan amount, minimum loan amount, minimum income requirement, repayment period, processing fees, prepayment charges, eligibility criteria, documents required, features , benefits and how to apply for this loan sitting at your home. So the following article is given below to you:

Processing fee of SBI two Wheeler Loan

Now coming to the start of the article. We will talk about the processing fees or you can say that The Upfront fees that one has to pay for the loan. That one has to apply for now the processing fees of this Superbike loan by SBI is quite good , the processing phase of this loan is 1 percent of the loan amount with some extra GST that is added to it.

Minimum loan amount of SBI two Wheeler Loan

Now we will talk about the other thing that is needed to be known by anyone that is what is the minimum loan amount that one can apply through this loan scheme and get , so we will tell you that the minimum loan amount that one can easily get through This loan scheme is rupees 2.50 lakh, although it depends on many factors, but for an idea it is 2.50 lakhs rupees.

Maximum loan amount of SBI two Wheeler Loan

So coming to the other point that is the maximum loan amount. As one has to buy Superbike therefore it can be of any price. So you will be shocked to know that the maximum loan amount of this loan scheme is quite amazing , the maximum loan amount provided by this loan scheme is has no upper limit .You can take any amount of loan from this loan scheme.

Interest rate of SBI two Wheeler Loan

So many of you are here for knowing the interest rate. As interested plays an important role in any loan either it is home loan , bike loan, car loan, business loan or any other loan and the interest rate provided by this bank loan scheme for super bike is quite quite good . The interest rate provided by this Bank starts from 10.25 percent per annum.

Repayment period or tenure rate of SBI two Wheeler Loan

Now we can see that the SBI loan scheme provides repayment period of up to 5 years, which is quite interesting for any of the user to apply for this loan or minimum of the repayment period depends on the user that in how many time he can easily pay the loan amount.

Prepayment charges of SBI two-wheeler loan

Now we will talk about the prepayment charge is that is the charge that one has to pay before paying all the due loan amount now the pre payment charges for the superbike loan scheme by SBI is quite good that is 1% of the total amount loan and some extra GST is added with it.

Minimum income required for SBI two wheeler loan

Now we will talk about the minimum income that is required for any of the applicant or the person to apply for this loan scheme through SBI. This Factor plays an important role for anyone to apply for the loan, the minimum income requirement for the loan that one can buy Superbike from this scheme is rupees 2.5 lakh per year, which is quite interesting and quite impressive.

Eligibility criteria of SBI Two wheeler loan

1. The person must be the citizen of India.
2. The minimum is required to apply for this loan in 21 years.
3. The maximum age of 65 years can easily apply for this loan.
4. As we have mentioned above that the minimum income requirement to apply for this loan scheme is rupees 2.5 lakh per year.
5. The person must be a permanent employee of the company or the state and the central government Department.
6. The person must be simply self-employed or professional that has SB or CA or time deposit for one year .
7. The self-employed person must also have his IT assesses that has maintained and SB or CA or time deposit for one year.
8. The person who relate with the agricultural background must have and SB or CA or time deposit for one year.
9. The person can also be the existing customer of the SBI bank with satisfactory experience with the bank and having good repayment history.

Features and benefits of SBI two-wheeler loan

• There is flexibility in the loan amount.
•  There is also flexibility in the tenure rate.
•  The processing fee is very low.
• The prepayment charges are also very low .
• The repayment period can also be flexible.
•  The process to apply for this loan is also available in online mode.
•  There is very very less need of the documents.
• The person can also apply for this loan with the any co-applicant to increase the eligibility.

so these were the some of the feature and benefit that one should know before applying for this loan.

How to apply SBI two wheeler loan online?

So as you mentioned above that, you can easily apply for this loan sitting at your home with the mobile or computer through online mode as there is also offline mode, but I will talk about the online mode as it is more preferred by the users who steps are given below:

1. The first step that you have to done is go to the official website of State Bank of India.
2. Now you have to choose the option of loans from the main menu .
3. Now from the drop down menu you have to choose the auto loans .
4. A new window will appear now choose the SBI 2 wheeler loan scheme.
5. Now from that loan scheme you can also choose the superbike loan scheme by SBI, now you will click on the apply button and provide all the personal details that will appear on the new tab.
6. Representative from the SBI will come in contact with you and to verify with you.
7. Now you have also provide all the documents that are needed to for KYC And fill all the bank details .
8. Now apply for the loan and wait for some time after the loan is approved by the bank.
9. Then the eligible loan amount will be transferred directly to your bank account.
10. You can enjoy the loan amount and buy you Super bike.

So these were the main steps or the how to apply for this loan process that one should know before applying for the loan.

Documents required for two wheeler Loan By SBI:

• The person must have his valid ID proof like Aadhar card or PAN card.
• The person must have his residence proof or he can also use passport driving license, electricity bill , telephone bill.
• The person or the applicant must also fill all the application form data required to be done.
• The person has to provide the bank statement of past six months to the bank.
• There is also need of identification of the signature.
• Passport size photos at least two are required if the person is salaried person.
• The latest salary slip is also required if the person is salaried .
• The form 16, TDS certificate and all the deductions certificate are mandatory.
• If the person is self-employed person then income tax return copies of the last two year has to be provided to the bank.
• If the person is self-employed, then he has to provide the business address prove to the bank.

Conclusions:-

So my fellows these all were the interest rate, maximum loan amount, minimum loan amount, minimum income requirement, repayment period, processing fees, prepayment charges, eligibility criteria, documents required, features , benefits and how to apply for this loan scheme. Hope you liked this , till then bye and do read the article given below:-