SBI Bike Loan – Two Wheeler Loan 2024 Interest Rate, Eligibility

SBI Bike Loan – Two Wheeler Loan 2024 Interest Rate, Eligibility: Hi friends, If you have a dream of buying a motorcycle then you can fulfill your dream with a Two Wheeler Loan. SBI is providing bike loans to customers at attractive interest rates. You can apply for this loan both online and offline. If you fulfill all the conditions of the loan then you can get instant loan.

In this article, we will know in detail that SBI Bike Loan What is the interest rate, eligibility, documents of this loan and how can we apply for this loan etc., so read this article till the end.

SBI Bike Loan Details

Bike loan is a Secured & Unsecured loan. Under secured loan, you have to give some security to take the loan but under unsecured loan you do not have to give any security. To take an unsecured bike loan CIBIL Score Must be very good. If you have good credit score then you can take loan at low interest rate.

If your credit history is very good and you have a good employment from which you are getting a steady income, then you can take advantage of the bank’s attractive bike loan interest rate 2023. Under State Bank of India Bike Loan, you can take a loan to buy any type of bike.

SBI mainly offers two types of bike loans. There is SBI Two Wheeler Loan Scheme and the other There is a Super Bike Loan Scheme. In both these loan schemes, the interest rate and loan amount of the loan can be different.

SBI Two Wheeler Loan Key Features

Loan name	SBI Bike Loan 2023
Lender	state Bank of India
Rate of interest	For SBI Two Wheeler Loan Scheme : 17.30% to 19.05% p.a. For Super Bike Loan Scheme : Based on the CIBIL score of the applicant.
Loan amount	SBI Two Wheeler Loan Scheme: Up to Rs 2.50 lakh. Super Bike Loan Scheme: Up to Rs.25 lakh.
Processing fee	2.00% of loan amount + GST (Min: 1000/ + GST)
Loan tenure	For SBI two wheeler loan: 3 years. For Super Bike Loan: 4 years.
Application Mode	online / offline
Official website	https://sbi.co.in/

SBI Bike Loan interest rate 2023

State Bank of India mainly offers two types of bike loan schemes. Both of them have different interest rates which you can see here:

The interest rate for SBI Two Wheeler Loan Scheme: 17.30% to 19.05% p.a.

Interest Rate for Super Bike Loan Scheme:

CIBIL Score	Salaried Customer / Defense Pensioner	other
less than 741	3.50 + 1yr MCLR	4.50+ 1yr MCLR
731-740	5.00+ 1yr MCLR	6.00+ 1yr MCLR
700-730 and (New to credit)	10.75+1yr MCLR	11.75+ 1yr MCLR

Bike loan of any lender, it is important for you to be properly aware of the interest rate of that loan so that you do not face any kind of trouble at the time of loan repayment. The loan interest rate greatly affects the EMI of your loan.

SBI Two Wheeler Loan Scheme

You can take this bike loan to buy two wheelers such as scooters, mopeds, battery operated two wheelers, motorcycles. The features of SBI two wheeler loan scheme are as follows:

• The interest rate of this loan starts from 17.30% to 19.05% p.a.
• Loan Amount 25% “ On-Road Price ” of the vehicle.
• Age should be between 21 to 65 years to apply for this loan.
• Under this loan scheme, you can take a minimum loan amount of Rs 30,000 and maximum amount of Rs 2.50 lakh.
• The loan tenure is up to a maximum of 3 years.
• The processing fee for SBI Two Wheeler Scheme is 2.00% of the loan amount + GST Minimum ( Rs 1000 + GST).
• can avail loan amount up to 6 times their net annual income and another 50%.

Eligibility for SBI Two Wheeler Loan Scheme:

• Applicant’s age should be between 21 to 65 years.
• Minimum Income: Minimum NMI Rs 12,500 and Minimum NAI Rs 1,50,000.
• You can take this loan for a maximum loan tenure of 3 years.
• Employees of state and central government, permanent employees of corporations and private sector listed companies, employees of public sector undertakings having an account with SBI Bank are eligible.
• Businessmen having savings / current / fixed deposit accounts, self- employed and other customers of income tax return depositors who have satisfactory account operation for one year can apply.
• Those who have a good repayment history.

Super Bike Loan Scheme

As the name suggests, you can take this SBI Bike Loan to buy a super bike. Features of Super Bike Loan Scheme are as follows:

• The margin required for this loan is a minimum of 15% of the on-road value of the vehicle.
• This SBI Two Wheeler Loan You must be between 21 to 57 years of age to apply.
• maximum loan tenure is up to 4 years.
• The minimum loan amount under this loan is Rs 1.50 lakh and the maximum loan amount is Rs 25.00 lakh.
• You can see the interest rate of this loan in the interest rate section above in this article.

Eligibility for Super Bike Loan Scheme:

• Applicant’s age should be between 21 to 57 years.
• Salaried/Pensioner: The net annual income of both the applicant or the co-applicant (if any) should be Rs.3 lakh.
• Employed businessmen, owners, partners and other income tax holders including traders should be Rs 3 lakh.
• Agriculture Scientist: The annual income of both the applicant or the co-applicant should be Rs 4 lakh.
• State and central government employees, permanent employees of corporations and private sector listed companies, employees of public sector undertakings can apply for this loan.
• Self-employed, Professionals, Businessmen, Proprietorship/Partnership Firms and others who are eligible as Income Tax Payers.
• Agriculture and agriculture related persons can also apply for SBI Two Wheeler Loan.

SBI Two Wheeler Loan Benefits

• You can apply for SBI Bike Loan at any time to buy the bike of your dreams.
• State Bank of India mainly offers two types of Two Wheeler Loan Schemes: SBI Two Wheeler Loan Scheme and Super Bike Loan Scheme.
• Loan amount upto 2.50 lakh under SBI two wheeler loan and up to a maximum of Rs 25 lakh under the super bike loan scheme.
• If your CIBIL score is very good then you can get SBI Two Wheeler Loan at low interest rate.
• You can apply for this loan both online and offline.
• You can take this loan for a maximum loan tenure of 4 years.

Document Need for SBI Bike Loan

Before applying for a State Bank of India bike loan, you should keep all your necessary documents together so that whenever the lender asks you for documents, you can show them all the documents immediately. To apply for SBI bike loan, you need to have the following documents:

• Customer’s bank account details for the last 6 months.
• 2 passport size photographs
• Verification of signatures from bank records
• Pan Card, Voter ID Card, Passport
• Residence certificate: Telephone bill, electricity bill or any other document.
• Latest pay slip and TDS certificate in case of salaried persons – Form 16.
• employed, businessmen, and others to submit a copy of the Income Tax Return of the last 2 financial years duly acknowledged by the Income Tax Officer.
• It is not mandatory for farmers to give income tax return.
• Proof of official address of unpaid employees.

How to Apply for SBI Bike Loan ?

If you fulfill all the conditions of this loan then you can apply for it both online and offline. To apply, follow the steps given below:

SBI Two Wheeler Loan apply online

• Visit to the SBI bank official website
• In the loan option on the home page of the website Auto loans Click on the option.

• The list of all loans will open in front of you.
• Here you will see both the schemes of SBI Bike Loan.
• Click on the loan scheme you wish to apply for.
• to apply apply now Click on the option.
• The loan application form will open in front of you.
• Enter the required details in it and submit the form.
• After this the representative of the bank will contact you and the loan process will be issued further.

How to apply offline ?

• To apply offline, you have to first go to your nearest State Bank of India branch.
• Contact the representative of the branch who will provide you complete details about the bike loan.
• Your documents will be verified.
• If you are eligible for the loan then you have to fill a form.
• Attach the documents with this form and submit it to the bank.
• If your SBI Bike Loan in Hindi is approved then the loan amount will be transferred to your bank account.

SBI Two Wheeler loan EMI Calculator

Before applying for any loan, you should calculate the EMI of that loan. You can calculate the EMI of your loan by visiting the official website of the bank with the help of Bike loan EMI Calculator. By calculating the EMI of the loan, you can find out how much you will have to pay at the time of repayment of the loan. Bike loan EMI mainly depends on three factors: loan amount, interest rate and loan tenure.

SBI Bike loan Customer Care Number

If you want to get other information about this loan, then you can get information by calling the customer care number of the bank.

• Toll free number: 1800 1234 / 1800 11 2211 / 1800 425 3800 / 1800 2100 / 080-26599990

My Last World:

In this article we have you SBI Bike Loan Provided complete information about. If your dream is to buy a bike and you do not have money then you can join SBI Bike Loan.

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FAQs on SBI Bike Loan