If you are looking for ways to fund the purchase of your next bike, the SBI Two-wheeler Loan can be a great option. Be it a commuter bike or the newly launched super bike, there is a loan scheme offered by SBI that may fit your requirements. As per your requirements, you can opt for either the SBI Easy Ride Two-wheeler Loan or SBI Super Bike Loan Scheme. Let’s explore these schemes in further detail.
Here are the interest rates and other associated charges of SBI two-wheeler loans:
SBI Two-wheeler Loan Scheme
SBI Super Bike Loan Scheme
12.90% p.a. onwards
12.05% p.a. onwards
2% of the loan amount + GST
2% of the loan amount + GST
*Disclaimer: The interest rates and charges mentioned above are subject to constant change. Contact the lender to cross-check the values prior to making any decision.
Here are certain SBI bike loan eligibility criteria you may be required to meet in order to qualify for the loan:
For Two-wheeler Loan - 21 to 65 years
For Super Bike loan - 21 to 57 years
Employment Type: Salaried, Professional, Self-employed
Credit Score: 700 and above
Alongside this, you may also be required to submit some documents, as listed below:
Completed loan application
3 passport-size pictures
Identity proof: Any one of the following
Voter ID card
Address proof: Telephone or electricity bill
Bank account statement of the last 6 months
Follow these steps to apply for a SBI bike loan online:
Go to the official website of SBI
Navigate to the loans section
Choose ‘Auto Loans’, from the drop-down menu
Select the scheme as per your preference and requirement
Fill in your personal information and contact details in the form provided
Following this, an SBI representative will get in touch with you for further proceedings.
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SBI charges a processing fee of 2% of the loan amount plus relevant service tax, with a minimum of ₹1,000.
No. You can prepay your SBI Two-wheeler Loan without having to pay any additional charges or penalties.
You must be at least 21 years old at the time of loan approval.
SBI Two-wheeler Loan interest rates for regular bikes start from just 12.90% p.a. Interest rates for the Super Bike Scheme start from 12.05% p.a.