SBI Two Wheeler Loan

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SBI Two Wheeler Loan Key Features

SBI Two Wheeler Loan Interest Rate 11.83%* per annum
Min Loan Amount ₹ 10,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 4 years
Lowest EMI / Lac ₹ 2,625
Minimum Net Monthly Income Salaried – ₹ 7,000, Self Employed – ₹ 6,000
Age Criteria 21 years(At Application) to 65 years(At Loan Maturity)
Types of Vehicle For All New Two-Wheelers (Bikes, Superbikes, etc.)
Processing Fee Up to 3% of the Loan Amount.
Foreclosure Charges 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months)
Basic Documentation ID Proof, Address Proof, Bank Statement

SBI Two Wheeler Loan

SBI Two Wheeler Loan has become essential for an individual to fulfil his dream of buying a new bike at any cost with any financial resource. SBI is providing the opportunity of a lifetime by providing Two Wheeler Loans with Lowest Interest Rates & Affordable EMIs.

Advantages of SBI Two Wheeler LoanSBI Two Wheeler Loan

Two Wheeler Loan is a daily necessity and has become a crucial part of our life. Many people have to visit different places, and they require a bike for that, as time is essential for all of us. Most of the college-going students need a motorcycle, as sometimes buses may not available at the timings of college. Here is the loan provided by SBI for purchasing Two Wheelers at affordable prices and easy Process. 

  1. Enjoy the benefit of extremely low processing fees.
  2. Quick Disbursal of Loan Amount
  3. Flexible EMI payment option on any day of the month.
  4. Attractive Rate of Interests
  5. Easy Repayment and Prepayment Methods

SBI Two Wheeler Loan Eligibility

Your ability to repay the loan is the biggest factor in deciding whether you’ll be eligible or not for the SBI two-wheeler loan. The following are the major criteria: 

  • An individual between the age of 21 to 65 years can apply for the loan. 
  • If you have an average monthly income of Rs 7000, you’re eligible for the SBI two Wheeler loan.
  • Cibil Score has a direct impact on your eligibility for the loan. If you have a low cibil score, the chances of your application being rejected are high. 

SBI Two Wheeler Loan Interest Rate, Fees and Charges

Interest Rate Starts at 11.83% p.a.
Processing Fee Up to 3% of the loan amount (maximum)
Prepayment Charges From 3% to 10% of the outstanding principal
Pre-payment charges Within 4 to 6 months – 10% of principal outstanding
Within 7 to 12 months – 6% of principal outstanding
13-24 months – 5% of principal outstanding
Post 24 months – 3% of principal outstanding
Prepayment is not allowed within three months of EMI repayment

SBI Two Wheeler Loan Documents Required

1. Salaried Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

2. Self-Employed Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

SBI Two Wheeler Loan EMI Calculator

The applicant has the option to know the EMI’s before availing SBI Two Wheeler Loan. Thus, you can easily check through the link below:

Two Wheeler Loan EMI Calculator

SBI Two Wheeler Loan Types

SBI offers various sorts of credits to its clients and you have the choice of picking one of them according to your prerequisites. You have the accompanying two alternatives:

  • Bike Loan – If you wish to purchase a bike and wish to back it then HDFC has the best proposal for you. You can benefit this advance at an appealing loan cost of 12%.
  • Super Bike Two Wheeler Loan – If you’re intending to purchase a Superbike and are searching for reserves, at that point this is the best arrangement accessible for you at an alluring financing cost of 11.83%.

SBI Two Wheeler Loan Pre Calculated EMI

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

How to Apply for Two Wheeler Loan

  1. You can apply for SBI Two Wheeler Loan online by visiting Dialabank’s online portal.
  2. Fill the  Application Form for Two Wheeler Loan
  3. Our Relationship Managers will get in touch with you at 9878981166
  4. Get customized help and pick the most appropriate offer dependent on your necessities.

SBI Two Wheeler Loan for Top Selling Bikes

Other Available Products from SBI Bank 

SBI Personal Loan SBI Gold Loan SBI Home Loan
SBI Credit Card SBI Two Wheeler Loan SBI Education Loan

 

FAQs for SBI Bank Two Wheeler Loan

What is SBI Bank Two Wheeler Loan?

Purpose of SBI 2 Wheeler Loan State Bank of India’s 2 wheeler loan is designed to help individuals all over India purchase a new motorcycle or scooter of their choice with minimum hassle. Apart from scooter/motorcycle other 2 wheeled transport including moped and battery-operated vehicles.

✅ How can I get Two Wheeler Loan from SBI Bank?

To apply for an SBI bike loan, follow the steps given below:

  • Visit the official website of State Bank of India
  • Click on ‘Loans’
  • In the drop-down menu, select ‘Auto Loans’
  • On the next page, you will see options for ‘SBI Two Wheeler Loan Scheme’ or ‘Super Bike Loan Scheme’
  • Click on the ‘Apply Now’ button under the scheme of your choice
  • You will be redirected to a page where you can fill in your contact details
  • An SBI representative will get in touch with you by phone or email

How does SBI Bank Two Wheeler Loan work?

State Bank of India offers two-wheeler loans for a maximum amount of up to 2.50 lakhs (and more for a super bike loan). The maximum repayment tenure is up to 3 years. The interest rate starts at 16.45% p.a. for bikes and 10.65% p.a. for super bikes. The documentation is minimal and the process is hassle-free making it one of the easiest ways to own your dream bike.

What is the Two Wheeler Loan Interest Rate in SBI Bank?

The interest rate starts from 11.83% onwards based on your credit score and income criterion.

For Bikes : 16.45% p.a. For Super Bikes: 10.65% p.a.

How to check Two Wheeler Loan status in SBI Bank?

Once you have applied for an SBI Two Wheeler Loan, you can check the status of your two-wheeler loan either online or offline. After you have applied for a two-wheeler loan you will be given a reference number. You will have to use the reference number and your registered mobile number to check the status of your two-wheeler loan.

How to calculate Two Wheeler Loan Interest in SBI Bank?

  • Interest Calculated on Daily Reducing Balance.

What is the maximum loan amount I can avail on Two Wheeler Loan from Axis BANK?

  • Min Rs.30,000/-, Max : < Rs.2.50 lacs (For Loan Amount > 2.50 lacs Super Bike Scheme)
  • For salaried: The maximum loan amount that can be granted would be restricted to 6 times the net monthly income of salaried persons (i.e., net of all deductions including actual monthly tax deductions at source).
  • For others: The maximum loan amount that can be granted would be restricted to 50% of the net annual income as per ITR after netting off depreciation and repayment of all existing loans

What is the loan tenure of SBI Bank Two Wheeler Loan?

Repayment: 36 Months in Normal Bike loans & Up to 5 Years in Super Bikes.

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

Total loan value provided is up to 85% of the market price of the 2 wheeler in question.

How much Processing Fee is applicable on SBI Bank Two Wheeler Loan?

1.22% of the Loan amount for Normal Bike Loans
Super Bike Loans – 2.00% of the loan amount subject to a minimum of Rs. 6,000/- and maximum of Rs. 20,000/-

What are the EMI options available on SBI Bank Two Wheeler Loan?

  • Flexibility of payment of EMI anytime during the month.
  • If you apply for a 2 wheeler loan from SBI, your lowest EMI for ten thousand amount will be ₹ 335.

What are the charges for Prepayment in SBI Bank Two Wheeler Loan?

You can foreclose your two-wheeler loan from SBI with Nil charges.

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

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

Do I need to provide a guarantor to avail a Two Wheeler Loan from SBI Bank?

Yes, a single guarantor is to be provided.

How to get SBI Bank Two Wheeler Loan Statement?

SBI Two Wheeler Loan Statement The State Bank of India (SBI) offers customers an online portal through which they can acquire their Two Wheeler loan statements or interest certificates. This is a quick and convenient way for SBI customers to obtain the necessary information they require, without leaving the comfort of their home.

How to Pay SBI Bank Two Wheeler Loan Interest Online?

You can conveniently pay through SBI’s Internet Banking Facility.

What if I can’t pay the interest on SBI Bank Two Wheeler Loan for 3 months?

  •  Optional SBI life cover available.
  • Repayment period is a maximum of 36 months.

How can I apply for EMI Moratorium on SBI Bank Two Wheeler Loan?

1) Offline:

Call the customer care numbers of SBI and inform the executive about your requirement. The call should be made from the registered mobile number. Alternatively, you can visit the nearest branch office and submit a request as per Annexure – I.

2) Online:

You can visit the official website of SBI and choose the option to avail the EMI moratorium in relation to your loan account. You will be required to authenticate the same by using your registered mobile phone number and generating an OTP.

Alternatively, you can also avail the moratorium option by sending an SMS reply.

What is the number for SBI Bank Two Wheeler Loan agent?

You can contact Dialabank’s agents by ringing us on 9878981166

Can I close SBI Bank Two Wheeler Loan online?

If you wish to close your account in SBI through online means, then there are no such steps or process. You need to go to your home bank branch and close your SBI Two Wheeler Loan.

What is SBI Bank Two Wheeler Loan Customer Care Number?

The numbers are 1800 11 2211 and 1800 425 3800.

How can I get NOC from SBI Bank Bank for Two Wheeler Loan?

The certificate you receive for the closure of a loan is a No Objection Certificate(NOC) and for a settlement, you will give a letter to that effect. In both cases, if you don’t receive the letter you can contact the main branch of the bank and inform the authorities about the same.

 

 

 

 

 

 

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