12.65%
INTEREST RATE
1.25% of Loan Amount with Min Rs. 250 and Max Rs. 500
PROCESSING FEE
3 Years
TENURE
FEATURES
- This loan can be availed to buy new two wheelers like scooter, motorbike, moped, battery operated two-wheelers.
- Advance EMI is not required
- Affordable
- 85% of on road price of the two wheeler is provided as LTV
- The bank provides flexibility in payment of EMI. This can be done any time during the month.
- There is an optional SBI life cover which borrowers can choose to avail
ELIGIBILITY
- An employee of Central/state Government or Public Sector Undertaking. He has to be a permanent employee. He can also be from a reputed private company or firm.
- Self-employed people or professionals. They have to be an income tax assessee, and individuals doing agricultural and allied activities are also eligible to avail this loan.
- To avail the loan to buy regular petrol/diesel/gas operated scooters and motorcycles, borrower’s minimum net annual income should be Rs. 75,000. The same should be
DOCUMENTS REQUIRED
- Duly filled two wheeler loan application form
- Borrower’s bank account statement for last 12 months
- 2 passport size photographs Identification of signature from bankers of the applicant.
- Valid identity proof like voters ID card/PAN card.
- Residential address proof- electricity bill, passport, telephone bill, ration card, etc.
- Proof of official address for non-salaried individuals
- Latest salary-slip showing all deductions, and TDS certificate-Form 16 in case of salaried persons