Apply for Two Wheeler Loan Lite Online in India | SBI - Personal Banking
SBI Two Wheeler Loan Scheme
Features
- Scheme: SBI TWO-WHEELER LOAN SCHEME
- Purpose: Finance for purchase of new Two-wheeler
- viz. scooter/motorcycle/ moped/battery operated/electric vehicles of reputed make (Registration with RTO is mandatory)
- Loan to Value of vehicle: 85% of On-Road Price of vehicle
- Age Criteria: 18-65 years
- Minimum Income Criteria: Salaried & Pensioners -Net Monthly Income ₹. 10,000/-. For others- Net Annual Income of ₹ 1.50 Lakhs
- Loan amount:
- Min Rs.50,000/-, Max Loan Rs 3,00,000/-
- Subject to maximum 6 times of Net Monthly Income and applicable EMI/NMI Ratio
- EMI/NMI Ratio:
- Up to 60% for Existing salary package customers of SBI
- Up to 50% for all other applicants
- Repayment period: Up to 60 Months (Conditions applicable)
Eligibility
- Salaried
- Pensioners (Maintaining Pension account with us)
- Professionals, self-employed and other IT assesses.
- Person engaged in Agriculture and Allied activities.
Documents required
You would need to submit the following documents along with the completed application form:
Salaried/Pensioners
- Statement of bank account for last 6 months.
- 2 passport size photographs
- Proof of Identity
- Address Proof
- Income Proof: Salaried- Copy of Salary slip of last 3 months and Latest ITR or Form 16. Pensioners- Copy of PPO
Form 16/ITR is waived for our Govt/Defense/Police/PSE Salary Package customers who are maintaining and getting salary in their salary account with our Bank for minimum 3 months.
Statement of Bank Account is waived for Pensioners and our Salaried customers who are maintaining Salary package account with us.
Non-Salaried/ Professional/Businessmen
- Statement of bank account for last 12 months.
- 2 passport size photographs
- Proof of Identity
- Address Proof
- Income Proof: Latest 1 year ITR /GST Returns
Person engaged in agricultural and allied activities.
- 2 passport size photographs
- Proof of Identity
- Address Proof
- Direct agricultural activity (crop cultivation): Khasra /Chitta Adangal (showing cropping pattern) Patta/Khatoni (showing land holding) with photograph. All land should be on free hold basis and ownership proof to be in the name of borrower.
- Allied agricultural activity (like Dairy, Poultry, Plantation/ Horticulture): Documentary proof of running of the activities to be provided.
Last Updated On : Thursday, 19-10-2023
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above
Auto Loan Landing Page
For Two Wheeler Loan from Rs 1.50 Lakhs to Rs 25.00 Lakhs
Criteria
- Features
- Eligibility
- Terms and Conditions
Interest Rates
2.70% p.a.
less than Rs.10 Cr. w.e.f 15.10.22
3.00% p.a.
Rs.10 Cr. and above w.e.f 15.10.22
2.70% p.a.
Balance below Rs. 10 crs
3.00% p.a.
Balance Rs. 10 crores and above