SBI Easy Ride Pre-Approved Two Wheeler Loan

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SBI Easy Ride Pre-Approved Two Wheeler Loan

Yono App based Loan for purchase of new Two-Wheeler viz. scooter/motorcycle/moped/battery operated/electric vehicles of reputed make.

Fully digitised journey for availing two-wheeler loans with direct disbursement to the Dealers’ account.

  • Real time validation of on-Road vehicle price.
  • end-to-end process with direct credit to the vehicle dealer’s account.
  • Ground level assistance by SSL (SBI Caps Securities Ltd.) in vehicle delivery and in movement of post sanction documents

  • Loan Amount : Minimum Rs 20,000/- Maximum Rs 3,00,000/- (subject to four times of NMI and applicable EMI/NMI ratio)
  • Age: 21-57 years
  • LTV is 85 % of On-Road price of vehicle.
  • Processing fee: 2% of the loan amount + GST, subject to Minimum Rs 1,000 + applicable GST, Maximum Rs 6,000 + applicable GST
  • Tenure: 12, 24,36 or 48 months
  • EMI/NMI Ratio: not to exceed 50 % inclusive of Two-Wheeler loan to be applied
  • Repayment through Standing Instruction by debit to Savings Bank A/c with our Bank.

  • Step 1: Download & Install YonoSBI from Playstore & Login to YONO Application
  • Step 2: Click “Avail Now” on SBI Easy Ride PA2WLR offer banner
  • Step 3: Maximum loan eligibility displayed to Customer to proceed with the loan journey
  • Step 4: Customer selects location to avail loan (from Permanent address/Current address) and provides work details
  • Step 5: Customer selects Make, Model, variant, Dealer (based on location selected) and inputs the on-road price of vehicle
  • Step 6: Maximum permissible loan as per LTV ratio (presently 85%) is displayed to the customer. Customer selects the loan amount, tenure & SI date
  • Step 7: Customer Uploads Selfie & reviews the loan details
  • Step 8: Customer confirms T&C through OTP, gets Congratulatory message . Loan account created. Customer can view / e-mail / download loan documents
  • Step 9: Direct disbursement to the Dealer’s account (includes Loan amount and margin money).

Last Updated On : Friday, 07-01-2022

Interest Rates

8.50%* p.a.

w.e.f. 09.03.2023

*T&C Apply.

 

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