{"id":3333,"date":"2018-04-26T02:59:04","date_gmt":"2018-04-25T21:29:04","guid":{"rendered":"https:\/\/www.antworksmoney.com\/blog\/?page_id=3333"},"modified":"2018-04-26T02:59:04","modified_gmt":"2018-04-25T21:29:04","slug":"sbi-two-wheeler-loan","status":"publish","type":"page","link":"https:\/\/www.antworksmoney.com\/blog\/sbi-two-wheeler-loan\/","title":{"rendered":"SBI Two Wheeler Loan"},"content":{"rendered":"<p>With SBI two wheeler loans you get financial assistance to go ahead, and realise your dream of owning a two wheeler. SBI provides\u00a0two wheeler loans\u00a0at affordable interest rates, and with a wide array of lucrative features and benefits.<\/p>\n<h2>Features and Benefits of SBI 2 Wheeler Loan:<\/h2>\n<ul>\n<li>This loan can be availed to buy new two wheelers like scooter, motorbike, moped, battery operated two wheelers.<\/li>\n<li>Advance EMI is not required<\/li>\n<li>Affordable and\u00a0low EMI and interest rates<\/li>\n<li>85% of on road price of the two wheeler is provided as LTV<\/li>\n<li>The bank provides flexibility in payment of EMI. This can be done any time during the month.<\/li>\n<li>There is an optional SBI life cover which borrowers can choose to avail<\/li>\n<li>Accidental insurance cover is provided for free.<\/li>\n<li>If the loan is availed by a salaried individual, then the maximum loan amount is restricted to 6 times of the borrower&#8217;s Net Monthly Income.<\/li>\n<li>If the borrower is not a salaried individual then the maximum loan amount is restricted to half of Net Annual Income of the borrower.<\/li>\n<li>For agriculturists, the net annual income should be decided depending on the nature of their activity like farming, dairy, poultry, orchards, land holding, cropping pattern, yield, etc.<\/li>\n<li>The repayment period of the loan is a maximum of 36 months.<\/li>\n<li>The loan margin provided is 15% of the on the road price of the vehicle. This also includes vehicle registration charges, insurance, one-time road tax.<\/li>\n<\/ul>\n<h2>SBI Bike Loan Eligibility:<\/h2>\n<p><strong>The two wheeler loan applicant should be :<\/strong><\/p>\n<p>A minimum of 21 years old and maximum of 65 years of age.<\/p>\n<ul>\n<li>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.<\/li>\n<li>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.<\/li>\n<li>To avail the loan to buy regular petrol\/diesel\/gas operated scooters and motorcycles, borrower&#8217;s minimum net annual income should be Rs. 75,000. The same should be Rs. 60,000 if the loan is availed to buy mopeds and two wheelers working on battery.<\/li>\n<\/ul>\n<h2>Documentation SBI Two Wheeler Loan:<\/h2>\n<ul>\n<li>Duly filled two wheeler loan application form<\/li>\n<li>Borrower&#8217;s bank account statement for last 12 months<\/li>\n<li>2 passport size photographs<\/li>\n<li>Identification of signature from bankers of the applicant.<\/li>\n<li>Valid identity proof like voters ID card\/PAN card.<\/li>\n<li>Residential address proof- electricity bill, passport, telephone bill, ration card, etc.<\/li>\n<li>Proof of official address for non-salaried individuals<\/li>\n<li>Latest salary-slip showing all deductions, and TDS certificate-Form 16 in case of salaried persons<\/li>\n<li>Income Tax Return copies for the two preceding financial years<\/li>\n<\/ul>\n<h2>SBI Two Wheeler Loan Interest Rates:<\/h2>\n<p>The bank lends out two wheeler loans to borrowers at an affordable\u00a0<strong>interest rate of 8.60% above Base Rate i.e. 17.90% per annum<\/strong>. The interest is calculated on daily reducing balance.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With SBI two wheeler loans you get financial assistance to go ahead, and realise your dream of owning a two wheeler. SBI provides\u00a0two wheeler loans\u00a0at affordable interest rates, and with a wide array of lucrative features and benefits. Features and Benefits of SBI 2 Wheeler Loan: This loan can be availed to buy new two &hellip; <a href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-two-wheeler-loan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SBI Two Wheeler Loan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3333","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>SBI Two Wheeler Loan | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/sbi-two-wheeler-loan\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"SBI Two Wheeler Loan | Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"og:description\" content=\"With SBI two wheeler loans you get financial assistance to go ahead, and realise your dream of owning a two wheeler. 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