SBI Two Wheeler Loan Eligibility

State Bank of India (SBI) offers Two Wheeler Loan to purchase of new Two- Wheeler. This loan help financially to customers . customers can get this loan on low interest rate and can make repayment through convenient EMI’s.

Features of SBI two wheeler loan :
No Advance EMI
Lowest interest rates
Flexibility of payment of EMI anytime during the month
Lowest EMI
LTV 85% of On Road Price of vehicle
Interest Calculated on Daily Reducing Balance
SBI Life cover
Low processing fee
Free Accidental insurance

Eligibility:
Age : 21-65 years of age.

Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment

Minimum Net Annual Income
Rs. 75,000
(for regular petrol/diesel/gas operated scooters & motor cycles)

Rs. 60,000
(for mopeds and battery-operated Two-wheelers)

Documents Required
Statement of Bank account .

2 passport size photographs

Signature identification

Copy of passport /voters ID card/PAN card.

Proof of residence.

Latest salary-slip or
Form 16

Copy of Income Tax Return.

Proof of official address .

Margin
15% of the on the road price

Repayment
36 months.

Interest rate and fee and charges :

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Answered By StudyChaCha Member

Dear Team,
Request to please send me the details of TWO wheeler loan from SBI bank.
I have account in SBI bank y account number is 20162518462.please provide the eligibility of Loan.
thanks

Can you tell me about the eligibility requirement for applying for Two Wheeler Loan in SBI (State Bank of India) as I want to check if I am eligible for it or not?

SBI (State Bank of India) provides two wheeler loans at affordable interest rates, and with a wide array of lucrative features and benefits.


SBI provide Two- Wheeler loan scheme with:

No Advance EMI;
Lowest interest rates;
Lowest EMI;
LTV 85% of On Road Price of vehicle;
Interest Calculated on Daily Reducing Balance;
Flexibility of payment of EMI anytime during the month;
Low processing fee (only 1.22% of loan amount);
Free Accidental insurance;
Optional SBI Life cover


Eligibility

To avail Loan, one should be:

Individual between the age of 21-65 years of age.

A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or

A Professionals or self-employed individual who is an income tax assesse or

Person engaged in Agricultural and allied activities.

Minimum Net Annual Income Rs. 75,000 (for regular petrol/diesel/gas operated scooters & motor cycles) and Rs. 60,000 (mopeds and battery-operated Two-wheelers)


Documents Required
The following papers are to be submitted along with loan application:

Statement of Bank account of the borrower for last 12 months
2 passport size photographs of borrowers
Signature identification from bankers of borrowers
A copy of passport /voters ID card/PAN card
Proof of residence
Latest salary-slip showing all deductions and TDS certificate-Form 16 in case of salaried persons
Copy of Income Tax Return for last two financial years, duly acknowledged by ITO for professionals, self-employed and others
Proof of official address for non-salaried individuals



SBI Two Wheeler Loan Eligibility

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Answered By StudyChaCha Member