SBI (State Bank of India) provide the best Two- Wheeler loan scheme to take a loan for purchase of new Two- Wheeler. The scheme provides finance for purchase of new Two-wheelers viz. scooter/motor cycle/ moped/battery-operated vehicles.

Eligibility

To avail an SBI Two Wheeler Loan, one should be:

• Individual between the ages 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 assessed or

• One 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)-

Margin
15% of the on the road price (which includes vehicle registration charges, insurance, one-time road tax).

Repayment
One can repay the loan within 36 months.

Documents Required

• Statement of Bank account of the borrower for last 1 year.
• 2 passport size photographs of borrower.
• Signature identification from bankers of borrower.
• 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 2 financial years, duly acknowledged by ITO for professionals, self-employed and others.
• Proof of official address for non-salaried individuals


State Bank of India Two Wheeler Loan Details