SBI Two Wheeler Loan To Government Employees

Government employees working under various central or state government departments can easily avail two wheeler loan from SBI by completing minimum formalities. These employees need to provide quotation of the bike and other documents to avail two wheeler loan from SBI.

Not only employees working in Government departments are eligible for loan amount, but employees working in PSU's can also avail finance.

State bank of India, one of the largest bank and formed under SBI Act provide two wheeler loan on easy terms. Repayment of loan can be made in Equated monthly installments (EMI). Check the current two wheeler loan interest rate of SBI and apply today to get two-wheeler loan for bike/scooter/scooty/Honda Activa etc.

 

Sbi Two Wheeler Loan Interest Rate

SBI two wheeler interest rates are decided by State Bank of India from time to time according to monetary conditions, inflation and RBI guidelines etc. 

Person seeking two wheeler loan from SBI to finance their vehicle need to know about the prevailing two-wheeler loan interest rates. Currently SBI two wheeler loans are available on base rate plus 8.25%. It means the current interest rate with effect from 04.02.2013 is

Base Rate – 9.70% + 8.25% = 17.95% percent.

Amount of two-wheeler loan interest compounded annually and charged on reducing balance of amount due as principle towards loan.

Students Eligibility for SBI Two-Wheeler Loan

Students Eligibility for SBI Two-Wheeler Loan

Student seeking two-wheeler loan from SBI to purchase new bike/super bike, scooter, moped or sooty or any other loan, State Bank of India is with them to provide easy finance options even with zero percent interest rates in some cases.

Once student have selected a bike of their choice from a dealer of motorcycles/ showroom in city/locality, next step becomes necessary to arrange funds for financing two-wheeler. If the willing buyer is salaried employee in an organization or self-employed business men, financing from SBI is much easy. However, for students, getting two-wheeler financed from State Bank of India requires following formalities to be completed before sanction of two-wheeler loan.

Steps for students to get SBI Two Wheeler Loan

1. Two wheeler loan from SBI cannot be availed by minor (Age below 18 Years), it means age of loan seeker must be more than 18 years.
2. Get quotation from the two-wheeler dealer to satisfy bank about loan amount to be disbursed if all conditions would met by loan seeker.
3. Contact bank online or nearby bank branch to get application of two wheeler loan.
4. Fill the details correctly and submit to bank, bank will suggest for any correction if required in application form.
5. Now, student need to provide necessary documents as applicable to salaried employee or businessmen as the SBI two wheeler loan cannot be sanctioned to person having no income proof.
6. As mentioned in step number 5 above, student need to provide details of their Father or Mother or anyone else who should have income proof.

Documents required

• 3 years Income tax return
• Copy of last six months bank account statement
• Address Proof
• ID proof
• Other relevant documents as required by SBI for two-wheeler loan to Students.