Features
- Scheme: SBI TWO-WHEELER LOAN SCHEME
- Purpose: Finance for purchase of new Two-wheeler
- viz. scooter/motorcycle/ moped/battery operated/electric vehicles of reputed make (Registration with RTO is mandatory)
- Loan to Value of vehicle: 85% of On-Road Price of vehicle
- Age Criteria: 21-57 years
- Minimum Income Criteria: Net Monthly Income Rs. 12,500/- (i.e., Rs. 1,50,000/- Net Annual Income)
- Loan amount:
- Min Rs.20,000/-, Max Loan Rs 3,00,000/-
- Subject to maximum 4 times of Net Monthly Income and applicable EMI/NMI Ratio
- EMI/NMI Ratio:
- Up to 50% for all applicants
- Up to 60% for Existing salary package customers of SBI
- Repayment period: 36 and 48 Months. (Subject to condition, the Loan account must be closed before the borrower attains the age of 60 Years)
