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SBI Two Wheeler Loan


  • Go through all the details of the SBI Two Wheeler Loan including the Interest Rate.
  • Know the exact monthly EMI using the EMI Calculator.
  • Know the Eligibility Criteria and Documents required to apply for the bike or scooter loan.

There are many individuals who want to buy a two-wheeler because it is very helpful in commuting from one place to another. On the other hand, it is cost-savvy and gives extra mileage to the owner. But sometimes due to unavailability of funds individuals fail to afford a two-wheeler. So, it is better to take a two-wheeler loan so that you can afford a bike or scooter. You can check out the details of the SBI Two Wheeler Loan that is available at a starting interest rate of 16.05% per annum. You are allowed to take this loan for a maximum period of 3 years. So let’s explore every detail of this bike loan and see how it will help you to buy a two-wheeler.

SBI Two wheeler Bike Loan Interest Rate and Other Details

SBI Bike Loan Fees and Other Charges

Minimum Processing Fees for Two Wheeler₹125 + GST
Maximum Processing Fees for Two Wheeler₹250 + GST
Processing Fees for Two Wheeler0.75% of the Loan Amount + GST
Maximum Processing Fees for Super Bikes₹10000 + GST
Minimum Processing Fees for Super Bikes1% of the Loan Amount + GST

Eligibility Criteria for the SBI Two Wheeler Loan

  • The Minimum age of the applicant must be 21 Years.
  • The Maximum age of the applicant must be below 65 years.
  • A margin of 25% of the On-Road Price is needed to take the bike loan
  • ₹12500 must be the minimum monthly income to apply for the loan.
  • ₹150000 must be the minimum annual income to apply for the loan.
  • Permanent employees of State/ Central Govt, PSUs, Corporations, and Listed Private Sector companies having the salary account can apply for the loan.
  • Professionals/ self-employed & other IT assesses maintaining SB/CA/Time Deposit with satisfactory conduct for a minimum 1 year.
  • Persons engaged in Agriculture with SB/CA/Time Deposit maintaining satisfactory conduct for minimum 1 year.
  • Existing borrowers of SBI having a good repayment history.
  • Two Wheeler Loans will be sanctioned at home branches only.

Documents Required for the SBI Scooter Loan

You must go through the documents that need to be submitted at the time of taking the loan. You must go through all the documents and arrange all of them before you apply for the loan.

  • Have to submit the bank statements for the last 6 months.
  • 2 Passport size photographs of the borrower and the guarantors.
  • Your signature will be verified by the bank as per the past records.
  • A copy of identity proof and can be a passport, a voter ID card, Aadhaar Card, and a PAN card.
  • Proof of residence and it can be tax receipts, telephone bill, electricity bill, or any other document that comply with the regulatory and/or KYC requirements.
  • Latest salary slip showing all deductions and TDS certificate-Form 16 in case of salaried persons.
  • Copy of Income Tax Return for the last two financial years and it must be acknowledged by ITO for professionals, self-employed and others. Income Tax Return Document is not mandatory in the case of agriculturists.
  • Proof of official address for non-salaried individuals.
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Why it is necessary to Calculate EMIs?

It is necessary to calculate EMIs because it will let you know about the actual interest that will be charged during the loan period. On the other hand, you can find you’re your monthly expenditure paid as an EMI for the loan. So the two-wheeler loan EMI calculator will give you a clear picture of that portion of the money that you will have to separate from your monthly income as an EMI.

Maximum Loan Amount

  • The maximum loan amount for salaried individuals is restricted to 6 times the net monthly income.
  • The maximum loan amount for the self-employed individuals is restricted to 50% of the net annual income as per the ITR after deducting depreciation and repayment of existing loans.

SBI Two Wheeler Bike Loan Customer Care Number

The toll-free number of the State Bank of India is 1800-11-2211 where you can ask for the details of the two-wheeler loan. There are two more toll-free numbers of SBI where you can contact the bank asking for the details and they are as follows:-

  • 1800-435-3800
  • 020-26599990

Payment of SBI Bike Loan

You will have to decide a certain date at the time of loan disbursal and the bank will automatically deduct the EMI on the chosen date. Make sure that you maintain the balance as per the EMI that will be going to be deducted on the given date.

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