HomeResourcesSBI Two-Wheeler Loan Online: Apply Process, Interest Rates | Rupyy

SBI Two-Wheeler Loan Interest Rate 2024

Here’s a quick look at the current loan details:

Feature
Interest Rate
Loan Amount
Tenure
Processing Fee
LTV Ratio
 
Details
16.65% p.a. onwards
Up to ₹2.5 Lakh (for regular users)
12 to 36 months
Up to 2% of the loan amount
Up to 85% of on-road price

Can I Prepay SBI Two-Wheeler Loan Without Charges? icon

Can I Prepay SBI Two-Wheeler Loan Without Charges?

SBI generally allows prepayment or foreclosure of two-wheeler loans, but it may charge a nominal fee depending on how early you close the loan. Always check the terms in the sanction letter.

Can I Apply for SBI Two-Wheeler Loan Without Visiting a Branch? icon

Can I Apply for SBI Two-Wheeler Loan Without Visiting a Branch?

Yes. SBI offers a 100% digital application process via its website and YONO app. E-document verification and e-signing are available for faster approval.

What Happens If I Miss a Bike Loan EMI? icon

What Happens If I Miss a Bike Loan EMI?

Missing an EMI can lead to penalties and affect your credit score. SBI may also charge late payment interest. Always set up auto-debit instructions to avoid delays.

Eligibility Criteria SBI Two-Wheeler Loan

  • right-arrow Age: 21 to 65 years
    right-arrowEmployment: Salaried or self-employed with steady income
    right-arrowMinimum Net Monthly Income: ₹10,000
    right-arrowCIBIL Score: Preferably 700+ for smooth approval
    right-arrowResidency: Indian resident with stable residence proof

    • Documents Required

  • right-arrow KYC: Aadhaar, PAN Card
    right-arrowAddress Proof: Utility bill, rent agreement, Aadhaar
    right-arrowIncome Proof: Latest salary slips, bank statement (3-6 months), or ITR for self-employed
    right-arrow Quotation: Proforma invoice of the bike from the dealer
    right-arrowPhotograph: Recent passport-size

    • How to Apply for SBI Bike Loan Online

  • right-arrowVisit the SBI Loans Portal or use the YONO App
    right-arrowChoose “Two-Wheeler Loan” under Personal Loans
    right-arrowEnter your mobile number, PAN, and other details
    right-arrowUpload scanned documents
    right-arrowSelect your preferred dealership and loan tenure
    right-arrowSubmit application and track status via portal/app

    • Written byWriter logo

    Frequently Asked  Questions

    Can I get an SBI bike loan with zero down payment?
    Is SBI’s interest rate fixed or floating for bike loans?
    Can I apply jointly with a co-applicant?

    Apply for a Two Wheeler Loan Now!

    Zero Paperwork

    Loan Offer in Minutes