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State Bank of India Two Wheeler Loan

Two Wheeler Loan

To avail Two Wheeler the bank provides a customer with a funding to buy at some rate of interest. However, this rate of interest is lower than the rate of interest in a personal loan(unsecured loan), so to buy a Two wheeler customer always advised to go for a Two wheeler loan. Two wheeler has come up with its own features and benefits which is discussed below.

Features of Two Wheeler Loan

Two wheeler loans are given by bank with floating fixed interest rates.

2 Wheeler’s basic Rate with 0.40 percent

Very less documentation process.

The process of application is hassle-free.

The customer can pay a loan amount in EMI’s.

State Bank of India

SBI(State Bank of India) is the public sector bank, multinational and financial service company. Its headquarter lies in Mumbai, Maharashtra. SBI is known for its credibility and services among the customers from decades. To fulfill the needs of people the one who wants to purchase two wheeler. SBI has launched two wheeler loans at affordable prices to the customers. To avail two wheeler loan one must be aware of eligibility criteria and documentation process.

Eligibility Criteria

Age

Min. age -21 years

Max. age-65 years

Employment Status

Salaried individual / self-employed

Employment Tenure

1 year of salaried individual and 6 months for self-employed

Minimum Annual Income

Rs.84,000/- ( salaried individual)

Rs.72000/- (self-employed)

 

Documentation Required

Photo ID proof

Colored passport size photograph

Identity proof

Passport/Voter ID/Driving license/Adhaar card/Pan card

Residence proof

Electricity bills/passport/voter id/driving license/telephone bills/pan card

Bank Statement

Last six months

 

Interest Rates

Two Wheeler interest rates generally range from 11.50% to 18.25%.

 

How to Apply?

To apply for the two-wheeler loan, visit the link given below

www.magicloans.in

After visiting on the given link above fill the application form online.

Enter your credentials carefully

Your contact number is required so that an executive can call you in no time

All the queries can be handled by customer care

You will get the disbursal on the same day if processing is done smoothly.