SBI is one of the most trusted banks for personal facilities. It is an Indian multinational public sector banking and financial services. SBI established on 1 July 1995 and their headquarters in Mumbai. State Bank of India with a 200 year history is the largest commercial bank in India. In terms of assets, deposits, profits, branches, customers and employees SBI is the largest bank. The government of India is the single largest shareholder of this fortune 500 entity with 6158 percent ownership. SBI was ranked 60th in the list of top 1000 banks in the world by “the banker” in July 2012.
SBI Bank offers superbike loans to anybody who is interested in purchasing a bike with 500 cc or higher engine capacity. From the SBI Bank you will receive 15% of the ex showroom price of your superbike as financing. Salaried individuals, self employed, professionals, proprietary and partnership firms, businessmen and agriculturists are eligible to take this loan,
1 .Provide minimum loan amount starts from Rs.2.50 lakh
2. SBI Bank offers superbike loans to anybody who is interested in purchasing a bike with 500 cc or higher engine capacity
3. Repayment tenure upto 5 years
4. Attractive interest rate starts at 10.65% per annum.
5. You will receive 15% of the ex showroom price of your superbike as financing
6. No prepayment charges are allowed
To apply for a super bike loan, you have to pay fees and charges applied by the SBI Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from SBI Bank i.e processing fee, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.
1. Processing fee = 2% of the loan amount plus GST ( Minimum Rs.5400 and Maximum Rs.17800 plus GST)
2. Prepayment charges = No charges
3. Foreclosure charges = No charges
Before applying for a SBI Bank superbike loan, you should fulfil all basic eligibility criteria as prescribed by the bank. For the superbike loan application the Salaried individuals, self employed, professionals, proprietary and partnership firms, businessmen and agriculturists are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
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ELIGIBLE |
Salaried individuals, self employed, professionals, proprietary and partnership firms, businessmen and agriculturists are avail for the loan, |
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AGE |
21 years to 65 years |
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INCOME |
For salaried net annual income = Rs.2.50 lakh per annum For self employee, professionals, proprietary/ partnership firms, businessmen net profit or gross taxable income = Rs.4 lakh per annum For agriculturists net annual income = Rs. 4 lakh per annum |
Any applicant who is going to avail a loan for superbike from SBI Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.
Filled application form
Proforma Invoice
Passport size photograph
Identity Proof
For salaried individuals = PAN card, voter’s ID, passport, Driving license
For self employed individuals = PAN card, voter’s ID, passport, driving license
Address Proof
For salaried individuals = Utility bills, passport, etc.
For self employed individuals = Utility bills, passport, etc.
Income Proof
For salaried individuals = Salary slips, IT returns, bank statements
For self employed individuals = Bank statements, IT returns, audited financial statements
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BANKS |
INTEREST RATE |
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9.15% to 15.90% |
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Start at 10.65% |
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Start at 11.83% |
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9.65% to 15% |
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10% to 18% |
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10% to 26% |
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Start at 11.83% |
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21% to 29% |
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Start at 11.50% |
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7.75% to 8.35% |
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Start at 10.70% |
2. SBI Loan Against Properties
There are two ways to apply for SBI Bank Super Bike Loan :
1. Offline Method : By visiting the nearest bank branch
2. Online Method
Firstly visit lenders website or branch from which you want to get loan
Fill the application form and read all the term and conditions
Attach all required documents with an application form
After submitting form lenders will let you know that you eligible or not for the loan
SBI Bank Super Bike Loan Customer Care
Contact number : 1800112211 / 18004253800
Email id : [email protected]
The mathematical formula is used to calculating EMI of SBI Bank Super Bike Loan
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where,
P stands for the loan amount or principal,
R is the interest rate per month and
N is the number of monthly installments.
Financials products offered by Bank
The minimum loan amount is provided by SBI Bank Super Bike Loan is upto Rs.2.50 lakh.
The repayment tenure is up to 5 years provided by the SBI Bank Super Bike Loan.
Processing fee charged by SBI Bank Super Bike Loan is 2% of the loan amount plus GST ( Minimum Rs.5400 and Maximum Rs.17800 plus GST)
The Interest rate provided by SBI Bank Super Bike Loan starts at 10.65% per annum onwards.
You can apply online or offline by visiting the nearest bank branch for SBI Bank Super Bike Loan.
The mathematical formula is used to calculating EMI of SBI Bank Super Bike Loan
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where,
P stands for the loan amount or principal,
R is the interest rate per month and
N is the number of monthly installments
Last Updated on : 31/Aug/2020Know More About
You're eligible for a Sbi Super Bike Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Sbi Super Bike Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10.65% - 0% |
| Processing Fees | 2% of the loan amount plus GST ( Minimum Rs.5400 and Maximum Rs.17800 plus GST) |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Two Wheeler Loans EMI Calculator