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SBI BANK SUPER BIKE LOAN 

SBI Bank Super Bike Loan Details 

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,

Benefits of SBI Bank Super Bike 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

Fee and Charges of SBI Bank Super Bike Loan 

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 

Eligibility Criteria for SBI Bank Super Bike Loan

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.

ELIGIBLE 

Salaried individuals, self employed, professionals, proprietary and partnership firms, businessmen and agriculturists are avail for the loan,

AGE 

21 years to 65 years

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

Documents Required for SBI Bank Super Bike Loan

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.

  1. Filled application form

  2. Proforma Invoice

  3. Passport size photograph

  4. 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

  1. Address Proof

  • For salaried individuals = Utility bills, passport, etc.

  • For self employed individuals = Utility bills, passport, etc.

  1. Income Proof

  • For salaried individuals = Salary slips, IT returns, bank statements

  • For self employed individuals = Bank statements, IT returns, audited financial statements

Compare other banks Super Bike Loan Interest Rates

BANKS 

INTEREST RATE 

AXIS Bank Super Bike Loan

9.15% to 15.90%

SBI Super Bike Loan 

Start at 10.65%

HDFC Bank Two Wheeler Loan 

Start at 11.83%

HDFC Bank Super Bike Loan

9.65% to 15%

YES Bank Bike Loan 

10% to 18%

ICICI Bank Two Wheeler Loan 

10% to 26%

IDBI Bank Two Wheeler Loan 

Start at 11.83%

Indusind Bank Two Wheeler Loan 

21% to 29%

Bank of Baroda Two Wheeler Loan 

Start at 11.50%

Bank of India Two Wheeler Loan 

7.75% to 8.35%

Punjab National Bank Two Wheeler Loan

Start at 10.70%

Other products of SBI Bank 

1. SBI New Car Loan Scheme

2. SBI Loan Against Properties

3. SBI Personal Loan 

How to Apply for SBI Bank Super Bike Loan

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 :  customercare@sbi.co.in

How to calculate EMI of 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.

Financials products offered by Bank 

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

SBI Bank Super Bike Loan Frequently Asked Questions 

1. What is the minimum loan amount provided by SBI Bank Super Bike Loan?

The minimum loan amount is provided by SBI Bank Super Bike Loan is upto Rs.2.50 lakh.

2. How much tenure is provided by the SBI Bank Super Bike Loan?

The repayment tenure is up to 5 years provided by the SBI Bank Super Bike Loan.

3. Is there any processing fee charged by 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)

4. How much interest rate is provided by the SBI Bank Super Bike Loan?

The Interest rate provided by SBI Bank Super Bike Loan starts at 10.65% per annum onwards.

5. How to apply for SBI Bank Super Bike Loan?

You can apply online or offline by visiting the nearest bank branch for SBI Bank Super Bike Loan.

6. Which formula is used to calculate EMI of superbike loans from SBI Bank?

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/2020

Know More About

Sbi Super Bike Loan

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

Sbi Super Bike Loan Interest Rates

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

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959