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Need loan to buy super bike, SBI is giving loan up to 90%, know details here

SBI Super Bike Loan Scheme, The craze for super bikes is increasing among the youth. This is the reason why many two-wheeler companies are manufacturing super bikes. Equipped with best features, the price of super bikes is high. However, now many banks are giving loans for superbikes, including State Bank of India (SBI). Know about SBI Super Bike Loan Scheme:-

who can apply

  • Applicant’s age 21-65 years of age Self Employed, Professional, Businessman or Proprietor of Firm can apply.
  • There should be return filing for the loan.
  • If you are associated with agriculture, then you will not need to give ITR, but your income should be Rs 4 lakh.
  • One can also apply as a co-applicant for a super bike loan.

how much loan will i get

  • Loan will be available up to 85% of the ex-showroom price.
  • You will have to invest 15% of the amount with yourself.
  • At the same time, SBI salary package, high net worth individual and wealth customers can get loans up to 90 percent.

Interest rate and processing fee

  • In this scheme, a minimum loan of Rs 2.50 lakh has to be taken.
  • The repayment tenure of this loan is 5 years. That is, you have to repay the loan in 5 years.
  • The interest rate for SBI Super Bike Loan will be a minimum of 10.25 per cent (1 year MCLR + 25%) per annum. The 1-year MCLR in SBI is currently 7 percent.
  • The processing fee of the loan will be 1% of the loan amount plus GST.
  • The processing fee cannot exceed Rs.10,000 (+GST).

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.

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