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SBI Two Wheeler Loan
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Traffic on Indian roads and the loopholes of public transport justify the use of two-wheelers for your daily commute. Add to that, there are bikers in the age bracket 22-40 years who are fervent for a biking adventure. So whatever your reason may be for buying a bike, SBI will give you financial assistance to go ahead and make your dream of owning a two-wheeler real. The two-wheeler loans from SBI are offered at inexpensive rates of interest, with a wide array of lucrative features and benefits.

Benefits of Two-Wheeler Loan from SBI

  • The loan can be taken to buy any two-wheeler such as a scooter, motorbike, moped, and the battery operated two-wheelers.

  • EMI is not required in advance.

  • Affordable and low-interest rates that result in lower EMIs.

  • The bank pays 85% of the on-road price of the two-wheeler in the loan.

  • Avail the flexibility in payments of EMIs at any day of the month.

  • An optional SBI life cover is also provided to borrowers.

  • Free Accidental insurance cover.

  • For any salaried individual who avails the loan, the maximum loan amount is kept at 1/6th of the net monthly income of the borrower.

  • For the borrower who is self-employed, the maximum loan amount is limited to half of the borrower's annual net income.

  • The yearly net income for agriculturists is based on the nature of their activity like orchards, land holding, farming, dairy, poultry, cropping pattern, yield, etc.

  • The repayment tenure of the loan is 36 months.

  • The loan margin provided by SBI is 15% of the road price of the vehicle which includes vehicle registration charges, insurance, and one-time road tax.

SBI Bike Loan Eligibility

The two-wheeler loan applicant should be :

  • At least 21 years to 65 years of age.

  • Either a permanent employee of the Central/State Government, Public Sector Undertaking, or from a reputed private company or firm.

  • A self-employed income tax assessee, or involved in agricultural and allied activities.

  • The minimum net annual income of the applicant should be Rs. 75,000 to avail loan for buying regular petrol/diesel/gas operated scooters and motorcycles. To avail the credit for buying mopeds and battery-operated two-wheelers, the same should be Rs. 60,000.

Documentation for SBI Two Wheeler Loan

  • Duly filled two wheeler loan application form

  • Bank account statement for last 12 months

  • Two passport size photographs

  • Signature of the applicant.

  • Valid identity proof like voters ID card/PAN card.

  • Residential address proof- electricity bill, passport, telephone bill, ration card, etc.

  • Proof of official address for non-salaried individuals

  • Latest salary-slip showing all deductions, and TDS certificate-Form 16 in case of salaried persons

  • Income Tax Return copies for the two preceding financial years.

SBI Two Wheeler Loan Interest Rates

SBI offers the two-wheeler loans at a reasonable interest rate of 8.60% above base rate, which means 17.90% per year. The rate of interest is calculated on the reducing balance.


Q1. Does SBI charge a processing fee on two-wheeler loan?

Yes, the processing fee is charged at 1.22% of the loan amount.

Q2. If I want to buy a two-wheeler through SBI, will my vehicle get insurance coverage?

Yes, the vehicle will get accidental insurance coverage free along with which SBI life cover can also be availed.

Q3. What is the repayment tenure of SBI two-wheeler loans?

The repayment tenure of SBI two wheeler loan extends up to 36 months.