Super Bike Loan Scheme

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Super Bike Loan Scheme

Features

  • Name of the Scheme : SUPER BIKE LOAN SCHEME
  • Margin Required/ LTV : 15% of “Ex-showroom Price” of the vehicle (Up to 90% funding for SBI Salary Package /HNI/Wealth customers)
  • Age of Customer : Age of the applicant should be between 21-65 years.
  • Repayment Tenure : Maximum up to 5 years
  • Salaried Net Annual Income of applicant and/or co-applicant if any, together should be Rs 2.50 Lacs and above.
  • Self-employed, Professionals, Proprietary/Partnership firms and Businessmen: Net Profit or Gross Taxable income of Rs. 4 Lacs p.a. (income of co-applicant can be clubbed together for Self-employed, Professionals and Businessmen) as per ITR after adding back depreciation and deducting repayment of all existing loans
  • Agriculturists: Net annual income of applicant and/or co applicant together to be Rs. 4 Lacs
  • Minimum loan amount : Rs. 2.50 Lakhs

Eligibility

  • Regular employees of State/Central Govt., Public Sector Undertakings, corporations, private sector companies, and reputed establishments.
  • Professionals, Self-employed, Businessmen, proprietary/partnership firms and others who are income tax assesses.
  • Persons engaged in agriculture and allied activities can also avail this scheme. Income Tax return is not required in case of agriculturists.

Interest Rates

8.40% p.a.

(On Applying through YONO)

8.65% p.a.

 

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