State Bank of India Two Wheeler Loan

State Bank of India Two Wheeler Loan
SBI is the one of the old financial organization in India. It is founded in India in 1806. Its name was a bank of Calcutta initially. On 1 July 1955, it came into the role as State Bank of India. It is a government-owned corporation and it’s headquartered is in Mumbai, Maharashtra. State Bank of India is the one of the largest or you can say biggest corporation in India having 23% market shares as assets. It gives its services worldwide. It includes car loan, gold loan, personal loan and two wheeler loan at very easy rates of interest.
Two Wheeler Loan
In a two wheeler loan, we get financial help to buy a two wheeler. Generally, customers prefer to get a two wheeler loan from banks rather than non-banking financial companies but in case if there is some problem in sanctioning the loan from the bank you can go for non-banking financial companies. Your loan will be sanctioned very easily. the lender, whether it is a bank or non-banking company provides you a two wheeler loan at some rate of interest.
The applicant should be a citizen of India.
After that, the age of the applicant should be more than 21 years.
After that, the maximum age of the applicant can be 65 years.
The applicant should have some stable source of income
Documents Required
However the documents required in a two wheeler loan are not that much but still, we have to submit some documents to the bank or non-banking company while applying for a two wheeler loan.
First of all, a proof of identity is necessary.
After that, a proof of residence
Two passports sized colored photographs
One proof of income is required to check the applicant’s income status.
Rates of Interest
11.50% per annum onwards. Rates of interest are not fixed they vary from person to person and your income or the tenure of the loan.