Need loan to buy your dream super bike? SBI offers loan for it; know interest rate, eligibility and other features
With features and flexible options, this scheme caters to a wide range of applicants, ensuring you can hit the road on your dream bike without financial stress. Check eligibility, features, interest rates based on CIBIL score and 5-year monthly EMI details for Super bike loan scheme.
Are you dreaming to own a super bike but worried about financing? The SBI's new Super Bike Loan Scheme is here to make your dream a reality. With features and flexible options, this scheme caters to a wide range of applicants, ensuring you can hit the road on your dream bike without financial stress.
Margin required and eligibility criteria
Minimum 15% of the on-road price of the vehicle.
Age of Customer: 21-57 years
Income Requirements
Salaried/Pensioners: Net annual income of applicant and/or co-applicant should be Rs 3.00 lakhs or above.
Self-employed Professionals, Proprietors, Partners, Businessmen, Traders: Net profit or gross taxable income of Rs 3.00 lakhs per annum as per ITR (income of co-applicant can be clubbed).
Agriculturists: Net annual income of applicant and/or co-applicant should be Rs 4 lakhs or above.
Loan Amount
Minimum: Rs 1.50 lakhs
Maximum: Rs 25.00 lakhs
Repayment Tenure
Maximum up to 4 years
Interest Rates Based on CIBIL Score
CIBIL Score: ≥ 741: Salaried Customers/Defense/Pensioners: 3.50% + 1 Year MCLR, totaling 12.35%
Others: 4.50% + 1 Year MCLR, totaling 13.35%
CIBIL Score: 731-740: Salaried Customers/Defense/Pensioners: 5.00% + 1 Year MCLR, totaling 13.85%
Others: 6.00% + 1 Year MCLR, totaling 14.85%
CIBIL Score: 700-730 and New to Credit: Salaried Customers/Defense/Pensioners: 10.75% + 1 Year MCLR, totaling 19.60%
Others: 11.75% + 1 Year MCLR, totaling 20.60%.
Loan for 5 years
If you'll take a loan of Rs 20 lakh for 5 years, then your monthly EMI will be Rs 44,479 per month.
Financing your dream
With the Super Bike Loan Scheme, financing your dream bike is now more accessible than ever. Whether you are salaried, self-employed, a professional, or an agriculturist, this scheme offers tailored solutions to meet your financial needs.