Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible vehicleNew registered scooter, motorcycle, moped, bike or battery-operated/electric two-wheeler of a reputed make
Source 1Current fixed interest-rate range11.70% to 15.70% p.a.; electric two-wheelers receive a published 0.50 percentage-point concession
Source 2Published loan range₹50,000 to ₹3 lakh, also capped at six times net monthly income and the applicable EMI/
Source 3Maximum loan-to-value85% of on-road price
Source 4Maximum repayment period60 months
Source 5Minimum income₹10,000 net monthly for salaried applicants and pensioners; ₹1.5 lakh net annual for others
Source 6Processing fee3% of loan amount plus GST; 50% waiver for Salary Package customers
Source 7Benefits and features
- Petrol and electric two-wheelers eligible
- Loan up to ₹3 lakh
- Five-year maximum tenor
- Electric-vehicle rate concession
Eligibility
- Applicants must be aged 18 to 65.
- EMI/
NMI is capped at 60% for existing SBI Salary Package customers and 50% for others.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Income evidence or pension payment order
- Recent bank statements
- Vehicle quotation and RTO documentation