Two-Wheeler (Motorcycle / Scooter)Public Sector Bank (PSU)All Eligible Borrowers🌱EV Concession AvailableVerified: 2026-09-29

SBI Two Wheeler Loan (Super Bike & Commuter)

Primary Lending Institution:State Bank of India (SBI)

Financing for scooters and motorbikes up to 85% on-road price over 5 years.

Interest Rate10.50% – 12.75%Fixed or floating per bank

Funding QuantumUp to 85% of On-Road PriceOn-road / Ex-showroom

Maximum TenureUp to 5 years (60 months)Up to 84-96 months

Margin / Down Payment15% of on-road cost

What's Missing: Crucial Fine-Print & Exclusion Gaps

Requires minimum monthly income of ₹12,500. Hypothecation on two-wheeler RC mandatory.

Note: Eligo highlights these exclusions directly from RBI guidelines and auto loan MITCs to protect car and bike buyers from surprise dealership charges, non-negotiable insurance markups, and prepayment lock-ins.

What is SBI Two Wheeler Loan (Super Bike & Commuter)?

Financing for scooters, commuter motorcycles, and premium super bikes with flexible repayment up to 5 years.

Key Benefits & Features

Finances up to 85% of on-road price; loans up to ₹25 Lakh for premium bikes; digital sanction on YONO.

Green Electric Vehicle (EV) Incentive Details

Concessions available for electric two-wheelers

Borrower Eligibility Criteria

Salaried or self-employed individuals with minimum monthly net income ₹12,500.

Age Requirement21 to 65 Years

Min. Monthly Income₹12,500

Processing Fee2.00% of loan amount (Min ₹1,000) + GST

Prepayment TermsNil prepayment penalty after 12 months

How to Apply (3 Verified Paths)

📱Path 1: Existing Customers (App)

Instant sanction on YONO SBI.

🌐Path 2: Fresh Online Portal

Apply at sbi.co.in selecting two-wheeler finance.

🏢Path 3: Bank Branch / Auto Dealer

Visit dealer showroom or SBI branch with identity and income proof.

Eligo does not collect auto loan applications or share applicant leads with dealerships. Apply directly on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Aadhaar Card, PAN Card, Salary slip or ITR, 3 months bank statement, Two-wheeler proforma invoice.

Frequently Asked Questions

What is the minimum income required?

The applicant must have a minimum net monthly income of ₹12,500.

Can I buy an electric scooter with this loan?

Yes, electric scooters from verified manufacturers (Ola, Ather, TVS iQube, Bajaj Chetak) are fully eligible.

What is the maximum loan for super bikes?

Borrowers can avail up to ₹25 Lakh for premium super bikes with engine capacity above 500cc.

What is the margin money?

Borrower must contribute 15% of on-road price as margin money.