SBI and HDFC Bank Two-Wheeler Bike Loans – Features and Eligibility

Here Top Bank’s SBI and HDFC Bank Two Wheeler Bike Loans Features and Eligibility

SBI Bank – Loan Features:

• Name of the Scheme: SBI Two-Wheeler Loan Scheme
• Need: Avail of new bikes viz. Bike, Motorcycle, Moped, Battery worked bikes of presumed make
• Set Margin: 25% of “On Road Price” of the vehicle
• Age Factor: Age of the candidate ought to be between 21-65 years.
• Income Per Month: Minimum NMI Rs. 12,500/- and Minimum NAI Rs. 1,50,000/-
• Maximum Loan Amount: Minimum Rs.30,000/-, Maximum amount: <Rs.2.50 lacs (for Loan Amount > 2.50 lacs Super Bike Scheme)
• For salaried: The greatest loan amount that can be allowed would be confined to multiple times the net month to month pay of salaried people (i.e., net of all conclusions including genuine month to month tax deductions at source).
• For other people: The maximum loan amount that can be allowed would be confined to half of the net yearly pay according to ITR
• Repayment tenure: Maximum period of up to 3 years

Eligibility Criteria:

• Permanent representatives of State/Central Govt, PSUs, Corporations, and Listed Pvt Sector organizations having salary accounts.
• Professionals/independently employed and other IT evaluates having SB/CA/Time Deposit with good conduct for at least 1 year.
• Persons working in Agriculture with SB/CA/Time Deposit having good conduct for at least 1 year.
• Existing borrower individuals with satisfactory repayment history might be considered specifically.
• Loans will be granted at home branches only.

Essential Documents:

• Latest Bank A/C Statement of the customer for the last 6 months.
• Borrower’s or Guarantor’s two passport size photographs.
• Verification of signature from the Bank’s record.
• Passport/voter ID/PAN card copy.
• Residential proof
• Recent payslips with all deduction details and TDS certificate-Form 16.
• Income Tax Return copy for the last two financial years.
• For people in agriculture, no need to submit IT Return.
• Non-salaried people need to submit Proof of official address.

HDFC Bank – Loan Features:

• Flexible Tenure for Repayment: Decide for loan tenure period to be only one year, or four years, with our pocket-friendly EMI repayment alternatives.
• Get satisfied with Your Every Requirement: Gain 100% loan if you’re an HDFC Bank account holder for some explicit models, and reimburse the cash at alluring interest rates.
• Online Application: Appreciate advantageous doorstep administration and skip the lines when you log a request online.
• Competitive ROIs: HDFC offers a 2% lower interest rate, and a 50% lower processing rate for existing HDFC Bank account holders, permitting you to benefit savings of up to Rs. 2,375/-.

Also, Check – HDFC Bank Net Banking

Eligibility

• A salaried or independently employed person
• Individuals who are at least 21 years old and no more than 65 at the end of the loan tenure
• Minimum gross salary of Rs. 84,000 every year for a salaried profile, and Rs. 72,000/- every year for an independently employed profile
• Individuals who have been staying at residence for at least 1-year Individuals who have been working for at least 1 year
• Those who have a phone/office landline connection

Documents Need to Provide:

• Passport
• Photo Credit Card (front & reverse)
• Voters ID Card
• Driving License
• PAN card
• Copy of Company ID card
• Ration Card
• Address proof
• Income Proof