Overview of State Bank of Mysore Two Wheeler Loan:
A subsidiary of India's biggest public sector bank (State Bank of India), State Bank of Mysore comes with a wide range of financial products and services to their clients. The bank's sizable clientele entails Conglomerates, Retail Business People, those from Agricultural Sector and MSME apart from individuals. Flaunting a comprehensive and stable network peppered throughout the nation, it also has a strong international base. SBM delivers a slew of financial products such as credit cards, debit cards, housing loans, auto loans, fixed deposits, savings account, and personal loans among others.
Considering the pathetic state of derelict lanes and roads plus life-sucking traffic conditions in our country, it is a shrewd choice to buy your own bike or two wheeler. It is considered even better than having your own four wheeler at the very least. Aside from the fact that it is suitable to navigate in and out of our infamous city traffic and effectively saving time, it is low maintenance as well as fuel efficient. SBM recognizes this requirement of every Indian, hence offers two wheeler loan to their customers at reasonable rates. Go forward and embrace your dream of having a two wheeler, for a daily commute or to relish the joy of biking.
Also Read: Two Wheeler Insurance.
Features & Benefits of State Bank of Mysore Two Wheeler Loan:
- Hassle free processing.
- There is minimal paperwork involved.
- It is offered at affordable interest rates
- Enjoy a greatly flexible repayment tenure of up to 5 years.
- You can apply for an SBM two wheeler loan online too
State Bank of Mysore Bike Loan Interest Rate:
|Spread over Base Rate||6.50 %|
|Prevalent Interest Rate||16.40 %|
|Revised Interest Rate||16.15 %|
Eligibility Criteria for State Bank of Mysore Bike Loan:
- The applicant should have to of age 18 and above.
- The applicant (whether salaried/ independent professional, entrepreneur/ freelancer) should have steady monthly income as specified by the bank.
- The income of the spouse too could be added on condition that he/ she is also signed as a co-applicant.
Documentation Required for SBM Bike Loan:
- Duplicate copy of any of your ID Proof such as Driving License, Voters ID, Aadhar Card or Passport.
- Duplicate copy of your residential address proof such as any address bearing Identity Card, Rental/ Lease Agreement or Ration Card.
- Income Papers such as bank statements, salary slips and IT Return Papers.