State Bank of Bikaner and Jaipur Two Wheeler Loan

The State Bank of Bikaner and Jaipur (SBBJ), renowned for their outstanding loan portfolio, has customized two-wheeler products. The affordable interest rates provided by the bank are making the loan product cost effective for customers to pursue their dream and for banks to earn revenues. With low-interest rates and versatile repayment options, SBBJ two-wheeler loan is unambiguous for its customers with no veiled charges.

Types of Vehicle Loans from the Bank

1. Two-Wheeler Loan

2. Vishesh Vahana Yojana for Rajasthan Government Employees

Some Crucial Attributes of SBBJ Two Wheeler Loan

1. Loan Amount:

The minimum loan amount that the borrower can take from the bank is Rs. 10,000, and the maximum credit is up to Rs. 75,000 or 12 times of the net monthly income, whichever is lower.

2. The margin of Loan:

The margin of State Bank of Bikaner and Jaipur two-wheeler loan is 20%.

3. Tenure of Repayment:

The bank offers a flexible repayment period from 36 to 60 months to settle the loan.

4. Security:

• Hypothecation of the motorcycle or movable asset you bought.

• The applicant needs to pay a noting fee of hypothecation to Regional Transport Office.

Eligibility Criteria for SBBJ Two Wheeler Loan

• Permanent workers of Central, State, and Quasi-Government.

• Employees of reputable PSUs, profit-making public limited firms, institutions, corporates, and multinationals of excellent reputation, and registered companies (with at least two years of service) that enjoy credit services from SBBJ with a credit rating of SBBJ-1 & SBBJ-4.

• The borrower should have the salary account maintained with SBBJ.

Documentation Required

• Photocopy of any of your identity proof such as Driving License, Voters ID, Aadhar Card or Passport.

• Photocopy of your address proof including any document bearing address such as Identity Card, Rental/ Lease Agreement or Ration Card.

• Income proof such as bank statements, salary slips, and IT Return statements.

SBBJ Bike Loan Processing Fees

The bank will charge a nominal fee as 1.15% of the approved loan amount.

Vishesh Vahana Yojana for Raj Government Employees

Attributes of Vishesh Vahana Yojana for Rajasthan Government Employees:

1. Loan Amount:

The minimum credit the borrower can avail from the bank as two-wheeler finance is Rs. 10,000 and the maximum amount is up to INR 75,000 or 12 times of your net monthly income, whichever is lower. The income of the spouse can't be included in this.

2. The margin of Loan:

The margin of SBBJ two wheeler loan is 10%, and for old vehicles, it's 40%.

3. Security:

1. Hypothecation of the motorcycle or two-wheeler you bought.

2. The applicant needs to pay noting fee of hypothecation to Regional Transport Office.

3. Third party guarantee can also be used for availing the loan.

Eligibility Criteria

1. The applicant must be of at least 18 years and above and maximum to the age of 55.

2. The regular and permanent employees of state government must have at least two years of service experience.

Documentation

• Photocopy of any of your identity proof such as Driving License, Voters ID, Aadhar Card or Passport.

• Photocopy of your address proof includes any document bearing address such as Identity Card, Rental/ Lease Agreement or Ration Card.

• Income proof such as bank statements, salary slips, and IT Return statements.

Processing Fees

The bank does not impose any processing fee to sanction a SBBJ two wheeler Loan.