A two-wheeler loan is a secured retail credit facility used to finance the purchase of a scooter, motorcycle, moped or bike, including battery-operated and electric two-wheelers, with the vehicle usually hypothecated to the lender until the borrower repays the amount over regular instalments. It suits salaried employees, pensioners, professionals, self-employed individuals and those engaged in agricultural activities who prefer to spread the cost of a bike rather than pay the full price upfront.
State Bank of India, a public-sector bank founded in 1955 and headquartered in Mumbai, offers this finance under its Two-Wheeler Loan scheme, which covers the purchase of new two-wheelers of reputed make, with registration with the RTO required.
State Bank of India's version emphasises eligibility across a broad set of borrower categories, including agriculturists, and highlights a streamlined process for existing customers, with waivers of certain documentation for account holders who meet the bank's conditions. The bank assesses affordability using income thresholds and instalment-to-income limits that differ by borrower category. Approval, loan amount and the terms offered are decided case by case against the bank's eligibility and income-assessment norms, and sanction is not guaranteed.
At 11.7%, State Bank of India has one of the lowest starting rates of the 10 lenders we track for two-wheeler loans.
Manufacturer-captive schemes (e.g. subvented festive offers) can carry very low headline rates, but check the processing fee and any bundled add-ons — the effective cost is what matters. Compare against a bank two-wheeler loan.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.