SBL Motor Cycle Loan

Table of Contents

SBL offers a motorcycle loan specifically designed to help you finance your dream motorcycle.

General Features of the loan include:

Tenure: Available for 12 to 36 months.
Repayment method: Equally distributed through monthly installments.
First repayment date: Set one month after loan disbursement.
Debt Burden ratio: Maintained at 50:50.
Rate of Interest: Currently set at 17% per annum quarterly rest (Subject to change by the Head Office).
Loan Processing Fee: Charged at 1% of the loan limit.
Risk Fund: Set at 1% of the loan limit.
Transparency: No hidden charges.


Purpose	Purchase of a Motor Cycle
Ceiling	Maximum of 03 (Three) Lac. The motor cycle will be registered jointly, with SBL as the First party. Customer will bear insurance and registration charges.
Eligibility
	Minimum age: 25 years Maximum age at loan maturity: Up to 60 (Sixty) years Minimum service/Length of service: Regular employee with a minimum of two years of service Minimum Income: Minimum monthly income of Tk. 20,000/- (Twenty Thousand) only
Preferable	All Banks, All Gazzated Officers, Officers of Govt, Semi-Govt. organization & Multi National Companies. Teachers of public & private university, reputed schools & colleges.

To avail the loan, the following documents are required:

a. Letter of introduction from the employer.
b. Letter of undertaking for salary & terminal benefits assignment.
c. Complete Charge Documents.
d. For tangible assets, letter of Hypothecation.
e. Personal Guarantee of spouse/parents.
f. Personal Guarantee of colleague or any person accepted by the Bank.
g. Personal Net-Worth statement.
h. Post-dated Cheques.
i. One undated cheque.
j. Three copies of Passport size photographs.
k. TIN certificate.
l. National ID Card/Citizenship certificate from the competent authority.