SBL Motor Cycle Loan

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.
PurposePurchase of a Motor Cycle
CeilingMaximum of 03 (Three) Lac. The motor cycle will be registered jointly, with SBL as the First party. Customer will bear insurance and registration charges.
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
PreferableAll 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.

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