EMI: ₹10,036/month at 12.5%. Min income: ₹17,608/month.
A ₹3 Lakh bike loan from SBI at 12.5% interest for 3 years will cost you ₹10,036 per month as EMI. You will pay a total interest of ₹61,296 over the loan tenure. The minimum monthly income needed is ₹17,608 (assuming no existing EMIs).
SBI Bike Loan EMI for ₹3 Lakh at 12.5% for 3 years is ₹10,036 per month.
You need a minimum monthly income of ₹17,608 for a ₹3 Lakh bike loan from SBI (at 12.5% rate, assuming no existing EMIs).
The total interest payable on ₹3 Lakh bike loan from SBI at 12.5% for 3 years is ₹61,296.
SBI charges a processing fee of 1% of loan amount + GST for Bike Loan.
SBI Bike Loan prepayment policy: Nil after 3 months.