Powering the motorcycle with 124.4 cc 4-Stroke, 2-Valve, Twin Spark BSVI Compliant DTS-i Engine, the motor produces 11.6 [email protected] rpm and a peak torque of 10.8 @6500 rpm. The Pulsar 125 has ARAI-certified fuel efficiency figures of 57.5 kmpl. It received front telescopic forks with anti-friction bushes and 5-step adjustable Nitrox rear shocks. Both versions share almost the same features as every single body panel, component, chassis, and even cycle parts.
Bajaj always thinks about affordable bikes for their Indian buyers. Many think that the Bajaj Pulsar 125 comes at a premium price but against that price, buyers are getting 150cc styling, more power, and more torque which is none other manufacturer offering in the current market. We have mentioned the variant-wise price at below.
- Pulsar 125 Drum CBS – INR 72122/-
- Pulsar 125 Disc CBS – INR 76922/-
- Pulsar 125 Split Seat Drum CBS - INR73274/-
- Pulsar 125 Split Seat Disc CBS- INR80218/-
Two-wheeler loans are relatively easier to obtain and pay off. People who have the finances to pay for the bike in a single payment also go for two-wheeler loans because they see that by paying the loan in monthly installments, they can utilize the funds they have in various investments. Also, they continue to use the bike while paying for the loan where once the payment is done, the owner can sell the two-wheeler and go for another better motorcycle.
Features and Benefits of SBI Two-Wheeler Loan
- SBI loan can be used to purchase any kind of new two-wheeler
- No Advance EMI
- Lower interest rates and Lowest EMI
- Interest Calculated on Daily Reducing Balance
- Minimal documentation required
- Flexibility of payment of EMI anytime during the month
- Free Accidental insurance
- Income of co-applicant can be clubbed to increase the eligibility
- Optional SBI Life cover
The SBI two-wheeler loan is now calculated based on the 1-year MCLR rate of the State Bank of India. As per the official website shows, two-wheeler loans from SBI are available from as low as 9.05% above 1 year MCLR i.e. 16.05% p.a. onwards.
SBI Two-Wheeler Interest Rate and Processing Fee
SBI two-wheeler loan has the processing fees range from Rs. 125 to Rs. 250 along with applicable taxes and service charges. The amount is calculated as 0.75 percent of the two-wheeler loan amount sanctioned by SBI plus GST amount for the purchase of the vehicle.
There are two ways to apply for two-wheeler loans for Bajaj Pulsar 125. Either you can apply online by submitting all the required documents or by going physically to the bank, fill the form, and submit offline. We have mentioned both the ways to do application as here:
Application to SBI for Two-Wheeler Loans
1) SBI Online Loan Application for Bajaj Pulsar 125:There is a simple procedure to take a loan from SBI for Bajaj Pulsar 125. First of all, go to the official State bank of India website. Click on ‘Loans’ and select ‘Auto Loans’ in the drop-down menu. On the next page, you will see options for the ‘SBI Two Wheeler Loan Scheme’ or ‘Super Bike Loan Scheme’. Apply under the scheme of your choice.
It will also show EMI calculators to calculate your EMI amount for each month along with prevailing interest rates. For that, choose your desired motorbike i.e. loan for Bajaj Pulsar 125, you will know how much loan amount you need, and based on that you can vary your tenure and interest rate to know which will suit you.
You can also check your two-wheeler loan status, two-wheeler loan online approval and two-wheeler loan EMI calculator prevailing on the website under drop-down options.
2) SBI Offline Loan Application for Bajaj Pulsar 125:If you found difficulty in the online application or even if you want to know more and meet person to person for the loan requirement, go directly to any branch of SBI bank and meet the representative. It will be easy to understand and choose the tenure and rate of interest, also, there are chances of negotiation.
Now a days, every two-wheeler bike dealers have tie-ups with almost every bank and prestigious non-banking financial companies. You do not need to go personally to the banks to apply for the loan. At the time of purchase Bajaj Pulsar 125, ask for the loan requirement, a representative of the bank from the showroom will guide you for everything from loan tenure to documents.
SBI Loan for Bajaj Pulsar 125 Eligibility Criteria
- Minimum age: between 21 and 65 years.
- Minimum income: Rs.1.5 lakh for bikes and Rs.2.5 lakh for superbikes.
- For Agriculturists: the net annual income should be Rs.4 lakh have maintained an SB/CA/time deposit for one year.
- For Self-employed: SB/CA/time deposit maintain for at least one year
- For permanent Government Employees: employees like permanent employees of state and central government departments, PSUs, listed private sector companies, and corporations who maintain salary accounts can apply for SBI two-wheeler loan.
- Applicants who own proprietary or partnership firms.
- IT assesses who have maintained an SB/CA/time deposit for one year
- Existing customers of SBI loans with satisfactory repayment history.
The State Bank of India (SBI) two-wheeler loan can be repaid in three ways.
How to Repay State Bank of India (SBI) Two-Wheeler Loan
- Standing Instruction (SI): If you are an existing account holder with State Bank of India, standing instruction is the best mode of repayment of your bike loan. Your EMI amount will be debited automatically at a specified date.
- Electronic Clearing Service (ECS): This mode can be used if you don’t have SBI account but you would like your EMIs to be debited automatically at the specified date of the month.
- Post-Dated Cheques (PDCs): You can also submit post-dated EMI cheques at your nearest State Bank of India Loan Centre. Note that Post Dated Cheques will be collected at non-ECS locations only.
Documents Required for SBI Loan for Bajaj Pulsar 125
General Document List:The below list of documents is a general list to apply for SBI Loan for Bajaj Pulsar 125:
- Loan application form duly signed
- 2 Passport size photographs
- Identification of signature from records of the bank
- Statement of Bank Account/ Pass Book for the last six months
- Proof of identify (photocopies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
- Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill)
- IT returns for the three years for self-employed professionals
- Form 16/IT returns for the last two financial years for salaried employees
Document list for self-employed/professionals:The below list of documents is a list for self-employed or business professionals to apply for SBI Loan for Bajaj Pulsar 125:
- Signed loan application form
- 2 passport size photographs
- Identity Proof - Driving License/ PAN/ Passport/ Voter ID
- Address Proof - Registered Rent Agreement/ Passport/ License/ Utility Bill
- Income Tax PAN Copy
- Income Tax Return copies for the two preceding financial years acknowledged by ITO
- Income Documents – Last 2 years ITR
- Proof of official address for non-salaried individuals
- Business existence proof such as VAT/ service tax registration, business address proof, incorporation details in case of companies
- Latest salary-slip showing TDS certificate, Form 16, and all deductions