Honda Grazia 2020 is available in total six colors Pearl Amazing White, Matte Marvel Blue Metallic, Neo Orange Metallic, Pearl Spartan Red, Pearl Night Star Black, and Matte Axis Grey Metallic.
The Honda Grazia 2020 has seen the most notable increase in sales since its launch. In August 2020, the Honda sold a total of 12,588 units, which is a 71 percent rise from the 7,356 units that were sold in August 2019. For the April-August 2020 period, sales are 23,056 units.
In India, it’s a dream of many youngsters to own and ride a two-wheeler or scooter as soon as they come of age. From the past few years, banks and some NBFCs provide loan facilities and easy financing provided such as the SBI two-wheeler loan.
If you’re thinking to buy Honda Grazia 2020, it’s important to know the SBI loan features, interest rates, SBI down payment, processing fees, and other factors of two-wheeler loan prevailing in the market.
Top 5 Advantages to take SBI loan to buy two-wheeler
1) Interest RatesBanks provide low-interest rates for making bikes or scooter buying convenient. The rate of interest depends on the price of two-wheeler and market variations, your level of income, where do you live, etc. But the overall interest rate provided by banks has decreased over the years.
2) High Coverage of LoanIt is always favorable to receive a higher amount on your loan especially quoting the on-road price of the two-wheeler if you’re low on budget. Banks understand this and provide maximum coverage.
3) Approval of LoansYou can apply for a loan online and receive the required amount in your bank account with just a few clicks on a bank website.
4) Loan for any bikeBank’s personal loans cover amounts up to 5 lakh which includes the purchase of buying a scooter or a bike, no matter.
5) Low Burden on BudgetIt is convenient to avail of a loan and pay easy installments rather than paying the full amount for a scooter purchase if you can afford to pay the whole amount at once. You can also accumulate savings while paying for your loan installments.
SBI Loan Features- SBI Two Wheeler Loan for Honda Grazia 2020
- SBI Two Wheeler Loan can be used to purchase any kind of new two-wheeler including Honda Grazia 2020
- Best interest rates and Interest calculated on daily reducing balance
- Minimum documents are required to apply for a loan
- Lowest EMI on scooters
- Easy available overdraft facility
- Free accidental insurance
- Longest repayment tenure up to 7 years with optional SBI life cover
- The flexibility of payment of EMI anytime during the month.
- Two applicants can apply for a clubbed loan to increase the loan amount
- No pre-payment penalties on Honda Grazia loan.
The SBI two wheeler loan is now calculated based on 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 Loan Interest Rate for Honda Grazia 2020
SBI two-wheeler loan or Honda Grazia loan from SBI has the processing fees range from Rs. 250 to Rs. 500 along with applicable taxes and service charges. The amount is calculated as 1.50 per cent of the two wheeler loan amount sanctioned by SBI for purchase of the vehicle.
SBI Two Wheeler Loan Processing Fees for Honda Grazia 2020
The below are the easiest steps to online apply for SBI two-wheeler loan:
How to apply for SBI two-wheeler loan
- Visit the official website of State Bank of India.
- Click on the ‘Loans’ tab.
- In the drop-down menu, select ‘Auto Loans’.
- On the next page, you will see the option ‘SBI Two Wheeler Loan Scheme’
- Click on the ‘Apply Now’ button.
- You will be redirected to a page where you can fill in your account and contact details.
- An SBI representative will contact you by phone or email.
- Follow the steps according to his/her guidance.
Or, you can also apply offline at any SBI bank if it is convenient. Go directly to any branch of SBI and meet their representative to apply for a loan. They will give an idea about the tenure and rate of interest for the applicant.
However, most of the dealers have tie-ups with banks or NBFCs. You do not need to personally go to the banks to avail the loan and stand in a long queue. At the time of purchase, you can avail an SBI loan for a two-wheeler from a dealer.
Documents Required for SBI Loan for Honda Grazia 2020
General Document List:
- The below list of documents is a general list to apply for SBI Loan for TVS Jupiter.
- Signed loan application form filled up accurately
- Valid identity proof such as voters ID/Passport/PAN card
- 2 passport size photographs
- Identification of signature from records of the bank
- Bank account statements for the last 6 months
- Proof of residential address such as utility bills, passport, tax receipts, etc.
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 TVS Jupiter:
- 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