SBI to provide pre-approved 2 Wheeler Loan “SBI Easy Ride” on YONO

One of the largest banks in the country, State Bank of India (SBI), has announced the launch of a pre approved 2 wheeler loan scheme “SBI Easy Ride” through YONO. Eligible SBI customers can avail these loans through YONO App from anywhere in India with just a click.

The Customers can apply for a loan of up to Rs 3 Lakh at a competitive interest rate of 10.5% per annum onwards for a maximum tenure of 4 years. The minimum loan amount has been fixed at Rs 20000.

The loan availed will be transferred directly into the dealer’s account. Loans of up to 85% of the ON - Road price of the vehicle can be availed under this scheme.

“We believe this digital loan offering would help customers in buying their chosen two-wheeler. At SBI, it is our consistent effort to offer unique, customized products and services that provide a convenient and hassle-free banking experience to our customers.

"While launching the product, Chairman Shri Dinesh Khara stated that “The product will also position the Bank at the initial stage of a customer’s life cycle by offering a two-wheeler loan and thereafter upgrade the relationship along with their growth. We hope the ‘SBI Easy Ride’ loan scheme will offer a seamless, and memorable two-wheeler owning experience to our customers."

In the Covid era, State Bank of India has launched various endeavours that offer gamut of banking & lifestyle services at the customer’s doorsteps. Since its launch in November 2017, YONO has gained wide accetance among customers with 89 million downloads and more than 42 million registered users.

SBI has partnered with over 110 e-commerce players in more than 20 plus platform include YONO krishi, YONO Cash and PAPL, and more features lined up for the future.

Note: This Article is specifically for the farming community so that they can take advantage of such offers by SBI.