SBI has launched a pre-approved 2-wheeler loan called ‘SBI Easy Ride’ on YONO

The State Bank of India (SBI) through its YONO platform, has established a pre-approved 2-wheeler lending scheme called “SBI Easy Ride.” SBI clients who are eligible can apply for end-to-end digital two-wheeler loans through the YONO app instead of visiting a bank branch.

“Customers can apply for an Easy Ride loan for up to Rs 3 lakh at a low interest rate of 10.5 percent per annum and a maximum term of 4 years. A minimum loan amount of Rs 20,000 has been set “According to the bank’s press statement.

The loan will be promptly deposited into the dealer’s account. According to the SBI news release, loans of up to 85% of the vehicle’s on-road price can be obtained under this scheme.

“The product would position the Bank in the initial stage of a customer’s life cycle by offering a two-wheeler loan, and then upgrade the connection along with their growth,” said SBI Chairman Dinesh Khara. We anticipate that our customers will find the ‘SBI Easy Ride’ lending programme to be a seamless and memorable two-wheeler ownership experience.”