Suryoday Small Finance Bank two-wheeler loan: Interest rates, documents and application process | Mint

The Suryoday Small Finance Bank (SSFB) provides users a clearly defined and streamlined process for seeking two wheeler loans. The objective of this product offering is to make vehicle ownership more affordable and accessible to aspirational families across the country.

With the benefit of competitive interest rates and minimal documentation, SSFB’s two wheeler loans are designed to meet the needs of individuals coming from different financial backgrounds.

Two-wheeler loan features

Now, SSFB’s two wheeler loan scheme provides for up to 90% financing of the on-road price of the vehicle. The loan amounts in this regard generally range from ₹50,000 to ₹1.5 lakhs.

Further, the repayment tenure extends up to 48 months. This clearly provides borrowers with much needed flexibility in the entire loan repayment cycle.

The applicable interest rates start from the range of 18% per annum and the bank ensures a hassle-free, digitally enabled application process with minimal paper work and documentation requirements.

Note: The terms and conditions discussed above are illustrative in nature. For the updated loan terms, applicable interest rates and associated conditions refer to the official website of Suryoday Small Finance Bank.

Step-by-step guide to getting a Suryoday two-wheeler loan

1. Visit the official website: Through the internet reach out to suryodaybank.com and then opt for the ‘Two-Wheeler Loan’ option.
2. Submit personal details: Fill in the necessary information such as name, contact details, amount of loan needed and your present location.
3. Carefully check the eligibility criteria: Use the online tool to understand your loan eligibility based on your income, repayment history, credit score and overall credit profile.
4. Recheck the details and submit application: Fill and complete the application form, recheck the same for errors. Do ensure that you put in all the required details and upload necessary documents.
5. Wait for the approval: The bank will review your application and communicate the decision promptly in a while. Do note the acknowledgement number provided to you at the end of your application. Keep it for future reference.
6. Discuss with the customer support team: If you have doubts and need help, then through the official website only reach out to the customer care team of the bank for guidance. They will provide you the required help in applying for your two wheeler loan in seamless fashion.

Documents needed to successfully complete the application

Applicants must furnish the following documents:

• Identity proof: Aadhaar card, passport or your PAN card will be required.
• Address proof: Utility bills, rent agreement, original electricity bill or voter ID.
• Proof of income: Original salary slips for salaried individuals or bank statements for self-employed applicants.

The bank focuses on minimal documentation. This helps in simplifying the application process, thus making it available to a broader range of applicants.

Contact and Support

For any queries, clarifications or doubts applicants can contact Suryoday Small Finance Bank’s customer service team on the number 1800-266-7711 as detailed on the official website. To check and obtain more details on the same, you can visit the official website of the bank: https://www.suryodaybank.com/

Through the official website you can also take the help of the bank’s AI chat bot named ‘TARA’. This is the bank’s 24×7 ‘smile officer.’ Further, the customer service team along with other bank representatives at any of the branches of the bank all across the nation are well equipped to guide you through the entire process of loan application and promptly address any important queries.

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