We have "Two Wheeler Loans" for you
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Nowadays everyone wants a vehicle in a house. Two wheelers are the most common and important for high, low, and middle-class peoples. Most people recommend two-wheelers rather than cars. Now, most of the work is only possible with two wheelers. Not only do most people buy bikes, scooters, and two wheelers for their desire and fun. As all young generation is strictly addicted towards high speed bikes and fancy looking motorbikes or you can say sports bikes. Among the total percentage, 70% of the population have two wheelers. Now the question arises here: hope everyone gets the two wheelers that easy, are they cheap in rates? The answer is simple there are many lenders who provide two wheelers loans so that everyone can buy it.
For different people, a two-wheeler serves different purposes. For some, it represents fulfilling a dream, while for others it represents a mode of transportation that can take them efficiently from one place to another. While most of us dream of owning that dream motorcycle or scooter, not everyone is capable of buying two wheelers with full payments, and other than a simple bike some of them are costly and hard to buy with cash. So to solve this issue two wheelers loan is the best option. It’s a kind personal loan and easy to get with any lender in the market.
Two wheelers loan is a kind of secured personal loan. It is very easy to get from any bank you want to take. Study all bank interest rates and benefits and then choose the bank which you like the most to take a loan. After that visit to the bank with complete documents and one more important thing before proceeding to the bank to check if you are eligible or not for the loan. Rather than the bank, you can also get a loan from a seller from which you would like to buy two wheelers.
Age: 19 to 60 years
Net monthly income: Min. Rs 18000 per month
Both salaried and self-employed avail for the loan
For salaried: last 3 month statement/Income proof
For self-employed: ITR required for at least 2 years/ 6 month bank statement
Good credit score
Identity proof:
Aadhar card,
Pan card ,
Passport,
Driving License
Voter id
Address proof:
Having same address on all id proof
Utility bills
rent agreement or registry copy
Two wheeler quotation
Income proof: Last 3 to 6 month bank statements
|
BANKS |
Interest Rate |
Lowest EMI per RS 10,000 |
|
12.65% |
Rs. 335 for 3 years |
|
|
14.03% |
Rs. 273 for 4 years |
|
|
10.70% |
Rs. 216 for 5 years |
|
|
Bajaj auto finance |
18.00% |
Rs. 254 for 5 years |
|
12.00% |
Rs. 332 for 3 years |
|
|
Allahabad Bank |
12.00% |
Rs. 262 for 4 years |
|
Andhra Bank |
10.35% |
Rs. 214 for 5 years |
|
7.75% |
Rs. 202 for 5 years |
|
|
Union Bank of India |
11.55% |
Rs. 330 for 3 years |
|
United Bank of India |
11.00% |
Rs. 217 for 5 years |
|
Corporation Bank |
12.35% |
Rs 334 for 3 years |
|
Indian Bank |
9.65% |
Rs. 211 for 5 years |
|
Karnataka Bank |
13.85% |
Rs. 232 for 5 years |
|
Jammu and Kashmir Bank |
9.65% |
Rs. 211 for 5 years |
|
Canara Bank |
13.55% |
Rs. 340 for 3 years |
Firstly visit lenders website or branch from which you want to get loan
Fill the application form and read all the term and conditions
Attach all required documents with an application form
After submitting form lenders will let you know that you eligible or not for the loan
Know More How To Apply ??
Know More About
You're eligible for a Two Wheeler Loans if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Two Wheeler Loans Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10.5% - 24% |
| Processing Fees | Varies with bank |
| Loan Tenure | year to 7 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Two Wheeler Loans EMI Calculator