Two Wheeler Loan

Two-wheeler loan is one of the affordable financial product provided by the banks. This loan was provided in the segment of the low-interest rate which makes it possible in the reach of every citizen of a country like India, which is basically a big home for middle-class families and they mostly run on two-wheelers for their various purposes like at work, enjoyment etc. Considering this, the banks have come up with the idea of providing two wheeler loan to every individual so that customer has not to shell a lot of money in a once from their pocket. Two wheeler loans come up with the lowest interest rates provided by the bank. Following paragraph, the customer can find the features, eligibility and documentation criteria in order to meet the requirements of two wheeler loan.

Features of Two Wheeler Loan

  1. Margin provided by banks: On an average, most two-wheeler loans will pay for up to 90% to 98% margin of finance depending on the individual to individual. Which further results in the customer can make down payment of only 10% of their loan.
  2. Annual pay/income/salary: Banks often offer these loans to people who are earning as low as INR 7000 per month for a salaried individual and INR6,000/- for self-employed
  3. No prepayment charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends. This is often suitable for some because it helps to clear off your debts faster if you can.
  4. Extra charges covered: These loans cover the cost of accessories, insurance, and even registration. This means that customer getting finance for not only on the vehicle but the essential expenses on the same.
  5. Loan Tenure: Borrowers are provided with reasonable time to pay back for their two-wheeler loan with tenures that ranges from 12 to 48 months and in some cases it extended to 5 years.
  6. Credit score/CIBIL: For a first-time buyer for a vehicle or one who is going to opt loan for the first time, two-wheeler loans is a great idea to open the file for the credit score. The customer should have their credit score above 700.

Eligibility Criteria

Age

Min. age -21 years

Max. age-65 years

EmploymentStatus

Salaried individual / self-employed

EmploymentTenure

1 year of salaried individual and 6 months for self-employed

Min Annual Income

Rs.84,000/- ( salaried INDIVIDUAL)

Rs.72000/- (FOR SELF-EMPLOYED)

Documentation Required

Photo ID proof

2 to 6 Colored passport size photograph

Identity proof

Passport/Voter ID/Driving license/Adhaar card/Pan card

Residence proof

Electricity bills/passport/voter id/driving license/Telephone bills/Pan card

Bank Statement

Last six months

Residence Proof

Electricity bills/rental agreement/property/driving license/ration card

Interest Rates

Two Wheeler interest rates generally vary from bank to bank and it depends upon individual case 12.50% to 18.25% maximum. These rates are one of the lowest among all rates in comparison to other loans provided by banks.

About Aurangabad

Aurangabad is the city lies in the Maharashtra state which lies in the sub-tropical region of India. It is famous for Bibi ka Maqbara shrine which is styled as Taj mahal. According to 2011 census, the state holds the population of 11.8 lakhs citizen. Aurangabad lies in the state of Bihar as well. It is the population of  2,540,073citizens so far. According to 2011 census, the state holds the population of 11.8 lakhs citizen. The people of this statement speaks two languages mainly Magahi and Hindi. It rests in the alluvial plain on the Adri river. Aurangabad has an agrarian economy. This state lies in the drought-prone area. Surya Mandir, Deo which is famous for that puja in Bihar.

Following are the banks which provide two-wheeler loans at affordable rates in Bharatpur:

  1. HDFC Bank
  2. Axis Bank
  3. Bank of Baroda
  4. Canara Bank
  5. Central Bank of India
  6. City Union Bank

How to Apply?

Apply for the two-wheeler loan by click on the link below:

  1. http://www.dialabank.com
  2. Dialabank provides the document pickup facility from your doorstep without any extra charges.
  3. Dialabank is one of the most reliable platforms to apply for a two-wheeler loan.