Two Wheeler Loan in Faridabad

Faridabad is a city in Haryana, Delhi. The city is a major Industrial hub. The city is an 8th fastest growing city in India. The population of Faridabad is around 14 lakhs. Today, the bikes cost is too high. It is very difficult for a common man to buy a bike. Two-wheeler Loan is a scheme which provides bike loans to people for purchasing a bike. It is a deal that helps people to fulfill their dream of buying a bike or a scooter. If you have been dreaming about a bike, but do not have enough funds for buying it, then availing a bank Two Wheeler Loan is the best deal for you. It is a scheme that offers monetary support to people and helps them by purchasing a bike and scooters. The loan can be used to buy a new bike according to one’s requirement. The amount can be repaid through EMIs.

The rate of Interest:11.80% (min).

Features & Benefits

  1. On an average, most two-wheeler loans will pay for up to 90% 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. Banks often offer these loans to people who are earning as low as 7000 for a salaried individual and 6000 for self-employed
  3. Banks do not charge any prepayment if you are able to pay up your loaned amount before your tenure ends. This is often suitable for few customers because it helps to clear off the debts faster.
  4. 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. 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. 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

  1. Age: Min 21 years, Max 65 years
  2. Income: Salaried Rs.70000 per annum, Self-employed Rs.80000 per annum
  3. Employment: at least 6 months for self-employed and 1 year for salaried

Document Required

  1. Photograph - 3 Photograph
  2. Identity proof - Voter ID Card / PAN Card / Passport / Driving License / Aadhar Card
  3. Age Proof - PAN Card / Passport / Driving License / Aadhar Card / Govt. issued a document with the date of birth / Marks Sheet with the date of birth
  4. Signature Verification - PAN Card / Driving License / Passport
  5. Ownership Proof (Any One) - Electric Bill / Tax Bill / Water Bill / Utility Bill / Power of Attorney
  6. Income Proof (Any One)- For Self-Employed-  Shop Establishment Certificate / Sales and Purchase Bills / ITR / Financials with all schedules of last 3 Years,  For Salaried Applicants - Salary Slip of last 3 Month

Banks which provide two-wheeler loans 

  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?

  1. Fill the online application form.
  3. Visit the lender.
  4. Submit the required documents online.
  5. Use EMI calculator and check your Eligibility.