Dhanlaxmi Bank Two Wheeler Loan

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Dhanlaxmi Bank Two Wheeler Loan

Dhanlaxmi Bank Two Wheeler Loan Key Features

Dhanlaxmi Two Wheeler Loan Interest Rate 11.83%* per annum
Min Loan Amount ₹ 10,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 4 years
Lowest EMI / Lac ₹ 2,625
Minimum Net Monthly Income Salaried – ₹ 7,000, Self Employed – ₹ 6,000
Age Criteria 21 years to 65 years(At Loan Maturity)
Types of Vehicle For All New Two-Wheelers (Bikes, Superbikes, etc.)
Processing Fee Up to 3% of the Loan Amount.
Foreclosure Charges 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months)
Basic Documentation ID Proof, Address Proof, Bank Statement

How to avail Two-Wheeler loans?

Here is your 5-step guide to get a Dhanlaxmi Bank Two Wheeler Loan.

  1. Pick a Two Wheeler Loan:
    Decide the brand and type of Two Wheeler Loan that is likely to serve your needs best. If you are looking for something beyond just a regular bike, Dhanlaxmi Bank also offers Super Bike Loans. You need not bother with standing in long queues since the bank will send its staff at your door step to complete the documentation work, when you apply online. You end up saving up to Rs. 12,500, that’s not all.
  2. Check your loan eligibility:
    You can check your loan eligibility in less than two minutes. Follow these simple steps to check your Two Wheeler Loan eligibility and you can get going with your loan application. You can go here to check the eligibility criteria like the minimum gross income, age limit of the applicant, and residential status among other parameters. On clicking on the ‘check eligibility’ option, you are taken to a login page.
  3. Calculate your Two Wheeler Loan EMI:
    After an eligibility check, you can find out how much EMI you are likely to pay out on your loan and in what duration. Find the Dhanlaxmi Bank Two Wheeler Loan EMI Calculator. Key in your personal and financial details along with the details of the vehicle model and indicative prices. Adjust as required to arrive at an optimal EMI.
  4. Apply online:
    Having done your homework, you can simply go visit the webpage online and apply for your Dhanlaxmi Bank Two Wheeler Loan. You will be asked to fill your personal and financial details. You will also need to provide exact details about the vehicle like the RTO location, Dealer’s name and on road price. Since the entire approval process is digital, you can get your Two Wheeler Loan application status in 15 minutes straight.
  5. Submit documents:
    Dhanlaxmi Bank has the simplest and most hassle free documentation process. Here is a checklist of Two Wheeler Loan documents.

Factors Affecting two wheeler loan application

Here are the factors that affect the interest rate on your bike loan.

Your Credit Score:

Whenever you approach a lender for a loan in India, one of the first and most important aspects they take note of is your credit score. In simple terms, your credit score is a number that is assigned to you by credit rating agencies after taking various factors into account. The factors considered while calculating your credit score include:

  • The total number of loans you have taken in the past.
  • The total amount of loan you have taken.
  • Number of timely payments you have made in the past.
  • Missed payments, if any.

Credit rating agencies assign you a score on a scale of 900, and anything above 750 is deemed to be a good score. Your credit score helps the lender assess your creditworthiness, so that they can understand whether or not you are a responsible borrower. In order to secure a bike loan with a low rate of interest, make sure that you have a good credit score. This will let the lender know that you are good for the amount you owe.

Loan Amount:

The second factor that affects the interest rate on your bike loan is the total amount of loan you have applied for. Most financial institutions offer up to 85% of the current on-road price of your bike as a loan. It means higher the cost of your bike, the bigger the amount of loan. This will also increase the rate of interest. You can easily use a bike loan EMI calculator to estimate your monthly repayments.

This is because when a financial institution is lending you a higher loan amount, the amount of risk is high as compared to a loan with a lower amount. Thus, the lender charges you a higher interest rate to cover their losses and justify their risk.

Loan Tenure:

As a general rule of thumb, the longer the tenure of the loan, the higher will be the interest rate. The reason behind this is simple. When you take a longer time to pay back your loan amount, the chances of you defaulting on your loan increases significantly. Thus, increasing the risk associated with your loan. In order to justify the risk and cover their losses in case of a default, a lender will charge you a high rate of interest. Therefore, if you want a loan with a lower interest rate, choose the loan that has a shorter tenure. You can use a bike loan EMI calculator to figure out how much you need to pay per month once you bring home your two-wheeler.

Dealership Location:

If you have been looking to buy a bike for some time, then you would have noticed that the price of the same model varies from one location to another. Depending on the location of the dealership and the taxes, the manufacturer’s cost of delivering the bike also vary. In order to recover the extra charges incurred by the manufacturer, prices of the two-wheelers may vary at different locations.

Since the price of the vehicle is vary, the loan amount you apply for will also be different, owing to either a higher or lower rate of interest charged to you. Thus, if you want a bike loan with a lower rate of interest, do your research and choose a dealership where the price of your bike is significantly low.

Secured vs Unsecured Loan

Many first-time borrowers might be not aware of this, but there are basically two types of loans – secured loan and unsecured loan. In simple terms, a secured loan is one where you need to pledge an asset as a security. On the other hand, you do not need collateral to obtain an unsecured loan.

Depending on the lender, you might have the option of choosing between either type of loan or just one. Along with this, depending on the type of loan you choose, the interest rate will vary. It has been generally observed that unsecured loans come with a higher rate of interest than secured loans, owing to the fact that the risk associated with the former is higher.

Compare Bike Loan Interest Rate Of Dhanlaxmi Bank with other Banks

Two Wheeler Loan Interest Rate in India 

Bank Two Wheeler Loan Interest Rates* Lowest EMI Per ₹ 10 Thousand For Max Tenure
Axis Bank 10.85% ₹ 217 for 5 years
SBI 16.05% ₹ 352 for 3 years
HDFC Bank 9.10% ₹ 249 for 4 years
PNB 9.55% ₹ 210 for 5 years
Bajaj Auto Finance 13.26% ₹ 338 for 3 years
IndusInd Bank 21.00% ₹ 377 for 3 years
Allahabad Bank 10.40% ₹ 214 for 5 years
Andhra Bank 9.90% ₹ 212 for 5 years
Bank of India 7.45% ₹ 200 for 5 years
Union Bank of India 9.90% ₹ 322 for 3 years
United Bank of India 9.55% ₹ 210 for 5 years
Corporation Bank 9.90% ₹ 322 for 3 years
Indian Bank 10.40% ₹ 214 for 5 years
Karnataka Bank 8.48% ₹ 205 for 5 years
Jammu And Kashmir Bank 8.70% ₹ 206 for 5 years
Canara Bank 9.00% ₹ 318 for 3 years

About Dhanlaxmi Bank Two Wheeler Loan

Dhanlaxmi Bank Two Wheeler Loan has become essential for an individual to fulfil his dream of buying a new bike at any cost with any financial resource. Dhanlaxmi Bank is providing the opportunity of a lifetime by providing Two Wheeler Loans with Lowest Interest Rates & Affordable EMIs.

Advantages of Dhanlaxmi Bank Two Wheeler Loan Dhanlaxmi Bank Two Wheeler Loan

  1. Easy and hassle-free process
  2. Quick Disbursal of Loan Amount
  3. Fulfil your wants by choosing the Two Wheeler you love
  4. Attractive Rate of Interests
  5. Easy Repayment and Prepayment Method.

Dhanlaxmi Bank Two Wheeler Loan Eligibility

Your ability to repay the loan is the biggest factor in deciding whether you’ll be eligible or not for the Dhanlaxmi two-wheeler loan. The following are the major criteria’s: 

  • The applicant should be of at least 21 years of age and a maximum of 65 years of age to apply for the loan. 
  • If you have an average monthly income of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re eligible for the Dhanlaxmi two Wheeler loan best offers.
  • Cibil Score has a direct impact on your two-wheeler loan eligibility for the loan. If you have a high Cibil score, you can get the approval for the loan easily. 

Dhanlaxmi Bank Two Wheeler Loan Interest Rate, Fees and Charges

Interest Rate Starts at 11.83% p.a.
Processing Fee Up to 3% of the loan amount (maximum)
Prepayment Charges From 3% to 10% of the outstanding principal
Pre-payment charges Within 4 to 6 months – 10% of principal outstanding
Within 7 to 12 months – 6% of principal outstanding
13-24 months – 5% of principal outstanding
Post 24 months – 3% of principal outstanding
Prepayment is not allowed within three months of EMI repayment

Dhanlaxmi Bank Two Wheeler Loan Documents Required

Salaried Individual

Category Documents Required
Identity Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

Self-Employed Individual

Category Documents Required
Identity Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

Dhanlaxmi Bank Two Wheeler Loan EMI Calculator

The applicant has the option to know the EMI’s before availing Dhanlaxmi Two Wheeler Loan. Thus, you can easily check through the link below:

Two Wheeler Loan EMI Calculator

Dhanlaxmi Bank Two Wheeler Loan Types

Dhanlaxmi Bank offers multiple types of loans to its customers and you have the option of choosing one of them as per your requirements. You have the following two options:

  1. Two Wheeler Loan – If you wish to buy a two-wheeler and wish to finance it then Dhanlaxmi has the best offer for you. You can avail of this loan at the lowest two-wheeler loan interest rate of 12%.
  2. Super Bike Two Wheeler Loan – If you’re planning to buy a Superbike and are looking for funds, then this is the best deal available for you at an attractive interest rate of 11.83%.

Dhanlaxmi Bank Two Wheeler Loan Pre Calculated EMI

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

How to Apply for Dhanlaxmi Two Wheeler Loan

You can apply for Dhanlaxmi Bank Two Wheeler Loan online by visiting Dialabank’s digital platform and then : 

  1. Fill the basic Application Form for Two Wheeler Loan
  2. Please wait for a call from our Relationship Manager
  3. Get personalised assistance and choose the most suitable offer based on your needs. 
  4. Enjoy your Two Wheeler. 

Dhanlaxmi Bank Two Wheeler Loan for Top Selling Bikes

Other Available Products from Dhanlaxmi Bank 

Dhanlaxmi Personal Loan Dhanlaxmi Gold Loan Dhanlaxmi Home Loan
Dhanlaxmi Credit Card Dhanlaxmi Car Loan Dhanlaxmi Education Loan

FAQs for Dhanlaxmi Bank Two Wheeler Loan

✅ What is Dhanlaxmi Bank Two Wheeler Loan?

Dhanlaxmi Bank Two Wheeler Loan is intended to provide financial help to the customers facing sudden expense issues to finance their Two Wheeler. Dhanlaxmi Bank provides high standard service, innovative benefits, and affordable installments (EMIs) facilities to the customer.  

✅ How can I get a Two Wheeler Loan from Dhanlaxmi Bank? 

  • The age of the applicant should be between 21 and 65 years.
  • Applicants must have a stable income(Differs for salaried and self-employed customers).

You can also visit Dialabank to get assistance to apply for the Dhanlaxmi Bank Two Wheeler Loan.

✅ How does Dhanlaxmi Two Wheeler Loan work?

Visit the Bank website or branch office and do the following

  • Submit the signed loan application form
  • Attach Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof – Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months payslip, bank statement of 3 months showing salary credit and any EMI debit

✅ What is the Two Wheeler Loan interest rate in Dhanlaxmi Bank?

Dhanlaxmi Bank offers interest for Two Wheeler Loan starting at 12.35% per annum and can go up to 13.15%. The rates are expected to fluctuate depending upon the loan factors.

✅ How to check the Dhanlaxmi Bank Two Wheeler Loan status?

To check the loan status you can do any of the following:

  • Visit the Bank’s Branch Office.
  • Check online on the Bank’s website.
  • Contact customer care.

✅ How to calculate Two Wheeler Loan interest in Dhanlaxmi Bank?

To calculate the interest rate for Dhanlaxmi Bank Two Wheeler Loan visit Dialabank.

✅ What is the maximum loan amount I can avail on Two Wheeler Loan from Dhanlaxmi Bank?

Dhanlaxmi Bank offers to pay approximately pay 75% of the on-road price of the Two Wheeler. The maximum amount allowed for a two-wheeler loan Rs 1 Lakh.

✅ What is the Loan tenure of Dhanlaxmi Bank Two Wheeler Loan?

Minimum – 12 Months.

Maximum – 36 Months.

✅ Can I get a 100% Dhanlaxmi Bank Two Wheeler Loan?

No, Dhanlaxmi Bank can only fund 75% of the on-road price of the vehicle.

✅ How much processing fee is applicable to Dhanlaxmi Bank Two Wheeler Loan?

Dhanlaxmi Bank charges a Processing Fee of 0.50% of the total loan amount or a minimum of Rs.500.

✅ What are the EMI options available on Dhanlaxmi Bank Two Wheeler Loan?

Dhanlaxmi Bank allows the customers to pay the EMIs through twp modes.

  1. Online Payment
  2. Post-dated cheques (PDCs)

Online payment is one of the safest and easiest modes of payment as the customer needs not to submit PDCs in a timely manner.

✅ What are the charges for Prepayment in Dhanlaxmi Bank Two Wheeler Loan?

Dhanlaxmi Bank does not charge any fee for the prepayment of the loan.

✅ Can I get a top-up loan on my existing Dhanlaxmi Bank Two Wheeler Loan?

Yes, you can get a new loan on your existing Two wheeler loan. The EMIs will be calculated according to the total amount of both the loans. You can also choose to keep the EMIs separate.

✅ Do I need to provide a guarantor to avail of a Two Wheeler Loan from Dhanlaxmi Bank?

A third person guarantor is not compulsory for the Two Wheeler Loan. However, if some conditions are not met a guarantor may be required.

✅ How to get Dhanlaxmi Two Wheeler Loan Statement?

  • Visit the Dhanlaxmi Bank website and log in from your account
  • Check the loan status and download the statement
  • The statement can also be downloaded through a mobile application

✅ How to Pay Dhanlaxmi Bank Two Wheeler Loan Interest Online?

Customers can pay the interest amount on the Dhanlaxmi website. To do so

  • Visit the Dhanlaxmi Bank site, log in, enter the amount, and select your bank.
  • Login to Your Bank’s Website Net Banking.
  • Confirm Payment.
  • Receive Confirmation.

✅ What if I can’t pay the interest on Dhanlaxmi Two Wheeler Loan for 3 months?

Dhanlaxmi Bank provides the customers with the option to go for a moratorium in case they fail to pay interest for 3 months.

✅ How can I apply for EMI Moratorium on Dhanlaxmi Two Wheeler Loan?

Customers can apply for the EMI moratorium by contacting the bank.

  • SMS or e-mail.
  • Dhanlaxmi Bank’s website.
  • Visiting the nearest bank branch.

✅ What is the number for the Dhanlaxmi Two Wheeler Loan agent?

We at Dialabank are keen to provide you assistance for Dhanlaxmi Two Wheeler Loan, you can reach out to us at 9878981166.

✅ Can I close Dhanlaxmi Two Wheeler Loan online?

There are multiple ways through which you can close the Dhanlaxmi Bank Two Wheeler Loan:

  1. Go to the bank website and apply for loan closure.
  2. Apply for loan closure through the mobile application.
  3. Visit the nearby bank branch.

✅ What is Dhanlaxmi Two Wheeler Loan Customer Care Number?

Dhanlaxmi Bank Customer Care representatives can be contacted at 1800 425 2407.

✅ How can I get NOC from Dhanlaxmi Bank for Two Wheeler Loan?

Once your loan is closed, the bank will issue a NOC within 3 working days and send it on your registered Email Id. A physical copy of the NOC can also be issued as per the customer’s demand.

News about Two Wheelers 

2021-08-10:

India’s longest-running two-wheelers that are on sale even today India has a long and proud history of bikes, scooters, and mopeds. Some of these started their life in the country decades back and are going strong in the market even today. 

2021-06-01:

Two-wheeler sales in April 2021 were affected by the second wave of coronavirus.Two-wheeler major India Yamaha Motor to shut down manufacturing at its two plants from May 15-31 

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