About J & K Grameen Bank Two Wheeler Loan
Fulfilling the J & K Grameen Bank Two Wheeler Loan Eligibility criteria gives an opportunity to individuals who are unable to buy two-wheelers with their monthly amount. J&K Grameen Bank Two Wheeler Loan lets individuals buy their dream two-wheeler.
- J & K Grameen Bank offers an interest rate of 8.70% on two-wheeler loans.
- Their processing fee is 0.50% of the loan amount with a minimum of Rs.250.
- For availing of the benefit of the J&K Grameen Bank Two Wheeler Loan, you need to be between 18 years and 65 years.
- The maximum loan amount that J&K Grameen Bank offers for Two WHheeler loans is 90% of the ex-showroom price.
J & K Grameen Bank Two Wheeler Loan Eligibility Criteria
J & K Grameen Bank Two Wheeler Loan Eligibility is quite similar to the general requirements made by most banks to provide a loan. They are as follows:
- The minimum age requirement for availing of J&K Grameen Bank Two Wheeler Loan should be 21 years, and the maximum should be 65 years.
- An individual must be either salaried or self-employed
- The maximum tenure period can be up to 7 years
- The interest rates start from 9.50%
- A healthy CIBIL Score is essential for availing of the J&K Grameen Bank Two Wheeler Loan.
Factors Affecting J & K Grameen Bank Two Wheeler Loan Eligibility
- Age: The minimum age should be 21, and the maximum should be 60.
- Income: More the payment, more the chances of a two-wheeler loan. As you have a high income, the bank sees that as a security that you’ll be able to repay the loan. Thereby, your chances of availing of a two-wheeler loan increase.
- CIBIL Score: CIBIL Score is of utmost importance. You need to have a CIBIL score of more than 700 to have a higher chance of availing of a loan.
- Work Experience: Before you get a loan, banks do background checks, and they also check the company where you work and the time period you work for. The longer the time period in the same company more will be the chances of getting a two-wheeler loan.
Documents Required for J & K Grameen Bank Two Wheeler Loan
J & K Grameen Bank Two Wheeler Loan Eligibility FAQs
✅ What is the interest rate charged by J & K Grameen Bank for a two-wheeler loan?
They offer interest rates from 8.70% to 9.20%
✅ Can a 16-year-old take a two-wheeler loan from J&K Bank?
No, the minimum age limit is 21.
✅ Is a credit score important for getting a loan?
Yes, you must have a healthy credit score for increasing your chances of getting a loan.
