Lakshmi Vilas Two Wheeler Loan

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Lakshmi Vilas Two Wheeler Loan

Lakshmi Vilas Bank Two Wheeler Loan Key Features

Lakshmi Vilas 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 of two-wheeler loans?

If you’re weary of waiting for the bus or haggling with taxi drivers, now is the time to get your own motorcycle. The ability to drive fast and safely is one of the main advantages of riding a two-wheeler.

Since a two-wheeler uses less fuel and is simpler to maintain than a sedan, it is a popular option for first-time car buyers. Rather than taking on the whole financial responsibility of a two-wheeler purchase, it is preferable to take out a two-wheeler loan and repay it in manageable EMIs.

  • Choose the two-wheeler loan form and brand that better fits your needs. Bank provides Super Cycle Loans if you like anything better than a normal bike.
  • When you register online, the bank will send a representative to your home to complete the paperwork, so you won’t have to wait in long lines.
  • You will save up to Rs. 12,500 as a result.
  • But that’s not the end of the story. The advantages of a Lakshmi Vilas two-wheeler loan are many.
  • The interest rate is 2% lower for Lakshmi Vilas account holders.
  • You can range from a 12-month to a 48-month repayment period.
  • Your loan will be approved right away, which means you won’t have to wait long to get your dream vehicle.

About Lakshmi Vilas Two Wheeler Loan

Lakshmi Vilas’s financial institution Two Wheeler mortgage has to turn out to be essential for a person to fulfil his dream of shopping for a brand new bike at any charge with any monetary resource. Lakshmi Vilas financial institution is offering the chance of a lifetime by offering the lowest Two Wheeler Loan rate of interest & reasonably priced EMIs.

Advantages of Lakshmi Vilas Two Wheeler Loan 

  1. Simple and hassle-free process.
  2. Quick Disbursal of mortgage Amount.
  3. Fulfil your needs by selecting the 2 Wheeler you love.
  4. Attractive value of interest.
  5. Easy compensation and Prepayment Method.

Factors Affecting  Two-wheeler Loan Application

  • Until taking out a two-wheeler loan from Indian Overseas Bank, consider the following considerations.
  • Your credit score. When you approach a lender in India for a loan, one of the first and most important criteria they consider is your credit score.
  • Secured vs Unsecured Loan Loan Amount Loan Duration Dealership Location

Lakshmi Vilas Two Wheeler Loan Eligibility

Your potential to repay the mortgage is the most important thing about deciding or not you’ll be eligible or not for the Lakshmi Vilas bike loan online. In accordance with are the most important criteria’s:

  • The candidate needs to be of not less than 21 years of age and most of 65 years of age to use for the loan.
  • If you’ve got a median month-to-month revenue of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re eligible for the Lakshmi Vilas two Wheeler loan.
  • Cibil rating has an instantaneous influence on your eligibility for a two-wheeler loan. If, in case you have a tall Cibil score, you could get the acclaim for the mortgage easily.

Lakshmi Vilas 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
Prepayment 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

Lakshmi Vilas 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

Laksmi Vilas Two Wheeler Loan EMI Calculator

The candidate has a way to understand the EMI’s prior to availing Laksmi Vilas Two Wheeler Loan. Thus, you could effortlessly test throughout the hyper below:

Two Wheeler Loan EMI Calculator

Laksmi Vilas Two Wheeler Loan Types

Lakshmi Vilas financial institution gives more than one sort of loan to its prospects, and you may have the choice of selecting one in every one of them as per your requirements. You may have the under two options:

  • Two Wheeler Loan – If you need to buy a two-wheeler and are looking to finance it, then Laksmi Vilas has one of providing for you. that you could avail of this mortgage at a ravishing rate of interest of 12%.
  • Super Bike Two Wheeler Loan – If you’re planning to purchase a Superbike and are searching for funds, then that is the most effective deal on hand for you at a fantastic rate of interest of 11.83%.

Lakshmi Vilas 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 Lakshmi Vilas Two Wheeler Loan

That you would be able to observe for Lakshmi Vilas financial institution Two Wheeler mortgage online by visiting Dialabank’s digital platform after which :

  1. Fill the fundamental software shape for 2 Wheeler Loan
  2. Please look forward to a name from our Relationship Manager
  3. Get customized help and make a selection essentially appropriate to provide in keeping with your needs.
  4. Enjoy your Two Wheeler.

Compare Bike Loan Interest Rates of the bank  with other banks

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

Other Available Products from Lakshmi Vilas Bank 

Lakshmi Vilas Personal Loan Lakshmi Vilas Gold Loan Lakshmi Vilas Home Loan
Lakshmi Vilas Credit Card Lakshmi Vilas Car Loan Lakshmi VilasEducation Loan

FAQs for Lakshmi Vilas Bank Two Wheeler Loan

✅ What is Lakshmi Vilas Bank Two Wheeler Loan?

The bank offers the chance to buy a bike with the edge of 15% of the receipt esteem. The base credit sum for the advance ought to be Rs. 10,000/ -The time of reimbursement for another bike credit is 60 months.

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

Contact the bank for the financing cost that will be relevant to you. The bank offers the chance to buy a bike with the edge of 15% of the receipt esteem. The base credit sum for the advance ought to be Rs. 10,000/ –

How does Lakshmi Vilas Bank Two Wheeler Loan work?

The bank offers the chance to buy a bike with the edge of 15% of the receipt esteem. The base credit sum for the advance ought to be Rs. 10,000/ –
The time of reimbursement for another bike credit is 60 months.

What is the Two Wheeler Loan Interest Rate in Lakshmi Vilas Bank?

It starts at 11.83% per annum.

How to check Two Wheeler Loan status in Lakshmi Vilas Bank?

Online process without login: Visit their Main Page.
Go to on Products.
Loans Select a two-wheeler loan.
Check two wheeler Loan Application Status.

How to calculate Two Wheeler Loan Interest in Lakshmi Vilas Bank?

Two Wheeler Loan EMI Calculator

What is the maximum loan amount I can avail myself of on Two Wheeler Loan from Lakshmi Vilas Bank?

Loan up to 90% of On Road Price or 100% of Ex-showroom Price.

What is the loan tenure of Lakshmi Vilas Bank Two Wheeler Loan?

One year to 4 years.

How much Processing Fee is applicable on Lakshmi Vilas Bank Two Wheeler Loan?

Up to 3% of the loan amount (maximum).

What are the EMI options available on Lakshmi Vilas Bank Two Wheeler Loan?

Most reduced EMI/Lac ₹ 2,625.

What are the charges for Prepayment in Lakshmi Vilas Bank Two Wheeler Loan?

From 3% to 10% of the outstanding principal.

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

No, you cannot get a top-up on the existing two-wheeler loan.

Do I need to provide a guarantor to avail myself of a Two Wheeler Loan from Lakshmi Vilas Bank?

Guarantee(s) of the proprietors of the insurance security, whenever acquired OR Personal assurance from an outsider with reasonable total assets or salary (MUST for four-wheeler advances)

What is the number for Lakshmi Vilas Bank Two Wheeler Loan agent?

The complementary client care number of the bank is 1800 425 2233.

Can I close Lakshmi Vilas Bank Two Wheeler Loan online?

Closing any of your current credit is simple, and one can do it by visiting the physical branch or mentioning a pre-conclusion on the web.

What is Lakshmi Vilas Bank Two Wheeler Loan Customer Care Number?

The complementary client care number of the bank is 1800 425 2233.

News about Two Wheeler Loan

2021-07-15:

PNB Housing Finance made a net profit of Rs 127 crore in the fourth quarter:
PNB Housing Finance reported a combined net profit of Rs 127 crore in Q4 thanks to retail loans such as home, personal, LAP, two-wheeler, car, education, and doctor loans, as well as deposits such as fixed and recurring deposits. In January-March, total revenue was Rs 1,834 crore, down from Rs 1,952 crore in the same period the previous fiscal year. Interest income dropped by more than 7% to Rs 1,670 crore in the third quarter, compared to Rs 1,803 crore a year earlier, due to the country’s turbulent economic condition.

2021-05-05:

Bangalore’s two-wheeler dealers advise reluctant customers to hire a motorcycle:
Automotive retailers are urging clients who are reluctant to take out bank loans to try leasing vehicles, according to reports. A car leasing firm, OTO Capital, recently announced a major extension of its relationship with Bangalore’s auto dealers. Since the COVID-related lockout restrictions were lifted, customers’ appetites increased. Many owners, on the other hand, choose to hire vehicles rather than taking out bank loans for two-wheelers or cars. This is due in part to the country’s precarious economic status.

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