Syndicate Bank Two Wheeler Loan

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Syndicate Bank Two Wheeler Loan

Syndicate Bank Two Wheeler Loan Features

SBI 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(At Application) 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 fed up with waiting for the bus or haggling with cab drivers, now is the time to get your own two-wheeler. A two-wheeler has many benefits, including the potential to travel quickly and easily. A two-wheeler consumes less fuel and is easier to maintain than a sedan, making it a common option for people looking to buy their first car. It is preferable to take out a two-wheeler loan and repay it in affordable EMIs rather than take on a two-wheeler purchase’s whole financial burden.

Factors Affecting  Two-wheeler Loan Application

  • Syndicate Bank Bank two-wheeler loans deliver the following factors making it one of the best two-wheeler loan options on the market.
  • Documentation criteria are minimal.
  • Appealing interest rates
  • Self-employed, salaried clients and agriculturists will all benefit from this service.
  • Repayment plans that are flexible
  • a large debt amount

Compare Bike Loan Interest Rates of the bank  with other banks

The following criteria can be used to compare two-wheeler loans from various lenders:

  • Payment fees – Most banks charge processing fees ranging from 0 to 1,000 dollars. You will compare 2 wheeler loan prices, deals, and cashback when applying online to get the best deal.
  • Insurance premium – While bike loans are guaranteed loans, it is recommended that you purchase an insurance policy before taking out a loan. The premium, however, varies from bank to bank and is determined by the risk compensation provided by different policies. As a result, closely examine the loan sanction letter to determine the coverage and premium.
  • Part prepayment and foreclosure – Part prepayment is whether you intend to pay off a portion of your debt early. Foreclosure occurs as you plan to pay off your debt in full before the due date. Under such cases, banks usually charge prepayment or foreclosure fees, which may vary from zero to three per cent. So be sure the low-interest two-wheeler loan you’re having doesn’t come with high prepayment or foreclosure penalties. It’s worth noting that some bike loans aren’t repaid on time.

Banks sell two-wheeler loans at either 80% of the on-road price or 100% of the ex-showroom price as a down payment. On the other hand, the on-road price is almost identical to the ex-showroom price at 80%.

Syndicate Bank Two Wheeler Loan

Syndicate Bank Two Wheeler Loan has gotten essential for a person to satisfy his fantasy about purchasing another bike at any expense with any cash related asset. Syndicate Bank is giving a stunning chance by giving Two Wheeler Loan Lowest Interest Rates and Affordable EMIs.

Advantages of Syndicate Bank Two Wheeler Loan

Syndicate Bank Two Wheeler Loan

Bike Loan is an ordinary need and has become a significant piece of our life. Different individuals need to visit better places, and they require a bicycle for that, as time is key for all of us. An enormous population of school-going students need a cruiser, as here and their vehicles may not open at the timings of school. Here is Syndicate Bank gives the credit for buying Two Wheelers at reasonable costs and clear Process.

  • Worth the upside of unfathomably low two-wheeler interest rate charges.
  • Swift Disbursal of Loan Amount
  • Adaptable EMI cost, elective on any day of the month.
  • Moderate Rate of Interests
  • Essential Repayment and Prepayment Methods

Syndicate Bank Two Wheeler Loan Eligibility

Your capacity to reimburse the credit is the best factor in picking whether you’ll be qualified or not for the Syndicate Bank Two Wheeler Loan. Coming up next are the important principles:

  1. A person between the age of 21 to 65 years can apply for the turn of events.
  2. On the off chance that you have a run-of-the-mill month-to-month remuneration of Rs 7000, you’re prepared for the Syndicate Bank Two Wheeler Loan.
  3. Cibil Score clearly impacts your ability for advancement. On the off chance that you have a low cibil score, the odds of your application being pardoned are high.

Syndicate 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

Syndicate Bank Two Wheeler Loan Documents Required

1. Salaried Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

2. Self-Employed Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

Syndicate Bank Two Wheeler Loan EMI Calculator

The applicant has the decision to understand the EMI’s before profiting Syndicate Bank Two Wheeler Loan. In like manner, you can, without a very remarkable stretch, check through the association underneath:

Two Wheeler Loan EMI Calculator

Syndicate Bank Two Wheeler Loan Types

Syndicate Bank offers different sorts of credits to its customers, and you have the decision of picking one of them as per your necessities-

Bike Loan – If you wish to buy a bicycle and want to back it, Syndicate Bank has the best suggestion. You can profit from this improvement at a drawing early expense of 12%.

Super Bike Two Wheeler Loan – If you want to buy a Superbike and are scanning for holds, by then, this is the best methodology open for you at a connecting with financing cost of 11.83%.

Syndicate 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 Syndicate Bank Two Wheeler Loan

  1. You can apply for Syndicate Bank Two Wheeler Loan online by visiting Dialabank‘s online entryway.
  2. Fill the  Application Form for Two Wheeler Loan
  3. Our Relationship Managers will connect with you at 9878981166
  4. Get changed help and pick the most real offer reliant on your necessities.

Syndicate Bank Two Wheeler Loan Two Wheeler Loan for Top Selling Bikes

Other Available Products from Syndicate Bank

Syndicate Bank Personal Loan

Syndicate Bank Education Loan

Syndicate Bank Gold Loan

FAQs for Syndicate Bank Two Wheeler Loan

✅ What is Syndicate Bank Two Wheeler Loan?

Syndicate Bank Two Wheeler Loan tends to provide financial help to the customers aspiring to buy new Two Wheelers. The bank has made the loan approval, amount disbursal, and the repayment process so much simpler and reduced the hustles with the documentation.  

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

You can apply for the Syndicate Bank 2-wheeler loan in two ways

Online: You can apply for a two-wheeler loan online on the bank’s website. They also offer EMI calculators, which you can use to calculate your EMI amount for each month. Once you choose your motorbike, you will know how much loan amount you need, and based on that, you can vary your tenure and interest rate to know which will suit you.

Offline: You can directly approach any branch of the bank and meet their representative to apply for a loan. Here you could negotiate your loan rate and tenure.

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

✅ How does Syndicate Two Wheeler Loan work?

To get the Syndicate Bank Two Wheeler Loan, the documents required will vary depending on the borrower’s type of employment and income source. Therefore, keep the following documents handy.

  • Passport size photos with the duly filled loan application form.
  • Proof of identity and address proof.
  • Salaried applicants will have to submit the salary slips for the last 3 months.
  • Bank account statements.
  • Salaried and self-employed applicants must submit the latest IT return statements.

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

For two-wheeler loans, the interest rate is Base Rate+2% per annum, which is compounded monthly. Thus, the total calculated rate of interest becomes 10.55% per annum.

✅ How to check Two Wheeler Loan status in Syndicate Bank?

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

  • First, visit the Bank’s Branch Office.
  • Then, check online on the Bank’s website.
  • Contact customer care.

✅ How to calculate the Two Wheeler Loan interest in Syndicate Bank?

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

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

Syndicate Bank offers to pay approximately up to 95% on-road funding of the Two Wheeler or  6 times the gross monthly salary of the applicant, whichever is low.

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

Minimum – 12 Months.

Maximum – 60 Months.

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

Syndicate Bank can fund 95% of the on-road price of the vehicle. Other charges like processing fee, insurance, the registration fee need to be covered by the user.

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

Syndicate Bank charges a Processing Fee of 2.0% of the total loan amount or a minimum of Rs.500.

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

Syndicate Bank allows the customers to pay the EMIs in 60 instalments through two 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 promptly.

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

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

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

  • Visit the Syndicate 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 Syndicate Bank Two Wheeler Loan Interest Online?

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

  • Visit the Syndicate 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 Syndicate Two Wheeler Loan for 3 months?

Syndicate Bank provides the customers with the option to go for a moratorium if they fail to pay interest for 3 months.

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

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

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

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

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

✅ Can I close Syndicate Two Wheeler Loan online?

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

  1. First, go to the bank website and apply for loan closure.
  2. Second, apply for loan closure through the mobile application.
  3. Third, visit the nearby bank branch.

✅ What is Syndicate Two Wheeler Loan Customer Care Number?

Syndicate Bank Customer Care representatives can be contacted at 1800 3011 3333.

✅ How can I get NOC from Syndicate 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

Two-wheeler dealers in Bangalore are advising hesitant buyers to lease a motorcycle.

Automotive retailers, according to sources, are advising clients who are hesitant to take out bank loans to consider leasing cars. For example, OTO Capital, a car leasing company, recently announced a significant expansion in its relationship with Bangalore’s automobile dealers. Customers’ appetite has improved after the constraints of COVID-related lockout have been relaxed. On the other hand, many buyers choose to lease cars rather than take out two-wheeler or car loans from banks. This is partly attributed to the country’s unstable economic situation.

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