All about Two Wheeler Loan for Bajaj Pulsar
The company has established in 1926, during the time period when India was making the big movements for Independence from the Britishers. Jmanalal Bajaj, founder of Bajaj company was a disciple of Mahatma Gandhi. The Bajaj is one of the top leading companies in India. The Bajaj group is not only limited to the automobile sector, they have widely spread to other sectors including home appliances, iron, and steel, insurance, travel, and finance sector.
Bajaj has brought the revolution in two wheeler industry with the model name pulsar. Bajaj Pulsar has brought the strong attraction from the youth. Pulsar is one of the revolutionary brands of Bajaj. Pulsar was first to come to the market in 2001, with its power-packed performance and features they have bagged the two wheeler industry. Currently, Bajaj has 7 variants in the market. In the following table, one can able to know the specifications of all the models of pulsar from Bajaj.
Bajaj Pulsar Variants
Pulsar NS 200
Pulsar NS 160
Pulsar 135 LS
Two Wheeler Loan for Bajaj Pulsar
Two wheeler loan is the affordable financial service. In a country like India which is a big home to middle-class families and they mostly run on two wheelers for their various purposes like at work, enjoyment. Under this consideration, bank has come up with the idea of providing two wheeler loan to every individual so that customer has not to shell a lot of money in a once from their pocket. Two wheeler loans come up with the lowest interest rates provided by the banks. Following a customer can find the eligibility and documentation criteria in order to meet the requirements of two wheeler loan.
Features of Two Wheeler Loan for Bajaj Pulsar
Following are the benefits of a two wheeler loan
- Margin: Most two wheeler loans will pay for up to 90% margin of finance. Which means that customer can make down payment of only 10% of their loan.
- Annual income: Banks often offer the loans to those people who are earning as low as INR 7000 per month.
- No prepayment charges: Most banks do not charge any kind of charges as prepayment if you are able to pay up your loan amount before tenure ends. This is often suitable for few individuals because it helps to clear off one debt fast.
- Other costs covered: 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.
- Loan tenure: Borrowers are provided with reasonable time to pay back for their two wheeler loan with tenures that ranges from 12 to 48 months.
- Credit score: For a first-time buyer of a vehicle or who is opting loan for the first time, two-wheeler loans is a great idea to open your file for the credit score.
Eligibility Criteria for Two Wheeler Loan for Bajaj Pulsar
Age of Customer
Minimum age -21 years
Maximum age-65 years
Salaried individual / self-employed
1 year among salaried individual and 6 months among self-employed
Minimum Annual Salary
Rs.84,000/- FOR SALARIED INDIVIDUAL
Rs.72000/- FOR SELF-EMPLOYED
Documentation Required for Two Wheeler Loan for Bajaj Pulsar
Photo identity proof
2 to 6 Colored passport size photograph
Passport/Voter ID/Driving license/Adhaar card
Last 6 months
passport/voter id/driving license/telephone bills
Interest Rates for Two Wheeler Loan for Bajaj Pulsar
Two Wheeler Loan interest rates are generally varied from 12.50% to 18.25% maximum. These rates are the lowest rates in comparison to other banks.