All About Two Wheeler Loan For Honda Activa 4G
Honda Motor Company
Honda motor company is the Japan-based motor company. Honda deals with the manufactures of automobiles, aircraft, motorcycles and power equipment. Since 1959, Honda is the worlds largest manufacturers of motorcycles. It also deals with the largest manufacturers of internal combustion engines with the production of 14 million products each year.
The company was founded by Soichiro Honda. In his initial years, he used to tune cars for the racing championship. It was incorporated on 24 September 1949. its headquarters is in Minato, Tokyo, Japan. Honda has its 3 divisions namely Acura, Honda automobiles, Honda motorcycles. Honda has come up with its various differently designed engines in the auto sector which made the huge impact the auto industry. Honda has greatly known for the manufacture of cars, bike, and scooters in India. Below you will find the most beloved vehicle of inia and its features.
Two Wheeler Loan For Honda Activa 4G
When there was a decline in the trend of scooters in the Indian market Honda has come up with its great product which brings the inflation in the scooter market. Honda Activa has made the huge impact in the increase of the manufacturers of scooters in the Indian market which raises the two wheeler industry to the next level. Honda Activa was introduced to the market in 2000. With the rise In the technology, Honda has improvised their vehicle with 4g technology to increase the efficiency of vehicles and meet the demands of the customer in today’s world. Following are the specifications of 4G technology.
Self and kick start
Two Wheeler Loan For Honda Activa 4G
Two wheeler loans is the affordable financial service provided by a bank. A country like India is a big home to middle-class families and they mostly run on two-wheelers for their various purposes like at work, enjoyment, enjoyment purposes etc. Under this consideration, the 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 Honda Activa 4G
Following are the numerous benefits of a two wheeler loan
- Margin: On an average, most of the two wheeler loans will pay up to 90% margin of finance. Which means that customer can make down payment of only 10% of their loan.
- Annual income/salary: Banks offer these loans to people who are earning as low as INR 7000 per month.
- No prepayment charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends. This is suitable for the ones because it helps to clear off your debts faster if you can.
- 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.
- Tenure: Borrowers are provided with the time to pay back for their two-wheeler loan with tenures that ranges from 12 to 48 months.
- Credit score/CIBIL score: For the first-time buyer for a vehicle or one who is going to opt loan for the first time, two-wheeler loans is a great idea to open the file for the credit score.
Eligibility Criteria for Two Wheeler Loan For Honda Activa 4G
Min. age -21 years
Max. age-65 years
Salaried individual / self-employed
1 year of salaried individual and 6 months for self-employed
MINimum ANNUAL INCOME
Rs.84,000/- ( salaried individual)
Documentation Required for Two Wheeler Loan For Honda Activa 4G
Photo ID proof
Colored passport size photograph
Passport/Voter ID/Driving license/Adhaar card/Pan card
Electricity bills/passport/voter id/driving license/Telephone bills/Pan card
Last six months
Interest Rates for Two Wheeler Loan For Honda Activa 4G
Two Wheeler interest rates generally range from 12% to 18.25% maximum. These interst rates are one of the lowest among the rates compared to other loans provided by banks.