Two Wheeler Loan in Allahabad
Allahabad is the largest metropolitan city in Uttar Pradesh, India. The city is the 13th most populated city in India. Today, in a city like Allahabad, It is very difficult for a common man to buy a bike because of its price. Two Wheeler Loan is a scheme which provides bike loans to people for purchasing a bike. It is a deal that helps people to fulfill their dream of buying a bike or a scooter. If you have been dreaming about a bike, but do not have enough funds for buying it, then availing a bank Two Wheeler Loan is the best deal for you. It is a scheme that offers monetary support to people and helps them by purchasing a bike and scooters. The loan can be used to buy a new bike according to one’s requirement. The amount can be repaid through EMIs.
The rate of Interest:11.80% (min).
Features & Benefits of Two Wheeler Loan in Allahabad
- On an average, most two-wheeler loans will pay for up to 90% of margin of finance depending on the individual to individual. Which further results in the customer can make down payment of only 10% of their loan.
- Banks often offer these loans to people who are earning as low as INR 7000 per month for a salaried individual and INR 8000 for self-employed.
- 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. Borrowers are provided with reasonable time to pay back for their two-wheeler loan with tenures that ranges from 12 to 48 months and in some cases it extended to 5 years.
- For a 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. The customer should have their credit score above 700.
Eligibility Criteria for Two Wheeler Loan in Allahabad
- Age: Minimum 21 years old, Maximum 65 years old
- Income: Salaried Rs.7000 (month), Self-employed Rs.8000 (month)
- Employment: 6 months for a self-employed, at least 1 year for salaried
Document Required for Two Wheeler Loan in Allahabad
- Photograph – 3 Photograph
- Identity proof – Voter ID Card / PAN Card / Passport / Driving License / Aadhar Card
- Age Proof – PAN Card / Passport / Driving License / Aadhar Card
- Signature Verification – PAN Card / Driving License / Passport
- Ownership Proof – Electric Bill / Tax Bill / Water Bill /Utility Bill / Power of Attorney
- Income Proof- For Self-Employed- Shop Establishment Certificate / Sales and Purchas Bills/ Financials with all schedules of last 3 Years, For Salaried Applicants – latest salary slip(3 months)
Banks which provide Two wheeler loans
- HDFC Bank
- Axis Bank
- Bank of Baroda
- Canara Bank
- Central Bank of India
- City Union Bank
How to Apply for Two Wheeler Loan in Allahabad
- Apply application: This is quick and stress-free.The extremely easy way of applying for a loan.
- Visit the official website www.dialabank.com
- Submit your documents online.
- You will be able to make use of online EMI calculator.