All About Two Wheeler Loan in Delhi
Delhi is known as the capital of India. It is a Union Territory of India. The City is bordered by Haryana and Uttar Pradesh, India. Delhi is the most populated city in India, with around 11 million. Today, the prices of bikes are high. It is very difficult for a common man to buy a bike. 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 for Two Wheeler Loan in Delhi
- On an average, most two-wheeler loans will pay for up to 90% to 98% 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 INR6000/- for self-employed
- Some Banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends. This is often suitable for few customers because it helps to clear off the debts faster if you can.
- 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.
Banks which provide two-wheeler loans
- HDFC Bank
- Axis Bank
- Bank of Baroda
- Canara Bank
- Central Bank of India
- City Union Bank
Eligibility Criteria for Two Wheeler Loan in Delhi
Min. age -21 years
Max. age-65 years
Salaried individual / self-employed
1 year of salaried individual and 6 months for self-employed
Rs.84,000/- ( salaried )
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
Minimum Cibil Score
How to apply for Two Wheeler Loan in Delhi?
- Fill the online application form.
- Visit the lender.
- Submit the required documents online.
- Use EMI calculator and check your Eligibility.
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