Two Wheeler Loan in Ludhiana

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Two Wheeler Loan in Ludhiana

Best Banks for Two Wheeler Loan in Ludhiana

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
8.5 - 9.5 %
11%
Min Loan Amt
Metro : 1 Lac & Non Metro: 75000
75000
75000
Max Loan Amt
1 Cr
1 Cr
1 Cr
Loan Tenure
Upto 7 Years
Upto 5 Years
Upto 5 Years
Processing Fee
1999 - 4999 + Tax
0.25% to 1.50%
0.25% to 1.50%
Preclosure Chgs
2%, Nil after 24 months
2%, Nil after 36 months
Nil
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Two Wheeler Loan Ludhiana Features

Thinking of purchasing a new Two-Wheeler? But don’t have the required funds for it? Do not worry! A Two Wheeler Loan is here for you. A Two-Wheeler loan is a means of funding or financial help provided by banks and NBFCs to the applicants at an affordable rate of interest to aid them in buying a Two Wheeler, whether new or used. Two Wheelers have become a necessity for everyone, but the cost of Two Wheelers is growing rapidly daily. This is where a Two Wheeler loan comes into play and fulfils your desire to be the owner of your dream Two Wheeler. The main features of a Two Wheeler Loan in Ludhiana are:

  • Two Wheeler Loan in LudhianaTwo Wheeler loans are available at low-interest rates
  • Almost all major banks and NBFCs offer Two Wheeler loans in Ludhiana
  • The documentation process is quick and hassle-free
  • Two Wheeler loans are easily available through Dialabank

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Two Wheeler Loan Ludhiana Interest Rate

Bank
Processing Fee
Prepayment Charges
HDFC Bank Car Loan
(1999 - 4999) + Tax
2%, Nil foreclosure charges after 24 months
Axis Bank Car Loan
1 % to 2.50%
Nil
ICICI Bank Car Loan
0.25% to 1.50%
2%, Nil foreclosure charges after 36 months
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
2.25% of foreclosure amount if closed 1 month ahead of the tenure.
IIFL Car Loan
Nil
Nil
Muthoot Car Loan
Nil
Nil
Manappauram Car Loan
Nil
Nil
PNB Car Loan
0.70% to 1%
Nil
Canara Bank Car Loan
1%
Nil
Andhra Bank Car Loan
Nil
Nil

To check the Two Wheeler Loan Interest Rate for all major banks, you can visit Two Wheeler Loan Interest Rate.

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Two Wheeler Loan Ludhiana Documents Required

Click here to know more about Two Wheeler Loan Documents Required

For Salaried:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Income Proof: Latest 3-month salary slip with form 16
  • Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

For Self Employed:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Income Proof: Latest ITR
  • Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
  • Bank Statement: Last 6 months.

Two Wheeler Loan Ludhiana Eligibility Criteria

For Salaried:-

  • Minimum age: 21 years
  • Maximum age at loan maturity: 65 years
  • Minimum employment: 1 year in current employment and a minimum of 2 years of employment
  • Minimum Annual Income: Rs 1,00,000 net annual income

For Self-Employed:-

  • Minimum age: 21 years
  • Maximum age at loan maturity: 65 years
  • Minimum employment: at smallest 3 years in sales
  • Minimum Annual Income: Net profit Rs. 60,000 p.a for regular cars and Rs.1,00,000 p.a. for mid-sized and superior cars.

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Two Wheeler Loan for Top selling bikes in Ludhiana

Processing Fees / Prepayment Charges on Two Wheeler Loan Ludhiana

The processing fee charges on a Two Wheeler Loan in Ludhiana are Up to 3% of the loan amount (maximum). Prepayment Charges are 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.

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Two Wheeler loan Ludhiana Contact Number

In case of any queries regarding the Two Wheeler loan in Ludhiana, you may contact on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Two Wheeler Loan Ludhiana

Rate 5 Yrs 4 Yrs 3 Yrs
10.50% 2149 2560 3250
11.00% 2174 2584 3273
11.50% 2199 2608 3297
12.00% 2224 2633 3321
12.50% 2249 2658 3345
13.00% 2275 2682 3369
13.50% 2300 2707 3393
14.00% 2326 2732 3417
14.50% 2352 2757 3442
15.00% 2378 2783 3466

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Two Wheeler Loan EMI Calculator

FAQs for Two Wheeler Loan in Ludhiana:

✅ Why should I apply for a Two Wheeler Loan in Ludhiana?

Owning a Two Wheeler Loan in Ludhiana can make you feel confident and independent. However, paying for it out of your own pocket can make it a financial burden for you, and the Ludhiana Two Wheeler Loan loan helps you pay for the vehicle through easily affordable monthly payments.

✅ Can a Two Wheeler Loan loan from Ludhiana fund my vehicle purchase completely?

Most banks in Ludhiana offer to fund up to 85% or even 90% of the vehicle cost. However, few lenders in Ludhiana even fund the 100% amount but charge some additional costs and add some conditions.

✅ What costs will a Two Wheeler Loan in Ludhiana cover?

A Two-Wheeler Loan loan from Ludhiana will cover the registration charges, insurance, as well as accessories. You can get even more benefits in Ludhiana if your bank has a tie-up with a particular Two Wheeler Loan company.