All about Two Wheeler Loan in Nuh
Two wheeler loans are one of the affordable financial product provided by the banks. Two wheelers loan is of the low-interest rate among all the loans which make it possible in the reach of every common citizen of a country like India. India is basically a big home for middle-class families and they mostly run on two wheelers for their various purposes like at work, enjoyment. The banks have 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 bank. In the following paragraph, the customer can find the features, eligibility and documentation criteria in order to meet the requirements of two wheeler loan.
Features of Two Wheeler Loan in Nuh
Following are the numerous benefits of a two wheeler loan
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 mostly offer two wheeler loans to those people who are earning as low as INR 7000 per month for a salaried individual and INR 6000 for self-employed.
Nil prepayment charges
Many 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.
Extra 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/Time period for Two Wheeler Loan in Nuh
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.
Credit score/cibil score
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 Nuh
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 in Nuh
Photo ID proof
2 to 6 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
Electricity bills/ration card/license
Interest Rates for Two Wheeler Loan in Nuh
Two Wheeler interest rates generally vary from bank to bank and it depends upon individual case 12.50% to 18.25% maximum. These rates are one of the lowest among all rates in comparison to other loans provided by banks. Banks have several rates to for their customers according to their norms.
Nuh is the district lies in the state of Haryana. According to 2001 census, Nuh has an estimated population of 11,038. Males constitute about 53% of the population and females consists of 47%. Climatic conditions in this city are extreme. Lowest Temperature is recorded as 0-1 degrees and highest temperature: 44 to 45 degrees. It is 70 km from New Delhi. It is located in the far southern part of Haryana. Banks in this region by playing a crucial role by providing facilities to their customers. There are a lot of products which are beneficial for the customers. Two wheeler loan is the most flexible product for the customers, which makes them affordable for every type of customers.
Following are the 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?
Apply for the two wheeler loan by click on the link below:
- Dialabank provides the document pickup facility from your doorstep without any extra charges.
- Dialabank is one of the most reliable platforms to apply for a two wheeler loan.