Two Wheeler Loan in Vadodara

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Two Wheeler Loan in Vadodara

Best Banks for Two Wheeler Loan in Vadodara

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 in Vadodara FeaturesTwo Wheeler Loan in Vadodara

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 Vadodara are:

  • Two-wheeler loan are available at low-interest rates
  • Almost all major banks and NBFCs offer two-wheeler loans in Vadodara
  • The documentation process is quick and hassle-free
  • Two-wheeler loans are easily available through DialaBank

Two-wheeler Loan in Vadodara 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

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Know More – Two-wheeler Loan interest rate

Two-wheeler Loan Vadodara Documents Required

Documents required for a two-wheeler loan are as followed:

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 Vadodara Eligibility Criteria

The two-wheeler loan eligibility requirements are as followed:

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

Two-wheeler loan for Top selling bikes in Vadodara

Processing Fees / Prepayment Charges on Two-wheeler Loan Vadodara

The processing fee charges on a two-wheeler loan in Vadodara 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 Vadodara Contact Number

In case of any queries regarding the two-wheeler loan in Vadodara, you may contact on the number 9878981166 for any sort of assistance.

Pre Calculated EMI Table for Two-wheeler Loan Vadodara

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 Vadodara

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

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

✅ Can a Two Wheeler Loan in Vadodara fund my vehicle purchase completely?

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

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

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