All About Two Wheeler Loan in Vijayawada
Vijayawada is a city in the Andhra Pradesh, on the bank of River Krishna in India. Vijayawada is knowns ‘the place of victory’. The most important about Vijayawada is its location. Vijayawada is the third most populated city in India. In a country like India, is a big home of middle-class families and mostly runs on two-wheelers for their various purposes. Under this consideration, the banks have come up with the idea of providing two-wheeler loans to every individual. The bank providing you a two-wheeler loan so if you’re wondering for a bike or a scooter, there is a loan for you. Two Wheeler Loans will solve your financial quickly and effectively. Two-wheeler loan is secured loan. Two-wheeler loans are easy to repay, through EMIs. It helps you to buy a new bike or scooter according to your requirements. What are you waiting for? This Loan is a perfect solution to fulfill your requirements.
Features & Requirements
- Marginal value: On an average, most two-wheeler loans will pay for up to 90% margin of finance. Which means that customer can make down payment of only 10% of their loan.
- Annual pay/income/salary: Banks often offer these loans to people who are earning as low as INR 7000 per month.
- Zero prepayment charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends.
- Extra charges 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 of Loan: 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 up to 5 years.
- Credit 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 and the bank will finance to the customer with very low interest rates.
Eligibility Criteria for Two Wheeler Loan in Vijayawada
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 )
Documentation Required for Two Wheeler Loan in Vijayawada
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
Rate of Interest
Loan interest rates generally vary from bank to bank but two-wheeler has lowest rates among all loans which somewhere stars from 11.50% to 18.25%. These rates are one of the lowest among all rates in comparison to other loans provided by banks.
How to Apply?
- To apply for the two-wheeler loan
- 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.