All About Two Wheeler Loan Jagraon
Jagraon, a religious center for Hindus, Muslims, Sikhs, and Jains, is a small sub-district with the population of 65,240. Farming and its sub-occupation have made the Jagraon third largest grain collection market in Asia.
The second largest animal market in Punjab and many industries such as Pharmaceutical, Soap Company, and Edible Oil Refinery has also seen the potential in the city.
Two Wheeler is like a blessing to many people who are involved in these businesses or are employed by these businesses in the city because of its mileage and durability.
What is a Two Wheeler Loan?
The inevitable features for the industries have also been observed by the banks. The Two Wheeler loans in the city are provided by different banks and non-financial companies to help people.
The loan, allow people to invest less at one moment and pay it in small differentiated amounts that are Equated Monthly Installments (EMI).
These loans help people in owning the vehicle and at the same time being financially stable.
Why Two Wheeler Loan Jagraon is best for me?
Two Wheelers provide you better resale value in comparison to cars. Once you have done with EMI’s, you can think of a new vehicle.
Two Wheeler loan provide the affordable amount for those who cannot shell the lump sum amount at one go.
Two Wheeler needs less maintenance than any other automobile.
Two Wheeler finance allow the borrowers to pay easy EMI’s against any other loan.
Features & Benefits of Two Wheeler Loan Jagraon:
Margins: The banks provide almost 100% of the finances in some of the cases (Varying individual to individual and person to person). The customers have to pay up to 30% as the down payment during the purchase of the vehicle.
Annual Income/ Salary: is your monthly income very less? Don’t worry banks will cover your finances, if the monthly income of an employee is 7000/- minimum and for self-employed 6000/- minimum per month.
Nil Payment charges: Banks also have a policy that if you return back their money before the time they will not charge any payment fees. This clears your debt faster which makes this option a popular one.
Extra costs covered: Worried about extra charges? Banks pay all the expenses other than that of Two Wheelers cost such as insurance, accessories and also the registration.
Tenure: The appropriate time period is allotted to the customers to pay back the loan. This extends from 12 to 48 months and in some cases up to 5 years.
Credit Score: This is the best way to open the files at the credit scores for the first time buyers of the Two Wheelers in Barnala and also to the people who are opting for the loan for the first time.
The minimum rate of interest on loans provided by the banks is 6.75% to 12.50%. The loan interest variation depends upon many factors such as place to place and person to person.
Check Your Eligibility for Two Wheeler Loan Jagraon
The applicant must fulfill the following criteria for getting an approval from the banks
Minimum Annual Income
Employed – 84000/- Per annum
Self-Employed – 72000/- Per annum
Minimum Employment Tenure
Employed – Current Employment for 1 year and 2 years of total employment.
Self-Employment – Minimum 1 year in Business
Required Documents for Two Wheeler Loan Jagraon
Any KYC proof.
2 to 6 Passport Size photographs.
Proof of Income
For Employed – Latest Salary Slip with Form 16.
For Self Employed – Latest ITR
Aadhaar Card/ Driving License/ Voters Card/ Electricity Bill/ PAN Card
Last 6 months Bank Statement
Banks which Provide Loans
- HDFC Bank Two Wheeler Loan
- Bank of Baroda Two Wheeler Loan
- AXIS Bank Two Wheeler Loan
- Canara Bank Two Wheeler Loan
- Central Bank of India Two Wheeler Loan
- City Union Bank Two Wheeler Loan
How to Apply for Two Wheeler Loan Jagraon?
- Apply online on www.dialabank.com
- Check the eligibility
- Call the helpline number 600-11-600
- Visit the bank
- Submit all the documents
- Get the loan
Also Read about: How to get a Two Wheeler Loan?
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