All About Two Wheeler loan Jalandhar
Jalandhar, an ancient city and has a population of 873,725 (2011 Census). The city is known for manufacturing and exporting the world widely used sports equipment. The city is also a hub of tool manufacturing industries.
The businesses and its aids give the employment to the thousands of the resistance. To travel or do the related work the people give preference to the Two Wheelers.
What is a Two Wheeler Loan?
The money given by the banks as an aid to the people for purchasing Two Wheeler is called as a two wheeler loan.
The wages charged by the banks on the lent money is called as the “interest”.
The loan has to be paid back in numbers of equal payments which are called as Equated Monthly Installments (EMIs).
How Two Wheeler Loan is Useful for Me?
The loan amount excludes only the price of down payment, which is not a high amount to pay.
Without paying the full amount of the vehicle, I can stay financially stable for many more days.
Moreover, I will be excited to use the brand new bike.
Features & Benefits
- Margins: Banks do not let you pay more than the down payment of the bike, That means you don’t have to pay more than 70% of the total cost of the bike. Sometimes the number can exceed up to 100%.
- Annual Income/ Salary: The salaries of an employed and a self-employed should be greater than Rs. 7000/- and Rs. 6000/- for being eligible for the approval of the loan.
- Extra costs covered: The banks pay all the extra charges which include insurance charges, accessories costs and also the registration charges.
- Tenure: Banks give us ample amount of time which we can choose accordingly, from 12 to 48 months. And it can be extended up to 5 years for some of the cases.
- Credit score: The best opportunity to open the credit score, for the people who are willing to buy the Two Wheelers and those who are willing to opt for loans for the very first time.
- Interest Rates: 11.5% is the least interest rate at which a bank will grant the loan.
Check Your Eligibility for Two Wheeler loan Jalandhar
The loan approval by banks depends upon following criteria. The applicants must fulfill these criteria.
750 or above
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
The documents which are needed by the banks to verify the customer’s credibility are listed below.
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
Adhaar 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 Jalandhar?
- 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?
Call Us on 600 11 600 OR 98789-81166
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