All About Two Wheeler loan Modinagar
Modinagar, the city of Modi mills and a hub of educational institutions, has a population of 1,83,075 (2011 census). In the city, most of the people are engaged in business, education and serving in the Modi mills.
The cheapest and the most efficient mode of transport in this city is a Two Wheeler.
What is a Two Wheeler Loan?
The financial help given by a bank or a non-financial company to buy a Two Wheeler is a two wheeler loan.
The fees which a bank takes are an interest. The rate of interest is defined by the banks only.
The banks allow us to choose the economical Equated Monthly Installments (EMIs), which we pay every month.
How Two Wheeler Loan is Useful for Me?
As I only have to pay the down payment, the Two Wheeler loan saves me from spending too much at once.
The Two Wheeler loans let me be financially strong at the times when I need.
And the most of all a new bike is mine now.
Features & Benefits
- Margins: At least 70% of the total expense is covered by the loans. It can also exceed up to 100%
- Annual Income/ Salary: Low income like Rs 6000/- and 7000/- for employed and self-employed respectively are also eligible for the Two Wheeler Loans.
- Extra costs covered: The insurance charges cost of accessories and registration are covered by the loans.
- Tenure: the time length given by the banks to pay back the amount is from 12 to 48 months. Sometimes, the time length can be extended up to 5 years.
- Credit score: There is no other way, for the first time loan applicants and the first time Two Wheeler buyers, from which you can make their credit score better.
- Interest Rates: The interest rate is a rate at which banks charge their customers. The minimum Two Wheeler loan interest rate is 11.5%
Check Your Eligibility for Two Wheeler loan Modinagar
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 Modinagar?
- 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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