All About Two Wheeler loan Mohali
Mohali, the official city of Sahibzada Ajit Singh, has a population of 176, 170. The city is an IT hub of Punjab, including the majority of IT outsourcing companies.
The place Mohali is also a hub for multi-national companies such as Godrej, Vodafone, Philips etc. These companies are popular among the youth in Punjab and its neighboring states.
And to commute to the nearby areas the people have opted and are opting to buy Two wheelers.
What is a Two Wheeler Loan?
Are you resisting yourself from buying a two-wheeler just because you have to spend a lot of money at once? With the help of banks and other Non-financial companies, you can buy Two wheelers.
The loans are the borrowed money from the banks or the non-financial banks. Loans allow you to pay only down payments, which is very less for an average two-wheeler.
Moreover, you can pay back the loans with the affordable Equated Monthly Installments (EMIs).
How is Two Wheeler loan Mohali Useful for Me?
The loan helps me to stay financially strong as well as to own a precious vehicle, simultaneously. The loan will provide me time to collect money and pay it back in small amounts every month.
Features & Benefits of Two Wheeler loan Mohali:
- Margins: More than 70% of the value of the Two wheelers are paid by the banks. In some cases, the banks pay the loans up to the 100% of the value.
- Annual Income/ Salary: If you are employed or a self-employed with a minimum income of more than Rs 7000/- or Rs. 6000/- respectively, then you are eligible for applying for a loan.
- Nil Payment Charges: Do you like to work fast? If yes then, then you don’t have to pay any extra money to the bank, just pay back your loan amount before the tenure.
- Extra costs covered: Are you worried about the extra costs? Don’t worry, the banks cover the cost of insurances, accessories and also the registration.
- Tenure: The time period awarded to you for the payment of the loan can exceed from 12 months to 48 months. In some cases, it can be exceeded up to 5 years.
- Credit score: Are you applying for the loans for the first time or are you buying the Two wheeler for the first time? Two Wheeler loan is the best way to get the credit score.
An Interest rate of 11.5% is the least among banks loans. These rates vary from place to place.
Check Your Eligibility for Two Wheeler loan Mohali
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
Required Documents for Two Wheeler loan Mohali
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 Mohali?
- 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?
|REMINDER SERVICE||EMI CALCULATOR|
Call Us on 600 11 600 OR 98789-81166