Two Wheeler Loan Muktsar

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Two Wheeler Loan Muktsar

Best Banks for Two Wheeler Loan in Muktsar

Feature
HDFC Bank
ICICI Bank
Kotak Mahindra Bank
Interest Rate
8% - 8.4 %
8.5 - 9.5 %
11%
Min Loan Amt
Metro : 1 Lac & Non Metro: 75000
75000
75000
Max Loan Amt
1 Cr
1 Cr
1 Cr
Loan Tenure
Upto 7 Years
Upto 5 Years
Upto 5 Years
Processing Fee
1999 - 4999 + Tax
0.25% to 1.50%
0.25% to 1.50%
Preclosure Chgs
2%, Nil after 24 months
2%, Nil after 36 months
Nil
Loan to Value (LTV)
Upto 100% on Ex- showroom
Upto 95% on Ex- showroom
Upto 90% on Ex- showroom

Features of Two Wheeler Loan MuktsarTwo Wheeler Loan Muktsar

  1. Margin provided by banks: On average, most two-wheeler loans will pay for up to 90% to 98% margin of finance depending on the individual to individual. Which further results in the customer can make a down payment of only 10% of their loan.
  2. Annual pay/income/salary: Banks often offer these loans to people who are earning as low as INR 7000 per month for a salaried individual and INR 6,000/- for self-employed
  3. No prepayment charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends.
  4. 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.
  5. Loan Tenure: 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 it extended to 5 years.
  6. Credit score/Cibil: 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. The customer should have a credit score above 700.

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Two Wheeler Loan Muktsar Interest Rates

Bank
Processing Fee
Prepayment Charges
HDFC Bank Car Loan
(1999 - 4999) + Tax
2%, Nil foreclosure charges after 24 months
Axis Bank Car Loan
1 % to 2.50%
Nil
ICICI Bank Car Loan
0.25% to 1.50%
2%, Nil foreclosure charges after 36 months
SBI Car Loan
500/- to 0.50%
Nil
Kotak Car Loan
1% to 2%
2.25% of foreclosure amount if closed 1 month ahead of the tenure.
IIFL Car Loan
Nil
Nil
Muthoot Car Loan
Nil
Nil
Manappauram Car Loan
Nil
Nil
PNB Car Loan
0.70% to 1%
Nil
Canara Bank Car Loan
1%
Nil
Andhra Bank Car Loan
Nil
Nil

To check Two Wheeler Loan Interest Rate for all major banks you can visit: Two Wheeler Loan Interest Rate

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Two Wheeler Loan Muktsar Documents Required

For Salaried:-

  • Address Proof: Driving license / Voters card / Passport Copy / Aadhaar Card
  • Identity Proof: Aadhaar Card, Voters ID card, Passport, Driving License
  • Compulsory Documents: PAN Card
  • Bank Statement: Last 3 months.

For Self Employed:-

  • Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
  • Bank Statement: Last 3 months.
  • Address Proof: Voters card / Passport Copy / Driving license / Aadhaar Card
  • Required Documents: PAN Card

Click here to know more about Two Wheeler Loan Documents Required

Two Wheeler Loan Muktsar Eligibility Criteria

Your ability to repay the loan is the biggest factor in deciding whether you’ll be eligible or not for the two-wheeler loan. The following are the major criteria’s:

The borrower should be at least age 21 and maximum age 65 to qualify for the loan. 
 
You are eligible for the two Wheeler loans if you have an average monthly income of Rs 7000 (salaried) and Rs 6000 (self-employed)
 

Click here to know more about Two Wheeler Loan Eligibility 

 

Two Wheeler Loan for Top Selling Bikes in Muktsar

Processing Fees / Prepayment Charges on Two Wheeler Loan in Muktsar

Processing Fees– Up to 3% of the loan amount (maximum)

Pre-payment charges- Within 4 to 6 months – 10% of principal outstanding                                      
Within 7 to 12 months – 6% of the outstanding principal                                       
13-24 months – 5% of principal outstanding                                      
Post 24 months – 3% of the key outstanding                                      
Prepayment within three months of EMI repayment is not permitted.

Car Loan Muktsar Contact Number

In case of any queries regarding the two-wheeler loan in Muktsar, you may contact on the number 9878981166 for any sort of assistance.

Visit Dialabank to know more.

Pre Calculated EMI Table for Two Wheeler Loan Muktsar

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

About Muktsar

Sri Muktsar Sahib is the district in Punjab, India. According to the 2011 census, the total population reached up to 117,085. It is the 14th largest city in Punjab in terms of population. The name of the city Sri Muktsar Sahib has been replaced to Muktsar officially by the government.

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Two Wheeler Loan EMI Calculator Muktsar