All About Two Wheeler Loan Sonipat
Two wheeler loans are one of the best loans for customers. This loan was provided in the segment of the low-interest rate which makes it possible in the reach of every citizen of a country like India, it is basically a big home for middle-class families and they mostly run on two-wheelers for their various purposes like at work, enjoyment, enjoyment purposes etc.
Features of Two Wheeler Loan Sonipat
Following are the numerous benefits of a two wheeler loan
- Margins: Most banks will pay for up to 90% to 98% margin of finance depending on the person requirement. Thus, results in the down payment of only 10% of their loan.
- Annual income/salary: Banks mainly offer these loans to people who are earning as low as INR 7000 per month for a salaried individual and INR6000 per month for self-employed.
- Nil prepayment charges: Banks do not charge any prepayment charges if the customer is able to pay up your loaned amount before your tenure ends. This is often suitable for few customers because it helps to clear off the debts fast.
- Extra costs/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.
- Tenure/Time Period: Borrowers are provided with reasonable time to pay back for their two wheeler loan within tenure that ranges from 12 to 48 months and in some cases it extended up to 5 years.
- Credit score: To the 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 their credit score of 700 or above.
Eligibility Criteria for Two Wheeler Loan Sonipat
Min. age -21 years
Max. age-65 years
Salaried individual / self-employed
1 year of salaried individual and 6 months for self-employed
Min Annual Income
Rs.84,000/- ( salaried individual)
Documentation Required for Two Wheeler Loan Sonipat
Photo ID proof
2 to 6 Colored passport size photograph
Passport/Voter ID/Driving license/Adhaar card/Pan card
Electricity bills/passport/voter id/driving license/Telephone bills/Pan card
Last six months
Electricity bills/rental agreement/property/driving license/ration card
Interest Rates for Two Wheeler Loan Sonipat
Two Wheeler interest rates generally vary from bank to bank and it depends upon individual case 12.50% to 18.25% maximum. These interest rates are one of the lowest among all the rates in comparison to other loans provided by banks.
Sonipat is the district which lies in the northern region in India. It is basically situated in Haryana. Sonipat has a great number of institutes. It also comes under the national capital region. It was earlier known as Sonprashtha. Historically, Sonipat was founded by the Pandavas In the present scenario, it is the emerging city in the economy in Haryana. The banking sector is the rising sector as well in this city and providing great financial services to their customers. A large number of banks have participated in this region.
Banks which provide two wheeler loans
- HDFC Bank
- Axis Bank
- Bank of Baroda
- Canara Bank
- Central Bank of India
- City Union Bank
How to Apply?
Apply for the two wheeler loan by click on the given link below
- Dialabank provides the document pickup facility from your doorstep without any extra charges.
- Dialabank is one of the most reliable platforms to apply for a two wheeler loan.
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