There are a lot of prestigious banks and renowned financial institutions are there that offer loans to people for various reasons. Of these, cars and Two Wheeler Bike Loans are extremely mainstream as they help you to appreciate an agreeable way of life and also offering you a superior method of transport. Let us discuss Two Wheeler Bike Loan or bike loan, rate of interests, the process to apply, eligibility criteria, and significantly more. So no more waste of time, let’s get started each parameter right now.
One such sort of loan which is being offered by loan agents to the individuals who need to get a bike (motorcycle, bike, scooter, Activa) yet need more money to afford the cost of the equivalent. With regards to bike loans, they are unquestionably progressively moderate to an enormous fragment of the population, thus are well known. In India, there are a few financial institutions and banks that offer bike finance alternatives at appealing ROIs and flexible loan periods to all qualified candidates, having a great credit score.
Must Read – Top Car Loans to Avail in India – 2020
Eligibility Criteria – Two Wheeler Bike Loan:
Presently, eligibility is something that plays a vital job in your general loan scheme. In spite of the fact that various banks and foundations have distinctive eligibility criteria that you should know while applying for a 2 wheeler advance.
- A candidate ought to be at least 21 years of age (at the application time) and less than or equivalent to 65 years (at the maturity time of the loan)
- Both Salaried, just as independently employed people, are eligible
- He/She ought to live in the city for at least 1 year
- The borrower needs to be working for at least 12 months
- The candidate should provide landline number either at the home or at office
- The individual ought to have a standard income source with a great credit score
Steps to Apply Online for Two Wheeler/Bike Loan:
Without much hassle, you can apply online for a Two Wheeler/Bike Loan by basically following a simple procedure. All you have to do is simply visit your preferred loan lender on the web, go to the particular page of Two Wheeler/Bike Loan, enter all your details just as personal and professional as well as enter Apply Online. The minute you do as such, you will be directed towards a page, saying your application has been submitted effectively, and you will within shortly get the status of your application. It is a fast, simple and economic way to apply online for a bike loan similarly as with only a with one mouse click, you can do all the necessary customs within a few seconds.
Bike Loan EMI Calculator:
Along these lines, since you have chosen to benefit a Two Wheeler/Bike Loan, it is likewise significant for you to know the EMIs of the equivalent. What is the specific measure of regularly scheduled payment you have to pay to a loan specialist every month, and significantly more can without much of a hassle be known by you with the assistance of this brilliant tool called an EMI Calculator?
Top Banks Interest Rates:
|Bank Name||Interest Rates|
|PNB||11.6% – 13.1%|
|ICICI||11% – 26.27%|
|Bank of India||9.88%|
|Bajaj Finance||27% – 30%|