Two Wheeler Loan

The two wheeler loan is offered by many banks and non-banking finance companies. The two wheelers like bikes, scooters, scooty and many other models are becoming the bare essential for any household. In today’s increasing traffic scenario, two-wheeler has become the best way to commute. The two-wheelers are gaining more and more popularity with new stunning models coming up. The two-wheelers are as comfortable as car in covering long distances. The uneven terrains can be best travelled with the help of two-wheeler. The increasing popularity has given rise to the two wheeler loans too. The two wheeler loan is offered for 3 to 5 years. The 10% of the total vehicle cost needs to be paid as the margin money. This type of loan is offered to the self employed, salaried, farmers and businessmen. The loan value is usually decided upon the cost of the vehicle and the income of the applicant.

The two wheeler loan is offered from Rs.5,000 to Rs.1 lakh. The loan value is offered up to the 90% of the vehicle cost and could range maximum up to five times the monthly salary. The lesser value is considered for the loan amount. The minimum and maximum Two Wheeler Loan amount may differ from bank to bank. The bank will also ask for an insurance of the vehicle. The vehicle needs to be hypothecated to the bank until the full payment of the loan is done. The bank will ask for few documents and an easy procedure will get you the loan amount immediately. The third party guarantee or some type of security may be asked if the loan amount is more than Rs.50,000. The terms may vary from bank to bank. The rate of interest will also differ as per the loan term and the lender. The interest rates can be checked online. The online quotes are also available for comparison.

You may get the online quotes after entering few of your details and requirements. We will also get you the online quotes from various banks and our experts will help you get the valid comparison. We have an e-application system that can help you submit your two wheeler Loan application online. We will make sure that your application reaches to the desired bank on time. If the online application won’t be accepted by the bank then we will also submit your application personally. We have specially negotiated the lowest interest rates for you and you may get the best while dealing with us.