Two Wheeler Loan
When the customer borrows money from the bank or any other non-banking financial organization to buy a Two wheeler specifically then this is known as a Two wheeler loan. One can’t use this amount of loan anywhere else. This loan comes under the secured loan. The bank or lender can bound Two wheeler for the recovery of the loan amount in case you fail to return the loan. Besides that, it is a secured loan so the rates of interest on a Two wheeler loan are quite low as compare to the unsecured loan (personal loan).
Features of Two Wheeler Loan
Online Application: Enjoy doorstep service and skip the queues when you log a request online.
Competitive Rates: Bank offers a 2% lower rate of interest.
Easy Repayment Schemes: Easily calculate your EMI.
Quick Loans: Check your loan eligibility, get quick approvals.
Full Transparency: Our Two-Wheeler loan is fully transparent.
Flexible Repayment Tenure: Decide your loan tenure to be just 12 months, or 48 months, with our pocket-friendly EMI repayment options.
Fulfill Your Every Need: Get up to 90% finance and repay the money at attractive interest rates.
South Indian Bank
South Indian Bank is a major private sector bank of India. The bank is founded in 1929. This is a banking financial company, basically, it provides financial services and products to the customer at lower rates of interest. Two wheeler loan is like a blessing to the customers who want to buy the Two wheeler and have some shortage of money. Two wheeler is the affordable financial product provided by the South Indian Bank to the customers. To avail, the loan one should meet the eligibility criteria and documentation process.
Eligibility Criteria
|
Age |
Min. age -21 years Max. age-65 years |
|
Employment Status |
Salaried individual / self-employed |
|
Employment Tenure |
1 year of salaried individual and 6 months for self-employed |
|
Minimum Annual Income |
Rs.84,000/- ( salaried individual) Rs.72000/- (self-employed) |
Documentation Required
|
Photo ID proof |
Colored passport size photograph |
|
Identity proof |
Passport/Voter ID/Driving license/Adhaar card/Pan card |
|
Residence proof |
Electricity bills/passport/voter id/driving license/telephone bills/pan card |
|
Bank Statement |
Last six months |
Interest Rates
Two Wheeler interest rates generally range from 11.50% to 18.25%.
How to Apply?
To apply for the two-wheeler loan, visit the link given below
After visiting on the given link above fill the application form online.
Enter your credentials carefully
Your contact number is required so that an executive can call you in no time
All the queries can be handled by customer care
You will get the disbursal on the same day if processing is done smoothly.