Two Wheeler Loan
Two wheeler loan is the most convenient in its disbursal and throughout its process as well. Due to the rise in the automobile industry, two wheelers are becoming the basic need of every individual than just a desire. Apparently, two wheelers are used in day to day life. Two wheeler comes in different segments of the market. Youth are more influenced towards two wheelers due to their features, affordability, and price. Due to this, banks have come up with the two wheeler loans for their customers at affordable prices with basic interest rates. Two wheeler loan has its own unique features and benefits which are discussed further in details.
Features of Two Wheeler Loans:
Funding: Many banks have made the funding of up to 90% to 95% depending on an individuals case.
Credit Score: To avail the two wheeler loan, the customer should have a civil score of at least 700 and above.
No prepayment charges: Banks do not charge any prepayment charges if you are able to pay up your loan amount before the termination of tenure.
Hassle Free process: Paper free and easy online application process
Repayment:Flexible repayment options
Easy documentation: Easy & Simple documentation
Bank of Baroda
Bank of Baroda is the state owned bank. Its headquarter is situated at Vadodara in Gujarat. It was founded on 20 July 1998. It is state-owned international banking and financial services. It has its corporate office in Mumbai. Bank of Baroda provides its customers with various benefits by providing their best financial services to them. Loans including two wheelers loan are the best loan provide by the bank of Baroda for their customers. To meet the need of every individual who has a desire of two wheeler, the bank provides them two wheeler loans which are the best way for any individual to purchase a new vehicle without shelling all the money at once. To meet the needs of the loan, there is an eligibility criterion and documentation required which has given below.
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 to 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.