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Bank of India Two Wheeler Loan

Two Wheeler Loan

The two wheeler loan is a kind of secured loan where a customer can borrow the money from the bank at good rate of interest for a given period of time to buy a Two wheeler. In this loan,  customer has to pledge the Two wheeler that you are buying to the bank.  If the customer does not repay the loan, the bank will bound your Two wheeler. Since this loan is a secured loan so rates of interest are quite low as compared to other loan or you may say less than the unsecured loans.

 

Features of Two Wheeler Loan

Customer can easily buy a Two wheeler at low rates of interest.

The documentation process in a Two wheeler loan is very less as compared to other loans.

There is no need to show the credit history.

Customer will get a Two wheeler loan even if your CIBIL score is not good.

Besides that, the loan will get approved very quickly.

The salary requirement for a Two wheeler loan is not very high.

Furthermore, the customer can apply for a Two wheeler loan after the age of 21 years.

The Two wheeler loan is available in every city in India.

 

Bank of India

Bank of India is a state-owned commercial bank. Bank of India has its headquarters in Mumbai in India. Bank was founded by a group of the renowned businessman from Mumbai on September 7, 1906.  Bank is positioned as 4th largest PSU bank after SBI, PNB, and Bank of Baroda. Bank of India has 4322 branches spread all over the country with 54 branches overseas. Two wheeler loan is the financial product provided to the customers by banks at affordable prices. Bank of India is providing the loans to the customers at reasonable interest rates and fulfilling the dreams of millions. To take the loans one has to meet the requirements including 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

Min Annual Income

Rs.84,000/- ( salaried individual)

Rs.72,000/- (self-employed)

 

Documentation Required

Photo ID proof

2 to 6 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

Residence Proof

Electricity bills/rental agreement/property/driving license/ration card

 

Rate of Interest

The interest rates provided by the banks are very reasonable and it ranges from 12.50 %.

 

How to apply for two wheeler loan?

To apply for the two wheeler loan click on the given link below:

www.magicloans.in

  • After visiting on the given link above fill the application form online.
  • Enter credentials diligently.
  • Your contact number is required so that an executive can call you in no time.
  • All the queries can be handled by customer care executive online as well as on telecommunication.
  • You will get the disbursal on the same day if processing is done smoothly.