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Vijaya Bank Two Wheeler Loan

Two Wheeler Loan

Nowadays, the prices of bikes are high. Two Wheeler loan is very difficult for a common man to buy a bike. Two Wheeler Loan is a scheme which provides bike loans to people for purchasing a bike. It is a deal that helps people to fulfill their dream of buying a bike or a scooter. If one has been dreaming about a bike, but do not have enough funds for buying it, then availing a Two Wheeler Loan is the best deal for you. This scheme offers monetary support to people and helps them by purchasing a bike and scooters. The loan can be used to buy a new bike according to one’s requirement. The loan amount can be repaid through EMIs.

 

Features of Two Wheeler Loan

Most two-wheeler loans will pay for up to 90% margin of finance.

The customer can make down payment of only 10% of their loan.

Banks often offer the loans to those people who are earning as low as INR 70000 per year.

Most banks do not charge any kind of charges as prepayment if you are able to pay your loan amount before tenure ends. This is often suitable for few individuals because it helps to clear off one debt fast.

These loans cover the cost of accessories, insurance, and even registration. This means that customer getting finance for not only on the two-wheeler but the essential expenses on the same.

Borrowers are provided with reasonable time to pay back for their two-wheeler loan with tenures that ranges from 1 to 5 years.

Fora first-time buyer of a vehicle or who is opting loan for the first time, Two-wheeler loan is a great idea to open your file for the credit score.

 

Vijaya Bank

Vijaya Bank is a medium-sized PSU (Public Sector Bank) with the presence across India. This bank is one of the nationalized banks in India. Vijaya Bank was established by Shri. Attavara Balakrishna Shetty at Bunts Hostel in Mangalore on October , 1931. Vijaya bank has built a network of 1406 branches, 864 centers, 48 Extension Counters, and 942 ATMs spread. Two Wheeler Loan is the best option for anyone who is interested in buying a new vehicle. Vijaya bank gives the opportunity to their customers for avail two wheelers who have the desire of purchasing a new vehicle. To meet the requirements, the customer has to fulfill the eligibility 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 starts at 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.