{"id":1421,"date":"2020-07-31T09:54:28","date_gmt":"2020-07-31T09:54:28","guid":{"rendered":"http:\/\/magicloans.in\/?p=1421"},"modified":"2020-07-31T09:54:28","modified_gmt":"2020-07-31T09:54:28","slug":"bank-of-india-two-wheeler-loan","status":"publish","type":"post","link":"https:\/\/magicloans.in\/bank-of-india-two-wheeler-loan\/","title":{"rendered":"Bank of India Two Wheeler Loan"},"content":{"rendered":"\n

Two Wheeler Loan<\/strong><\/p>\n

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,\u00a0 customer\u00a0has to pledge the Two wheeler that you are buying to the bank.\u00a0 If\u00a0the customer does\u00a0not 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.<\/p>\n

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Features of Two Wheeler Loan<\/strong><\/p>\n

Customer\u00a0can easily buy a Two wheeler at low rates of interest.<\/p>\n

The documentation process in a Two wheeler loan is very less as compared to other loans.<\/p>\n

There is no need to show the credit history.<\/p>\n

Customer will get a Two wheeler loan even if your CIBIL score is not good.<\/p>\n

Besides that, the loan will get approved very quickly.<\/p>\n

The salary requirement for a Two wheeler loan is not very high.<\/p>\n

Furthermore, the customer can apply for a Two wheeler loan after the age of 21 years.<\/p>\n

The Two wheeler loan is available in every city in India.<\/p>\n

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Bank of India<\/strong><\/p>\n

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Bank of India is a state-owned commercial bank.\u00a0Bank 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.\u00a0 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\u00a0loan 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\u00a0millions. To take the loans one has to meet the requirements including eligibility criteria and documentation process.<\/div>\n
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Eligibility Criteria<\/strong><\/p>\n\n\n\n\n\n\n
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Age<\/strong><\/p>\n<\/td>\n

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Min. age -21 years<\/p>\n

Max. age-65 years<\/p>\n<\/td>\n<\/tr>\n

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Employment Status<\/strong><\/p>\n<\/td>\n

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Salaried individual \/ self-employed<\/p>\n<\/td>\n<\/tr>\n

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Employment Tenure<\/strong><\/p>\n<\/td>\n

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1 year of salaried individual and 6 months for self-employed<\/p>\n<\/td>\n<\/tr>\n

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Min Annual Income<\/strong><\/p>\n<\/td>\n

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Rs.84,000\/- ( salaried individual)<\/p>\n

Rs.72,000\/- (self-employed)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Documentation Required<\/strong><\/p>\n\n\n\n\n\n\n\n
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Photo ID proof<\/strong><\/p>\n<\/td>\n

2 to 6 Colored passport size photograph<\/td>\n<\/tr>\n
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Identity proof<\/strong><\/p>\n<\/td>\n

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Passport\/Voter ID\/Driving license\/Adhaar card\/Pan card<\/p>\n<\/td>\n<\/tr>\n

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Residence proof<\/strong><\/p>\n<\/td>\n

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Electricity bills\/passport\/voter id\/driving license\/Telephone bills\/Pan card<\/p>\n<\/td>\n<\/tr>\n

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Bank Statement<\/strong><\/p>\n<\/td>\n

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Last six months<\/p>\n<\/td>\n<\/tr>\n

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Residence Proof<\/strong><\/p>\n<\/td>\n

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Electricity bills\/rental agreement\/property\/driving license\/ration card<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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Rate of Interest<\/strong><\/p>\n

The interest rates provided by the banks are very reasonable and it ranges from 12.50 %.<\/p>\n

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How to apply for two wheeler loan?<\/strong><\/p>\n

To apply for the two wheeler loan click on the given link below:<\/p>\n

www.magicloans.in<\/a><\/p>\n