How to get two wheeler loan on installment :
Bike Loan, Scooty Loan & Motorsaikal Loan
Everyone has a dream of dreams. Especially I have a brand of new bike. But there is a problem of money. They do not have so much money. So that they could buy the bike. If you want to buy a bike (Two wheeler) then you can get finance from the bank. Instantly, How to take a loan for bike today’s. Today I am providing complete information about giving the necessary documents, interest rates and other complete information for the bike or two wheeler.
First You should make a budget for two wheeler:
The first thing you should always make budget before buying any item. Prepare a balanced budget for bike too.
Motorsaikal manufacturers offer incomplete information to attract customers. So first go to the dealer or call up him to get bike prices and other information over the phone. Then you can decide how much down payment you have to make according to your budget.
After deciding the budget, know about the rate of interest on the loans given to the banks. If an offer is running then take advantage of that offer.
Documents required for bike loan: Two Wheeler Loan
We are telling you the necessary documents, you can prepare documents with the help of it.
- Photo identity proof
Passport size photographs, at least 2 to 6 are recommended to keep your loan application easy.
2. Identity proof
- Electoral voter identity card
- driving license
- Pan Card
- Aadhar Card
3. Address proof
Permanent Address Proof: PAN Card, Driving License
4. Employment certificate
- For salaried employees:
Employment or proposal letter
- For Self-employed:
Latest Form 16
Proof of income source
Interest rates on motorcycles : Two wheeler Loan
All banks offer two wheeler loans on motorcycles at different interest rates. Normally rates vary between 11% to 18.25%. For information on new interest rates, contact the bank.
At present, the interest rate of these banks is as follows.
Dena bank 11.35%
Bank of India 9.35%
Allahabad Bank 11.80%
How much loan amount will be given for two wheeler:
If you are taking a loan for the motorsaikal, then the bank lends itself up to 80 to 85 percent of the bike’s exhaust price. If you are buying a bike of 1 lakh, then it gives 70 to 80 thousand rupees as a loan. Bank Bike Loans are not paid for less than 20 thousand rupees All of these banks have different rules.
If you are taking a loan on a bike, it should be paid between 12 months and 60 months. It depends on the rules of banks. The minimum age of applicant to take the loan on the bike must be 21 years. Two Wheeler Loan
How is a loan taken on a motorcycle? What is the amount of money on the motorcycle? Have given all this information. Still, If you feel any mistake, any question or there is an update about this post, please let us know by leaving a comment in the comment box below. Two Wheeler Loan