Two Wheeler Loans on Competitive Interest Rates

The type of the two wheeler, its utility, resale value, maintenance costs and the purchase price play a prominent role in the decision. Most of the times, the purchase is simply delayed for the want of adequate capital. Or the choice of the two wheeler is compromised so as to fit the same in your budget. You no longer need to do that anymore, with a wide range of Banks and Financial Institutions offering loans that will suit your requirements.

Like any other loan, the two wheeler loan also has an option of secured and unsecured. If you are willing to pledge a property, your bike loan will be secured and carry a lower rate of interest. Similarly, if you are going for an unsecured bike loan, the rate of interest will be slightly higher. A good credit score always helps, as it will prove high credit worthiness and regular repayment of the installments. For a two wheeler loan, you need to be above the age of 18 and should own a driving license. Further, salaried individuals should be in service for more than a year and business owners should be running a business for a period of atleast a year. The documentation is quite simple and hassle free. The entire process of application and approval is transparent and quick. Financial Institutions aim to provide an approval within 48 to 72 hours. The documentation required for the application includes identity proof, address proof, proof of income, KYC documents and a couple of photographs.

Two wheeler finance interest rates are competitive and regularly updated with the industry norms. It is advisable to scout the market for the right two wheeler that suits your requirements and also serves your purpose. If you are purchasing a two wheeler for daily commute, you need a basic bike that is low on maintenance and will provide comfort as well as convenience. If you are more of a traveler and are purchasing a two wheeler for your trips on the hilly terrain, you need to scout the market for a higher capacity bike that will serve your purpose. With a range of Banks and Financial Institutions offering customized solutions, it has now become much easier to gain financial aid for your purchase. Choose a reliable and trustworthy financier that will provide you a loan that suits your requirements and will guide you throughout the entire process. The loans come at a long tenure and have a low rate of interest. In addition, you can also seek for a customized solution that will help you in the monthly repayment of the loan.