Two Wheeler Loan
Whatever be your choice of a two-wheeler - right from a Moped to a 500cc racer bike our two-wheeler Loan scheme is designed for you. The process is entirely paperless. In principle, approval can be provided in 15 minutes subject to the satisfaction of CIBIL and rating scores.
- It is available to all Individuals.
- It is for the purchase of a two-wheeler for personal use.
|Loan amount||Maximum up to Rs. 50 Lakhs|
|Margin||15% to 25%|
|Maximum Repayment Tenor||60 Months - EMI|
|Primary Security||Hypothecation of Vehicle purchased out of bank finance.|
|Collateral Security||Optional (NSC / KVP / LIC Policies, Bank Deposits, Land & Building etc.,).|
A suitable Guarantor with sufficient net worth, acceptable to the Bank (preferably spouse or family members or friends).
|Insurance Coverage for the Borrower||Available to the extent of the Loan amount with BAGIC payable by the Borrower. (As per choice of the Borrower).|
|Vehicle value up to Rs. 2 Lakhs||1% of loan amount subject to a minimum of Rs. 1,000/-|
|Vehicle value above Rs. 2 Lakhs up to Rs. 10 Lakhs||Rs. 3,000/-|
|Vehicle value above Rs. 10 Lakhs||Rs. 7,500/-|
|Other Terms & Conditions|| |