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.
Features and Benefits
- It is available to all Individuals.
- It is for the purchase of a two-wheeler for personal use.
Charges and Limits
| Loan amount | Rs. 100 lakhs |
| Margin | 10% to 15% |
| 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.,). |
| Guarantee | Optional. 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). |
| Processing Charges | |
| 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 |
|
Interest Rate
To check all Interest rate: Click here
