Bikes are not just for exercise and fun; they are fast becoming a more popular option of transportation. In our effort to promote healthy living, we at Allianz General Insurance are offering 100% financing options to bike owners across India . The rapidly emerging cycling culture would look to owners for performance, dependability, safety and fuel economy while considering their bikes. We believe that owning a bike should not cost an arm and a leg. It is for this reason that we offer high-end bikes on zero down payment.
Best Tips How To Avail A Bike Loan
- In order to avail a loan of up to 100% of the vehicle price minus taxes and transportation charges, you will have to make a minimum down payment and sign on for a manageable EMI scheme. Lenders may also ask you for additional documents, such as if you were self-employed, in which case you’ll have to provide proof of income, or if you had another loan outstanding with the same lender within the last 6 months, you might need to furnish information of your disbursal pattern. The bottom line is that you shouldn’t shy away from asking the right questions if you’
- Two wheeler finance is available from different banks and non-banking financial companies. You need to visit the bank and complete the formalities such as filling up an application form. For a bike loan, you will have to submit proof of identification, residence proof, education qualification and employment proof for yourself and your spouse, if any. If in case you are salaried, you may provide an income certificate from your employer. At the same time, show evidence of your savings either by providing a copy of a passbook containing balance or a statement showing a minimum balance.
- A bike loan is offered by a private bank and not all banks offer bike financing. A bicycle loan will help you buy a bike with low interest rates. A bank may or may not expect the client to make a down payment on the bike. It entirely depends upon the threshold of security assigned by the lender. In general, banks prefer young and healthy individuals, who have been in employment for a period of 1 year or more as good credit options or guarantors.
- Much is said about credit information companies and scoring of the consumer. Credit information companies like CIBIL accumulate data from the lenders and financial institutions. The consumer or applicant has to wait for sometime after the loan is applied for before they receive the tentative decision. This may take some time, sometimes few weeks, or months even.
- The higher the credit score, the lower is the risk to the lender and it is able to make a better offer to the applicant. Credit scores can be kept low by making full repayments on time or reducing outstanding balances on loans as quickly as possible, which will improve your overall credit score .
- All wheeler loan interest rates are also called as two wheeler loan interest rates or used car loan. Interest rates differ among banks and finance companies. Usually, bigger loans come with better deals and comfortable repayment options.
- Some lenders charge exorbitant prepayment and processing fees which can increase the load of clearing payments. Prepayment charges, margin money, and advanced EMI is jargon used by banks and lenders and a buyer should familiarise himself with these terms before selecting his bank. Muthoot Capital share price managed to grow its earnings per share at 19% a year.
Conclusion
The one thing stopping you from walking into your local showroom and picking up a sleek cruiser, or a comfortable touring bike must be the money required to buy and operate it. But we at Muthoot Capital understand that passion and fulfil the dreams of bike lovers like you by offering two wheeler loans, without any hassles. We present a great portfolio to make your buy hassle-free and efficient.
With flexible repayments, loan amounts up to 50 lakhs and low two wheeler loan interest rates, getting a bike loan is not only an easy task but also one which can prove to be attractive at the same time.
