Lakshmi Vilas Bank Two Wheeler Loan Key Features
| Lakshmi Vilas Two Wheeler Loan Interest Rate | 11.83%* per annum |
| Min Loan Amount | ₹ 10,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 90% of On Road Price or 100% of Ex-showroom Price |
| Loan Tenure | 1 year to 4 years |
| Lowest EMI / Lac | ₹ 2,625 |
| Minimum Net Monthly Income | Salaried – ₹ 7,000, Self Employed – ₹ 6,000 |
| Age Criteria | 21 years to 65 years(At Loan Maturity) |
| Types of Vehicle | For All New Two-Wheelers (Bikes, Superbikes, etc.) |
| Processing Fee | Up to 3% of the Loan Amount. |
| Foreclosure Charges | 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months) |
| Basic Documentation | ID Proof, Address Proof, Bank Statement |
How to avail of two-wheeler loans?
If you’re weary of waiting for the bus or haggling with taxi drivers, now is the time to get your own motorcycle. The ability to drive fast and safely is one of the main advantages of riding a two-wheeler.
Since a two-wheeler uses less fuel and is simpler to maintain than a sedan, it is a popular option for first-time car buyers. Rather than taking on the whole financial responsibility of a two-wheeler purchase, it is preferable to take out a two-wheeler loan and repay it in manageable EMIs.
- Choose the two-wheeler loan form and brand that better fits your needs. Bank provides Super Cycle Loans if you like anything better than a normal bike.
- When you register online, the bank will send a representative to your home to complete the paperwork, so you won’t have to wait in long lines.
- You will save up to Rs. 12,500 as a result.
- But that’s not the end of the story. The advantages of a Lakshmi Vilas two-wheeler loan are many.
- The interest rate is 2% lower for Lakshmi Vilas account holders.
- You can range from a 12-month to a 48-month repayment period.
- Your loan will be approved right away, which means you won’t have to wait long to get your dream vehicle.
About Lakshmi Vilas Two Wheeler Loan
Lakshmi Vilas’s financial institution Two Wheeler mortgage has to turn out to be essential for a person to fulfil his dream of shopping for a brand new bike at any charge with any monetary resource. Lakshmi Vilas financial institution is offering the chance of a lifetime by offering the lowest Two Wheeler Loan rate of interest & reasonably priced EMIs.
Advantages of Lakshmi Vilas Two Wheeler Loan
- Simple and hassle-free process.
- Quick Disbursal of mortgage Amount.
- Fulfil your needs by selecting the 2 Wheeler you love.
- Attractive value of interest.
- Easy compensation and Prepayment Method.
Factors Affecting Two-wheeler Loan Application
- Until taking out a two-wheeler loan from Indian Overseas Bank, consider the following considerations.
- Your credit score. When you approach a lender in India for a loan, one of the first and most important criteria they consider is your credit score.
- Secured vs Unsecured Loan Loan Amount Loan Duration Dealership Location
Lakshmi Vilas Two Wheeler Loan Eligibility
Your potential to repay the mortgage is the most important thing about deciding or not you’ll be eligible or not for the Lakshmi Vilas bike loan online. In accordance with are the most important criteria’s:
- The candidate needs to be of not less than 21 years of age and most of 65 years of age to use for the loan.
- If you’ve got a median month-to-month revenue of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re eligible for the Lakshmi Vilas two Wheeler loan.
- Cibil rating has an instantaneous influence on your eligibility for a two-wheeler loan. If, in case you have a tall Cibil score, you could get the acclaim for the mortgage easily.
Lakshmi Vilas Two Wheeler Loan Interest Rate, Fees and Charges
| Interest Rate | Starts at 11.83% p.a. |
| Processing Fee | Up to 3% of the loan amount (maximum) |
| Prepayment Charges | From 3% to 10% of the outstanding principal |
| Prepayment charges | Within 4 to 6 months – 10% of principal outstanding Within 7 to 12 months – 6% of principal outstanding 13-24 months – 5% of principal outstanding Post 24 months – 3% of principal outstanding Prepayment is not allowed within three months of EMI repayment |
Lakshmi Vilas Two Wheeler Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof | Driving Licence Aadhaar Card Passport Voter ID |
| Address Proof | Driving Licence Aadhaar Card Passport Voter ID |
| Compulsory Documents | PAN Card |
| Bank Statement | Bank statement of last 3 months |
Self-Employed Individual
| Category | Documents Required |
| Identity Proof | Driving Licence Aadhaar Card Passport Voter ID |
| Address Proof | Driving Licence Aadhaar Card Passport Voter ID |
| Required Documents | PAN Card |
| Bank Statement | Bank statement of last 3 months |
Laksmi Vilas Two Wheeler Loan EMI Calculator
The candidate has a way to understand the EMI’s prior to availing Laksmi Vilas Two Wheeler Loan. Thus, you could effortlessly test throughout the hyper below:
Two Wheeler Loan EMI Calculator
Laksmi Vilas Two Wheeler Loan Types
Lakshmi Vilas financial institution gives more than one sort of loan to its prospects, and you may have the choice of selecting one in every one of them as per your requirements. You may have the under two options:
- Two Wheeler Loan – If you need to buy a two-wheeler and are looking to finance it, then Laksmi Vilas has one of providing for you. that you could avail of this mortgage at a ravishing rate of interest of 12%.
- Super Bike Two Wheeler Loan – If you’re planning to purchase a Superbike and are searching for funds, then that is the most effective deal on hand for you at a fantastic rate of interest of 11.83%.
Lakshmi Vilas Two Wheeler Loan Pre Calculated EMI
| Rate | 4 yrs | 3 yrs | 2 yrs | 1 yr |
| 11.83% | 2625 | 3313 | 4699 | 8876 |
| 12.00% | 2633 | 3321 | 4707 | 8884 |
| 12.50% | 2658 | 3345 | 4730 | 8908 |
| 13.00% | 2682 | 3369 | 4754 | 8931 |
| 13.50% | 2707 | 3393 | 4777 | 8955 |
| 14.00% | 2732 | 3417 | 4801 | 8978 |
| 14.50% | 2757 | 3442 | 4824 | 9002 |
| 15.00% | 2783 | 3466 | 4848 | 9025 |
| 15.50% | 2808 | 3491 | 4872 | 9049 |
| 16.00% | 2834 | 3515 | 4896 | 9073 |
| 16.50% | 2859 | 3540 | 4920 | 9096 |
| 17.00% | 2885 | 3565 | 4944 | 9120 |
How to Apply for Lakshmi Vilas Two Wheeler Loan
That you would be able to observe for Lakshmi Vilas financial institution Two Wheeler mortgage online by visiting Dialabank’s digital platform after which :
- Fill the fundamental software shape for 2 Wheeler Loan
- Please look forward to a name from our Relationship Manager
- Get customized help and make a selection essentially appropriate to provide in keeping with your needs.
- Enjoy your Two Wheeler.
Compare Bike Loan Interest Rates of the bank with other banks
| Bank | Two Wheeler Loan Interest Rates | Lowest EMI Per ₹ 10 Thousand For Max Tenure |
| Axis Bank | 10.85% | ₹ 217 for 5 years |
| SBI | 16.05% | ₹ 352 for 3 years |
| HDFC Bank | 9.10% | ₹ 249 for 4 years |
| PNB | 9.55% | ₹ 210 for 5 years |
| Bajaj Auto Finance | 13.26% | ₹ 338 for 3 years |
| IndusInd Bank | 21.00% | ₹ 377 for 3 years |
| Allahabad Bank | 10.40% | ₹ 214 for 5 years |
| Andhra Bank | 9.90% | ₹ 212 for 5 years |
| Bank of India | 7.45% | ₹ 200 for 5 years |
| Union Bank of India | 9.90% | ₹ 322 for 3 years |
| United Bank of India | 9.55% | ₹ 210 for 5 years |
| Corporation Bank | 9.90% | ₹ 322 for 3 years |
| Indian Bank | 10.40% | ₹ 214 for 5 years |
| Karnataka Bank | 8.48% | ₹ 205 for 5 years |
| Jammu And Kashmir Bank | 8.70% | ₹ 206 for 5 years |
| Canara Bank | 9.00% | ₹ 318 for 3 years |
Other Available Products from Lakshmi Vilas Bank
| Lakshmi Vilas Personal Loan | Lakshmi Vilas Gold Loan | Lakshmi Vilas Home Loan |
| Lakshmi Vilas Credit Card | Lakshmi Vilas Car Loan | Lakshmi VilasEducation Loan |
FAQs for Lakshmi Vilas Bank Two Wheeler Loan
✅ What is Lakshmi Vilas Bank Two Wheeler Loan?
The bank offers the chance to buy a bike with the edge of 15% of the receipt esteem. The base credit sum for the advance ought to be Rs. 10,000/ -The time of reimbursement for another bike credit is 60 months.
✅ How can I get a Two Wheeler Loan from Lakshmi Vilas Bank?
Contact the bank for the financing cost that will be relevant to you. The bank offers the chance to buy a bike with the edge of 15% of the receipt esteem. The base credit sum for the advance ought to be Rs. 10,000/ –
✅ How does Lakshmi Vilas Bank Two Wheeler Loan work?
The bank offers the chance to buy a bike with the edge of 15% of the receipt esteem. The base credit sum for the advance ought to be Rs. 10,000/ –
The time of reimbursement for another bike credit is 60 months.
✅ What is the Two Wheeler Loan Interest Rate in Lakshmi Vilas Bank?
It starts at 11.83% per annum.
✅ How to check Two Wheeler Loan status in Lakshmi Vilas Bank?
Online process without login: Visit their Main Page.
Go to on Products.
Loans Select a two-wheeler loan.
Check two wheeler Loan Application Status.
✅ How to calculate Two Wheeler Loan Interest in Lakshmi Vilas Bank?
Two Wheeler Loan EMI Calculator
✅ What is the maximum loan amount I can avail myself of on Two Wheeler Loan from Lakshmi Vilas Bank?
Loan up to 90% of On Road Price or 100% of Ex-showroom Price.
✅ What is the loan tenure of Lakshmi Vilas Bank Two Wheeler Loan?
One year to 4 years.
✅ How much Processing Fee is applicable on Lakshmi Vilas Bank Two Wheeler Loan?
Up to 3% of the loan amount (maximum).
✅ What are the EMI options available on Lakshmi Vilas Bank Two Wheeler Loan?
Most reduced EMI/Lac ₹ 2,625.
✅ What are the charges for Prepayment in Lakshmi Vilas Bank Two Wheeler Loan?
From 3% to 10% of the outstanding principal.
✅ Can I get a top-up loan on my existing Lakshmi Vilas Bank Two Wheeler Loan?
No, you cannot get a top-up on the existing two-wheeler loan.
✅ Do I need to provide a guarantor to avail myself of a Two Wheeler Loan from Lakshmi Vilas Bank?
Guarantee(s) of the proprietors of the insurance security, whenever acquired OR Personal assurance from an outsider with reasonable total assets or salary (MUST for four-wheeler advances)
✅ What is the number for Lakshmi Vilas Bank Two Wheeler Loan agent?
The complementary client care number of the bank is 1800 425 2233.
✅ Can I close Lakshmi Vilas Bank Two Wheeler Loan online?
Closing any of your current credit is simple, and one can do it by visiting the physical branch or mentioning a pre-conclusion on the web.
✅ What is Lakshmi Vilas Bank Two Wheeler Loan Customer Care Number?
The complementary client care number of the bank is 1800 425 2233.
News about Two Wheeler Loan
2021-07-15:
PNB Housing Finance made a net profit of Rs 127 crore in the fourth quarter:
PNB Housing Finance reported a combined net profit of Rs 127 crore in Q4 thanks to retail loans such as home, personal, LAP, two-wheeler, car, education, and doctor loans, as well as deposits such as fixed and recurring deposits. In January-March, total revenue was Rs 1,834 crore, down from Rs 1,952 crore in the same period the previous fiscal year. Interest income dropped by more than 7% to Rs 1,670 crore in the third quarter, compared to Rs 1,803 crore a year earlier, due to the country’s turbulent economic condition.
2021-05-05:
Bangalore’s two-wheeler dealers advise reluctant customers to hire a motorcycle:
Automotive retailers are urging clients who are reluctant to take out bank loans to try leasing vehicles, according to reports. A car leasing firm, OTO Capital, recently announced a major extension of its relationship with Bangalore’s auto dealers. Since the COVID-related lockout restrictions were lifted, customers’ appetites increased. Many owners, on the other hand, choose to hire vehicles rather than taking out bank loans for two-wheelers or cars. This is due in part to the country’s precarious economic status.
