Best Banks for Two Wheeler Loan in Vadodara
Two Wheeler Loan in Vadodara Features
Thinking of purchasing a new two-wheeler? But don’t have the required funds for it? Do not worry! A Two-Wheeler Loan is here for you. A Two-wheeler loan is a means of funding or financial help provided by banks and NBFCs to the applicants at an affordable rate of interest to aid them in buying a two-wheeler, whether new or used. Two-wheelers have become a necessity for everyone, but the cost of two-wheelers is growing rapidly daily. This is where a two-wheeler loan comes into play and fulfils your desire to be the owner of your dream two-wheeler. The main features of a two-wheeler loan in Vadodara are:
- Two-wheeler loan are available at low-interest rates
- Almost all major banks and NBFCs offer two-wheeler loans in Vadodara
- The documentation process is quick and hassle-free
- Two-wheeler loans are easily available through DialaBank
Two-wheeler Loan in Vadodara Interest Rate
Know More – Two-wheeler Loan interest rate
Two-wheeler Loan Vadodara Documents Required
Documents required for a two-wheeler loan are as followed:
For Salaried:-
- Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
- Income Proof: Latest 3-month salary slip with form 16
- Address Proof: Driving license / Voters card / Passport Copy / Telephone Bill / Ration card / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
For Self Employed:-
- Identity Proof: PAN Card, Voters ID card, Passport copy, Driving License
- Income Proof: Latest ITR
- Address Proof: Voters card / Passport Copy / Ration card / Telephone Bill / Driving license / Electricity Bill / Life Insurance Policy /PAN Card
- Bank Statement: Last 6 months.
Two-wheeler Loan Vadodara Eligibility Criteria
The two-wheeler loan eligibility requirements are as followed:
For Salaried:-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: 1 year in current employment and a minimum of 2 years of employment
- Minimum Annual Income: Rs 1,00,000 net annual income
For Self-Employed:-
- Minimum age: 21 years
- Maximum age at loan maturity: 65 years
- Minimum employment: at smallest 3 years in sales
- Minimum Annual Income: Net profit Rs. 60,000 p.a for regular cars and Rs.1,00,000 p.a. for mid-sized and superior cars
Two-wheeler loan for Top selling bikes in Vadodara
Processing Fees / Prepayment Charges on Two-wheeler Loan Vadodara
The processing fee charges on a two-wheeler loan in Vadodara are Up to 3% of the loan amount (maximum). Prepayment Charges are 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.
Two-wheeler loan Vadodara Contact Number
In case of any queries regarding the two-wheeler loan in Vadodara, you may contact on the number 9878981166 for any sort of assistance.
Pre Calculated EMI Table for Two-wheeler Loan Vadodara
Rate
5 Yrs
4 Yrs
3 Yrs
10.50%
2149
2560
3250
11.00%
2174
2584
3273
11.50%
2199
2608
3297
12.00%
2224
2633
3321
12.50%
2249
2658
3345
13.00%
2275
2682
3369
13.50%
2300
2707
3393
14.00%
2326
2732
3417
14.50%
2352
2757
3442
15.00%
2378
2783
3466
Two-wheeler Loan EMI Calculator
FAQs for Two Wheeler Loan in Vadodara
✅ Why should I apply for a Two Wheeler Loan in Vadodara?
Owning a Two Wheeler in Vadodara can make you feel confident and independent. However, to pay for it out of your own pocket can make it a financial burden for you and the Vadodara Two Wheeler loan helps you pay for the vehicle through easily affordable monthly payments.
✅ Can a Two Wheeler Loan in Vadodara fund my vehicle purchase completely?
Most banks in Vadodara offer to fund up to 85% or even 90% of the vehicle cost. However, few lenders in Vadodara even fund for the 100% amount but charge some additional costs and add some conditions to it.
✅ What costs will a Two Wheeler Loan in Vadodara cover?
A Two-Wheeler loan in Vadodara will cover the registration charges, insurance, as well as accessories. You can get even more benefits in Vadodara if your bank has a tie-up with a particular Two Wheeler company.