Which Two Wheeler Loan Is Best
Travelling on public transport during peak hours can be stressful. Here you may think of driving a car or taking a cab. You risk getting snarled up in traffic by doing that. On the other hand, it's very practical to avoid the traffic on busy days when you have a two wheeler. This is not the only advantage. It is also safer and affordable.
The majority of people in India rely on two wheelers as their main mode of transportation. Millions of Indians still prefer riding on two wheels, whether travelling through urban areas or a remote village. Here comes the need for a two wheeler loan. Most people tend to take Loan on a two wheeler to support the funding for purchasing two wheelers. You can get the best benefits with top-ranking credit lines such as Bajaj Finserv Two wheeler Loan.
Features of one of the best two wheeler loans: You must think about the following features to find out the best two wheeler loans-
? Get finance for up to 100% of the on-road price- The best two wheeler loans provide finance for up to 100% on-road price of the two wheeler. It helps you purchase a two wheeler without getting worried about the funding.
? Easy documentation- The best two wheeler loan comes with hassle-free documentation. This ensures that the borrowers get their loans easily. Borrowers can rely on top financing schemes like Bajaj Finserv Two wheeler Loan to get this benefit. You can save your precious time with this easy process.
? Competitive interest rate- Interest rates are quite low because a two wheeler loan is a secured loan. The interest rates range between 9% and 14% for the best two wheeler loans. Borrowers must take care of their CIBIL score and credit history to get this interest rate.
? Instant approval- You can benefit from instant approval for the best two wheeler loans. You need to go through an online application and KYC submission process. After that, you will get instant approval if you are eligible for the loan and all your documents are right. You may get a sanction letter for verification at the dealership.
? Easy disbursal- The best two wheeler loans take a few hours to get sanctioned. You don't need to wait for days. It takes an utmost of 24 hours for disbursal. This means you don't need to wait for the funding for too long. This is a very important feature of the best two wheeler loans.
? Repayment tenor- You can enjoy the benefit of a long-term loan repayment tenor. The tenor can stretch up to 4 years. Sometimes it goes for 5 years. This indicates that you can divide the total loan repayment amount into small EMIs. This helps you keep up with your monthly budget. Also, you can choose the tenor you want as the flexible loan repayment option is available.
? Special schemes- Leading NBFCs provide consumers with unique low-down payments and EMI plans to make loan repayment easy. This is one feature that makes a two wheeler loan scheme the best.
? Pre-approved two wheeler loans- Existing customers of certain institutions may be eligible for pre-approved two wheeler loans. These loans are disbursed and approved right away. The borrowers don't need to go through the approval process as the loan is already approved.
? Cost of registration- You need to pay a minimum registration charge. The loan amount includes the cost of two wheeler registration and insurance most of the time. You don't need to pay extra money for registration and insurance. This feature also takes a two wheeler loan in the list of best credit lines.
? Additional charges- Best two wheeler loans charge up to 3% of the total loan amount as other charges. The percentage never increases. Make sure you are signing an agreement with keeping the number in mind.
These are the factors that the best two wheeler loans have. Now it will be easy to get the best offer considering these features. You need to fulfil the Two Wheeler Loan eligibility criteria to avail of this loan.
? One of the essential eligibility criteria is to be an Indian.
? The applicants must be between 21 years and 65 years of age when they are self-employed.
? Salaried employees must be between 21 years and 60 years of age if they want to get this loan.
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