Who can apply for two wheeler loan?

Can an 18 year old get a bike loan?

Minimum age of the loan applicant should be at least 18 years at the time of applying for the loan, and the maximum age limit should be 65 years.

What is Bike loan eligibility?

The following are the two wheeler loan eligibility criteria for salaried and self-employed individuals – The applicant’s age must be between 21 to 60 years. The applicant must have a residential stability for a minimum of one year. The applicant must have a stable employment status for at least a year.

Which bank is best for 2 wheeler loan?

Two wheeler Loan Interest Rates 2021

Bank Lowest Interest Rate Processing fee
L&T Finance 10.75% p.a. – 15.00% p.a. At L&T discretion
State Bank of India (SBI) 16.25% p.a. To 18.00% p.a. 2% of the loan amount + GST
Axis Bank 10.80% – 28.30% Up to 2.5% of the loan amount
HDFC Bank 20.90% p.a. Up to 2.5% of the loan amount

What is the minimum age to finance a bike?

The minimum age limit for procuring a bike loan is 21 years. The maximum age limit to qualify for bike loan eligibility is 58 to 65 years or retirement age. Your employment status should either be salaried or employed, with a minimum annual income of Rs 50,000 per year.

IT IS INTERESTING:  Do you need good credit to get WiFi?

Can students get two wheeler loan?

The student will need to provide a co-applicant/guarantor to avail this type of loan. Most banks take up to 3 days to process the documents. Two wheelers loans for students are unsecured. There is no restriction on the type of vehicle the student may purchase by availing this type of a loan.

Can I buy a bike with zero down payment?

Bike Loan without any Down payment

A zero loan without down payment loan is called a 100% financing Loan. The lender doesn’t ask for any margin or down payment, and the lender finances the bike’s whole cost. There is some processing fee that the borrower will have to pay, but the lender finances the bike’s entire cost.

Can I get 100% bike loan?

You can get up to 100% of the bike’s value as a loan, making it easier to own a bike if you can not afford to make the initial down payment. … You can choose to repay your loan amount with interest within 12 to 36 months. There is minimal documentation required.

How do I know if I qualify for a loan?

How can I check personal loan eligibility?

  1. Open the loan eligibility calculator.
  2. Select the city of residence, date of birth, monthly income and monthly expenses.
  3. Once you select these fields, the tool will show an amount that you will be eligible for.
  4. You can apply for the same amount and get quick loan approval online.

Can I get loan for used bike?

Many banks provide second-hand bike loans with various rates of interest and tenure. … They will offer a loan amount after verifying the used bike you want to buy. Personal loans: Instead of a bike loan, you can go for a personal loan.

IT IS INTERESTING:  Can you have more than 1 secured loan?

Can we use Bajaj Finserv card to buy bike?

Can I buy a bike with my Bajaj Finserv EMI Network card? No, you cannot buy a bike with a Bajaj Finserv EMI Network Card.