Two Wheeler Loan

1) Funding for Two-Wheeler Purchase:

ETwo-wheeler loans provide financing for the purchase of new and used bikes, scooters, motorcycles, and other two-wheeled vehicles.

2) Loan Amount Based on Vehicle Cost:

The loan amount is usually determined based on the ex-showroom price of the two-wheeler. In some cases, lenders may also consider additional costs such as registration, insurance, and accessories.

3) Flexible Repayment Options:

Two-wheeler loans offer flexible repayment tenures, ranging from 12 months to 60 months, allowing borrowers to choose a repayment schedule that fits their budget.

4) Low Down Payment Quick Processing and Approval:

Lenders often offer low down payment options, making it easier for borrowers to afford the initial payment for the two-wheeler purchase.
These loans are processed quickly, with minimal documentation requirements, enabling borrowers to get approval and purchase their desired two-wheeler promptly.

5) Competitive Interest Rates and Minimal Documentation:

Two-wheeler loans come with competitive interest rates, ensuring that borrowers can finance their purchase at affordable rates.
The documentation process for two-wheeler loans is straightforward, usually requiring basic identity proof, address proof, income documents, and vehicle-related documents.

1) Convenient and Efficient Commuting:

A two-wheeler provides a convenient mode of transportation for daily commuting, helping borrowers save time and money on public transport or fuel expenses.

2) Freedom and Mobility:

With their own two-wheeler, borrowers have the freedom to travel independently, whether it's for work, errands, or leisure activities.

3) Improved Lifestyle and Convenience:

Owning a two-wheeler enhances lifestyle convenience, allowing borrowers to reach destinations quickly and easily, especially in congested urban areas.

4) Ownership Benefits:

Unlike renting or sharing options, owning a two-wheeler provides the benefits of complete ownership, including customization, personalization, and long-term savings.

5) Access to Better Models:

With the financial support of a two-wheeler loan, borrowers can afford better models or higher-end vehicles that may have been out of reach otherwise.

6) Emergency Transportation:

In case of emergencies, having a two-wheeler ensures quick and immediate transportation, providing peace of mind and security.

• 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.

• Applicant should be residing in the same house for at least one year to show residential stability.

• Applicant should be in a stable job for one year or self-employed with IT returns of two years.

• Applicant should have a good CIBIL score with credit bureaus

• Applicant should have a permanent telephone number and possess KYC and other related documents.

What are factors affecting two-wheeler loan eligibility?

Your two-wheeler loan eligibility depends on factors like your income, credit score, and current financial obligations.

Income : Your two-wheeler loan eligibility also depends on your income. Since a two-wheeler loan is unsecured, you will have to convince your lender that you have a stable source of income. A higher-income will also ensure a lower interest rate.

Outstanding loan : Having large outstanding debts will hurt your two-wheeler loan eligibility. If your lender finds that you have current obligations, you may not be offered a loan.

EMI Calculator for Two-Wheeler Loan

An EMI calculator is a useful tool that can help you estimate the monthly installments you will have to pay towards your Two-Wheeler Loan within a specific period. By using the Noble Fintech Advisory EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different loan options using Noble Fintech Advisory Two-Wheeler Loan calculator.

Identity Proof:

1) Aadhaar Card

2) PAN card

3) Passport

4) Driving Licence

4) Electoral Voter Identity Card

Address Proof:

Salaried persons:

1) Employment or offer letter

2) Last salary slips <45 Days

3) Last six months bank statements and latest form 16

Self-Employed:

1) Last three years income tax returns

2) Last six months bank statements

3) Sales tax returns

4) TDS Certificate

5) Company details

1) Funding for Two-Wheeler Purchase:

ETwo-wheeler loans provide financing for the purchase of new and used bikes, scooters, motorcycles, and other two-wheeled vehicles.

2) Loan Amount Based on Vehicle Cost:

The loan amount is usually determined based on the ex-showroom price of the two-wheeler. In some cases, lenders may also consider additional costs such as registration, insurance, and accessories.

3) Flexible Repayment Options:

Two-wheeler loans offer flexible repayment tenures, ranging from 12 months to 60 months, allowing borrowers to choose a repayment schedule that fits their budget.

4) Low Down Payment Quick Processing and Approval:

Lenders often offer low down payment options, making it easier for borrowers to afford the initial payment for the two-wheeler purchase.
These loans are processed quickly, with minimal documentation requirements, enabling borrowers to get approval and purchase their desired two-wheeler promptly.

5) Competitive Interest Rates and Minimal Documentation:

Two-wheeler loans come with competitive interest rates, ensuring that borrowers can finance their purchase at affordable rates.
The documentation process for two-wheeler loans is straightforward, usually requiring basic identity proof, address proof, income documents, and vehicle-related documents.

1) Convenient and Efficient Commuting:

A two-wheeler provides a convenient mode of transportation for daily commuting, helping borrowers save time and money on public transport or fuel expenses.

2) Freedom and Mobility:

With their own two-wheeler, borrowers have the freedom to travel independently, whether it's for work, errands, or leisure activities.

3) Improved Lifestyle and Convenience:

Owning a two-wheeler enhances lifestyle convenience, allowing borrowers to reach destinations quickly and easily, especially in congested urban areas.

4) Ownership Benefits:

Unlike renting or sharing options, owning a two-wheeler provides the benefits of complete ownership, including customization, personalization, and long-term savings.

5) Access to Better Models:

With the financial support of a two-wheeler loan, borrowers can afford better models or higher-end vehicles that may have been out of reach otherwise.

6) Emergency Transportation:

In case of emergencies, having a two-wheeler ensures quick and immediate transportation, providing peace of mind and security.

• 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.

• Applicant should be residing in the same house for at least one year to show residential stability.

• Applicant should be in a stable job for one year or self-employed with IT returns of two years.

• Applicant should have a good CIBIL score with credit bureaus

• Applicant should have a permanent telephone number and possess KYC and other related documents.

What are factors affecting two-wheeler loan eligibility?

Your two-wheeler loan eligibility depends on factors like your income, credit score, and current financial obligations.

Income : Your two-wheeler loan eligibility also depends on your income. Since a two-wheeler loan is unsecured, you will have to convince your lender that you have a stable source of income. A higher-income will also ensure a lower interest rate.

Outstanding loan : Having large outstanding debts will hurt your two-wheeler loan eligibility. If your lender finds that you have current obligations, you may not be offered a loan.

Identity Proof:

1) Aadhaar Card

2) PAN card

3) Passport

4) Driving Licence

4) Electoral Voter Identity Card

Address Proof:

Salaried persons:

1) Employment or offer letter

2) Last salary slips <45 Days

3) Last six months bank statements and latest form 16

Self-Employed:

1) Last three years income tax returns

2) Last six months bank statements

3) Sales tax returns

4) TDS Certificate

5) Company details

EMI Calculator for Two-Wheeler Loan

An EMI calculator is a useful tool that can help you estimate the monthly installments you will have to pay towards your Two-Wheeler Loan within a specific period. By using the Noble Fintech Advisory EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different loan options using Noble Fintech Advisory Two-Wheeler Loan calculator.