Bring home a brand new two wheeler with a loan that has friendly terms of repayment. If you have been eyeing a two wheeler for the past few months, now is the time to turn the dream into a reality. You can bring home a shiny new ride without breaking your bank. There are new two wheelers being introduced every few months and it is important to understand what you are getting into. Choose the two wheeler you want to purchase and learn all about the features and technology. Depending on your use, you can buy a two wheeler that is perfect for your day to day needs. When it comes to choosing a two wheeler, you will be spoilt for choice. However, it is important to keep your requirements in mind before you make the final decision.
No matter the two wheeler you decide to purchase, you can apply for a loan for two wheeler and pay off the loan while you use your brand new ride. Banks and NBFCs offer loans for the purchase of two wheelers. The loan is designed to make your buying process smooth and hassle free. It will also help ensure that you do not compromise on the two wheeler you intend to own. Scout the market for lenders who offer a low 2 wheeler loan interest rate because it will make a huge difference to the amount of EMI you pay each month. A low interest rate means a low EMI and lower monthly outflow.
Any individual above the age of 21 is eligible to apply for the loan. You need to fill the application form and submit necessary documents to make the loan application. The documents required are identity proof, address proof, income proof and an invoice of the two wheeler you want to purchase. You will have to make a down payment for the purpose of purchase. The balance amount will be your loan. Consider your financial condition and the monthly outflows before you sign on the dotted line. It is important to understand that the loan will have to be repaid in monthly installments and if you fail to do so, your credit score will fall. Use the EMI calculator to estimate the amount of EMI you will have to pay each month. The calculator is free for all and is available online. You simply need to provide the loan amount and the tenure in order to get an EMI estimate.
Due to increasing competition in the industry, banks are offering low 2 wheeler loan interest rate which has made it easier for applicants to get a loan approval. You can pay off the amount while you use the two wheeler. Your loan application will be approved within 2 to 4 working days and you will be able to bring the brand new two wheeler home. Take your first flight to freedom with a new two wheeler without breaking your savings.