Two Wheeler Loan
In a two-wheeler loan, we borrow money from the bank or non-banking financial organization at some rate of interest for a period of time. Under this loan, the bank provides you loan to buy a scooter, bikes, and other two-wheelers. Bank can finance your two-wheeler up to 90% of the ex-showroom value. You have to pay some rates of interest to the bank also. Apply for a two wheeler loan in Meerut online on bestloandeals.
Category of Two-wheeler Loan
The two-wheeler loan usually comes in the category of secured loan. a secured loan is a kind of loan where you pledge something to the bank as a security. However, you don’t pledge anything from your existing property in a two-wheeler loan but you pledge the two-wheeler to the bank that you are buying. Bank or other lender is completely liable to bound your two-wheeler if you don’t return the loan.
- First of all the age of the applicant should be more than 18 years.
- After that, the applicant should be a citizen of India.
- The applicant should be earning from somewhere.
- The maximum age of the applicant can be 65 years.
- The monthly income of the applicant should be Rs. 7000 per month for the salaried applicant.
- After that, the income of the self-employed person should be Rs. 6000 per month at least.