Are you in need of your own conveyance? Are you looking for a two-wheeler loan? If yes, then you are at the right place, reading the right thing. Two-wheeler loans are available in abundance and there are a few tricks to choose the best-suited one for you. Having a bike will make your life easier as it will let you zoom through the traffic with ease and elan. Also, it’s much safer to have your own conveyance now keeping in mind the post pandemic scare. Bikes are much easier to park as well and hence, to make your two-wheeler purchase a bit more comfortable, there are many lenders who are providing the best-ever two wheeler loan in New Delhi.
Here is a step-by-step guide to help you choose the most convenient bike loan in India.
• Loan Eligibility: In order to be eligible for a two-wheeler loan in India, you need to be at least 18 years of age. You can be a self-employed or a salaried professional with an experience of a year at the most. Also, you should have proper proofs of your address and your age, along with your last 6 month’s earning statement and a passport sized photograph of yours.
• Interest Rates: Bike loans in India are easy to find but not all lenders will provide you with competitive interest rates. So, you need to choose a company which will provide you with lucrative and comfortable interest rates as per your profile and your credit history. Also, you need to maintain a good credit score in order to avail the loan without any hassles.
• Repayment Options: You need to understand the loan tenure, EMI options and interest rates well before you apply for a bike loan. The EMI of your loan will depend on your loan tenure directly. Hence, ensure that you know about the repayment charges and processing fees detail as these will directly affect the cost of your loan. You can also use the EMI calculator to know the EMI that will be best-suited to your needs.
• Loan Disbursement: Over the past few years, several lenders have reduced the loan processing time in the country. This is due to the advancement in the field of technology which makes the streamlining process easier. Therefore, you need to get in touch with a lender who will assure you that the loan amount will be disbursed into your account as fast as possible.
These days, the lenders also provide a few special schemes for the two-wheeler loan borrowers. A two-wheeler loan in New Delhi is specifically designed to meet the needs of the customers. So, once you zero down on a lender, make sure that you ask them about any such special schemes that they might offer. And if you keep in mind the above-mentioned points, it will get truly easier for you to apply for the loan, get the amount in your account and also to repay the amount on time in order to get the NOC from the loan lending institution.