Two-Wheeler Loan makes it possible to purchase a two-wheeler and pay back in lower monthly instalments, thereby reducing the burden of a one-time payment.
Best two wheeler loan offers are
Central Bank of India
Central bank of India offers Two Wheeler Loans at a very low and competitive rate of interest i.e 10.05% . The quantum of finance for two wheeler loans is 10 lacs. An individual should be at least 18 years of age with 1.20 lacs annual incomes to avail this loan. Central Bank offers flexible repayment tenure of 60 months to repay the loan through PDC’s.
Bank offers two wheeler loans to individuals with minimum 21 year of age with annual income of 0.50 lacs. The quantum of finance is 6 months of gross salary or 95% of on road finance, whichever is low. The rate of interest of 11.65 % is offered by syndicate bank. Minimum processing fees is collected from the customer. Loan can be repaid without and hassle up to 60 months. Quick approval , spot sanction and fast processing of the loan are the major features of the bank.
HDFC bank has a renowned name in two wheeler finance. HDFC bank account holders can enjoy two wheeler finance at 2% low rate of interest and 0.50% discounted processing fees. Super bike loans @ 10.51% and two wheeler loans @ 11.81% is offered by HDFC bank. Tenure period ranges from 12 months to 48 months. Approval within 30 minutes, affordable rate and minimum documentation are the major features. 3% of documentation charges and processing fees are levied by the bank.
ICICI Bank offers special rate to customers based on the relationship, customer profile, loan amount and tenure. Two wheeler loan can be availed at 12.50% from the bank. Documentation charges of Rs. 350/- is collected from the customer. Minimum documents, fast approval and quick disbursement are the main features of ICICI Bank. Also, post disbursement customer service provided is excellent.
Union Bank of India
Union Bank of India offers two wheeler loans named UNION MILES to its customer with minimum 18 years and above holding valid driving license. Bank rate of interest is 14.40% for the maximum tenure of 36 months. Presently the processing fee is waived till 31st march 2016. There are no prepayment penalty charges if the borrower forecloses his loan. As a security the two wheeler will be hypothetical in the name of bank till the loan is going on. Even if the rate of interest is on a higher side nil processing fees attracts a lot of customers to avail this loan.
[button class="btn-primary" link = "https://www.letzbank.com/bank-search/2-wheeler-loan"]Check Your Eligibility[/button]