Allahabad Bank Two Wheeler Loan


Allahabad Bank Two Wheeler Loan

Allahabad Bank is one of the oldest banks in India. The bank was established 153 years ago. Allahabad Bank was founded on 24th April 1865. Headquarter of the bank is in Kolkata. Bank provides financial services to its customers like consumer banking, corporate banking, finance, and insurance. Bank operates in 29 states and 3 UT’s in India. The bank provides two wheeler loan at very low rates of interest.

Twowheeler Loan

Twowheeler loan is a secured loan in which we borrow the money from the bank at some rate of interest; however, the rates of interest are quite affordable. They are not as high as a personal loan. You can buy any twowheeler with the help of a twowheeler loan. this loan comes under the category of secured loans. The bank will bound your twowheeler if you won’t return your twowheeler loan on time.

Difference Between a Personal Loan and a Twowheeler Loan

A twowheeler loan and a personal loan are quite different. A personal loan comes into the category of unsecured loan and you can use the amount of personal loan anywhere according to your personal need. But in a twowheeler loan, the bank gives you an aid specifically to buy a twowheeler. You can’t use this amount of loan anywhere else. Bank or any other lender won’t allow you to do so. Besides that, a twowheeler loan comes into the category of secured loan. the bank has something as a security in case you won’t return your loan. it is your twowheeler that you are buying.

Eligibility

  1. The minimum age of the applicant is required to be 21 years.
  2. After that, the applicant should have the citizenship of India.
  3. The applicant should have some rigid source of income.
  4. The maximum age of the applicant at the time of the competition of the tenure can be 65 years.
  5. The minimum income of the applicant should be Rs. 8000 at least.

Documents Required

  1. 2 colored passport sized photographs.
  2. Identity Proof

First of all, an ID proof is required to get a twowheeler loan. This identity proof can be an Aadhaar card /PAN card/voter ID card/Ration Card / Driving Licence/ Passport)

  1. Resident Proof

Aa proof of residence is also required. It can be an Aadhaar card /PAN card/voter ID card/Ration Card / Driving Licence/ Passport/electricity bills of last three months on the name of the applicant with the rental agreement)

  1. Income Proof

One income proof is also required if you want to apply for a two wheeler loan. It can be salary slips of last three months and ITR of last three years for self-employed.

Procedure to Apply

  1. First of all visit www.bookmyloans.in online on google.
  2. Search for the Two Wheeler Loan.
  3. An application form will open up. Fill this form online with the important details of yours.
  4. You will get a proper assistance from our side. The process is very easy and hassle-free.
  5. For more information, you may call on 60011600.
  6. If you will apply for a two wheeler loan online on www.bookmyloans.in so will be benefitted by so many extra perks too.