Bandhan Bank Two Wheeler Loan

Bandhan Bank Two Wheeler Loan

Bandhan Bank is India’s financial company. The headquarter of the bank is in Kolkata.  The bank is a private sector bank of India. The bank is founded on 23 December 2014. There are 840 branches of the bank all over India. The bank provides financial services to the customers. It was started as a microfinance company in 2001. The bank has gotten a license from RBI. The bank provides loans like personal loan, gold loan, home loan, education loan and a two wheeler loan.

Two wheeler loan

Two wheeler loan is a loan that gives you a privilege to borrow a money to buy a two wheeler. In a two wheeler loan, you borrow money from the bank or non-banking financial company at some rate of interest for a given period of time. It comes in secured loans if you won’t return your loan the bank will bound your two wheeler.

 

What can you buy?

  1. First of all, you can buy a motorbike.
  2. After that, you can buy a scooter with this amount of loan.
  3. Sometimes people also buy a  Super Premium Bikes with the help of two wheeler loan.

Why shouldn’t you get a personal loan to buy a two wheeler?

  1. Bank will give 90% funding for the ex-showroom value of two wheeler.
  2. The rates of interest are less than the rates of interest of a personal loan.
  3. The documentation process is very simple.
  4. The salary requirement is very less as compare to other loans.
  5. It is Rs. 7000 per month for the salaried applicant.

Eligibility

  1. At the time of application, the applicant should be of 21 years.
  2. After that, the applicant should have citizenship of India.
  3. The applicant should be working somewhere.
  4. CIBIL score of the applicant should be good.
  5. The maximum age of the applicant can be 65 years.
  6. The applicant’s minimum income should be Rs. 7000 per month at least.
  7. For a self-employed applicant, the income should be Rs. 6000 per month.

Interest Rate

11.50%/years.

Generally, the rates are not fixed.

There are other fees are also associated with the two wheeler loan

  1. processing fee
  2. Document charges
  3. Foreclosure charges

Documentation

Identity proof

You can have any one of the below.

(Voter ID card/ ration card/Aadhaar card/ PAN card/ passport/ driving license/rental agreement)

proof of residence

Anyone of the below is valid as a proof of identity.

(Voter ID card/ ration card/Aadhaar card/ PAN card/ passport/ driving license/rental agreement/electricity and water bills of last three months on the name of the applicant.)

proof of income

(salary slips of last three months/ ITR of last two years)

Two passports sized colored photographs.

Steps to Apply

  1. First of all search for www.bookmyloans.in on google.
  2. After that search for two wheeler loan on the website.
  3. Furthermore, fill the online application form.
  4. You will get a call back after that, so fill your contact number properly.
  5. If you want more information you may call on 60011600. This a tollfree number.

Other Banks to Apply for a two wheeler Loan

  1. HDFC Bank
  2. ICICI Bank
  3. Yes Bank
  4. SBI Bank