Canara Bank Two Wheeler Loan

Canara Bank Two Wheeler Loan

Canara Bank is one of the most popular financial organizations in India. It is a public sector bank and it is owned by the government of India.  Headquarter of Canara Bank is in Bengaluru. This bank is founded in 1906.  This is reliable for people because it is serving the people for a long time. It provides lots of financial products like banking, insurance, and loans like education loan, personal loan, car loan, and two wheeler loans.  Canara Bank Two wheeler Loan is unexpectedly popular among people because of its cheap rates of interest.

What is a two-wheeler Loan?

Nowadays having a medium of conveyance is a need. Sometimes we have a shortage of funds to meet this requirement, so there is no need to worry about. You can have a two wheeler loan, Bank of Maharashtra provides two-wheeler loan to the customers. you can buy any two-wheeler according to your comforts and pay the EMI’s. this is easiest and most convenient way to buy a two-wheeler.

Eligibility

  1. Citizenship

One more important thing is that the applicant should be a citizen of India. He/she should be residing in India as well. If it is not so then he/she isn’t eligible to get a two-wheeler loan.

  1. Income

It is obvious that if someone is lending you the money then he/she will put some checks on your income as well, to check whether you are eligible to repay the loan amount or not. If you don’t have any source of income then you are not eligible to get a two-wheeler loan.

  1. Age

Age is the major factor that banks check while providing you a two-wheeler loan. Bank or any other lender checks that whether the age of the applicant is more than21 years or not. If it is not so you won’t get a two-wheeler loan.

Rates of Interest

Basically, the interest rates are 11.50% and onwards, but the rates can vary from time to time.

Documents Required

  1. First of all 2 colored d photographs. (without glasses)
  2. Identity Proof

One identity proof is necessary. This identity proof can be an Aadhaar card /PAN card/voter ID card/Ration Card / Driving Licence/ Passport)

  1. Resident Proof

The bank will ask for a proof of residence, it is mandatory. 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 needed if you want to apply for a two wheeler loan. (Salary slips of last three months / ITR of last three years for self-employed).

Major Banks Providing Two-wheeler Loans

  1. HDFC Bank
  2. ICICI Bank
  3. YES Bank
  4. PNB Bank

 

An easy way to Apply

  1. You just have to search www.bookmyloans.in  online on google.
  2. After that search for Two Wheeler Loan.
  3. An application form will open up.
  4. Fill the application form.