Two Wheeler Loan in Hyderabad

Two Wheeler Loan in Hyderabad

Hyderabad is a city of India. Hyderabad is a capital of Telangana state. Like other loans, two wheeler loan is also available online in Hyderabad. Visit www.bookmyloans.in to apply for a two wheeler loan.

Two-wheeler Loan

Like other loans, two-wheeler loan also gives us a financial aid but this time this aid is only to buy a two-wheeler. The loan comes under the secured loans. The loan has very low and reasonable rates of interest.

Eligibility

  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.

  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. 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.

 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

Among all the above the HDFC Bank is best for providing two-wheeler loan. the rates of interest are very low in HDFC Bank as compare to other banks.

An easy way to Apply

  1. You just have to search www.bookmyloans.in  online on goggle.
  2. After that, fill the application form online.