Two Wheeler Loan in Meerut


In a two-wheeler loan, we borrow money from the bank or non-banking financial organization at some rate of interest for a period of time. Under this loan, the bank provides you loan to buy a scooter, bikes, and other two-wheelers. Bank can finance your two-wheeler up to 90% of the ex-showroom value. You have to pay some rates of interest to the bank also. Apply for a two wheeler loan in Meerut online on www.bookmyloans.in .

Category of Two-wheeler Loan

The two-wheeler loan usually comes in the category of secured loan. a secured loan is a kind of loan where you pledge something to the bank as a security. However, you don’t pledge anything from your existing property in a two-wheeler loan but you pledge the two-wheeler to the bank that you are buying. Bank or other lender is completely liable to bound your two-wheeler if you don’t return the loan.

Eligibility

  1. First of all the age of the applicant should be more than 18 years.
  2. After that, the applicant should be a citizen of India.
  3. The applicant should be earning from somewhere.
  4. The maximum age of the applicant can be 65 years.
  5. The monthly income of the applicant should be Rs. 7000 per month for the salaried applicant.
  6. After that, the income of the self-employed person should be Rs. 6000 per month at least.

Rates of Interest

The rates of interest vary from person to person. It usually based on the income of the applicant and on the two-wheeler he/she going to buy and besides that, the tenure of the loan is also a factor in deciding the rate of interest.

Documents

  1. First of all two-passport sized colored photographs. (without spectacles)
  2. One proof of Identity.
  • Aadhar Card
  • PAN Card
  • Voter ID Card
  • Passport
  • Driving License

Anyone of above can be valid.

  1. One proof of residence.
  • Aadhar Card
  • PAN Card
  • Voter ID Card
  • Passport
  • Driving License
  • Ration Card
  • Rental Agreement
  • Water and electricity bills for the last six months

How to apply?

  1. You can easily apply online.
  2. Visit www.bookmyloans.in  on google.