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Applying For A Loan Over A Direct Two Wheeler Purchase

By Author: investmentideas
Total Articles: 1

If you are newly employed and are in dire need of a bike, consider applying for a two wheeler loan without affecting your monthly expenses. For a majority of Indians, owning a two wheeler is a necessity. Purchasing a two-wheeler should not burn a hole in your pocket anymore. You can apply for a loan and enjoy the benefits of having an unsecured loan which can help you with the finances.

Here are a few benefits of applying for a bike loan -

1. No Financial Dilemma

Loans allow you to repay a lump sum amount of money through easy monthly installments. Instead of burning a hole in your pocket in one go, you can choose to repay the amount as per your convenience over an extended period.

2. Helps your CIBIL Score

Loans that involve a considerable amount of money like a home loan, car loan, or a personal loan require a good CIBIL score. CIBIL or Credit Scores are a summary of your history in loan credits and repayments over a period of time. The cost of buying a two-wheeler is less, which makes it the easiest of all the loans to be paid off.

3. Good Interest Rates

With the increase in the number of commuters who wish to travel quickly, safely and efficiently, the demand for two wheelers has gone up tremendously. If you take a two wheeler loan from Indiabulls Dhani, it entirely belongs to you the moment you purchase it. The bike loan interest rate they provide starts at 11.99%.

4. Flexible Repayment

Two wheeler loans can be maintained as per your financial suitability. You can now apply for an instant personal loan at Indiabulls Dhani from the comfort of your home and waive off tedious banking procedures. This allows you to reap the most of two wheeler loan benefits as per your convenience.

5. Avail Extra Benefits

According to the Indian Motor Act, Two wheeler loans are sanctioned with an insurance cover of the vehicle and an accidental cover for you. This loan can also help in covering additional costs while making bike purchases like accessories or alternate seating options.

6. No Prepayment Charges

Some banks tend to fix the repayment tenure of your two wheeler loan. When you choose to pay off the loan before the end of this tenure, you might be levied a prepayment charge. Prepayment charges allow your lender to nullify its monthly interest loss. Many banks and lenders charge a prepayment fee but, Indiabulls Dhani does not charge you any prepayment fee till ₹ 20,000.

Now with Indiabulls Dhani, you can instantly check your two-wheeler loan EMI by using their flexible online bike loan EMI calculator. It helps you to calculate and plan your borrowings and payments as per your requirements. All these above reasons prove that taking a personal loan to buy a bike is a significant financial step. Thus, when you consider buying a new two wheeler, you should preferably choose a two wheeler loan.

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