Why Is Two Wheeler Loan Trending In India?

By Author: Neha Sharma
Total Articles: 170
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Travelling in India is a very hectic and long process due to the traffic and the numbers of public and private vehicles on the roads. A two wheeler is an ideal way to travel the roads of India, and the best way to get a two wheeler, is to apply for a two wheeler loan. Here are some of the reasons why the two wheeler loan is trending in India.

Attractive Interest rates

The value of two wheelers in India can be anywhere between Rs. 50,000 to Rs. 1.5 lakhs, depending on the type of two wheeler the applicant has applied for. If this can be a large amount to finance, banks and financial institutes are ready to help you out financially with a two wheeler loan with attractive interest rates. Normally, the interest rates are anywhere between 13.5 to 16.75% and varies from organization to organization. Using a two wheeler loan EMI calculator, one can find out the most suitable interest rates.

Speedy loan application

The benefits of a two wheeler loan include a hassle free, affordable and speedy approval process. The documents that need to be submitted include proof of earnings, proof of age and proof ...
... of residence. The documents for these criteria are easy to procure. The loan approval process takes around anywhere between 4 to 6 hours depending on the organization you apply at.

Fast repayment

Each banking institute offers different repayment tenures keeping in mind the needs of the clients. Normally the two wheeler loan EMI calculator can be used to calculate the right EMI that is convenient to the customer. He can repay the amount through ECS mode, via post dated checks or through the online fund transfer. The normal tenure of repayment is anywhere between 12 months to 36 months. This can be very flexible time, with good interest rates and low EMIs.

Special package offers

Many institutes offer different packages and offers, especially during festivals and auspicious times in India. These special packages can include attractive interest rates too, along with longer tenure periods of repayment and special loans and interest rates for women. Use the two wheeler loan EMI calculator if the offered rate suits you, and save a lot in the long run. During special occasions and festivals you will get lucrative offers on the two wheelers themselves, which can even benefit those earning a minimum wage or even a single wage earner in the family. So, make the most of it and get the best possible offer.

Author Bio :- Neha Sharma is a finance student who loves to write about two-wheeler loan, car loans and more. She is delighted to share information she knows about two wheeler loan EMI calculator, interest rates and more with the interested potential borrowers.