Flexibility and Convenience of Two wheeler loans

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In today’s world almost anything can be bought using a loan. Be it a car or a motorbike or a house, the bank provides loan to the people to help them purchase it. Convenience is the key to everything. Thus, after you take a loan from the bank, all you need to do is to pay back the bank on an EMI basis, which reduces the burden of a one-time payment.

So if you are finding it difficult to arrange funds to obtain your dream bike, all you need to do is to opt for hassle-free two wheeler loan benefits. There are secured loans which can be taken by placing an asset for security, and this way even the lenders keep their money charges very low, making these loans comparatively cheaper. Loans for two wheelers can range from secured to unsecured and long-term to short-term with several different offers and additional bonuses.

There are several features and benefits in availing a two wheeler loan. With a reputed company, you will have a quick and efficient approval of your loan. Some even provide a special interest rate of 0.5% for women customers! The repayment options are also flexible and rage from 12 to 18 to 24 months.

In order to avail the loan, you need to have simple documentation in place. Your IT returns & income proof, a set of Know-Your-Customer (KYC) documents, and a PDC and Security cheque is just about all you need. Documents, however, differ from company to company but are usually not a complicated list of documents. Banks nowadays even offer brilliant interest rates starting from 13.5% and can go all the way up to 16.75%!

You also need to provide basic information about yourself while availing a two wheeler loan. The information includes: your name, residential address, phone number, vehicle model, loan amount required, and tenure which can go up to a maximum of two years.

Other benefits of a two wheeler loan are the following:

  • You can repay the loan through post-dated cheques with easy EMI’s.
  • With EMI calculators available online, you will also know exactly what kind of an EMI you’re looking at paying.
  • These loans are hassle free in the sense that there is no guarantor needed for availing such loans.
  • Usually the loan approval takes about 48 hours, thus you don’t need to wait for long to get the loan sanctioned.
  • Some two wheeler loans even have fantastic introductory offers which offer free gifts from time to time.

Two Wheeler Loans - Today, there is a fine line between luxury and necessity. Everybody seems to want the best of everything and will settle for nothing less. Everybody now wants to own a vehicle of their own, be it a Two Wheeler or a Four Wheeler.

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