Everything You Need to Know About Applying for a Two-Wheeler Loan Online
It’s high time you learn about two-wheeler loans and bike loan EMI calculator online if you have always dreamt of owning and riding a bike but resisted doing so owing to a shortage of funds. Curated to help you realise your aspirations, these bike loans are easy to secure.
This guide will provide you with vital information you will require to cc. Continue reading to learn more about the structure and procedure of different bike financing options.
Two-wheeler Loan: Exploring the Meaning
A two-wheeler loan is an effective financial product that helps you buy a bike of your choice within your budget constraints at competitive interest rates. You can repay the credit in Equated Monthly Instalments (EMIs), making it extremely convenient to buy your dream two-wheeler.
Embracing the Digital Era
Some financial institutions like Bajaj Auto Finance go beyond traditional financing by utilising advanced digital technology to enhance the two-wheeler loan experience of borrowers. You can easily make an online bike loan application and start your journey of owning a bike with just a few clicks. You just need to fill out the application form and ensure you meet the eligibility criteria.
Learn to Apply for a Bike Loan Online
Let’s take the example of the Bajaj Auto Finance website. Now, complete the following steps to apply for a wheeler loan online:
- Visit the official Bajaj Auto Finance website and look for the ‘Apply now’ option on your favourite bike category.
- An online application form will open up. Carefully read the instructions on the form page and fill in all the basic details, including name, city, bike model, etc. You might need to share other relevant personal details as well.
- Further, the eligibility calculator will help determine your eligibility for the loan. Keep your KYC documents ready while filling out the form. Upload them when asked on the website.
- After verification of your details and documents, your bike loan may get approved within 24 hours.
- However, it will be convenient for you to make all the necessary calculations in advance using the Bike Loan EMI Calculator Online.
The steps for applying for an online two-wheeler loan may vary depending on the platform.
Eligibility Criteria for a Bajaj Auto Finance Two-Wheeler Loan
Before you make an online bike loan request, check your eligibility with the help of the following criteria:
- Age: Applicants should be between 18 and 65 years old during application.
- Income: A steady source of income is required, meeting specific minimum income criteria.
- Employment: Both salaried and self-employed individuals are eligible.
- Residential Stability: Applicants must have lived at the same address for at least one year.
- Loan Commitments: Declare all pre-existing loan commitments.
- CIBIL Score: Applicant must possess a decent CIBIL score rating.
Documents Required for a Two-Wheeler Loan
- Proof of Identity: Aadhar card, Passport, Driving license
- Proof of Address: Utility bills (electricity, water, gas), Rental agreement, Passport
- Proof of Income: Salary slips for salaried individuals and income tax returns for self-employed individuals.
Exciting Features of Bajaj Auto Finance Two-Wheeler Loan
Bajaj Auto Finance sets itself apart with exciting features that enhance the loan experience:
- You can avail of loans starting from INR 9999 up to 20 lakh.
- It is comparatively easy for new customers to get loans.
- Get Up to 100% financing on the on-road price of the bike (T&Cs apply).
- Quick and easy application process with a single form.
- Disbursal of the loan amount within 24 hours of approval.
- Minimal documentation process with no field or Tele verification.
- Get access to all information regarding fees with maximum transparency.
- Availability of Bike Loan EMI Calculator Online for ease of decision making.
Tenure and Loan Amount
Bajaj Auto Finance offers a flexible tenure of 3 to 60 months, allowing you to choose a repayment period that suits your financial preferences. The maximum loan amount depends on your eligibility, with up to 100% financing available. The annual interest rate may go up to 36%, completely based on the tenure chosen by the applicant and the amount applied for.
You can use the Bike Loan EMI Calculator Online to estimate your monthly instalments based on your loan amount, interest rate, and tenure. This tool provides a clear understanding of your financial commitment.
Before availing of a two-wheeler loan from a reputed lender like Bajaj Auto Finance, thoroughly review the steps, eligibility criteria, and required documents outlined in this article. The procedure is quite straightforward and helps you apply for bike loan easily. Keep all the necessary documents handy while filling out and submitting the loan application form. Lenders are keen on making your dreams concerning owning a bike come true. So, hit the apply for loan button today.Tags: apply for bike loan, Bike Loan, Bike Loan EMI Calculator, Bike Loan EMI Calculator Online, Two-Wheeler Loan