In today’s day and age, a two wheeler is an important commodity in one’s life. With the growing hassle of commuting in the city, a two wheeler acts like a boon. You can venture out to buy groceries, pay an urgent visit to the bank to get cash or go on a short road trip. A two wheeler can serve many purposes and make your life easier. Here are some advantages of owning a two wheeler:
- Easy to manage in traffic as compared to cars
- Better mileage
- Lesser pollution
- Cheaper maintenance
- Good resale value
- Easy to park
You can now purchase your bike by availing a bike loan. You can take a bike loan or a two wheeler loan and finance your bike or scooter if it is out of your budget. Following are the things you should keep in mind while applying for a two wheeler loan.
1. Research the interest rates
Two wheeler loan interest rates are affordable to even a low-income group applicant. You need to research what kind of interest rates are the lenders offering.
2. Check the eligibility criteria
Every lender will have a set of eligibility criteria which you should meet when you apply for a loan. Make sure you check the criteria and apply accordingly.
3. Select the right lender
Selecting the right lender is of primary importance. A lender will help you out through the entire loan availing process. Hence you need a lender who is trustworthy and provides you with competitive interest rates. Make sure that the offer has no hidden charges.
4. Ensure the right documentation
The documents required for the application need to be updated and duly signed. Check the documents required from the lender itself prior to application.
5. Calculate the loan EMIs
Once you know the cost of your bike you can calculate the bike loan EMI using an EMI calculator. A bike loan EMI calculator helps you get an estimate of your EMIs and help you manage your budget efficiently.
Two Wheeler Loans at Indiabulls Dhani
At Indiabulls Dhani, you can now avail a loan instantly to purchase your two wheeler. You can visit our website or the mobile app to apply for the loan. The loan gets approved on the spot and the amount gets disbursed in minutes. There is no physical paperwork. All you need to do is upload the required documents online.
To be eligible for the loan, you need to be an Indian resident aged 21 years and above. You should be a salaried professional or self-employed entrepreneur.
The two wheeler loan interest rate start at 11.99%. We do not keep your two wheeler as collateral with us. Our bike loan tenure and EMIs are flexible. You can choose them as per your needs.
Avail a loan from Indiabulls Dhani and finance your two wheeler without any stress.