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All you need to know about 2 Wheeler loan financing

2019-04-09 Finance No comment

With the increase in demand in semi-urban and rural areas, the 2-wheeler industry is a high-growth industry. The industry is estimated at Rs 6,000,000, equivalent to Rs 7,000 crore. This means that 2 Wheeler Financial has plenty of opportunities. In the past days, the awareness of financing for 2-wheelers was limited, but with the increasing popularity of financial institutions across the country, it is possible to obtain 2-wheeler financing quickly and easily.

Getting 2 Wheeler loan financing has become easy. Eligibility criteria, documentation requirements and processes are mentioned below:

qualified:

People over 18 years old.

A paid employee who has been employed for more than one year.

Business owners who have been in business for more than a year.

Document:

personal I.D

proof of address

Proof of income

Valid KYC file

Passport size photo

program:

In order to apply for 2 Wheeler loan financing, applicants need to find a market for various banks and financial institutions that provide loans. According to the terms and conditions of each financial institution, applicants should choose a financial institution that meets their requirements. The application process is fast and transparent. Applicants need to meet the eligibility criteria to apply for a loan. In addition, applicants are required to submit an application form and provide the required documents to financial institutions. The account manager is very friendly and will guide the entire application process. The application will be processed within 48 to 72 hours and the loan will be approved immediately.

It is recommended to seek loans from trusted financial institutions. They offer flexible terms and simple repayment options. With low interest rates and flexible repayment periods, buying a 2-wheeler is quick and easy. Individuals with a good credit history can get loan approvals faster and are eligible for special programs. Once the loan amount has been paid, the term and amount cannot be changed. Therefore, it is important to give the loan a good idea and determine the repayment period based on the applicant's monthly income. The financial institution provides the applicant with a customized solution based on the applicant's requirements. The loan amount will be approved depending on the type of 2 wheeler to be purchased.

Applicants only need to pay a small amount of down payment, and the balance can be converted into 2 Wheeler loans, which will be easily repaid in installments on a monthly basis. Up to 95% of vehicles on the road can be offered to the applicant as a loan with a repayment period of between 12 months and 48 months. As demand for 2-wheelers across the country has increased, banks and financial institutions are providing loans that meet consumer requirements and have resolved these terms accordingly.

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