Boost Your Savings and Other Benefits of a Two-Wheeler Loan

Two Wheeler Loans

A two-wheeler loan is an easy way of bringing home your dream bike. It can help you purchase your dream bike on easy monthly installments while building your CIBIL score. If you want to apply for a two-wheeler loan but you are not sure about its positives, read on. Following are some of the key benefits of two-wheeler finance that make it worth it. 

Saves the Savings

When you apply for bike finance, you are needed to make a minimal down payment and the rest of the amount needs to be paid in monthly installments. This means, you do not have to pay the price in full and your savings remain in the bank. This way, you get to own your favorite bike and have money in your savings account that you can use for other purpose. 

Improves CIBIL Score

CIBIL score is the measure of your creditworthiness. This number is for lenders to verify before your loan amount is disbursed. A low CIBIL score indicates that you have defaulted on a previous loan and the lender may either reject your application or increase your bike loan interest rate. When you apply for a two-wheeler loan and pay it on time according to the two-wheeler loan interest rate, your CIBIL score improves automatically. 

Provides Low Interest Rates

Since there is too much competition in the two-wheeler loan market, every lender tries to offer the lowest interest rate for a bike loan. This aspect works in your favor because you receive cheaper interest rates making it easy for you to save money in the long run. At Muthoot Capital, you get one of the lowest two-wheeler loan interest rates. You can calculate your interest rate using the bike loan EMI calculator on the Muthoot Capital website. 

Quick Paperwork

The process of applying for a bike loan is swift and easy. You will have to present minimal documents and the loan can be processed in just one visit. 2-wheeler loans are also available online. You just have to fill in your details and provide important documents like ID proof, address proof, etc. the  eligibility criteria for a two-wheeler loan is simple and almost everyone is eligible for quick bike finance. 

Bike Ownership at your Terms

Last but not the least, a two-wheeler loan makes it possible for you to bring home your favorite bike. If not for a loan, you will have to save money to pay for the bike in full or you might have to dig into your savings, which might not be possible along with other financial obligations.

A bike loan simplifies the finances and helps you achieve your dream without any financial distress or a deep gash on your savings. 

Bike Finance at Muthoot Capital

Muthoot Capital offers up to 100% of the vehicle’s on-road price as bike finance. Its two-wheeler loan interest rates start at as low as 0.99% per annum. The loan disbursement process is also simple and has been designed to help you get a loan in just a few minutes. 

Muthoot Capital tops its low-interest rates with easy EMIs, flexible tenures, and easy processing. Muthoot Capital offers quick approvals and disbursements with minimal paperwork. You can visit our official website for your two-wheeler finance or you can get in touch with a Muthoot representative at the vehicle dealership. 

Our customer care executives can help you calculate your loan amount, monthly EMI, and other details with our bike loan EMI calculator. They will also help you with paperwork and other formalities to ease the process. 

For those who have no time for bank visits, Muthoot FinCorp has created the Muthoot Capital App. You can use it to pay monthly EMIs, get updates on your loan accounts, get in touch with a customer care executive, and stay updated with the brand’s latest products. 

Eligibility for Muthoot Capital’s Two-Wheeler Loan

1. You have to self-employed salaried

2. You must be 18 years and above at the time of loan application or you must be under 65 at the time of loan repayment

3. You must have a minimum salary of Rs. 96000 or your business incomes must be a minimum of Rs. 1,20,000 annually. 

4. You should have KYC documents for identity verification. 

Do you have more queries about Muthoot Capital’s two-wheeler loan? We will love to answer all your queries and help you sort out your financial woes. You can get in touch with us through WhatsApp or phone. Our contact number is ‘1800 102 1616’. You can also request a call back by filling a simple form on the Muthoot Capital website.