Two Wheeler Loans
Two-wheelers have become essential for almost every household in today’s time. With the rising demand in the country, two-wheelers have gained tremendous popularity. Whether it’s the ease of commute or getting away with traffic in the city, two-wheelers are a perfect travel companion. Moreover, COVID-19 has transformed the way we travel forever. If you’re someone who is unable to own a two-wheeler due to financial restrictions, you can always take a 2-wheeler loan and make your dreams come true. Today, bike finance is readily available that can kickstart your vehicle purchase. A two-wheeler loan won’t take a toll on your pocket and can be managed in easy instalments.
Let’s understand the benefits of two-wheeler finance and why it is an ideal choice for you?
Takes off the Financial Burden
Shelling out Rs. 50,000 instantly or paying the same back over time with minimal interest, what sounds more doable to you? A two-wheeler loan from Muthoot Capital can help you overcome your financial challenges and you can pay back the borrowed amount with added ease. A 2-wheeler loan interest rate is pocket-friendly, and the loan also helps your financial profile in many ways.
Boosts CIBIL Score
Unlike home or car loans involving a huge amount of money, two-wheeler loans are easy to payback. Young professionals can leverage this and improve their CIBIL or credit scores. Also, two-wheeler loans are some of the fastest loans to get approved in today’s time. At Muthoot Capital, you can enjoy minimal documentation and get your loan approved real-quick.
Lucrative Interest Rates
With a starting 2-wheeler loan interest rate at 0.99% per annum, Muthoot Capital truly emerges as your companion for the lowest interest rate for bike loan in the Indian market.
With the increasing numbers of commuters wishing to travel, a lower bike loan interest rate enables many like you, to walk-in to the showroom and get your bike at the earliest.
At Muthoot Capital, depending upon the amount of loan, chosen tenure, history of employment & credit record, you can enjoy some of the lowest two-wheeler loan interest rates in the market. Simply enter your details such as Loan Amount, Tenure, and Interest Rate into the two-wheeler loan EMI calculator on our official website and get the quote. Yes, it’s that easy.
Flexible Repayment Schedule
Apart from lower interest rates, you can also leverage flexible repayment schedules. You can get your loan sanctioned and keep the repayment period from anywhere between 12-48 months.
Complete Vehicle Ownership
The moment you make the purchase, you become the sole owner of the vehicle. Muthoot Capital doesn’t hold owner rights and provides customers with complete ownership. If purchasing a bike is on your mind these days, the head to the Muthoot Capital website you can get all the necessary information
Who is Eligible for a Two-wheeler Loan?
Anyone who is above 18 years of age till 65 is eligible for availing of two-wheeler loans. Customers can get loans up to 100% of the vehicle value. Both salaried and non-salaried individuals can apply for a two-wheeler loan. Even if you have an annual income of INR 96,000 or your business crosses an annual profit of INR 1,20,000, you’re eligible for the loan.
Documents Needed for a Two-wheeler loan
Upon successful eligibility, customers can walk into any Muthoot Capital branch with the below-mentioned documents and get their loan approved for good.
1. A national identity proof (Aadhar, Voter ID, Driving License or PAN, etc.)
2. An address proof: (Aadhar, Driving License, Voter ID, Electricity Bill, Gas Connection Bill, Ration Card, Telephone Bill, etc.)
3. Proof of Income: Income Tax Return, Form 16, Pay Slip, Salary Account Statement
4. Asset Proof: House Tax Receipt, Land Records, etc.
A two-wheeler loan gives you the freedom to choose your dream bike. You can keep your money safe for emergency purposes and get your bike financed, and payback in easy and pocket-friendly instalments. To get an estimate on the monthly instalment, one can simply visit Muthoot Capital’s website and use the bike loan EMI calculator. If you’re taking the loan for an electric scooter, you can even enjoy tax benefits under Section 80EEB of the Income Tax Act.
The benefits are endless. To know more, just contact our customer support at 1800 102 1616 or visit our nearest branch and our experts will assist you with the entire process. Looking forward to serving you. Happy Riding!