A two-wheeler loan is the best way to buy your favourite bike without touching your savings. It is the best option to manage your finances when you have no other way. The best part about a two wheeler loan is that you can get up to 100% of the bike’s on-road price as a loan. It means that you can avail of a zero down payment bike loan for yourself, depending on your age, income, and credit history. 

Here are some of the reasons you should opt for a 2 wheeler loan: 

• You can avail of an affordable interest rate, depending on your income, credit score, current financial obligations, etc. Some lenders even offer as low as 1%. 
• It is a great way to reduce the financial burden on your shoulders. Keep in mind to apply for a lower loan amount as it significantly reduces the interest rate. 
• If you make on-time repayments of the loan amount with interest, it will positively reflect on your credit report, increasing your credit score. A healthy credit score ensures approval of loans in the future. 
• There is flexible loan tenure that ranges between 12 to 48 months. So, it allows you to choose a loan tenure based on your needs and preferences. It is worth noting that a longer loan tenure may lower your EMI but increases interest in the long run. 
• A 2  wheeler loan comes with minimum eligibility requirements. You will need to prove that you are within the age bracket set by your lender. You must be either a salaried person in a company or self-employed. Also, you must show a minimum income based on your lender’s policy. 
• You do not need to stand in long queues to apply for a loan. You can access funds to buy your dream bike from the comfort of your home, with just a few clicks on your computer.

Additional Read: Top Benefits of Applying for Bike Loan Online in India