Two-wheelers are much appreciated and needed everywhere, from huge cities to small towns. Over time, two-wheelers have become more affordable to the general public.

Traditionally, two-wheelers were financed when the borrowers paid some amount as a down payment. However, now borrowers can get zero down payment and no-cost EMI bikes. 

Zero down payment bike loan is where the lender lends the borrower 100% of the on-road two-wheeler’s price. There will be no down payment required aside from the processing charge.

The lender will charge a two-wheeler interest rate on the loan with some amount of principal payments in form of EMIs.  

However, to avail of such a loan, the borrower will have to fulfil the eligibility criteria:

• A person must be at least 18 years old at the time of applying for the loan and no more than 65 years old at the end of the loan’s tenure. 
• Borrowers must be Indian residents and should have spent at least one year in the city.
• Borrowers also need to have at least one year of work experience. 

A few documents to be provided are:

• Identity, address, and income proof
• ITR’s most recent version (for self-employed individuals), etc. 

To know more about the documents required, click here. 

Individuals can contact the lender’s representative for additional information on the zero down payment bike loan. 

The lender will then require the appropriate documentation and an application form. The loan application will be approved once the verification process is completed.

With Fullerton India, you can get a zero-down payment bike loan. The process is digital with fast approval, minimum documentation, attractive interest rates, and flexible repayment tenures. 

Further, you can calculate the EMI payments through the two-wheeler EMI calculator to know the loan’s affordability.

Must Read: Is No Cost EMI Available on Bike Loan?