Apply Two-Wheeler Loan

Why Take A Two-Wheeler Loan To Buy Your Dream Bike?

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Are you planning to buy that latest bike model? With the increasing traffic on the roads, a two-wheeler can be the most convenient mode of transport. However, buying one can dig quite a large hole in your pockets.

However, you have no reason to worry. A two wheeler loan can help you buy your dream bike. You can take your bike home immediately, and repay your loan in easy instalments.

Reasons To Take A Two-Wheeler Loan

  • It Covers Your Financial Burden

Well, you can buy your dream bike with your savings. But then you might have to cut down on other expenses. So, taking a bike loan will avoid any sudden strain on your finances.

  • Flexible Repayment Options

You do not have to repay all the money at once. It allows you to choose a term accordingly. The repayment tenure varies from 1 to 5 years.

  • You Do Not Need Collateral 

Bike loans are personal loans. So, they are unsecured. You do not have to worry about placing your valuable property at risk. Your lender will only ask for your documents and a good credit score.

Do not forget to check the two-wheeler loan interest rates before applying. It will help you get lower rates.

Final Word

Thus, taking a bike loan can move you closer to your dream of buying a two-wheeler. Fullerton India offers bike loans at affordable rates. You can get the loan instantly with minimum documents. Are you still waiting? Go and grab your dream bike now.

Must Read: 5 Factors That Affect Your Bike Loan EMI

Top 5 Tips to Make the Right Choice and Choose the Best Two-Wheeler Loan in India

Commuting to and fro a workplace is a necessity for most Indians. A two-wheeler helps in bypassing the traffic and making the commute faster for a lot of people, but not everyone in the country can afford to purchase a two-wheeler without bike finance.

You can avail a two-wheeler loan online in a few simple steps. Listed are five essential tips that will help you choose the right lender for your two-wheeler loan.

1. Check your eligibility:

Go to your lender’s website and check your two-wheeler loan eligibility to ensure that your loan application will get approved. If you fulfil all the criteria mentioned on their website, then you are more likely to get approval.

2. Credit required:

Every lender has their minimum and maximum limits on the amount of loan. You can avail up to 80% of the price of your two-wheeler through bike finance.

3. Special offers:

Look out for seasonal offers by different lenders. At times, you might be able to avail the two wheeler loan at lower interest rates. You can check a two-wheeler loan EMI calculator to understand your interest liabilities.

4. Prepayment options:

Many lenders allow you to make prepayments or increase your EMI amount if you have extra cash flow. It can help you reduce the overall interest that you have to pay on loan.

5. Convenience:

As more people are seeking bike finance, many lenders have made it possible to avail a loan through an online application. Apply with a lender who provides quick disbursal.

Conclusion:

Getting a two-wheeler loan is easy, and you can apply for it online through your lender’s website or mobile application. Ensure to check your liabilities using a two-wheeler loan EMI calculator before applying for a two-wheeler loan.

Must Read: Can I claim tax exemption on two-wheeler loans?