Two Wheeler loan : Best Bank Comparison with lowest Interest Rates

Eligibility and Documentation for Two Wheeler Loans

First of all lets know about the eligibility and documentation require in most of the bank for Two wheeler loan,

Eligibility-

1. Age of the applicant should be in between 18 to 65.
2. he/she should a salaried,a student profession or a self employed customer
3. The income criteria for loans depend on the type of loan and it is at the discretion of bank.

Documents Required-

1. The applicants have to submit an ID proof and a proof of address.
2. Income documents like ,
   1. bank account statements,
   2. salary slips,
   3. income tax return statements and
   4. certificate of employment is also require.
3. Agriculturists and self-employed people have to submit relevant supporting documents

How to Compare Two Wheeler Interest Rates?

Before deciding to choose which bank is best for two-wheeler loan products you should keep in mind some points listed below.

1. Carefully Compare features and offer for two-wheeler loan products.
2. We can use any online EMI calculator to check if we can afford the loan
3. Compare interest rates for two-wheeler loan for particular bank is floating or fixed and also,.
4. Compare different two-wheeler loan products and check if features like nil-foreclosure charges, insurance and high quantum  offered. Also, You make sure to use a third-party to compare the rates for two-wheeler loans using.

Top Six Banks | Benefits | Specification | Interest Rate

Finally, I am going to give you the brief Idea about the Best Banks to take two wheeler loan with in the count down who gives you the best benefits in Minimum Interest Rate.

Two Wheeler Loan from State Bank of India

SBI is the top bank in India Nowadays because if its carefulness forewords its customers. SBI gives 2 wheeler loans at very chip and affordable interest rates.The Most exclusive feature of SBI Bike loan are-

• It is available to buy any type of two wheeler like scooter, motorbike, moped, battery operated.
• Very affordable with easy EMI.
• Free accidental insurance.
• Maximum 36 month repayment period for loan.

SBI Two Wheeler Loan Interest Rates:

The interest rate of 8.60% above Base Rate i.e. 17.90% per annum. The interest rate is calculated on daily basis reducing balance.

For more details please visit offical site of SBI. 

Two Wheeler Loan from Axis Bank

Axis Bank is one of the leading private sector banks in India.it offers bike loans to customers at affordable Interest rates.The most important features of Axis Bank are-

• no need to provide income proof
• Special schemes for Salary and Priority accounts holders.
• From Rs. 20,000 to Rs. 70,000 loan available.
• 1 Year to 3 years tenure ranged provided.

Axis Bank Two Wheeler Loan Interest Rates:

Axis Bank offers 17% per annum interest of a monthly reducing basis which is extremely affordable.Yes,for two wheeler loan 2% loan amount is charged as the processing fee lent by the bank.

For more details please visit official site of Axis Bank.

Two Wheeler Loan by ICIC Bank

ICIC bank is also having the top position in India in private sectors.This bank provides specific interest rates for Two Wheeler Loans to customer, some of the important factors included are as follows-

1. Customer Profile
2. Customer Relationship
3. Asset Segment
4. Loan Tenure and many more

Two Wheeler Loan Interest Rate Range –

For more details please visit offical sire of ICIC Bank.

Two Wheeler Loan from HDFC

HDFC Bank is also a very Popular because of its services.it offers two wheeler loan at affordable interest rates.

HDFC gives attractive features and benefits like

• Interest rate is 2% lower and processing fees is 50% lower.
• 12 to 48 months repayment options.
• For HDFC account holders up to 100% for specific two wheeler models.
• Practical and easily affordable interest rates.

HDFC Two Wheeler Loan Interest Rates:

For more details please visit official site of HDFC Bank.

Two Wheeler Loans from Punjab National Bank

PNB Bank is also proven the topmost bank in India the growth of this bank is potentially hign. It is also In the Race of Two Wheeler loan because of their affordable rates.

PNB 2 Wheeler Loan Features & Benefits:

For repayment it give us maximum time limit given below:

between 40% and 60% maximum deductions provided that is  of Net monthly salary/ income

• Based on your need the Quantum of Finance that you can receive with the PNB two wheeler loan.

Punjab National Bank Two Wheeler Loan Interest Rate:

• The interest rate if the concerned branch is disbursing the salary and/or under check-off facility will be BR 3.00% for less than 3 years and BR 3.00% TP if 3 years and above.
• For other including Business concern, the interest rate for less than 3 years is BR 4.00% and BR 4.00% TP for 3 years & above.
• For more details please visit offical site of PNB.

Two Wheeler Loans from Bank Of  India(BOI)

Last but not the least BOI bank is also very beneficial for their customers it also gives the lowest interest rate.most important features and benefits are-

• Loan is available for purchasing new or second hand vehicles (not more than 3 years old).
• Max to max 5 years repayment period for a new wheeler.
• For 3 second hand vehicle the maximum repayment period is 3 years.

Bank of India Two Wheeler Loan Interest Rate:

The lending rate for two wheeler loans is Base Rate 4%. This is 13.95% per annum at monthly rate.

For more details please visit official site of BOI.

Now, I hope this article will help you to choose Best Bank for Owning your Dream Bike.