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In India, a two-wheeler is the most popular type of transportation. It is simple to manoeuvre through traffic, takes up less room for parking, and is within the means of the vast majority of people. Yet not everyone has the money to purchase a two-wheeler entirely. This is where a bike loan is beneficial. The several two-wheeler financing options, their benefits and drawbacks, and how to use a loan calculator for a bike are all covered in this article.<br>Read More: https://www.sahilpopli.com/two-wheeler-finance-types-advantages-and-disadvantages-explained/
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Two Wheeler Loan
What is Two Wheeler Loan A two wheeler loan is a type of loan provided by banks or financial institutions for the purchase of a two wheeler. This loan can be availed for both new and used two wheelers. The repayment tenure for this loan is generally between 1 to 5 years and the interest rate varies depending on the lender.
Age: The applicant should be at least 18 years old and not more than 65 years old. Income: The applicant should have a steady source of income, whether salaried or self-employed. Two Wheeler Loan Eligibility Credit score: A good credit score is often a requirement to be eligible for a two-wheeler loan.
Employment status: The applicant should be employed or self-employed for a certain period of time, depending on the lender. Two Wheeler Loan Eligibility Residential address: The applicant should have a permanent address, which is verified by the lender. Required documents: The applicant needs to submit all the required documents such as ID proof, address proof, income proof, and bank statements.
