Kotak bank is one of the most popular banks in India for getting wheeler finance. KMPL may offer up to 100% funding of the on-road price of the vehicle. The tenure offered in two-wheeler loans usually ranges from 12 months to 48 months. The minimum amount one can apply for a two-wheeler is Rs 25000.
Features and benefits of applying for two-wheeler loans from Kotak Bank
Factors that decide the interest rate of Kotak Bank Two-wheeler loans
The interest rate offered on Two-wheeler loans of Kotak bank is based on the bike model. If the model selected by the loan applicants values high rates, then there are chances to get a lower interest rate.
Applicant’s relation with the bank
If you are a Kotak bank salary account holder, the bank itself will offer lower interest rates on your two-wheeler loan.
Applicant’s income
Based on the net monthly income of the applicant, Kotak bank's two-wheeler interest rate is decided. The applicant with higher salary brackets is offered lower interest rates.
Category of the employer-
The salary individuals list of the company categories will be with the KOTAK BANK for which they will avail of bike loans. If the category of the employer is higher, they will get the loan with the low-interest rates.
Kotak Bank Two-wheeler loan eligibility criteria
Salaried individuals
Self- employed
The documents required to apply for two-wheeler loans
How make Kotak Bank Two-Wheeler loan repayment?
If you are applying for a Kotak Bank two-wheeler loan for a new vehicle, you are allowed to repay the loan in a maximum of 60 EMIS, if you applied for a loan for a used-two-wheeler, maximum of 36 EMIs, you can make to repay the loan.
How to apply for a two-wheeler loan with Kotak Bank
To apply for a two-wheeler loan with Kotak bank, you are required to register a two-wheeler loan online either at the third party lender’s platform or direct visit the bank’s website.