Two-wheeler loans in Gurugram

Gurgaon is the Millennium City and an IT hub in Haryana, India. It is renamed as Gurugram—meaning village of the spiritual teacher—the city is a melting pot of dreams and culture. From its historical roots to its booming IT culture, Gurugram has much to offer. 

Having 36 shopping malls and high-rise buildings, the real estate industry is flourishing in the city. With the well-developed transport system, Gurgaon acts as a major city generating revenues in automobiles, outsourcing, and the IT industry.

Having your own two-wheeler to navigate quickly through the Gurugram traffic is certainly a blessing in today’s difficult time. You can reach faster, be more productive and also get more done with all the extra time you save. Gurugram banks and NBFCs provide two-wheeler loans with the lowest EMIs.  to self-employed individuals also under no income proof. 

Features of Two-wheeler loans in Gurgaon

  • Quick Approval
  • Minimal Documentation
  • Avail Loan up to 95% of the on-road price of scooter/bike.
  • Flexible loan tenure ranging from 12 months to 36 months
  • Easy Repayment
  • Attractive Interest Rate
  • Road Side Assistance

The eligibility criteria to apply for Two-wheeler loans in Gurgaon

  • The minimum age to apply for two-wheeler loans is 21 years and the maximum is 65 years.
  • Must be a resident of India.
  • Must have a good credit score which is 750, or above.
  • The annual income requirement for a two-wheeler loan in Gurgaon in most banks and NBFCs is 50,000 per month.
  • The maximum tenure offers by banks and NBFCs are 12 months to 60 months.

The documents required to apply for Two-wheeler loans in Gurugram

  • Completed loan application
  • 3 Passport size photographs
  • Statement of Bank Account/ Pass Book for last six months
  • Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill)
  • Proof of identity (photocopies of Voters ID card/ Passport/ Driving license/ IT PAN card)
  • IT returns for the three years for self-employed professionals
  • Form 16/IT returns for the last two financial years for salaried employees

Two-wheeler loan interest rates in Gurugram

Axis Bank
Starts from 10.50%
Bajaj FinServBased on the borrower’s credit profile
Bank of Barodaone-year MCLR + strategic premium + 4.00%
HDFC BankStarts from 10.50%
Hero FinCorpBased on the borrower’s credit profile
IndusInd BankStarts at 8.50%
Mahindra FinanceStarts from 10%
Muthoot Capital11% onwards
State bank of India
Tata CapitalStarts at 10%
Shriram City Union Finance
ICICI BankStarts from 10.50%
L&T FinanceInterest rate starting from 10.75%
Punjab National Bank
Starts from MCLR+3.25%
TVS Credit
10.65% to 29%

The easiest modes to apply for two-wheeler loans in Gurugram 

The dealer

Most showroom owners or two-wheeler dealers have collaborated with the best of NBFCs and Banks to make the process of applying for two-wheeler loans in Gurugram hassle-free.

Bike manufacturer

Bike manufacturers like Hero and Bajaj have their own lending services through which they provide loans for their customers at competitive interest rates

Bank/NBFC website

Online there are many lenders available including banks and NBFCs, with whom one can apply for Two-wheeler loans in Gurugram. You will need to fill up the required details like address proof, Income proof, and identity proof as asked on the website. A bank/NBFC representative will come to your home to collect the necessary documents. The loan amount will be disbursed after document verification. This is the best way to get an instant eligibility check.

How to apply for Two-wheeler loans in Gurugram

  • Log on to the website of banks or NBFCs where you are willing to apply for two-wheeler loans in Gurugram.
  • Click on the’ Two-wheeler loan application’.
  • Once the application opens, fill in your name, email address, and phone number.
  • You will receive a one-time password on your phone. Fill out the OTP on the form.
  • You will then be requested to choose your preferred brand, click continue.
  • Choose the state you reside in and once again, click continue.
  • On the next screen, use the slider to fill in the income details and the loan amount you require.
  • Post fill in the application, you will receive a call from a representative who will assist you in getting the best of two-wheeler loan offers.