Two wheeler loans in Jaipur
Jaipur is also known as the pink city of India, one of the most popular tourists destinations in India, attracting people all over the world. Additionally, the city is known for its gemstone cutting, manufacturing of jewelry, and luxury textiles. With the recently established commercial centers and IT parks, Jaipur is opted by many people for education or business purposes. If you are looking for 2-wheeler loans in Jaipur to get that dream bike to ride, then read on.
Features and benefits of Two-wheeler loans in Jaipur
- Two-wheeler loans are easier to apply and easier to pay off. The tenure of repayment offered up to 5 years.
- The resale value of motorcycles is high. When you repay the loan, you can even purchase a new bike easily in exchange for the old bike.
- When paid off consistently affects your credit score positively and helps you build a credit profile.
- Some banks also provide zero down payment bike loans, where you don’t have to put up your own money to buy the bike.
- The loan processing fees will be 1% to 3% of the loan amount.
- Minimum paperwork.
The eligibility criteria to apply for Two-wheeler loans in Jaipur
- 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 Jaipur
- 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 Jaipur
Axis Bank
| Starts from 10.50%
|
| Bajaj FinServ | Based on the borrower’s credit profile
|
| Bank of Baroda | one-year MCLR + strategic premium + 4.00%
|
| HDFC Bank | Starts from 10.50%
|
| Hero FinCorp | Based on the borrower’s credit profile
|
| IndusInd Bank | Starts at 8.50%
|
| Mahindra Finance | Starts from 10%
|
| Muthoot Capital | 11% onwards
|
State bank of India
| 17.20%
|
| Tata Capital | Starts at 10%
|
Shriram City Union Finance
| MCLR+3.25%
|
| ICICI Bank | Starts from 10.50%
|
| L&T Finance | Interest 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 Jaipur
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 Jaipur 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 Jaipur
- Log on to the website of banks or NBFCs where you are willing to apply for two-wheeler loans in Jaipur
- 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.
