Two Wheeler Loan : No More Mistakes

Author : negipriya998
Publish Date : 2021-03-04 04:00:36
 Two Wheeler Loan : No More Mistakes

The demand for two-wheelers has increased substantially. It has proven to help people not just to commute easily or avoid traffic in crowded cities to reach work on-time but also, assist in securing a livelihood. 

If you are someone who wants to explore two wheeler loans and seek the best interest rate then Muthoot Capital has made it easy and seamless for you with 2 wheeler loan interest rate starting at 0.99% pa and maximum payment tenure of 48 months. 

Reasons to choose Muthoot Capital 

  • Muthoot Capital provides up to 100% loan on-road price of the vehicle. However, the percentage of the loan depends on specific models under specific schemes. 

  • There are flexible repayment options available ranging from 12 to 48 months. 

  • Enjoy attractive interest rates starting at 0.99% per annum. 

  • It offers a hassle-free experience by applying online on its website.

  • Choose from down payment options that best suits your financial requirement with a bike loan EMI calculator. 

  • Follow an easy and simple documentation process and get your loan approved real quick. 

  • Seamlessly pay EMI through Muthoot Capital’s website or android application.  

Eligibility Criteria 

There are a few conditions that you have to fulfill in order to get the loan and enjoy the best 2 wheeler loan interest rate available. 

  1. You must be 18 years old or above when applying for two wheeler loans and under 65 years of age at the end of tenure. 

  2. You need to be a salaried or self-employed person to get a two-wheeler, scooter or motorcycle, loan.

  3. You must show a minimum salary of Rs. 96000 per anum or must have a business income of Rs. 120,000 annually. 

  4. Furnishing mandatory KYC documents are required to apply for two wheeler loans.

Different elements of a two-wheeler loan

Here are certain elements involved in acquiring a loan against a two-wheeler to help you understand the process.  

  • The amount paid out for a certain tenure is known as the principal amount. 

  • The interest rate is payable on the principal amount disbursed by Muthoot Capital. 

  • The principal amount along with the decided interest rate is repaid on Equated Monthly Instalments (EMI).  

Steps to follow when applying for two wheeler loans online

You can apply for a bike or scooter loan by visiting one of the branches of Muthoot Fincorp, but to ensure a hassle-free experience, it can be done online with just a few clicks. 

  1. Visit Muthoot Capital’s website and click on the bike loan EMI calculator to explore your eligibility and options. Mention the amount of loan you need and choose a down payment tenure from 12 to 48 months. 

  2. Fill the application form correctly. It is imperative to fill the form correctly to avoid a time-consuming experience. In case, you still find difficulty, you can always contact one of our customer care representatives to assist you. 

  3. Submit KYC documents that include valid identity, address, income, and asset proof along with a recent passport size photograph. 

  4. If you find yourself ineligible then find a guarantor or a co-applicant to increases the chances of loan approval. 

Apply for Muthoot Capital’s two-wheeler loan services and enjoy up to 100% of the on-road price of your favorite bike with the best available interest rate, and payback at your own convenience. 

Category : business

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