Two-Wheeler Loan For The Used Vehicle
A two-wheeler is an excellent alternative to congested public transit and long traffic jams. This might be the cause for India's two-wheeler market's rapid expansion. Bikes and scooters can easily transport you to and from work or on a holiday. However, it cannot be disputed that purchasing a two-wheeler may put a significant difference in one's wallet. In that situation, a used two-wheeler may be a better alternative for people on a budget or who do not want to spend a lot of money. Your loan eligibility is determined by the dealer based on your credit score and reports. With the aid of a two-wheeler loan, purchasing a used two-wheeler becomes much easier. Many of the country's top lending companies are now offering appealing used bike loans. Here we have the Axis Bank Two-wheeler loan to bring about some features in the used vehicle loan to make it extra simple to purchase. Nothing compares to the excitement of having your vehicle. Let’s explore some of those.
Loan Amount
Banks now provide loans for both new and secondhand bikes. After validating the secondhand bike you wish to buy, they will give you a loan amount. A used two-wheeler loan might be worth up to ten lakh rupees. Keep in mind, however, that the loan amount is determined by the worth of the two-wheeler.
Interest Rate
Interest rate is something every individual matters when buying a new bike or a used one. Second-hand bike loans have interest rates starting at 11.60 %. The interest rate on a two-wheeler loan varies depending on the lender. Axis Bank offers second-hand bike financing through direct dealer loans. Your loan eligibility is determined by the dealer based on your credit score and reports.
Tenure for the payment
To be eligible for a Two-wheeler loan an individual must be at least 18 years old but not more than 65 years old. Two-wheeler loans typically have a maximum term of five years. You can however choose your preferred tenure. The term will be longer if you choose a lower EMI, and vice versa.
Document submission
You can get an easy loan from Axis Bank by submitting some necessary documents such as identity proof, such as a driving license, aadhar card, PAN card, voter ID, etc., address proof, bank statement, and other documents for verifying your employment status and other things that are required before the loan is accepted.
Before making any purchase, it is critical to know your budget. The same is true with loans. You should apply for a loan with low monthly payments. The bike you want may put a significant financial strain on your shoulders. Make a budget based on your needs and stick to it to guarantee you don't wind up buying something you can't afford. Axis Bank extends its hands to make your every possible dream easy and hassle-free. Even if you decide to buy a used vehicle from Axis Bank, they offer special deals for their existing customers and customers can grab this exclusive deal for themselves. They provide loans both offline and online. You may either go to their nearest branch or visit their official website.
Conclusion
Go to the nearest branch of Axis bank and avail the best deals for your Two-wheeler loan. Nothing compares to the excitement of having your vehicle. They will finance up to 100% of the cost of your new motorbike or scooter. You may now apply for a motorbike loan with a two-wheeler-loan/yes-bank-two-wheeler-loan Yes Bank two-wheeler loan and get on the road faster.