Purchase a Bike Conveniently with a 2 Wheeler Loan in India

by Hero Fincorp Loans and Small Business Financing

Every individual wants to achieve their long term goals and in order to do the same, they need to save and plan their purchases accordingly. The increasing competition amongst financial institutions and the growing awareness in the consumers has made it easier to avail a loan for the purpose of purchasing items of personal use. The loan can be repaid in easy and convenient installments over a long period of time. Purchasing a 2 wheeler in the past was a big deal and required the buyers to spend all their savings on the same. Due to this, they would sometimes postpone the purchase or choose a lower priced version.

With the easy availability of finance, it has now become possible to purchase a new 2 wheeler in a few simple steps. 2 wheeler loan in India is available for individuals above the age of 18 and holding a business or employment. They should have been in the business or place of employment for more than a year. The entire process of application is simple and hassle free. The documentation includes identity proof, income proof, address proof and photographs. If the documentation is in place, the loan will be approved within 24 to 48 hours and you will be able to drive your dream bike home. The loan amount is based on the type of 2 wheeler you are planning to purchase and the down payment you make towards the same. If the two wheeler is of a premium model, the loan amount will be higher and if it is an economic model, the loan amount will be lower. Further, the down payment will be the amount you pay at the time of purchasing the two wheeler, higher the down payment, lower will be the loan amount. The rate of interest will also be based on the down payment, tenure and the loan amount. Holding a positive credit history helps in the quick approval of the loan.

2 wheeler loan in India is a preferred choice of many due to the easy process and convenience with which the loan is approved. It is advisable to scout the market for the financier before making an application. Different financiers offer different interest rates and schemes to the borrower. Individuals with a positive credit score tend to be eligible for the festive schemes and special discounts offered by the institutes. Purchasing a two wheeler is no longer a farfetched dream; it has been made easier by reliable and trustworthy financers across the country. Considering the growing market of two wheelers in the country, individuals can easily own their dream ride and enjoy the thrill of riding down the city lanes. The process of application is transparent and hassle free and financial institutions ensure that there is no time delay in the process and approval of the same. You will now be able to ride your favorite two wheeler home within 24 to 48 hours.