A personal vehicle has become an indispensable part of our lives in this day and age when uncertainty surrounds us. Indians' love-affair with two-wheelers is a result of affordability and convenience.
You can further reduce your financial burden of buying a two-wheeler by applying for a two-wheeler loan.
While availing a bike or two-wheeler loan may seem like an uphill task, technology has some solutions on offer.
Lenders today offer express two-wheeler loans at your convenience.
It's true! You heard that right! It's time to say goodbye to long queues and never-ending branch visits. You can now apply for two-wheeler loans online.
With so many bike loan lenders out in the market, one is spoilt for choice. Thus, it is imperative to carefully evaluate your options and select the brand that most closely meets your needs.
If you are looking for a hassle-free two-wheeler loan, Shriram Finance offers express two-wheeler loans.
Checking your loan eligibility only takes a couple of minutes. Simply follow these simple steps to find out whether you qualify for a two-wheeler Loan so that you can begin applying.
At Shriram Finance, the eligibility criteria are as below:
Upon determining your eligibility, you can learn what your EMI will be and for how long it will be.
When you determine your eligibility, you'll be able to learn how long your EMI will be for. After completing your research, visit the website and apply for your bike loan. Please fill out your financial details and personal information. Furthermore, you must provide details about the vehicle, such as the RTO location, the dealer's name, and the on-road price.
As the entire approval process is digital, you can get a status update on your application within minutes.
Shriram Finance offers paperless two-wheeler loans, and it has the most effortless and hassle-free two-wheeler loan documentation process. The following is a list of documents needed for a two-wheeler Loan.
Lenders have denied loan applications from a few applicants. This kind of experience is neither enjoyable nor helpful to your credit score.
You must calculate the amount of money required to purchase a bike, according to your needs, and it is never wise to request more funding than is necessary.
Depending on the amount of money you need to borrow, you can explore all loan options at your disposal. It's essential to understand this. You should never take out a loan for which you are not eligible, and your application will be rejected automatically if you do this. Ensure you satisfy all the requirements for two-wheeler loans.
A credit score is a significant factor in deciding whether you will be approved for a loan, and a low credit rating usually results in rejection by lenders. Consider improving your credit history before applying for the loan.
You might want to consider getting a co-applicant or guarantor if your credit score isn't enough. You may be able to obtain the loan you need if you have a co-applicant with good credit history.
Don't forget to fill out your application with all the details your lender demands. The application may be rejected if it is incomplete or contains inaccurate information.
Ensure that you submit all the required documents when submitting your loan application. The application may be rejected if the required documents are not attached.
It might be more convenient to take the loan from a bank you have a relationship with already. You may still qualify for a loan based on your good standing even if you don't meet all the requirements.