What is the Procedure for Repaying a Two-Wheeler Loan?

Repaying a two-wheeler loan involves several steps, which can be completed both online and offline:

Online Repayment Procedure

• Log into Account: Access the financial institution's online portal or mobile app using your credentials.
• Select Loan Account: Choose a two-wheeler loan from the list of active loans.
• Choose Repayment Method: Opt for the repayment method, such as net banking, debit card, or digital wallets.
• Enter Payment Details: Input the payment amount and verify the details.
• Confirm Transaction: Complete the payment by confirming the transaction. A confirmation receipt will be provided.

Offline Repayment Procedure

• Visit the Financial Institution: Go to the nearest branch of the financial institution.
• Provide Loan Details: Inform the customer representative of the loan account number and the payment amount.
• Choose Payment Method: Make the payment using cash, cheque, or demand draft.
• Obtain Receipt: Ensure to receive a payment receipt as proof of the transaction.