Quick Approval, High Financing and More! Explore the Ton of Features of Shriram Two Wheeler Loan
Two-wheeler Loan
Owning your dream two-wheeler is now simpler than ever with Shriram Two-wheeler Loan. We offer financing options up to 95% of the on-road price of the vehicle. This means that you don’t have to worry about a large down payment. Whether you want a scooter for daily commute or a bike for leisure, the Shriram Two-wheeler Loan helps customers manage their financing needs with minimal documentation and affordable EMIs. Start your journey today with our intuitive digital platform and ride home on your bike of your dreams.
Two-wheeler Loan - Important Info
Here’s a quick look at some important facts about the Shriram Two-wheeler Loan that you’d want to remember before applying:
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Parameters
- Loan Amount
- Tenure
- Interest Rates
- Age
- Eligibility
- Documents Required
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Criteria
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Up to 95% of the on-road price of the selected make and model
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12 - 60 months
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Starting from 10%* p.a.
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21-59 years
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Both Salaried and Self-employed professionals
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Identity proof and proof of address
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Two-Wheeler Loan Rates and Charges
Shriram Finance believes in keeping the rates and charges of the two-wheeler loan transparent to help customers make informed decisions. Here’s what you need to do before applying:
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Type of Fees
- Rate of Interest
- Processing Fee
- Foreclosure Charges
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Applicable Charges
- Starting from 10%* p.a.
- Up to 5%*
- Up to 4%* (The customer cannot close the loan account within 12 months
from the date of the first EMI. An additional 2% charge will be applied if the
loan is transferred to another financial institution.)
Please note that the interest rates and charges of the Shriram Two-wheeler Loan are subject to change. They may vary based on your loan tenure, market conditions and other relevant factors. Check the Interest Rates and Charges document for the most accurate and up-to-date information.
Two-wheeler Loan - Features & Benefits
Shriram Two-wheeler Loan comes with several appealing features and benefits, like:
Attractive Interest Rate
Our two-wheeler loan starts at 10%* p.a., making it an affordable option for you.
Flexible Tenure Options
With tenure options ranging from 12 to 60 months, you can pick a repayment term that’s suitable for you and your finances.
Maximum Financing
We finance up to 95% of the on-road price of your dream vehicle. This means you don’t have to arrange for a large down payment.
Quick Approval
Loan application is processed quickly and once approved, funds are disbursed within a few hours to a few days.
Hassle-free Process
Our simple and straightforward loan application process makes sure you can complete your purchase on time.
Two-wheeler Loan Eligibility
Here’s a quick eligibility checklist that can help you secure the Shriram Two-wheeler Loan without delays:
Eligibility Criteria
Age Limit
- 21 to 59 years
Status of Employment
- Salaried or Self-Employed
Employment Proof
- Salaried Professionals: Work experience letter from the current company of at least one year
- Self-Employed Professionals: Should have an active business and show a record of running the business for 2 years successfully
Unorganised Sector (Housewives, students, farmers, etc.)
- Co-applicant or guarantor with a stable income and good credit score
Residence Proof
- Applicant must be living for at least one year at the current address
Documentation Requirements for Shriram Two-wheeler Loan
To apply for a Shriram Two-wheeler Loan, please submit the following list of documents along with your loan application:
Required Documents
For Proof of Identity
- Passport
- Driving Licence
- Voter ID Card
For Proof of Residence
- Passport
- Driving Licence
- Gas bill with Gas book
Income Proof Documents
- Bank statements of the last six months
- One cancelled cheque
- ACH form for electronic clearing mandate
Other Documents
- Recent passport-size photographs
For New Vehicles
- Duly endorsed vehicle registration certificate on receipt
How Does a Two-Wheeler Loan EMI Calculator Work?
The Shriram Two-Wheeler Loan EMI Calculator is an online tool that helps calculate your two-wheeler loan EMI. Here is how it works:
The two-wheeler EMI calculator generates a loan summary based on your inputs. The loan summary includes detailed information about the monthly EMI, including the principal loan amount and interest rate.
How to Apply Online for a Shriram Two-wheeler Loan?
You may apply for a Shriram Two-wheeler Loan online. The application process is simple and straightforward. Please follow these steps to initiate your two-wheeler loan online application from Shriram Finance:
Shriram Two-wheeler Loan FAQs
If you want a two-wheeler loan to get approved faster, remember the following:
- Fill out the online loan application with complete and accurate information.
- Provide the list of documents required for your two-wheeler loan application.
- Make sure you have a steady income to increase your chances of loan approval.
- If you do not meet the eligibility criteria, please consider getting a co-applicant or a guarantor.
Shriram Finance offers two-wheeler loans for:
- New bikes/two-wheelers
- Used bike/used two-wheeler loans
- Electric bike/electric two-wheeler loans