How to take a bike on loan |
Hello friends, I welcome you all to today’s article. Friends, I will give you information on how to take a bike loan. Friends, it is every person’s dream to buy a bike or a two wheeler because the bike can be easily taken to any place and can be easily driven in crowded areas and it is very cheap to buy a bike, hence the bike can also be bought in low budget. Bike is the first choice of middle class person because the cost of driving the bike is also less and he can easily do all his work with the bike,
but if for some reason a person is unable to buy a bike and he has shortage of money, then he can take a bike loan to buy the bike. Yes. There are many such banks and private companies in India which provide bike loans in easy installments and taking a bike loan is very easy. Similarly, bike loan can be taken even with low payment. The person taking bike loan can repay the bike installments in easy installments which also reduces its cost. If you do not know how to take bike loan, then in today’s article, we will tell you its complete information in detail. For this you will have to read it carefully till the end. 
documents for getting bike loan
If you want to take a bike loan, then for this you must have some necessary documents which are as follows –
- Aadhar card
- pan card
- mobile number
- address proof
- income certificate
- driving license
- passport size photo
Eligibility for bike loan
- The companies providing bike loans can provide bike loans only to Indian citizens.
- Most of the loan giving companies give bike loans to people between the age of 18 to 60 years.
- The better your credit score, the sooner you will get a loan for a bike and the interest rate will also be less and the period for repaying the interest will be longer.
- Loan giving companies generally ask for income proof (salary slip) from you to make sure whether you will be able to pay the EMI on time or not.
- Most of the companies giving loan require down payment, usually the down payment is 10 to 20%, here 10 to 20% down payment has to be given.
Process for taking bike loan?
If you want to take a bike loan, then for this you will have to follow all the procedures given below step by step, which will be like this –
- To take a bike loan, first of all you will have to select the bike of your choice and then find a commitment to buy the bike.
- Whichever company’s bike you want to buy, talk to its showroom manager about the finance, how much interest will be charged, for how long the loan will have to be repaid and how much loan you will get.
- Whatever documents are required from you to buy the bike, you will have to submit all those documents properly.
- You will have to put your signature on the document taking bike loan.
- You will have to submit all the documents required related to the bike loan. You will have to make your full payment to take a bike loan.
- After that you can take delivery of your bike.
conclusion –
Friends, in today’s article we have given information about how to take a bike loan. We will tell you the complete information in detail so that you can easily take a bike loan and avail its benefits. Friends, if you all liked today’s article then please share this article.