Capital first is a financial services provider primarily involved in micro consumer loans and corporate lending. The company also distributes life insurance and general insurance products. One of its flagship consumer products is Two Wheeler Loan. This loan is available for purchase of any two-wheeler such as a scooter, moped or motorcycle.
Features and Benefits of Capital First Bike Loan:
Capital First’s two wheeler loans are characterized by the following features:
- Quick processing of the loan request
- Affordable down payment for the purchase
- Equated Monthly Instalments that fit your pocket
Also Read: Two Wheeler Insurance.
Capital First 2 Wheeler Loan Eligibility Criteria:
To be eligible to get a loan from Capital First for two-wheelers, you need to:
- Be at least 18 years old if you are salaried
- Be at least 21 years old if you are self-employed
- Have work experience of at least 6 months if you are salaried
- Have work experience of at least 2 years if you are self-employed
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Required Documents for Capital First Bike Loan:
When you go to apply for a two-wheeler finance from Capital First, carry the following documents with you:
- Filled application form
- Copy of PAN card
- Proof of identity (any government identity card that has your photograph)
- Proof of address (any government identity card that mentions your address)
- Proof of income: payslips for the last 3 months, the latest Form 16, Income Tax Return
- Bank statements for the past 6 months
FAQs on Capital First Two-Wheeler Loans
- I joined my first job 3 months ago. Can I apply for a two-wheeler loan from Capital First?
No. You should be in a job for a minimum of 6 months before you become eligible to apply for two-wheeler financing from Capital First. The financer needs to be convinced of your income stability and continuity before it can grant a loan.
- Can I use the two-wheeler loan as a personal loan?
Two-wheeler loan is specifically created to help you buy a scooter or motorbike of your choice. The vehicle will be mortgaged with the financer as collateral security on the loan. So you cannot use this loan as a personal loan for purposes other than buying a two-wheeler.
- What is the interest rate for two-wheeler loans from Capital First?
Capital first promises low EMIs and competitive interest rates. For details on interest rates and other applicable charges, you need to visit the branch nearest to you.