Central Bank of India offers two-wheeler loans with affordable interest rates that start at 11.35% p.a. This makes it easier to own your dream bike with easy repayment tenures that go up to 5 years. You can also increase your eligible loan amount by adding co-applicants.
Table of Contents
Category | Details |
11.35% p.a. to 12.15% p.a. | |
Maximum Loan Amount | Up to Rs.10 lakh |
Minimum Loan Amount | At the discretion of the bank |
Income | Rs.1,80,000 |
Repayment Period | 5 years |
Processing Fee | 0.5% of the loan amount |
Prepayment Charges | At the discretion of the bank |
The features and benefits of the Central Bank of India two-wheeler loan are as given below:
It helps to know exactly how much your Equated Monthly Instalment (EMI) will be on your two-wheeler loan. This will help you plan your finances in a stress-free manner, making it easier to maintain a regular and consistent EMI repayment schedule without compromising on your lifestyle.
To calculate the EMI on your Central Bank of India bike loan, all you have to do is follow the steps given below:
The eligibility criteria for Central Bank of India two-wheeler loans are as given below:
To apply for a two-wheeler loan from Central Bank, you can download the application forms required from the official website of Central Bank. You can find this on the two-wheeler loan page; click on the tab named 'Forms'.
Fill up the application form and submit it along with the required documents and photographs to the Central Bank branch that is nearest to you.
You can also visit BankBazaar.com for your two-wheeler loan. The advantage of applying for a bike loan on BankBazaar is that you get to compare and choose different loans from different banks. You can choose the one that is the best fit for your budget and requirements.
For loan amounts of up to Rs.25 lakh, the margin amount is 10% of the loan amount (minimum). For loan amounts above Rs.25 lakh, the margin is 20% of the loan amount (minimum).
Yes, the security required is the vehicle which is being purchased with the loan which will be hypothecated to the bank until the loan is repaid in full.
Yes, you can make pre-payments on your two-wheeler loan.
No, there is no penalty or pre-payment charges for the two-wheeler loan.
No, this loan is only to be used for the purchase of a new two-wheeler.
The minimum processing fee that Central Bank of India levies on two-wheeler loans is Rs.500.
The maximum processing fee that Central Bank of India levies on two-wheeler loans is Rs.2,000.
No, Central Bank of India does not levy any documentation charges on two-wheeler loans.
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