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  • Central Bank of India Two Wheeler Loan

     4.5 / 5.0   by 4 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Overview:

    Bikes, two wheelers and the Indian way of life are intrinsically connected. By providing mobility at a judicious prices, the two wheelers has relieved the Indian middle class from the droning and tedious public transportation. For most of them, a scooter or motor bike is a symbol of convenience as well as rebellion. In the recent past, this field has shown a worrying downward spiral thanks to forever increasing inflation and equally rising interest rates on bike loans. But this proved to be cyclic as popularity of bikes and two wheelers is back with a bang with new and improved models in the market as well as reasonable rates. Central Bank of India, a premier public sector bank and headquartered in Mumbai, has already earned a sparkling reputation in loan delivery.

    Perfect Personal Loan Deals for you

    Central Bank of India Bike Loan Features & Benefits:

    Purpose of Loan:

    To purchase a two wheeler for individual use and not for renting out or ferrying commuters.

    Quantum of Two Wheeler Loan:

    You can avail a loan of up to INR 10 lacs.

    Your loan will be authorized on Road Price (Cost of the bike/ two wheeler + Registration Fees + Two Wheeler Insurance + Road Tax).

    Any extra expenses for fancy numbers will not be funded by the bank.

    Margin:

    Loan sum of up to INR 20 lacs - Minimum 10 percent

    Interest Rates:

    Two wheeler loans are given by Central Bank of India with floating fixed rates.

    2 Wheelers Base Rate + 0.40 percent

    Security:

    Hypothecation of two wheeler bought is normally the security or collateral. The Hypothecation fee charged by the bank must be recorded with the concerned Regional Transport Office Authorities.

    Repayment Tenure:

    You can take up to 60 months to settle the loan.

    Also Read: Two Wheeler Insurance.

    Central Bank of India 2 Wheeler loan Eligibility Criteria:

    • The applicant should be of age 18 and above and no older than 65.
    • He/ she should be have a steady source of income. They could be a permanent salaried worker, entrepreneurs, self-employed, freelancers or independent professionals.
    • The minimum net annual income of an applicant should be INR 1.2 lacs.
    • Even non-resident Indians can apply for a Central Bank of India Two Wheeler Loan.
    • Agriculturalists regardless of land holding engaged in production centric agricultural activities and in other related activities are also welcome to apply.
    • You can avail a loan on behalf of a company, proprietorship, partnership organization as well as societies and trusts.
    Apply for Personal Loan

    Documentation for Central Bank of India Bike Loan:

    • Photocopy of any of your ID Proof such as Driving License, Voters ID, Aadhar Card or Passport.
    • Photocopy of your residential address proof such as any address bearing Identity Card, Rental/ Lease Agreement or Ration Card.
    • Income Papers such as bank statements, salary slips and IT Return Papers.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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    Central Bank of India Two Wheeler Loan Reviews

  • Page 1 of 1
    • review Two Wheeler Loan
      "Excellent"
      CENTRAL BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      My bike loan is from Central Bank Of India, and they are always professional in their services. I had done the complete down payment for 10 thousand and the rest is EMI and the Rate of Interest Offered to me is 10% and they did not charge for insurance. The monthly EMI deductions are 2000/-
      Was this review helpful? 6
      , vijayawada
      Reviewed on Feb 13, 2017
    • review Two Wheeler Loan
      "Excellent"
      CENTRAL BANK OF INDIA
      0.5 4.0/5 "Great!"
      The central bank of India provided me the rate of interest as 10.1% for the two wheeler loan. The services were good with them and the loan amount got disbursed within a week of time. The processing charges were around 0.5% with them and the documentation process were simple with them.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Feb 04, 2016
    • review Two Wheeler Loan
      "Best loan with central bank of india"
      CENTRAL BANK OF INDIA
      0.5 4.0/5 "Great!"
      I got the two wheeler loan with the Central Bank of India. The rate of interest is around 13.65%. Services are bad with them like every time I have to go for the bank and used to submit the documents for three to four times. Processing charges are around 500 Rupees with them.
      Was this review helpful? 6
      , coimbatore
      Reviewed on Oct 28, 2015
    • review Two Wheeler Loan
      "Better "
      CENTRAL BANK OF INDIA
      0.5 4.0/5 "Great!"
      The two wheeler loan that I took up with the central bank of india. The rate of interest is huge. I got the loan with them because I had the salary with them and the loan got credited with in 7 days of time. The services are not up to the mark. Documentation process is not having any issues.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 06, 2015
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