Whoever said wishes don’t come true hasn’t explored our offers!
  • Corporation Bank of Two Wheeler Loan

     4.5 / 5.0   by 5 users
    Used this product? Write a review >>

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Overview:

    Having a two-wheeler will offer you comforts on different levels, you can travel at your own time and convenience. If you are worried about the sudden expense that you might incur if you purchase a vehicle, you must opt for a two-wheeler loan. Offered exclusively for people who want to purchase two-wheelers, Corporation Bank two-wheeler loan comes loaded with many features and advantages.

    High service standards, innovative benefits and affordable interest rates makes Corporation Bank one of the most preferred players when it comes to bike loans.

    Perfect Personal Loan Deals for you

    Features and Benefits of Corporation Bank Bike Loan:

    The following advantages offered by Corporation Bank two wheeler loan makes it one of the most preferred loan products for the purchase of Bike.

    • The loan will cover the entire cost of the two-wheeler including accessories, insurance charges, registration charges and road tax.
    • This loan can also be availed for the purchase of second hand two-wheelers not older than 3 years from the date of registration.
    • Corporation Bank offers a high loan quantum of up to Rs.1 lakh per vehicle.
    • A margin of 40% is levied for Corporation Bank bike loan in case of second-hand vehicles.
    • No prepayment charges is levied which means the customer gets more flexibility and can close the loan without any second thought if he wants to.
    • The loan repayment tenure for two-wheeler loan is 36 months.

    Eligibility for Corporation Bank Two Wheeler Loan:

    • Individuals, businessmen, professionals, NRIs, salaried customers, partnership firms, sole proprietorship, HUFs, trusts, companies and institutions are eligible to avail this loan.
    • The net annual income of the applicant should be at least Rs.50,000.
    • To supplement the repayment criteria, immediate relatives may also join as co-borrowers. Depreciation and cash accruals can be added to the income.
    • Applicant and co-applicant should be established in the service in case of salaried borrowers.
    • In case of trust/firm/companies, partners, trustees and directors who have a regular, independent source of income can also join as co-applicants to boost the repayment capacity.
    Apply for Personal Loan

    Documentation for Corporation Bank Bike Loan:

    The documents required for Corporation Bank two wheeler loan vary depending on the class of applicant and source of income. Here are some of the basic documents that will be asked for during the application process.

    • Completely filled application form with photographs
    • ID proof and address proof (PAN card, passport, Voter ID etc.,)
    • Recent salary slips and IT return statements if the applicant is employed
    • Bank account statements for last 3 months
    • Salary slip or Form 16 for salaried applicants
    • For self-employed applicants, business stability proof, employment stability proof and ownership proof will be required.

    For a complete list of documents required, do enquire with Corporation bank.

    Corporation Bank 2 Wheeler Loan Interest Rates:

    Loan Type Feature Base Rate + Spread Rate of Interest
    Two Wheeler Loan (for personal use) Up to 3 years repayment tenure BR + 3.50 13.15%

    The interest rate is charged as floating interest and is linked to the base rate. As the interest rates are subject to frequent revisions, contact Corporation Bank to get more information on the prevailing interest rates.

    FAQs for Corporation Bank Two Wheeler Loan:

    1. Will I incur any processing charges while applying for a Corporation Bank Two Wheeler Loan?

      Yes, a nominal processing fee would be charged.

    2. Will I be charged any prepayment penalty if I choose to repay my loan in advance?

      No prepayment penalty is charged for the foreclosure of Corporation Bank two wheeler loan.

    3. Do I have to place any security to avail this loan?

      Primary security for Corporation Bank Two Wheeler Loan is hypothecation of the prescribed vehicle. Guarantee from a third party is discretionary.

    4. Is the rate of interest fixed for this loan?

      No, the interest rate is floating and is linked to the base rate.

    5. Does the cost of the vehicle as prescribed under this loan cover insurance charges?

      Yes, insurance charges, road tax, cost of registration and cost of accessories also are covered under the cost of vehicle.

    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.

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    Corporation Bank of Two Wheeler Loan Reviews

  • Page 1 of 1
    • Corporation Bank Two Wheeler Loan
      "EXCELLENT"
      CORPORATION BANK
      0.5 5.0/5 "Blown Away!"
      The service provided was very good with corporation bank related to the business loan process.Which was offered by our honorable prime minister of India,which was really helpful, I have taken this loan on January and i have closed it in April, Customer service is good with the corporation bank.
      Was this review helpful? 0
      , pune
      Reviewed on Oct 13, 2017
    • Corporation Bank Two Wheeler Loan
      "good service"
      CORPORATION BANK
      0.5 4.0/5 "Great!"
      Service is very good from CORPORATION BANK ,representatives and customer service is also very helpful and responsible and the interest rate they provide is 13.5 which was little high still the overall service is excellent from CORPORATIONBANK.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 30, 2017
    • Corporation Bank Two Wheeler Loan
      "comfortable approach"
      CORPORATION BANK
      0.5 4.0/5 "Great!"
      Disbursal was within one or two days with corporation bank. As I have a savings account with this bank I tried my two wheeler loan through them. The entire process was quite simple with less papers. Interest rate was according to the market rate. Being a government bank this bank provide good facilities.
      Was this review helpful? 6
      , bangalore
      Reviewed on Mar 14, 2016
    • Corporation Bank Two Wheeler Loan
      "Best Offer"
      CORPORATION BANK
      0.5 5.0/5 "Blown Away!"
      I have taken my Two Wheeler Loan from CORPORATION bank for the tenure of 2.5 years. They have offered me rate of interest 12% which is very less when compared with other banks. I closed this loan with them now, I never find any difficulties with them.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 19, 2015
    • Corporation Bank Two Wheeler Loan
      "Fair!!!"
      CORPORATION BANK
      0.5 3.0/5 "Satisfactory"
      On the year 2008, I availed two wheeler loan from Corporation bank. On 2011 the Emi has been done. It was not that god experience. They took almost four weeks to process my loan. The processing fee was high, the loan amount was normal one. Customer service was okay.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 27, 2015
    Common Loader Icon
    Page 1 of 1
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.