Federal Bank Two-Wheeler Loan

Features & Benefits of Federal Bank Two-Wheeler Loan

The main features and benefits of the two-wheeler loan offered by Federal Bank are mentioned below: 

1. Free personal accident insurance up to Rs.10 lakh. 
2. Attractive rate of interest. 
3. Choice of a loan settlement tenure up to 48 months. 
4. Funding is provided on the ex-showroom price of the two-wheeler. 

1. Quick processing of the two-wheeler loan. 
2. No hidden fees. 

Purpose of Loan:

Federal Bank Two-Wheeler Loan can be availed for purchasing new two wheelers for personal use.

Federal Bank Bike Loan Eligibility Criteria

The eligibility criteria that must be met in order to avail a two-wheeler loan from Federal Bank are mentioned below: 

1. The borrower should have a steady source of income. He/she could be salaried or self-employed.
2. The minimum take home of the borrower, after payment of all EMIs, should be Rs.20,000. The requirement may be reduced for individuals residing in semi-urban or rural locations.
3. The individual can choose to club one's spouse's income as well.
4. In case one clubs agricultural or rental income, the minimum monthly income is required to be Rs.40,000.

Documentation Required for Federal Bank Two-Wheeler Loan

The list of documents that must be submitted are given below: 

1. KYC Documents of the loan applicants such as ID proofs and residential proofs, and age proof.
2. Your latest Passport Sized Photograph (along with that of the co-applicant if any)
3. Proof of occupation or entrepreneurship.
4. Income papers such as salary slips, bank statements, IT Return Papers.
5. Business people also needs to audited balance sheet, P & L statements as well as tax paid challans in case of self-employed individuals.
6. If you are a Non-Resident Indian (NRIs), you need to submit employment certificate and embassy attested papers as well as two years NRI Account Statement.
7. Certified passport certificate, ID card, work permit, and visa in case the applicant is a Non-Resident Indian (NRI).
8. Property documents in case the loan amount is over Rs.25 lakh.
9. Land tax receipt (latest) or document proof of own house.
10. Invoice.

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