A few years ago, owning a two-wheeler was a luxury. Now, having your own vehicle has become more of a necessity than as extravagance. Given that in a highly populated country like India, the public transportation means are insufficient and is still under development, having your own two-wheeler would spell utter comfort and convenience. But, buying a two-wheeler without proper savings and budget plan is an arduous task. If you are financially unprepared to manage the expense, you can avail a two-wheeler loan and repay in affordable monthly instalments.
An industry leader in automobile financing, Mahindra Financing two wheeler loan come with an array of benefits that will make your two-wheeler purchase process easy and hassle-free.
Features and Benefits of Mahindra Finance Two Wheeler Loans:
The following advantages that come with Mahindra Finance 2 Wheeler Loans makes it the best choice for people who are looking to purchase a two-wheeler without any hassles.
- Fast loan approval and minimal documentation requirements
- For women customers, a rebate of 0.5% is offered.
- Customers can choose a suitable repayment tenure varying from 12 months to 36 months.
- Mahindra Finance offers a high funding of up to 80% of the Loan to Value (LTV) as loan quantum.
- Mahindra Finance also offers loan insurance for two wheelers.
Perfect Personal Loan Deals for you
Eligibility for Mahindra Finance Two Wheeler Loans:
All individuals aged between 21 to 58 years are eligible to apply for this source.
Documentation for Mahindra Finance Two Wheeler Loans:
The following documents are to be ssubmitted while applying for Mahindra Finance Bike Loans.
- KYC Documents:
Any one of Passport, PAN card, driving license, Voter ID and Aadhar card.
- Income Documents:
Latest copy of salary slips, income tax return statement, bank statement showing salary credit, proof of employment etc.,
Know About: Bike Insurance Policy
Mahindra Finance Bike Loans Interest Rate:
interest rate for two-wheeler loans offered by Mahindra Finance generally varies between 10% to 14%. Since interest rates are subject to frequent change, do contact Mahindra Finance before applying for a two-wheeler loan.
FAQs on Mahindra Finance Two Wheeler Loans:
- How many days does it usually take to process the loan?
The loan process will be usually completed in two days.
- Will I incur any penalty if I chose to prepay the loan?
Yes, a nominal prepayment penalty will be charged if the customer decides to prepay the loan.
- What is the maximum loan quantum that I can get?
Customers are offered a maximum financing of up to 85% of the on-road, invoice price of the vehicle.
- I do not have any proof of income. Will I be able to get a loan for two wheeler?
Yes. With all other required documents in place, you will be able to get the loan without any hassles.
- Can I opt to repay the loan in 2 years time?
Yes, customers are offered flexible repayment tenures of up to 36 months.
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