Mahindra Finance Two-Wheeler Loan
Mahindra Finance offers two wheeler loan at attractive interest rates with a repayment tenure ranging between 1 year and 3 years. The bike loans offered by the lender comes with quick processing and hassle-free documentation.
Table of Contents
Mahindra Finance Two-Wheeler Loan Interest Rate
Category | Details |
Interest Rate | Up to 26% p.a. |
Maximum Loan Amount | Rs.25 lakh |
Minimum Loan Amount | Rs.1 lakh |
Income | Contact the bank |
Repayment Period | 12 months to 36 months |
Processing Fee | Contact the bank |
Prepayment Charges | Contact the bank |
How to Apply for a Mahindra Finance Bike Loan?
The step-by-step procedure to apply for a Mahindra Finance bike loan is mentioned below:
- Visit Mahindra Finance Two-Wheeler Loan Website .
- Click on 'Two-Wheeler Loans'. The option can be found under the 'Loans' tab.
- On the next page, click on 'Apply Now'.
- Next, you must enter personal details such as your name, state, city, email, mobile number, and pin code.
- Select the type of employment.
- Click on 'Submit'.
- A Mahindra Finance executive will contact you to process the request.
Mahindra Finance Two-Wheeler Loan Eligibility
Individuals between the ages of 21 years and 58 years can avail a two-wheeler loan from Mahindra Finance.
Documents Required
The list of documents that must be submitted in order to avail a bike loan from Mahindra Finance are mentioned below:
- Know Your Customer (KYC) documents
- Income proof
Mahindra Finance Two-Wheeler Loan Features and Benefits
The main features and benefits of the bike loans offered by Mahindra Finance are mentioned below:
- The loan approval process is quick.
- A 0.50% rebate on the interest rate is provided for women customers.
- The repayment tenure ranges between 12 months and 36 months.
- Loan insurance is provided.
- Attractive interest rates.
Mahindra Finance Two-Wheeler Loan EMI Calculator
In case you are availing a loan to purchase a bike, you can use the two wheeler EMI calculator offered by Mahindra Finance or BankBazaar to check the monthly payments.
The calculator is easy to use and details such as the processing fee, rate of interest, repayment tenure, and loan amount must be entered. Once the relevant details are entered, accurate results are displayed immediately. When compared to manual calculations, using the calculator helps in saving time.
FAQs on Mahindra Finance Two-Wheeler Loan
- How long does Mahindra Finance take to process the loan?
Mahindra Finance takes up to two days to process the two-wheeler loan.
- Is it possible to avail a two-wheeler loan without providing proof of income?
Yes, you can avail a two-wheeler loan without providing proof of income. However, any other documents that have been requested by the lender must be provided.
- Can I pre-pay the loan?
Yes, you can pre-pay the two-wheeler loan. However, a nominal fee is charged by the lender to pre-pay the loan.
- What are the repayment tenure options that are available?
The repayment tenure options that are available range between 1 year and 3 years.
- What is the maximum amount of loan that can be availed?
Up to 85% of the on-road price of the bike may be provided as a loan.
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