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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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.