Muthoot Capital Two-Wheeler Loan
If you are looking to finance the purchase of a motorcycle, one of the best decisions you can make is to take a loan from Muthoot Capital. The company offers two-wheeler loans at competitive interest rates for tenures that range from 12 to 48 months.
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Muthoot Capital Services Ltd. is a Non-Banking Finance Company (NBFC) that is a part of the Muthoot Pappachan Group. The company offers consumer and corporate finance products such as two wheeler loans, used car loans, and secured business loans.
Interest Rate and Charges
The rate of interest of Muthoot’s two-wheeler loans start at as low as 0.99% p.a. However, rate of interest charged will be dependent on the assessment of risk-level of a customer.
This risk profile takes into account the type of two-wheeler, repayment capacity of the customer, other financial commitments and debts of the borrower, repayment history, etc. So it can differ from one borrower to another.
Pre-payment Charges
You are allowed to close your loan before maturity, but a nominal pre-payment fee will be levied.
Muthoot Capital Bike Loan Eligibility
Muthoot Capital two-wheeler loans are available to:
Salaried or self-employed individuals
- Salaried individuals with minimum net income of Rs.96,000 p.a.
- Self-employed individuals with net business profit of Rs.1.2 lakh p.a.
- Individuals who are at least 18 years old at the time of loan application and up to 65 years of age when the loan tenure ends
Documents Required
To be able to get two wheeler finance from Muthoot Capital, you need to submit the following documents:
- Identity proof: Aadhaar card, passport, Voter's ID, PAN card, or driving license
- Address proof: Aadhaar card, passport, Voter's ID, ration card, driving license, telephone bill, electricity bill, gas connection bill, or LIC policy
- Income proof: Form 16, Income Tax Return, or salary slip
- Asset proof: Latest property tax payment receipt of land, building, or house
- Passport-size photo and application form
Muthoot Capital Two Wheeler Loan Features
Muthoot Capital two wheeler finance is characterised by the following features:
- Specific schemes that suit the requirements of a varied customer base
- Flexible options for repayment that range from 12 months to 48 months
- Interest rates starts at 0.99% p.a.
- Speedy approvals and hassle-free processing
- Loans provided under asset proof base, income base, and no-income base
- Minimal documentation
- Quantum of loan – Up to 100% for certain two-wheeler models
- EMI schemes and down-payment options that suit customer needs
How to Apply for a Two-Wheeler Loan from Muthoot Capital
- Go to Muthoot Capital website.
- On the menu section, click on ‘Apply Now’.
- Enter the relevant details.
- Enter the OTP that is sent to the registered mobile number.
- Click on ‘Submit’.
- Select the bike you wish to purchase.
- A Muthoot Capital representative will contact you to process the request.
FAQs on Muthoot Capital Two Wheeler Loan
- Is it possible to calculate the EMI for my two-wheeler loan from Muthoot Capital?
Yes, you can visit the Muthoot Capital website and use the EMI Calculator tool for determining your monthly EMIs. The tool is easy to use, with slider options that provide you the monthly EMI instantly.
- How do I pay monthly installments of my two wheeler loan EMI?
Muthoot Capital considers National Automated Clearing House (NACH) as the primary mode of EMI payment. Customers can also download the M-Power app from Apple App store or Google Play store to be able to make repayments through UPI, net banking, or debit cards.
- How is the customer support facility of Muthoot Capital?
Muthoot Capital has an excellent customer service department that provides timely support to customers in clarifying their queries. You can contact a customer support executive at the number 1800 102 1616.
- What other products are offered by the company?
Apart from two-wheeler financing, Muthoot Capital offers used car loans, fixed deposits, secured business loans, loyalty loans, and subordinated debts to customers.
- Is Muthoot Capital listed in the Stock Exchange?
Muthoot Capital has equity shares listed in National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE).
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