• Two Wheeler Loan

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    About Bike Loans:

    If you have been wondering how to buy a new or a used two-wheeler, you can apply for a two-wheeler loan. With such a loan, you can make your purchase process simpler as you will not be forced to shell out your entire savings on buying a new bike. You can buy any type of scooter or bike from the market with the help of a bike loan. Moreover, you can repay a two-wheeler loan through equated monthly installments (EMIs). You can buy a 200 cc scooter or a 500 cc bike with a two-wheeler loan. Both banks and non-banking financial corporations (NBFCs) offer bike loans at affordable prices. You can choose the interest rate for your loan according to your convenience. There are official bank websites and third-party financial web portals that give a clear picture of loan details. You can take a look at the different features and fees of each loan, and then make a judicious decision.

    Bikes are extremely popular in the country as it helps people commute very easily without getting stuck in traffic jams. Also, considering that a lot of families are going nuclear, bikes are more preferred and economic. The other observation that has been noticed is the rise in the youth demographic in India (18 to 25 years), forming a majority of motorcycle buyers in India.

    Two-Wheeler Industry in India

    The two-wheeler industry in India is said to be one of the largest of its kind in the world. Whether it is due to the fact that bikes are the cheapest form of personal transport or the large urban middle income demographic in the country, this motor industry is booming. One of the other main plausible reasons for the rise in two-wheelers is that they are easily available to Indians and there are many banks and NBFCs that provide cost-efficient two-wheeler loans.

    Additional Interesting Facts to Know About Two-Wheelers in India

    • Some of the top two-wheeler companies in India that offer bikes and scooters include Hero MotorCorp, TVS Motor, Honda Motorcycle & Scooter India (HMSI), Bajaj Auto, Yamaha, Royal Enfield, and many more. The Indian market also has bikes made by foreign bike manufacturers.
    • Some of the best-selling two-wheelers of the year 2017 were Honda Activa 4G, Hero Glamour 2017, Aprilia SR 150, Honda Dio, TVS Apache RTR 160, etc.
    • The future of two-wheelers in India will mainly comprise electric two-wheelers. All bikes will fully run on electricity without any petrol or diesel consumption. The country has had a good start with electric two-wheelers with electric bikes being launched by Electrotherm and Hero Electric. A few other companies that are working towards developing and releasing electric scooters include Mahindra Two Wheelers, Yamaha, Bajaj Auto, and TVS Motor. These bikes will most likely utilise lithium-ion (Li-ion) batteries to be operated. There is also Ather Energy that will release the first electric scooter to be fully developed in India. The scooter’s name is Ather S340.
    • Apart from Indian bike makers, there are also foreign bike manufacturers that are interested in selling their vehicles in the Indian market. This is specifically because they think that India is a highly profitable market for two-wheelers due to the high demand for vehicles. A few of the foreign bike manufacturers that are already selling their vehicles in India include Harley Davidson, Suzuki, Ducati, etc. UM Bikes, US bike manufacturer, has also recently launched its bikes in the country.

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    Why Should I Choose a Two-Wheeler Loan?

    Considering the rising number of private cars in the urban regions in India, one might think that rural area transportation may have similar trends. The truth is that the majority of the rural demographic can afford a two-wheeler, mainly due to the availability of loans to buy the same. But the convenience of bikes are not the only factors that make these loans a popular finance product in India:

    • Two-wheelers have a better resale value in the long run against cars and hence, once your loan repayments are made, you can think of a new vehicle already.
    • A lot of people in India have the money to buy an entry-level motorcycle or scooter at one-go. But this would cause much distress, in terms of finances for the family. Also, a part of the lump sum that they have can be used to save or even invest in other investment products such as mutual funds, fixed deposits or even buy two-wheeler Insurance. In other words, it helps to ease the burden of buying a vehicle in a single month.
    • A lot of people cannot afford to buy a vehicle unless they are allowed to pay installments and the majority of buyers fall in this demographic. Two-wheeler finance allow borrowers to pay EMIs comfortably. Also, they have much lower maintenance costs than four-wheelers. The mileage or fuel consumption is also better making it a more convenient buy.
    • The Indian loan market has a lot of options in the form of banks to choose from with competitive interest rates and even throwing in combos for loans and insurance packages taken together. Some even come with the advantage of paying through post-dated cheques.

    Types of Two-Wheeler Loans

    There are two types of bike loans available in India, based on the security of the loan:

    • Secured bike loans: You generally take these loans against a security or collateral that may be an asset, such as home, bond, land, etc. While these loans are easily available and have comparatively lower interest rates than unsecured loans, they also carry the risk of losing your asset, in case you are unable to successfully pay off your loan amount.
    • Unsecured bike loans: At first, this may seem quite lucrative, considering they require no collaterals to be declared for loan sanction, but it eventually makes you pay a much higher price for your vehicle than you would have paid if you had taken a secured loan. But for first-time buyers, a secured loan is not always possible. Hence, this type of loan is the only option that is viable.

    However, if one has the liberty, they should choose their loan type based on their priorities, both current and long-term.

    How to Avail Two-Wheeler Loans?

    You can apply for a two-wheeler loan through 2 main methods and they include online methods and offline methods. Let us take a look at the process of applying for a two-wheeler loan through these methods:

    Online application for two-wheeler loans

    • This is an extremely easy way of applying for two-wheeler loans. It is quick and stress-free.
    • You can visit official websites of lenders that offer these loans or third-party financial websites. Once you visit these websites, you will get details about interest rates, fees, charges, and EMI options associated with each loan. You can compare each feature of various loans and then choose your loan. You can also decide your loan tenure and loan amount by making comparisons online.
    • You may also utilise an online loan EMI calculator, which is available on both financial websites and official bank websites. Here, you can key in different loan amounts, loan tenures, and interest rates. Once you get results for the details that you enter, you can fix your loan tenure and loan amount.
    • When you apply online, you can also submit required documents online by uploading them on the website. This will differ from lender to lender. You can check with your lender before you make the application.
    • Applying online is easy as you can apply from your home or office without having to visit a bank branch and waiting in a long line.
    • Online application for two-wheeler finance reduces overall loan expenses.
    • Most lenders provide door-step delivery of loans when you apply online.

    Offline application for two-wheeler loans

    • When you want to apply offline for a two-wheeler loan, you will need to visit a branch of the bank or NBFC that you are interested in.
    • At the branch, you will need to ask for a customer representative to guide you in applying for a two-wheeler finance.
    • You can tell the representative about your preferences and financial condition.
    • You will be required to finish all the formalities before the loan amount is disbursed to your account.
    • When you apply offline, you will not be able to make use of online loan EMI calculators.
    • You also will not be able to compare the several two-wheeler loan options that are available in the financial market. Moreover, you may have to stand in a queue while waiting for your turn to get support from a representative.

    Features of Two-Wheeler Loans

    There are numerous reasons and benefits of a two-wheeler loan, but there are some that stand out. It has mostly to do directly with the financing aspect of it but still is highly valuable to most customers, if they are aware of it. Read on to know the major features that you should look out for in your choice of two-wheeler loan:

    • Margin of finance: On an average, most 2 wheeler loans will pay for up to 90% margin of finance. This means that you can make a loan down payment of only 10%, which is merely considering the prices of an average two-wheeler.
    • Loan partnerships with dealers: Auto-financiers often have special deals with motorcycle and scooter dealerships to provide convenient loans, which often prove to be cheaper than the ones, if opted separately. Also, as a buyer, you can negotiate freebies and added benefits if the bike or scooter dealership offers you the same.
    • Relieving financial burden: The most beneficial feature is the fact that it helps spread the costs into a yearly loan that will last, based on your requirements, never to be responsible to give you a tough time when it comes to financing it. Some companies also take post-dated cheques for loan repayments, which is also convenient for many.
    • Annual income leverage: Banks often offer these loans to people who are earning as low as INR 50,000 in a year. This means that you do not even have to be in the taxable bracket to get these loans and at the same time you can still afford it. Since the loan repayment tenure can go up to 4 years, your monthly installments will not affect your income as such as long as you have that in your mind, in your monthly budget.
    • No prepayment or early foreclosure charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends. This is often suitable for some because it helps to clear off your debts faster if you can. At the same time, banks know that two-wheeler loans do not have very high loan amounts and hence charge nominally and sometimes do not charge anything at all.
    • Other costs covered: These loans often cover the costs of accessories, insurance, and even registration. This means that you are getting finance for not only the vehicle but the essential expenses on the same. It is a good idea to add security accessories and make the most of this opportunity since the premiums also are made lower if you have extra security and safety features in the vehicle.
    • Flexibility in loan tenure: Loans provide borrowers with ample time to pay back for the 2 wheeler loan with tenures that range between 12 to 48 months. A longer tenure helps to manage an individual's monthly finance better and at the same time avoid defaulting payments.
    • Credit score: As a first-time vehicle buyer or while opting for a loan for the first time, motorcycle loans are a great idea to open your file for your credit score since not only will this be a fast loan to repay but will not affect your credit score with lower chances of defaulting the loan repayments.

    Eligibility Criteria for Two-Wheeler Loan Applications

    Banks do not give loans for your vehicle on your face value. In fact, nowadays, banks are extremely careful about making sure that their customers are able to pay up their loans. This is especially due to the rising debt rate among youngsters in the country. Hence, they have a general set of eligibility criteria for two wheeler loans, among which the following are the most important to cover.

    The following table shows the general eligibility criteria for certain factors. These details can differ from bank to bank. You can check with your lender before you apply for a loan.

    Particulars Eligibility Criteria
    Age 18 or 21 years to 65 years
    Employment status Salaried or self-employed
    Preferred credit score 750 and above
    Employment tenure At least 6 months in the same job
    Minimum income Pretty low
    Residential stability Applicant should be residing in the same space to show residential stability
    Permanent telephone number Required

    As discussed in the table given above, it is important for every loan applicant to earn a minimum income. For two-wheeler loans, the minimum income requirement is pretty low. If you earn a decent salary every month, it is good enough. When you approach any lender, you can check with them if they have any specific income requirements. Also, it is important for every loan applicant to have a permanent mobile or landline number so that the lender can get in touch with the applicant anytime for getting any clarification. The number can be your personal number or official number. It is also important for a loan applicant to show residential stability to prove that he or she has been staying in a particular residential property for a reasonably long period. The loan applicant also needs to prove job stability.

    To prove the above-mentioned aspects, one will need to furnish relevant documents while applying for a loan.

    You May Like To Read : Two Wheeler Insurance.

    Documentation Required for Bike Loan Applications

    It is essential to remember that with every eligibility criterion that needs to be covered, comes the requirement to prove it to the bank through documentation. Based on these aspects, the following are the most basic documents that may be required to be submitted along with your loan application to ensure positive results on your loan approval:

    Two-Wheeler Loan Documents
    Particulars Documentation Required
    Photo identity proof Passport-size photographs, at least 2 to 6 are recommended to be kept handy for your loan application.
    Identity proof Any one of the following:
    • Passport
    • Electoral Voter Identity card
    • Driving License
    • PAN Card
    • Aadhar Card
    Address proof Permanent address proof: PAN card, Driving License Temporary address proof: Bills against your name
    Employment proof For salaried employees:
    • Employment or offer letter
    • Bank statements
    • Salary slips
    For self-employed individuals:
    • Latest Form 16
    • Bank statements
    • Proof of their source of income

    Please note that you will need both the originals and the photocopies while applying for a two-wheeler loan. Hence, we advise you to keep both at an arm's distance.

    Two-Wheeler Loan Interest Rates

    Two-wheeler interest rates are variable, based on the bank as well as a range of other factors such as your chosen tenure, your credit report and even the vehicle you have chosen to buy. The rates generally vary between a minimum of 11% to 18.25% p.a. Apart from your interest rate, you will need to check your processing fee and other charges in order to determine the total expenses of your loan. You can negotiate the interest rate with your lender if you have a credit score or if you have some other way to prove your good repayment ability.

    Two-Wheeler Loan Fees and Charges

    Whenever you plan to apply for a two-wheeler loan, you need to consider the fees and charges associated with it. You cannot ignore these charges. Looking only at the actual price of the loan will not give you the right idea about the expenses of your loan. Along with the interest rate, you need to compare the fees and charges for each loan too. This will help you choose the right bike loan as per your preferences and requirements. Let us take a look at some of the common fees and charges that you will need to pay for your bike loan:

    • Processing fees: Processing fees are charged for processing the request for the loan and it is mandatory for most banks. They are also, generally calculated in percentages of the total loan amount. It is also essential to note that this fee is non-refundable under any given situation. The amount charged for it varies from bank to bank but ignoring this number often leads to people paying excess for their loan.
    • Prepayment fees: This is charged under the circumstance where people are able to pay the repayments earlier than due and sometimes even pay the remaining loan amount earlier. For bike loans, this charge is generally very low and sometimes even non-existent.
    • Late-payment fees: As the name suggests, this fee can be easily avoided, with a little bit of planning. The borrower is generally charged this when crossing the due date for loan repayment, generally is a genuine result of financial crunch or lack of funds. However, banks charge a fee regardless the circumstances.
    • Charges for conversion: If you wish to change your two-wheeler loan from a floating rate calculation to a fixed rate or vice versa, this fee is charged. This is basically a charge for switching, based on your requirements. In other words, it is a flexibility fee.
    • Copy of an account statement: Sometimes people may require a statement for their current statement for the loan. While most banks do not charge for getting you a copy of the same, there might be a few banks which may levy a nominal charge for a hard copy of the same.
    • Administrative fee: This is often a very deceiving name for this fee because it is often confused with processing charges. This charge takes care of the administrative cost to the bank for processing your loan, which is not a part of the processing fees.

    Points To Remember Before You Get a Bike Loan

    Before you finalise on taking a particular bike loan, you need to keep certain points in mind. Let us take a look at some of the simple guidelines that need to be followed:

    • Perfect your credit history: Starting with your CIBIL score to the last mobile post-paid bill payment, today is the time for you to make amends in your credit history if you want to get a two-wheeler loan at reasonable interest rates. You need to understand that most loan companies are slowly getting access to your full financial profile, allowing them to judge as a customer who will keep to the loan repayment commitments.
    • Research for the best offer: While your dealership may offer you high on flexibility on your vehicle loan, it is essential that you scrutinise other options as well. Compare each product’s various fees and charges along with the interest rates. You can also check the features and benefits of the loan and then decide.
    • Go through the product disclosure sheet, terms and conditions, and product brochure: Before you actually apply for any loan, one of the main things that you may often forget is to check its terms and condition along with proper product details. If you are unsure about any information or if anything seems misleading, you can contact the bank immediately to clarify.
    • Analyse your interest rates: You can use a two-wheeler loan EMI calculator to give you an approximate idea of how much you actually owe ultimately. You should also note other things such as whether it is a fixed or floating rate, different base rates, etc. Every bank has a different way of calculation with different numbers and this needs to be understood well by you.
    • Fees and charges: As discussed, you should not ignore the fees and charges just because you see a pleasing interest rate for your two-wheeler loan.
    • Documentation: You should keep all your documentation ready, because once you are sure about a loan product, you can instantly apply online or at the dealership.

    FAQs on Bike Loans

    1. Do I need to visit the bank to avail a two-wheeler loan?

    Absolutely not. In fact, in the case of a dealership, the showroom will take care of the things related to the loan sometimes with a representative from the bank available in the showroom. Else, you can apply online. While some loans require soft copies of documentation, others will simply send a bank representative to collect the documentation and even discuss the product with you.

    2. When do I know that it is the right time to apply for a two-wheeler loan?

    The only way you can find it out is by calculating your finances, both currently and for the future. Use an EMI calculator to do so and get an estimated number in your head for monthly repayments. Once you think you can afford it, nothing should stop you, unless you have a terrible credit history.

    3. Will the bank pay for the whole bike or scooter?

    Different banks offer different margins of finance. While some may offer you only 80% margin, do not be surprised when you get 90% covered as well. It is essential to note that most top banks will offer you the full cost of your new vehicle, including other costs such as insurance and accessories.

    4. Is it essential to take a personal accident insurance when riding a two-wheeler?

    Absolutely yes, since riding a two-wheeler has a lot at stake against riding a closed four-wheeler.

    5. Can I pay the full loan repayment before the tenure for the loan ends?

    Yes, sure you can. You might be charged a nominal pre-payment charge for the same.

    6. Will I be allowed to choose between MLCR and base rates?

    The bank's terms and conditions on the same actually, rule over that. However, different banks will give you different numbers, resulting differently. So, to be absolutely sure, refer to their product brochure or literature.

    7. What is two-wheeler hypothecation?

    Hypothecation is a process of guaranteeing possessions as a security or a collateral for the settlement of your loan. In other words, it is an entitlement against the pledged asset as a security of a debt in a contract between you and the bank.

    8. How do I cancel my two-wheeler hypothecation?

    The steps for two-wheeler hypothecation are as follows:

    • Once your loan is completely repaid, keep the receipt as a proof.
    • You will be given two forms of Form 35 from the lender (bank or NBFC) and fill them up duly as directed.
    • Get a postal cover and put a Re.12 stamp on it. Remember to put your name and contact details on it.
    • You will be levied Rs.100 as the processing fee for HP termination. Now, you will get the receipt after disbursement.
    • Attach your bike's original RC book, copy of your insurance document, and duplicate copy of valid pollution under a control certificate along with the aforementioned postal cover and submit it to the Regional Transport Office.
    • You will get a receipt from the RTO as a proof of your submission.
    • You will be sent the RC book by speed post in less than a week.

    Please keep the copy of all the original papers that you have sent.

    9. Will I be allowed to switch from a floating rate to a fixed rate of interest or the other way round for my two-wheeler loan?

    Yes, some banks make it possible to do so. But, they also charge a conversion rate for the same. You can find out about this fee by checking online or by contacting a bank representative.

    10. If I am 18 years old, but I don't have a job yet, can I apply for a two-wheeler loan?

    Yes, some banks may allow you to do so, as long as you have a collateral or a guarantor to support you in case you are not able to make loan repayments on time. As a student, you can apply for loans, but do note that they are treated as special cases and are completely at the bank's discretion.

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    • SWM Superdual T bike revealed in India

      Speedy Working Motors (SWM) recently displayed its first bike model for the market in India at an event for adventure bikes. This bike model is presently going through homologation. The bike will most likely be released in India in the month of June or July 2018. SWM bikes will be offered in India by Kinetic Group under the Motoroyale brand. The Superdual T motorcycle will be introduced in India as a CKD bike. This is a road-focussed bike. The other Superdual model is the Superdual X, which is an off-road bike variant. The Superdual T will come with an engine capacity of 600 cc.

      23 April 2018

    • Parts and Accessories to be Available Through Website by Hero

      Hero MotoCorp has recently launched a new website to help its customers purchase spare parts and accessories without having to leave the comfort of their homes. This website (www.hgpmart.com) is categorically sorted to provide Hero customers the ease to find the parts they are looking for. Customers can also search for the spares they are looking for by typing its name or corresponding number. In addition to the newer models, the company is also offering parts of old models that have been discontinued such as the Achiever, CD100SS, and Impulse. With around 100 spare parts distributors fanned out through the entire nation, Hero plans to provide swift deliveries using a hub and spoke distribution model. The company has also joined hands with Delhivery, in order to ensure a quick and seamless delivery process for the benefit of the customers.

      20 April 2018

    • Ola invests the highest amount in Vogo, a bike-sharing company

      Ola, prominent taxi service provider, is the leader in investing funds in Vogo, a bike-sharing startup. The funding is around $5 to $7 million. The other venture capital investors include Matrix Partners India and Stellaris. Voga has been in the market for 3 years now. It offers an amazing network for sharing scooters, wherein customers can take a bike from fixed pick-up points anywhere in a particular city. After using the bike for their personal use, the customers can leave it any other fixed point. With the help of Ola’s data analytics, Vogo can get a good idea of the different demand trends in multiple locations.

      19 April 2018

    • Honda X-ADV scooter gets patent in India

      Honda Motorcycle and Scooter India (HMSI) recently declared that it will be releasing a brand new scooter in India. The name of the company’s latest product is Honda X-ADV. The scooter has received a patent in India. The scooter is expected to have an engine capacity of 745 cc that will provide the user with a maximum power of 53.6PS. The scooter comes with aluminium handlebars at 910 mm. The two-wheeler has both automatic and manual riding modes. It is expected to offer a mileage of 27.5 kmpl and a maximum torque of 68.

      18 April 2018

    • Exports of Indian bikes and scooters recorded as the highest in 2017-18

      Exports of two-wheelers from India were recorded as the highest in the year 2017-18 with sales of 2.81 million two-wheeler units. This high number was recorded for the first time ever since 2012. Out of the 2.81 million units exported, 2.4 million units comprised motorcycles. On the other hand, 314,307 units that were exported included scooters. 88% of the exports constituted motorcycle, 11% of the overall exports were scooters, and 13.6% of the exports included mopeds. Some of the Indian companies that witness high sales through exports include Hero MotoCorp and Honda Motorcycle & Scooter India (HMSI), India Yamaha Motor, TVS Motor, and Bajaj Auto.

      17 April 2018

    • Indian Motorcycle starts a new store in the state of Assam

      Indian Motorcycle, leading American motorcycle manufacturer, is currently dedicated towards expanding its operations in the country. The company recently opened its store known as the Indian Motorcycle Riders Stop (IMRS) in the city of Guwahati in Assam. It is located at Precision Powersports in the city. When one visits the IMRS, he or she can enjoy test rides for bikes and reliable after-sales support too. The goal of the company is to make bikes more accessible to motorcycle lovers so that they can explore the various features of different bikes, and then take a call.

      13 April 2018

    • Hero XPulse 200 bike displayed at 2018 Auto Expo

      Hero MotoCorp, top two-wheeler manufacturer, will soon be releasing its latest offering known as Hero XPulse 200. The company had displayed this brand new bike at the 2018 Auto Expo, which was held in India in the month of February. According to sources, the bike’s price will be lower than Rs.1 lakh. It is expected to be the most economical adventure motorcycle to be released in India. This bike is expected to have an engine capacity of 200 cc. The maximum power expected to be offered by this vehicle is 18.1 bhp and the maximum torque to be released by the bike is 17.2 Nm.

      13 April 2018

    • Kawasaki gives discounts on 2017 bike models of up to Rs.4 lakh

      Kawasaki India, leading bike manufacturer, has decided to provide discounts on 4 of its bikes including Z1000, Ninja 300, Z1000R, and ZX-10RR. The discounts for these bikes will start from Rs.60,000 to Rs.4 lakh. One can buy the Ninja 300 at a discount of Rs.60,000. Meanwhile, the Ninja ZX-10RR is now sold at Rs.17.90 lakh, with a price reduction of Rs.4 lakh. The Z1000 R and the Z1000 come with a discount of Rs.3 lakh. The 2017 Ninja ZX-10R comes with a discount of Rs.3 lakh, but this model has already been sold out in the market.

      12 April 2018

    • Uber soon to buy JUMP Bikes, electric bike sharing firm

      Uber Technologies, leading taxi service platform, recently declared that it will be buying the prominent electric bike sharing service known as JUMP Bikes. This is being done so that customers have the option to utilise bikes instead of cars. The firm JUMP is an unlicensed electric bicycle sharing platform that has 250 bicycles. Around 100 employees from JUMP will be joining Uber. The electric bike platform had already collaborated with the Uber application in San Francisco wherein customers could book a red bike from JUMP on the Uber application itself.

      11 April 2018

    • Two-wheeler loans witness a growth of 32% in the year 2017

      The two-wheeler loan segment in India attained an excellent rise of 32% in the year 2017. This rise mainly happened with the help of non-banking financial companies (NBFCs). Lending by NBFCs is encouraged by a lot of auto makers. Over the past few months, the average ticket size of bike loans has raised to over Rs.48,000. For two-wheeler loans, the private sector lenders make up to 30% share of the market. They are more prominent in the industry. On the other hand, lenders run by the state are pretty much non-existent.

      10 April 2018

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    Two Wheeler Loan Reviews

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    • HDFC Bank Two Wheeler Loan
      "Two wheeler loan with HDFC bank"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I have taken a two wheeler loan with HDFC bank and the approved loan amount was around 50000. The rate of interest was 8% with a monthly EMI of 2700.The total tenure was for 2 years . There was some processing fee included with this. The documentation was done well.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • review Two Wheeler Loan
      "Two Wheeler loan"
      CANARA BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from Canara bank and the approved loan amount was 1.5 lakhs. the rate of interest was 9%. As my father works there the process was easy. The process was very quick. The overall experience regarding the two wheeler was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • review Two Wheeler Loan
      "EXCELLENT"
      BAJAJ AUTO FINANCE
      0.5 5.0/5 "Blown Away!"
      I have a two wheeler loan from Bajaj. The rate of interest and charges is 14 % which is high compared to others in the market. The documents process was been smooth. The response was been good with Bajaj. I also owns Bajaj Emi card which was very much useful for me. It is a good experience with Bajaj two wheeler loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • review Two Wheeler Loan
      "Best Service"
      CENTRAL BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      My two wheeler loan experience with CBI was very good, i received the loan amount on time and only limited documents were required to verify. I have taken loan for Rs 55000 with nominal interest rate when compared to others in the market. The tenure of this loan is 5 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 20, 2018
    • Tata capital Two Wheeler Loan
      "Good"
      TATA CAPITAL LIMITED
      0.5 4.0/5 "Great!"
      My two wheeler loan was taken with 1 year back. The loan amount was 1 lakh and the interest rate was 8.5% which is average and the tenure period was 36 months .,They have provided door step service for collecting documents . The customer service and responses was realy good so I would like to recommend to others.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 19, 2018
    • review Two Wheeler Loan
      "Best Service"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with Bajaj Finserv back in 2010, the process was smooth and i received my loan amount on time. The tenure period of this loan is 1 year and the loan amount was for Rs 25000 with nominal interest rate in the market. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , noida
      Reviewed on Apr 18, 2018
    • ICICI Two Wheeler Loan
      "ICICI BANK Two Wheeler Loan"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from ICICI bank and the approved loan amount is 35000. The rate of interest was nominal and the monthly EMI comes around 2000. The tenure was for 1 year. The approval was very quick and the documentation process was simple.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 18, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Around 8 years ago, I have got the two wheeler loan from the HDFC bank. They have disbursed the loan amount within a day time. The customer support service and the response was good with the HDFC bank. They have offered me the loan amount up to 70% . The rate of interest and the charges are average with the HDFC bank two wheeler loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 18, 2018
    • review Two Wheeler Loan
      "Best Service"
      INDUSIND BANK LTD
      0.5 4.5/5 "Excellent!"
      I have taken a two wheeler loan with IndusInd bank and my loan experience was good, i pay an EMI of Rs 3600 and paid Rs 30000 as a down payment. The process was smooth and i received my loan amount on time. The tenure period of this loan is 23 months and the customer support responded on time.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 17, 2018
    • HDFC Bank Two Wheeler Loan
      "quick process"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had taken two wheeler loan from the top most private sector bank HDFC BANK. My rate of interest is very reasonable which is 10.35% by comparing with other loan partners. They approved my loan with in the short period of time, The customer support is good and well responsive.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 17, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      The HDFC BANK has offered me a two wheeler loan around 4 years ago. The customer support service is average with the HDFC BANK and they don't give proper response to the customers. I have got the loan amount within a week time. I have got the required loan amount expect the processing fee. The rate of interest and the charges are average with the HDFC bank two wheeler loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 17, 2018
    • review Two Wheeler Loan
      "quick process"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      I had taken two wheeler loan from the top most private sector bank INDUSIND BANK LTD. My rate of interest is very reasonable. I had closed my two wheeler loan and ownership was also changed as per the document. I can prefer for online payments to pay EMI with due time.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 17, 2018
    • review Two Wheeler Loan
      "Good service"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan from Bajaj Finserv and my experience was good The loan amount was for Rs 86000 with nominal interest rate when compared to other sources. I have tenure period of 24 months to complete the loan and the customer service was very good.
      Was this review helpful? 0
      , chennai
      Reviewed on Apr 16, 2018
    • Syndicate Bank Two Wheeler Loan
      "Very good service"
      SYNDICATE BANK
      0.5 4.0/5 "Great!"
      SYNDICATE BANK has offered me two wheeler loan twice . The customer support service is good with the SYNDICATE BANK and they give good response to the customers. They have disbursed the loan amount within 10 days of time. The rate of interest and the charges are nominal with the SYNDICATE BANK two wheeler loan.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 16, 2018
    • HDFC Bank Two Wheeler Loan
      "Best Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank, the loan amount was for Rs 60000 with nominal interest rate when compared to other banks. The process was smooth and i received my loan amount on time. The tenure of this loan is 2 years and the customer service was very good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 16, 2018
    • HDFC Bank Two Wheeler Loan
      "Best Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good. The loan amount was for Rs 25000 with nominal interest rate. The process was quick and i received my credit card within 1 week. Customer service was good and they collected documents on time. The tenure period of this loan is 3 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 14, 2018
    • review Two Wheeler Loan
      "Rate of interest is very much reasonable"
      INDUSIND BANK LTD
      0.5 2.0/5 "Expected more"
      I had taken a two wheeler loan from the top most private sector bank HDFC BANK. I paid 4 months emis. The rate of interest is very reasonable by comparing with other loan providers. They didn't deliver my loan related documents to my registered communication address.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 12, 2018
    • L&T Finance Two Wheeler Loan
      "Good service"
      L&T FINANCE LIMITED
      0.5 4.0/5 "Great!"
      Got the Two wheeler loan from the L&T FINANCE LIMITED around 5 years ago. The customer support service is good with the L & T and they have given good response in regards to my two wheeler loan. I had got the loan amount of Rs,40,000 and I am satisfied with it.
      Was this review helpful? 0
      , guntur
      Reviewed on Apr 12, 2018
    • review Two Wheeler Loan
      "Below average service"
      BAJAJ FINSERV
      0.5 1.5/5 "Bad"
      The BAJAJ finserv has offered me a Two wheeler loan around 4 years ago. The customer support service is not up to the mark and they haven't gave me any response from their end. My bike was stolen and I was not using it even though the BAJAJ finserv made me to pay the loan amount fully and the insurance policy dint cover for the stolen bike.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 12, 2018
    • review Two Wheeler Loan
      "Good service"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with Bajaj and my loan experience was very good. Customer service was very good and they followed up on time. The tenure period for this loan is 2 years. The loan amount was for Rs 1 lakh with nominal interest rate when compared to other sources.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 11, 2018
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