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Bike Loan Statement

Non-Banking Financial Companies (NBFCs) and banks offer two-wheeler loans at attractive interest rates and a flexible repayment tenure. Unlike earlier, the process to get a bike loan is simple and several lenders provide to option to apply for a loan online.

Once you have availed a two-wheeler loan, it is important that you check the loan statement to manage the loan effectively. Several details such as the number of payments due and the number of payments that have been made will be mentioned in the statement. Checking the statement will also ensure that you do not pay any additional charges.

Details in the Bike Loan Statement

Some of the details that are mentioned in the two-wheeler loan statement are mentioned below:

  • Statement Number: The statement number will show the total statements that have been sent to you. The statement number will be different once a new statement has been generated.
  • Equated Monthly Instalments (EMIs): The number of EMIs that have been paid and the number of EMIs that are due will be mentioned in the bike loan statement. It is vital that you check this information as penalties will be levied for any missed payments.
  • Balance: Once an EMI has been paid, the pending balance will reduce. You can find out the total amount due by checking the statement.
  • Rate of Interest: The interest rate that is levied on your two-wheeler loan will be mentioned in the statement.

Advantages of Bike Loan Statement

Some of the main advantages of the bike loan statement are mentioned below:

  • Payments can be Tracked: In case any payments have been missed, penalties will need to be paid. Checking the statement will help in tracking the total number of payments that you have made and the number of payments that are due.
  • Future EMIs: You will know the number of EMIs that are due by checking the bike loan statement. Checking the bike loan statement can help in planning your future payments.
  • Additional Fee: In case any additional fee has been charged, you can check this by going through the loan statement. In the case of any errors, you can contact the lender to rectify them.

Different Ways to get the Two-Wheeler Loan Statement

The different ways by which you can get the bike loan statement are mentioned below:

  • Visiting the Branch: You can get a physical statement by visiting the bank branch.
  • Calling Customer Care: You can contact the bank’s customer care to get the two-wheeler loan statement via mail.
  • Email: You can send an email to the bank requesting for the bike loan statement.
  • Net Banking: You can log in to the net banking portal to download the two-wheeler loan statement.

Once you have availed the two-wheeler loan, it is important that you check the loan statement regularly. Checking the statement will help you find the outstanding balance, rectify any errors, and plan your future payments.

Two Wheeler Loan Pages
Two Wheeler Loan by Bank
Two Wheeler Loan by Institutions
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