How can I buy a bike on EMI?
How can I buy a bike on EMI?
How to buy a bike on instalment?
- Check eligibility. If you already have a bike model in mind, then you need to start by checking if you are eligible for a Two-Wheeler Loan.
- Calculate EMI. The next step is to calculate the EMI or the equated monthly instalments.
- Apply for loan. Now you are all set.
What is the process of bike finance?
Apply for a Two Wheeler Loan in Four Easy Steps: Just fill the online application form for two wheeler loan and you will get the loan status instantly. Visit the dealership showroom where the friendly staff will assist you in completing loan formalities. Submit the required documents for processing of your loan.
Is income proof required for bike loan?
It should be computerized documents issued by PSU, Pvt Sector or MNC Banks only. (All banks except corporation bank)/ Property or Municipal Tax receipt; Address proof in the name of the applicant’s spouse or parents name is acceptable. Latest Income Tax Return (ITR) Last 3 month’s bank statement is mandatory.
What documents are needed for finance?
Proof of income (if you’re self-employed you’ll need tax returns and bank statements) Address history (usually three years) Proof of identity (e.g. driving license or passport)
Can I buy bike without downpayment?
The most economical personal commuting vehicle is a bike. But you can also buy a bike without paying any down payment. There are loan providers like Shriram City Union Finance that provide 100\% financing on a bike loan.
What documents are required to buy a new bike on EMI?
Here are the list of documents that you might need to buy a new bike on EMI. Documents Required By Salaried Individuals: Proof of Identity: Aadhar Card/Pan Card/Passport/Driving License/Voter ID and passport size photos. Proof of Address: Driving License/Passport/Voter ID/ Aadhar card/ Utility Bill/Bank statement
What documents do I need to buy a new bike?
Documents Required to Buy New Bike for Registration. The documents required to buy a new two-wheeler are as follows: Attested copy of the ID proof of the buyer. Proof of residence copy, attested. Passport size photos. Buyers will have to additionally provide income proof in case the bike is bought through a loan.
How to register a bike legally in India?
To register the bike so that you can ride it legally on Indian roads, you need to submit the following documents to register your bike at the Regional Transport Office (RTO). While your bike dealership will facilitate the entire registration process, it is important you are aware of the documents required while registering your bike.
Can I buy a two wheeler on EMI?
You can purchase a two wheeler on EMI if you are a salaried individual or a self-employed person. The rate of interest, processing fee, EMI bounce charges, etc. on these loans may vary based on the lender. While most banks offer 2-wheeler loans, private financing firms such as Bajaj Finserv and Tata Capital have also gained popularity.