- Which bank is best for two wheeler loan?
- Can a student get a bike loan?
- How is EMI calculated in bike?
- Is cibil score required for bike loan?
- What is processing fee for bike loan?
- What is the eligibility for two wheeler loan?
- What is the EMI for bike loan?
- Can I buy bike on Bajaj EMI?
- Can I buy a bike with zero down payment?
- How is EMI calculated?
- What is the minimum loan for two wheeler loan?
- Which is better personal loan or bike loan?
- How can I avail my bike loan?
- How much Bike loan can I get?
- Which bank is better for bike loan?
- Is it good to buy bike on EMI?

## Which bank is best for two wheeler loan?

Two wheeler Loan Interest Rates 2020BankLowest Interest RateProcessing feeUnion Bank of India10.30% p.a.0.50% of the loan amountCanara Bank10.45% p.a.Rs.1,000 to Rs.5,000L&T Finance10.75% p.a.At L&T discretionState Bank of India (SBI)16.45% p.aAt SBI discretion8 more rows•Aug 28, 2020.

## Can a student get a bike loan?

Yes, students can get a two-wheeler loan to buy a bike if they meet certain eligibility criteria that is set by the bank/lender. Age: The minimum age to get a bike loan in most banks is 21 years, but some banks and Non-Banking Financial Companies (NBFCs) have a minimum eligibility age of 18 years.

## How is EMI calculated in bike?

Bike Loan EMI Calculation Formula EMI = [P x R x (1+R)^N]/[(1+R)^N-1], P stands for the loan amount or principal, R is the interest rate per month and N is the number of monthly installments.

## Is cibil score required for bike loan?

There is no such fixed credit score required for a bike loan, but it is advisable to have a score between 600 and 750, as this range is considered ideal for banks and credit institutions. … The chances of getting a bike loan with a bad CIBIL score is difficult, but not impossible.

## What is processing fee for bike loan?

3.10%Processing fee of a two wheeler loan is the fee charged for the processing of your loan application. This one-time fee is non-refundable even if your loan application is rejected. Tata Capital charges a processing fee which is equivalent to 3.10% of the loan principal amount.

## What is the eligibility for two wheeler loan?

Two Wheeler Loan EligibilityCriteriaSalariedSelf EmployedAge21 to 60 years21 to 65 yearsMinimum IncomeRs. 1.44 Lakhs per yearRs. 2.5 Lakhs per yearEmployment StatusMinimum 1 year of experienceMinimum 1 year in the same line of business.Bank Statement3 months bank statement3 months bank statement

## What is the EMI for bike loan?

How does Two-Wheeler Loan EMI Calculator work?Loan amount (Rs.)Interest rate (Mean)EMI for 4 years (Rs.)50,00011.10%1,2951 Lakh11.10%2,5892 Lakh11.10%5,1793 Lakh11.10%7,7681 more row•Aug 28, 2020

## Can I buy bike on Bajaj EMI?

Can I buy a bike with my Bajaj Finserv EMI Network card? No, you cannot buy a bike with a Bajaj Finserv EMI Network Card.

## Can I buy a bike with zero down payment?

What is Zero Down payment Bike Loan? Zero down payment bike loan is a loan wherein the lender will finance the entire cost of the two wheeler you wish to purchase, not requiring you to pay anything upfront. Tata Capital offers 100% of the value of the two wheeler up to a maximum of Rs. 1.5 lakhs.

## How is EMI calculated?

How is EMI calculated? The mathematical formula to calculate EMI is: EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months. … The higher the loan amount or interest rate, the higher is the EMI payments and vice versa.

## What is the minimum loan for two wheeler loan?

Eligibility Criteria for Two-Wheeler LoanTwo-Wheeler Loan – Eligibility CriteriaOccupationSalaried and Self-employedRepayment TenureMax. up to 60 monthsNet Monthly SalaryMin. Rs. 7000Loan Amount DisbursalMin. 6 hours & Max. 7 working days5 more rows

## Which is better personal loan or bike loan?

Lower Interest rate: Another major benefit of availing a personal loan is that personal loans can have a lower interest rate than the two-wheeler loan. While the average rate of two-wheeler loans is 11-12%, the rate of interest for personal loans is usually around 10.5%.

## How can I avail my bike loan?

How to get Bike Loan?1 – Pick a Two Wheeler Loan. Decide the brand and type of Two Wheeler Loan that is likely to serve your needs best. … 2 – Check your loan eligibility. You can check your loan eligibility in less than two minutes. … 3 – Calculate your Two Wheeler Loan EMI. … 4 – Apply online. … 5 – Submit documents.

## How much Bike loan can I get?

Two Wheeler Loan Eligibility CriteriaMinimum age limit21 yearsStatus of employmentSalaried or self-employedMinimum income requiredRs.50,000 per yearMinimum work experience required6 months with the current employerMaximum loan amountRs.10 lakh4 more rows•Aug 28, 2020

## Which bank is better for bike loan?

Compare Bike Loan Interest RateBankTwo Wheeler Loan Interest Rates*Lowest EMI per Rs. Ten Thousand for Max TenureHDFC Bank14.03%₹ 273 for 4 yearsPNB10.70%₹ 216 for 5 yearsBajaj Auto Finance11.60%₹ 330 for 3 yearsIndusInd Bank12.00%₹ 332 for 3 years11 more rows

## Is it good to buy bike on EMI?

Advantages of Taking a Bike Loan on EMI Repayment tenure can extend up to five years which results in lower EMIs every month. … You can use the bike loan calculator to calculate the rate of interest and conveniently choose EMIs you can afford every month.