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Difference Between Personal and Two Wheeler Loan


Eligibility Criteria Bike Loan Minimum and Maximum age- At least 18 years to 65 years. Applicant should be residing in the same house for at least 1 year. Applicant should be in a stable job for at one year or self-employed with IT returns of 2 years. Applicant should have a good credit score with credit bureaus Applicant should have a permanent telephone number and possess KYC and other related documents

Personal Loan Minimum and Maximum Age- 21 Years age to 60 years. Minimum Monthly Income- Rs. 15,000 (Rs.20K in Mumbai, Delhi, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, Ahmedabad, Cochin) Required Work Experience- At least 2 years, of which 1 year must be with current employer Profession- Working in private limited companies, or public sector undertakings


Documents Requirement Bike Loan Identity Proof: Aadhaar Card, PAN card, Passport, Driving License, Electoral Voter Identity Card. Address Proof: Aadhar Card, PAN card, Passport, Driving License, Latest Electricity Bill, Latest Phone Bill, Latest Bank Passbook reflecting the current address (Remove), Property Documents, Water bill.

Personal Loan Identity proof (copy of passport/voter ID card/driving license/Aadhaar) Address proof (copy of passport/voter ID card/driving license/Aadhaar) Bank statement of previous 3 months (Passbook of previous 6 months) Latest salary slip/current dated salary certificate with the latest Form 16


Interest Rates & Charges Bike Loan Interest Rates: 7.85%* Onwards Maximum Repayment Tenure: 36* Months Processing Fees: 1*% - 3.5*% Overdue EMI Interest- 3*%

Personal Loan Interest Rates: 11.25*% to 22.00*% per annum Prepayment Charges 5*% on principal outstanding plus GST Processing Fees: Upto 2.25*% of loan amount plus GST Loan Cancellation Charges â‚š 3000*/plus GST


Loan Amount Bike Loan As per the value of the vehicle. (specific down payment involved). All you need to do is apply online or visit any branch of Bajaj Auto Finance, fill up the form and get your loan approval process started.

Personal Loan Upto Rs. 50* lakhs. Most banks restrict maximum eligibility to Rs. 25* lakhs. All you need to do is apply online or visit any branch of your preferred bank, fill up the form and get your loan approval process started.


Loan Approval Time Bike Loan

Personal Loan

Customers get a welcome call in about 10 days from the date of application to receive details about the bike down payment amount, EMI etc.

The loan approval depends on loan sanctioning officer whose decision is based on the criteria specified by the bank or any financial institution.

It takes around 4 to 5 working days for the loan to get approved.

The loan approval can take time around 48 hours and 2 weeks. Maximum loan duration- 1 to 5 years or 12 to 60 months.


Apply for Bike Loan-

https://applyonline.bajajautofinance.com/

Check Free EMI Online-Â

https://www.bajajautofinance.com/emi


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Profile for Navneet Sharma

Difference Between Personal Loan and Two Wheeler Loan  

A personal loan is an unsecured loan on the other hand bike loans are secured loan. Both type of loans are great to get instant cash for you...

Difference Between Personal Loan and Two Wheeler Loan  

A personal loan is an unsecured loan on the other hand bike loans are secured loan. Both type of loans are great to get instant cash for you...

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