In a country where mobility is of paramount importance, the two-wheeler has firmly established itself as a symbol of convenience and independence. Serving as the primary choice of transport for a majority of Indians, it embodies affordability, accessibility, and efficiency. Indeed, the allure of these vehicles is not just attributed to their low cost and easy maintenance, but also to the freedom they offer in navigating congested Indian roads.

Obtaining a two-wheeler loan is a crucial stepping stone towards achieving personal mobility, providing a convenient financial avenue for acquiring a scooter or bike. 

Advantages of a two-wheeler loan

For the regular salaried individual or small business owner, the prospect of owning a two-wheeler may involve substantial financial considerations. The weight of a lump-sum payment can be overwhelming, potentially necessitating the depletion of hard-earned savings.

This is where the two-wheeler loancomes into play. Here’s a brief overview of its advantages:

• Helps you acquire the vehicle of your choice without putting immediate financial strain.

• Offers an opportunity to build or enhance your credit score by responsibly managing the loan.

• The flexibility in repayment timelines and the minimal down payment make it a convenient, easily accessible option.

How to Secure an Attractive Bike Loan Interest Rate

1. Prioritise Your Credit Score:

Before embarking on your journey to secure a two-wheeler loan, it is imperative to assess your credit score. A healthy credit score can unlock access to lower interest rates and more favourable loan terms. If your score requires improvement, take steps to enhance it, such as settling outstanding debts and ensuring timely bill payments.

2. Evaluate Repayment Capacity:

Lenders evaluate your ability to repay the loan on time. Analyse your monthly income and expenses to determine how comfortably you can manage loan repayments. Furnishing evidence of a stable income and a favourable debt-to-income ratio can positively influence your loan application.

3. Make a Larger Down Payment:

A larger down payment reduces the loan amount and lowers the lender’s risk, making you a more attractive borrower. This may lead to a better bike loan interest rate offer.

4. Choose a Shorter Loan Tenure

Shorter loan tenures usually come with lower interest rates. While longer loan tenures might seem tempting due to lower monthly payments, they often result in higher overall interest payments.

5. Do your Research on Interest Rates

Different banks present varying interest rates for two-wheeler loans. Conduct thorough research to identify the bank that offers the most competitive rates.

IndusInd Bank, a prominent name in the banking sector, understands the needs of the customer and provides maximum on-road finance – up to 95% – for your two-wheeler. With a focus on hassle-free experiences, IndusInd Bank promises quick loan processing and doorstep documentation services to ensure a seamless loan journey. What’s more, you may apply for a bike loan online, choosing from a wide range of flexible repayment tenures, ranging from 1-3 years and up to 5 years for high-end bikes. Best of all, IndusInd Bank offers one of the most attractive bike loan interest rates in India, ensuring affordability and easier loan repayment.

Apply for a two-wheeler loan today and embark on a thrilling journey of mobility with IndusInd Bank by your side.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. 

Credit card EMIs offer the flexibility to convert big-ticket purchases into affordable monthly instalments, enabling users to buy expensive items without straining their finances.

Flexibility is the key to unlocking financial opportunities, and credit cards are an indispensable tool that provide convenience and flexibility in handling everyday expenses. Whether you want to cover large payments or handle unexpected emergencies, credit cards can come to your rescue. Beyond the ease of cashless transactions, credit cards offer a feature that enhances financial management – Credit Card EMIs (Equated Monthly Instalments).

What are Credit Card EMIs?

With Credit Card EMIs, you can convert high-value purchases into smaller monthly payments. Rather than paying the full amount at once, you can choose to pay off the debt gradually in EMIs over a specified period. This facilitates budgeting and makes expensive items more accessible without causing financial stress.

Types of Credit Card EMIs

1. Zero-interest-rate EMIs:

With zero-interest-rate EMIs, you can repay the amount without paying interest on top of it.

2. Reduced Interest Rate EMIs:

With reduced rate interest EMIs, you can enjoy a lower monthly interest rate, which ranges from 1.25% to 1.99% per month. This rate is considerably lower than the interest imposed by credit card issuers for overdue or missed payments.

How Can You Convert Credit Card Payments to EMIs?

You need to get in touch with your credit card issuer to convert credit card payments to EMIs. They usually offer EMI conversion options for eligible transactions, such as large purchases. Inform them that you would like to convert a specific transaction into EMIs, and inquire about the available tenure options. Once approved, the total amount will be divided into fixed monthly instalments with an associated interest rate.

Factors To Consider When Converting Your Credit Card Payments into EMIs

Here are some important factors to consider before converting your credit card payments into EMIs:

Apply For an IndusInd Bank Credit Card and Manage Your EMIs Effectively

IndusInd Bank provides a selection of credit cards to help boost your financial flexibility. You can select the one that best suits your financial requirements and goals, and gain access to a range of benefits and rewards. A noteworthy feature of these credit cards is effective EMI management. It enables you to handle substantial purchases by spreading the cost across convenient monthly instalments.

Here are some of the notable features and benefits of IndusInd Bank credit cards:

• Reward points on every purchase with bonus reward points at reaching spending milestones
• Reward points can be redeemed for cash to pay credit card bills
• Select from a range of credit cards that have no joining and annual fees
• Free access to airport lounges at both domestic and international airports
• Waived fuel surcharges at Indian petrol pumps
• Attractive cashback deals and offers on shopping, flights, movie tickets, dining, groceries and more

Apply for a credit card online with IndusInd Bank and manage your high-end purchases with easy EMIs!

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. 

For many, owning a car represents not just convenience but a tangible milestone in their lives.Car loans allow individuals to own their dream car, without having to wait for years to save enough money to purchase one.

The best part is that it is possible to apply for a car loan online with flexible repayment tenures of up to 5 years. Financial institutions today have also streamlined the car loan application process, making it incredibly user-friendly. You can easily apply for a car loan online in just a few clicks.

This article will cover eligibility criteria, required documents, and the step-by-step application process to secure a car loan online. But first, let us look at the distinct features of a new car loan online.

Benefits of a Car Loan

A car loan is the first step towards making your dream a reality. Online car loans bring the following advantages to the forefront.

1. Flexible Repayment Tenures

Car loans offer long and flexible repayment tenures of 1-5 years, sometimes even extendable to 7 years. This extended period allows for easy loan repayment, reducing financial stress for the borrower.

2. Competitive Interest Rates

Car loans today come with attractive interest rates. Alongside this, borrowers can choose pocket-friendly EMI options, making repayment more manageable.

3. High Loan Value

Customers can obtain new car loans online for up to 100% of the car’s value. This eliminates the need for a significant upfront payment, making car ownership more accessible.

4. Hassle-free Application Process

Applying for a new car loan online is a hassle-free and straightforward process. Meeting essential eligibility criteria, and submitting minimal documentation streamlines the application process, saving you time and effort.

Eligibility Criteria for a Car Loan

Before applying for a new car loan online, applicants must check the eligibility criteria needed to apply for a car loan online. These include :

1. Salaried applicants must be between 23 and 60 years of age, and self-employed individuals must be between 23 and 65 years of age.

2. Salaried individuals’ minimum annual income should be INR 2.5 lakhs, while for self-employed individuals, it must be INR 3 lakhs.

3. Salaried individuals require a minimum of three years of employment stability, with at least one year in the current job. For self-employed individuals, three years of business stability is mandatory

4. For residential stability, the borrower should have lived in the same city for two years, and in the current residence for at least one year. No stability criterion is required in the case of one’s own house.

Documents Required for a Car Loan

As a borrower applying for a new car loan online, you must provide some documentation:

1. Valid identity proof, such as Aadhar and PAN card.

2. Valid income proof:

–  Latest Form 16/Income Tax Returns.

–  Last three months’ salary slips.

3. Recent three months’ bank statements.

4. If income proof is unavailable for self-employed individuals, proof of owned house is required.

5. Self-employed individuals must also submit a business incorporation certificate/ business continuity proof for last 3 years, and latest 2 years’ Income Tax Returns with IT computations

For self-employed individuals – commercial use – FTU, eligibility criteria and document requirements will differ.

How to Apply for a Car Loan Online?

Applying for anew car loan online is a streamlined process with most lenders. Here is a breakdown of the steps involved in obtaining a car loan online:

Step 1: Start by visiting the bank’s official website.

Step 2: Fill in the details like name, mobile number, PAN, and pin code.

Step 3: After completing the details, submit your application online.

After submission, the bank will promptly contact you regarding your car loan application.

Parting Thoughts

With financial institutions offering flexible and digital processes, it is now easier than ever to apply for a car loan online. Moreover, understanding the eligibility criteria, required documents, and the application process increases your chances of swiftly securing online approval for your car loan.

So, do not let financial constraints hold you back. Choose a car loan that suits your budget and tenure preferences, and drive home your favourite set of wheels.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. 

IndusInd Bank enhances your banking experience with easy-access savings accounts, combining digital banking services, competitive interest rates, and minimal documentation. A convenient four-step online savings account opening process coupled with personalised account numbers and exclusive brand discounts promises an efficient way to manage and grow your savings.

The path to financial independence firmly rests on the cornerstone of a disciplined savings routine. A savings account forms the foundation of an individual’s financial security and discipline, providing a buffer in times of uncertainty and a foundation for future investments. By consistently setting aside a portion of your income, you remain financially equipped to navigate life’s financial challenges with a sense of ease and confidence.

With a myriad of savings account products available in the market today, you have no dearth of options to choose from. IndusInd Bank takes the convenience quotient up a notch with easy-access accounts. The bank offers a range of accounts tailored to diverse banking and lifestyle needs, including options like the Zero Balance Savings Account—for customers who prefer flexibility without the burden of maintaining a minimum balance. Featuring exclusive rewards and attractive interest rates, IndusInd Bank helps you kickstart your savings journey in four simple and completely paperless steps.

IndusInd Bank’s Easy 4-Step Account Opening Process

You can open an IndusInd Bank savings account from your phone via the IndusMobile App, or via internet banking on any device. To open an online savings account with the bank, all you need is your PAN and Aadhaar card. The bank’s video KYC-enabled account opening process eliminates the need for a physical branch visit, ultimately saving you time and money.

Here are the four simple steps for online savings account opening at IndusInd Bank:

Step 1: Visit the website and pick an account number of your choice.

Step 2: Enter basic details like name, phone number, PAN, Aadhaar, DOB, etc.

Step 3: Next, you will be required to add the funds to your account for activation.

Step 4: Complete your KYC verification using Video KYC anywhere, anytime.

Apart from the simplified account opening, IndusInd Bank also offers a host of benefits that make saving and growing your corpus effortless.

Benefits of IndusInd Bank Easy-Access Savings Accounts

Digital Banking Services

IndusInd Bank understands the importance of accessibility and convenience in today’s fast-paced and digitally-connected world. Thus, the bank’s savings accounts come with an array of digital banking services, including Video Branch, WhatsApp Baking, and more, enabling you to manage your finances efficiently from anywhere. This feature is essential for maintaining smooth, uninterrupted banking, ensuring you are always in control of your finances.

Competitive Interest Rates

With IndusInd Bank’s savings bank accounts, you not only get a safe place to park your funds but also best-in-class saving account interest rates that can yield substantial returns on your idle money. In essence, this means your savings have the potential to grow faster, while you also have the convenience of liquidity.

No Physical Documentation

IndusInd Bank eliminates the usual complexities and time-consuming tasks associated with account documentation by reducing the paperwork verification process down to a video KYC. This means all you need is your Aadhaar Card and PAN card to open a savings account.

Discounts and Offers on Top Brands

When you open an account with IndusInd Bank, you get more than just a place to store and manage your money. You also gain access to an exclusive world of discounts and special offers from a variety of top brands across dining, lifestyle, travel, and entertainment.

Personalised Account Number

Apart from convenient financial management, exclusive offers and attractive interest rates, IndusInd Bank also allows you to personalise your savings account by giving you the option of picking an account number of your choice.

Streamline Your Savings Journey with IndusInd Bank’s Savings Account Today

From a seamless application process to personalisation and digital banking services, IndusInd Bank offers multiple easy-access features with its savings accounts. Apart from a secure place to store your idle money, IndusInd Bank’s accounts also allow you to get more value out of your money with attractive interest rates and special offers and discounts.

Apply for an online savings account opening at IndusInd Bank and tap into a world of financial convenience today.

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.