A 750+ CIBIL score can help you secure a two-wheeler loan with greater ease. You are likely to enjoy a lower bike loan interest rate and more favourable terms. IndusInd Bank two-wheeler loans are marked by attractive interest rates, flexible repayment tenures, wide-ranging loan amounts with up to 95% on-road finance, and quick & hassle-free loan processing.

At once a symbol of youthful exuberance and independence, the two-wheeler remains the vehicle of choice for millions in India. Even today, the humble scooter or bike is deservedly popular, not least on account of its easy affordability and mobility – it is easy to park and manoeuvre one through narrow streets and wide roads alike. If you are looking to take out a two-wheeler loan and wish to learn about the eligibility – particularly the CIBIL score factor – for applying for this loan type, here is everything you need to know on the subject.

The Importance of CIBIL Score

Your CIBIL score is simply a three-digit summary – typically ranging between 300-900 – of your credit payment history across loan types and banks over a period of time.  The CIBIL score plays a key role in any loan application process. A low CIBIL Score may well lead to rejection of your loan application by the lender. On the other hand, if you have a high CIBIL score, your application is almost certain to warrant serious consideration.

CIBIL Score & Two-Wheeler Loan

As with any other loan, a high CIBIL score indicates you are a responsible borrower. Consequently, a score beyond 750 is considered reasonable when applying for a two-wheeler loan.

A higher CIBIL score can greatly increase the odds of a lower bike loan interest rate, making your loan more affordable. However, if you have a low credit score, you may have to adopt other strategies to secure the loan, such as making a larger down payment or arranging a co-signer.

IndusInd Bank Two-Wheeler Loans

A far cry from the complication and convolution of bank loan procedures, an IndusInd Bank bike loan promises to be simple and transparent. The table below presents a brief encapsulation of the features and procedure of a two-wheeler loan from IndusInd Bank:

Whether you are a student, a working individual, or a young family, a two-wheeler is sure to be a veritable asset, bringing in – as it will – a generous measure of convenience and comfort. If you have a good CIBIL score already and wish to take out a two-wheeler loan marked by all the pros and none of the cons, wait no further.

Apply for a two-wheeler loan with IndusInd Bank 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. 

A cost-effective method to purchase a car is to take a used car loan. It is important to look at interest rates, determine the car’s market value, know your credit score and look at all aspects of such loans. IndusInd Bank’s pre-owned car loan offers you end-to-end service, quick disbursement, competitive interest rates and up to 100% financing options.

Owning a car is a near-universal dream in India. However, not everyone in India has the means to purchase a brand-new vehicle. In such situations, buying a used car can be regarded as an economically favourable option. The demand for used cars has led to an unprecedented growth in this sector. Pre-owned cars are rapidly beginning to outpace the sale of new vehicles, and the market is expected to rise by 12-14% compound annual growth rate (CAGR).

Applying for a used car loan prevents your purchase from becoming a financial burden. Before you apply for a used car loan, there are several key aspects to consider. In this blog post, we shall explore what you need to know, to help you make an informed decision when you apply for a used car loan.

1. Know Your Credit Score

Your credit score plays a significant role in loan approval, and will affect the interest rate you will be offered for your pre-owned car loan. If you have a score of 750 and above, you are likely to qualify for better loan terms. If it is lower than 650, you may still be eligible, but might face higher interest rates.

2. Determine the Car’s Market Value

The value of a used car is typically determined taking the type and age of the vehicle, mileage, the state of its body, engine, gears, and other mechanical components into consideration. Therefore, it is important to make sure that the car you choose is in good condition. Used car loans are typically offered in keeping with this assessment rather than on the actual cost of the car.

3. Examine the Interest Rates Offered

Interest rates vary from lender to lender, based on factors like the age of the vehicle you wish to purchase, your credit score, loan amount, and tenure. Make sure to compare rates from multiple lenders to secure the best rates for yourself.

4. Choose Your Loan Amount with Care

There are several elements of a pre-owned car loan that you need to pay careful attention to. Begin by determining the loan amount you need to borrow. Consider how much you can comfortably afford to pay each month. Carefully plan out your loan tenure, as this will determine your EMIs, and a longer tenure may lower your monthly payments, but result in higher interest payments over time.

Why Get an IndusInd Bank Used Car Loan

IndusInd Bank is a leading player in the pre-owned car loan market, and offers consumers some of the best-in-the-industry terms and conditions. Let us examine the key benefits of an IndusInd Bank pre-owned car loan.

• Discover some of the most attractive used car loan offers. You may also estimate your monthly repayments with the handy used car loan EMI calculator.
• Benefit from straightforward eligibility criteria, minimal paperwork, doorstep banking assistance, and a speedy disbursement process.
• The bank provides an exhaustive string of services, from researching the preowned car you wish to purchase to finalising the deal and transferring the title, ensuring a hassle-free process.
• Secure up to 100% financing for your pre-owned car loan, up to INR 25 lakhs, subject to factors such as vehicle cost and credit parameters.
• IndusInd Bank offers flexible loan repayment tenures, typically ranging from 1 to 4 years for used car loans. Choose a tenure that aligns with your financial goals and monthly budget.

Applying for a used car loan with IndusInd Bank is a significant step towards owning the car of your dreams. Offering unmatched interest rates, and helpful end-to-end service, an IndusInd Bank pre-owned car loan is approved through a quick, transparent process, ensuring your path to car ownership is smooth and hassle-free.

Your perfect car is merely a click away, apply for a used car loan with IndusInd Bank 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. 

There are ways for both new and existing home loan borrowers to reduce their loan EMIs. These include a. choosing a longer repayment tenure b. making a bigger down payment c. negotiating for a lower interest rate d. making prepayments e. opting for home loan balance transfer. IndusInd Bank home loan is marked by a unique set of benefits, making it an ideal option for new and existing borrowers a like. 

For most home buyers, a home loan presents the most convenient option for purchasing their dream home. A home loan enables access to adequate funds while allowing the borrower to repay over an extended timeline. All the same, it is also the biggest liability, taking away a substantial portion of monthly income towards payment of Equated Monthly Instalments EMI. No wonder that home loan borrowers are constantly on the lookout for ways to lower their EMIs. Luckily, there are several ways for borrowers to reduce their home loan monthly payments.

The table below details 5 simple ways in which home loan borrowers – both new and existing – can reduce their home loan EMIs.

Home Loan from IndusInd Bank – What’s in it for You?

Whether you are a new home loan borrower or an existing one looking to lower their home loan EMIs, it is important to shop around and find a lender that offers a home loan with the most competitive interest rates as well as favourable terms and conditions.

A home loan from IndusInd Bank presents one of the best options for both categories of borrowers on account of the following benefits:

•  Competitive rate of interest
•  Home loan transfer facility
• Simplified documentation
• Transparent procedure with no hidden charges
• Doorstep assistance with quick and easy processing of home loan application
• Efficient and prompt customer service
• Option to select from inventory of pre-approved projects for funding
• Wide array of home loan products to choose from, including top-up loan, plot plus construction loan, home renovation loan, and specialised offerings to NRI customers among others.

With so many advantages, an IndusInd Bank home loan promises an excellent way forward to anyone looking to embark on, or restart a smooth home loan journey. 

Visit the IndusInd Bank website to apply for a home loan 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.