With a lot of banks eager to give you loans, you can easily buy the latest two-wheeler without worrying about the expenses. However, before choosing a loan, here are some important points to keep in mind so that you get the best bargain. <\/p>\n\n\n\n
Before you apply for two-wheeler loan<\/a>, ensure that you qualify for availing the loan. For this, check with your lender\u2019s eligibility requirements for a two-wheeler loan. <\/p>\n\n\n\n To avail\na two-wheeler loan, salaried individuals must \u2013<\/p>\n\n\n\n Eligibility\ncriteria for self-employed individuals \u2013<\/p>\n\n\n\n In case of the applicant not satisfying above mentioned criteria, a co-applicant satisfying the criteria can be added. Additionally, do not neglect your CIBIL or Credit score as it plays a key role in approval of your two-wheeler loan application. <\/p>\n\n\n\n The rate of interest on your two-wheeler loan is the crucial deciding factor in the amount of money you will need to set aside each month towards loan repayment. So, it is vital to choose a lender offering the most lucrative interest rates out there. Do not make hasty decisions and zero-in on the first lending authority you find. Instead, compare the interest rates offered by different banks and then, conclude.<\/p>\n\n\n\n Lenders\nwant to convince themselves of your creditworthiness as a borrower and your\nability for future loan repayment, and for this, you will be asked to furnish a\nfew essential documents depending upon whether you’re a salaried individual or\na self-employed individual. This could include basic documents such as \u2013<\/p>\n\n\n\n *even customers without 6 months banking history can be funded; however, LTV\u2019s will be restricted<\/p>\n\n\n\n Without\na solid repayment plan in place, you will find yourself staring right into an\nabyss of defaulted payments and major hassles down the road. So, take action\nfrom the very beginning! It all starts with making the right choice of loan\ntenure. Do not stretch your loan for too long in a bid to reduce your monthly EMIs.\nYour loan tenure should be decided after taking your monthly income into\nconsideration. If you can afford to pay off your loan early, then do so by all\nmeans since it is always better to close the loan early than too late. <\/p>\n\n\n\n Once done, make it a discipline to set aside your monthly EMI at the beginning of the month and work your other monthly expenses around it. Opt for automatic payments with your bank; such steps thin out your chances of defaulting on a monthly EMI payment.<\/p>\n\n\n\n The bottom line is that a two-wheeler loan comes with many benefits \u2013 besides giving you the independence of commuting as and when you please, it enables you to meet emergency situations with ease. Plus, due to easy EMI options, repaying your two-wheeler loan is easier than ever \u2013 a little planning goes a long way! Looking for your ideal two-wheeler loan? Get in touch with us for customized two-wheeler loan<\/a><\/strong> details! What you can expect is attractive interest rates, flexible loan tenure of up to 36 months, quick loan processing, and easy and hassle-free documentation.<\/p>\n\n\n\n Disclaimer:<\/strong> 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.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" With a lot of banks eager to give you loans, you can easily buy the latest two-wheeler without worrying about the expenses. However, before choosing a loan, here are some important points to keep in mind so that you get the best bargain. Loan Eligibility Criteria Before you apply for two-wheeler loan, ensure that you…<\/p>\n","protected":false},"author":13,"featured_media":2823,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\n\n\t\n","_links":{"self":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts\/2816"}],"collection":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/comments?post=2816"}],"version-history":[{"count":4,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts\/2816\/revisions"}],"predecessor-version":[{"id":18459,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/posts\/2816\/revisions\/18459"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/media\/2823"}],"wp:attachment":[{"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/media?parent=2816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/categories?post=2816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indusind.bank.in\/iblogs\/wp-json\/wp\/v2\/tags?post=2816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Interest Rates<\/strong><\/h2>\n\n\n\n
Documents Required<\/strong><\/h2>\n\n\n\n
Check with the bank before you proceed<\/strong><\/h2>\n\n\n\n
Repayment Plan<\/strong><\/h3>\n\n\n\n
Last Few Words<\/strong><\/h3>\n\n\n\n