Two-wheelers are famous for their easy commuting. They have high marketing growth because of the price value and affordability. The ongoing demand from 2015 to 2024 shows us that more two-wheeler loans will disburse. The sale pitch was in the year 2019. Ample banks, NBFCs and mini financial firms disburse quick loans.
Fill in a couple & more details with e-document submission and you’re all set for approval. The processing may take a few hours, but it depends on your credit history too. Make use of Buddy Loan app to apply for a two-wheeler loan. You’re updated via SMS and can track the loan.
Buddy Loan is one of the biggest loan aggregators who takes in the KYC and lists down lenders for you. Avail a two-wheeler loan by contacting the lender thereof. Buddy Loan, till date, has procured 80% approval rate.
Read more: What is the maximum amount I can get as a two-wheeler loan?
There are multiple lenders who can initiate a two-wheeler loan. Yet, if they decline the loan request at first application, you can still opt from other lenders.
Features & advantage of a two-wheeler loan!
The finance and the non-finance bodies disburse two-wheeler loans for on road price. At Buddy Loan the two-wheeler loan request doesn’t need a collateral for approval.
Since two-wheeler loans do not need a heavy amount, repayment tenure is huge (3 months to 5 years). This is adequate time to schedule and repay the loan on time without defaulting.
Two-wheeler loan EMIs are customizable thereof. If you have a tight income, you can discuss this with your lender to customise the EMI for a longer tenure.
Banks & NBFCs do disburse two-wheeler loans for second hand bikes and scooters. You will require the market value of the vehicle, if you’re opting a second-hand bike. Even an estimated price will do!
Two-wheeler loans have low-interest rates starting at 11.99%p.a. They do not need heavy funding and this can make your calculations easy. You can afford a two-wheeler easily at one tap.
You can come across numerous dealers and deals for a two-wheeler of your choice. Explore your choices wisely and claim the warranty services. Your repayment will have nothing to do with it.
A two-wheeler loan policy meets all the fundamental financial requirements for the vehicle. You can review with your lenders and get back to Buddy Loan.
Choose the best option for Two-Wheeler Loan Online Approval:
Applying for a scooter or a bike finance online is no longer difficult. Your dream bike is within your reach, so make the right decision. There are various elements in a personal loan you must be aware of.
The documents (3 types) you produce to the loan platform, app (Buddy Loan app) will help increase your loan approval rate.
Read more: Make the Best Use of Two-Wheeler Loan!
You can avail a loan anywhere from Rs.1000/- to Rs. 15 Lakhs. You can avail how much ever money you want with the mentioned loan amount. Buddy Loan collates your information and lists a couple of lenders you can choose from.
The lenders can customise your loan tenure within 3 months to 5 years, to help you plan your livelihood with the income you draw. So, you can choose a repayment plan out of 60 months. This will help you maintain your bike expenses and maintenance.
The repayment capacity can not only affect your credibility but also your future loan eligibility.
The key features of an instant two-wheeler loan are:
- Two-wheeler loan instant approval: It is not rocket science to get a buddy loan for a two-wheeler, and the entire process comprises of simple procedure which provides instant approval for the application. Any person with a decent income and employment has a good credit rating and shows a relevant reason to use the product can be approved a two-wheeler loan in no time.
- Bike loan applied online: It is a completely hassle-free process which does not require you to go to any lender. The loan can be applied for online, and the entire application and document submission takes place in just a click. Instant approval is given, and the borrower can be a proud owner of a bike in no time.
- Second-hand bike finance: The buddy loan is not only for new two-wheelers but also for second-hand drives. Again, as per the pocket allowance of each individual, many would find applying for second-hand two-wheelers a more appealing option. Today, we avoid the trauma of the hues of long queues and traffic jams caused by four-wheelers. Our narrow roads cannot adjust big and mid-segment vehicles, so this loan helps in saving time and money by applying for a two-wheeler, also saving on money, fuel, and maintaining a pollution-free regime.
- Low-interest rates: Low-interest rates and a good credit rating are offered on the application of the loan for having a two-wheeler. A bike or a scooter within the affordability range depending on the latest models available can fetch high-interest rates and low EMIs.
- Smooth documentation, approval, and disbursal: The online process of the two-wheeler buddy loan application is inconvenient and straightforward steps. You need to be ready with accurate documentation. Once the form is duly filled, the approval is instant, and after a quick, subtle verification, the disbursal of the loan takes place.
- Availability of loan – lenders: Banks, NBFC, Local lenders welcome the buddy loan applicants offering them a low rate of interests and low EMIs on the required loan. The value, interest and other monetary calculations depend on the credit history of the borrower and his goodwill. his ability to repay, employment and past experiences of buddy loans undertaken are all taken into consideration.
- Low down payments and EMI schemes: Many buddy loans come fully covered and as times for newbies, minimal down payment is required to be made. the rest of the amount is conveniently converted into fixed low EMIs which need to pay off on the prescribed date in the prescribed time range offered by the lender after appropriate documentation.
- Registration and Insurance coverage: While applying for a buddy loan and on its disbursal, key factors like Insurance of the vehicle and legal registration is undertaken by the lender to avoid legal issues.
You could buy a two-wheeler with any CC, even a 150cc bike i.e. under 80% production rate in India. Today, two-wheeler loans or any vehicle loan takes less time for approval. Buddy Loan is one of the leading giants in sourcing your request to the lenders. Make use of the high loan approval rates and low interest rate medium at Buddy Loan.