Aditya Birla Capital offers a Two Wheeler Loan to individuals who want to purchase a two-wheeler, such as a motorcycle or scooter. The loan covers the cost of the vehicle and can be repaid in monthly installments over a fixed period. The loan is available for Indian residents who have a regular source of income, are between 21 to 65 years of age, and meet the company's eligibility criteria. Aditya Birla Capital's Two Wheeler Loan offers loan amounts starting from Rs. 10,000 up to a maximum of Rs. 1.5 lakhs, with loan tenures ranging from 12 months to 36 months. The loan is unsecured, which means there is no collateral required. The interest rate for the loan starts at 10.75% per annum and may vary based on various factors, including the borrower's credit score, loan amount, and repayment tenure. Individuals can apply for the loan online or by visiting any Aditya Birla Capital branch and submitting the required documents.
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1.What is Aditya Birla Capital's Two Wheeler Loan?
Aditya Birla Capital's Two Wheeler Loan is a type of loan offered to individuals who want to purchase a two-wheeler, such as a motorcycle or scooter. The loan covers the cost of the vehicle and can be repaid in monthly installments over a fixed period.
2.What are the eligibility criteria for Aditya Birla Capital's Two Wheeler Loan?
To be eligible for Aditya Birla Capital's Two Wheeler Loan, you must be a resident of India and have a regular source of income. You must also be at least 21 years of age and not more than 65 years of age at the time of loan maturity.
3.How much loan can I get?
The loan amount you can get depends on various factors, including your income, credit score, and the cost of the two-wheeler. Aditya Birla Capital offers loans starting from Rs. 10,000 up to a maximum of Rs. 1.5 lakhs.
4.What is the loan tenure for Aditya Birla Capital's Two Wheeler Loan?
Aditya Birla Capital offers loan tenures ranging from 12 months to 36 months. You can choose the tenure that suits your repayment capacity.
5.How can I apply for Aditya Birla Capital's Two Wheeler Loan?
You can apply for Aditya Birla Capital's Two Wheeler Loan online or by visiting any Aditya Birla Capital branch. You will need to submit some documents, such as identity proof, income proof, and address proof, along with the loan application.
6.What is the interest rate for Aditya Birla Capital's Two Wheeler Loan?
The interest rate for Aditya Birla Capital's Two Wheeler Loan starts at 10.75% per annum. The interest rate may vary based on your credit score, loan amount, and repayment tenure.
7.Can I prepay the loan?
Yes, you can prepay the loan. However, you may be charged a prepayment penalty of up to 5% of the outstanding loan amount.
8.What happens if I miss an EMI payment?
If you miss an EMI payment, you will be charged a late payment fee. This may also impact your credit score, making it difficult for you to get loans in the future. It is advisable to repay your loan on time to avoid any such penalties or impact on your credit score.
9.Is there any collateral required for Aditya Birla Capital's Two Wheeler Loan?
No, Aditya Birla Capital's Two Wheeler Loan is an unsecured loan, which means there is no collateral required.
10.Can I transfer my existing two-wheeler loan to Aditya Birla Capital?
Yes, you can transfer your existing two-wheeler loan to Aditya Birla Capital, subject to the company's terms and conditions.