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Bank Of Maharashtra Two Wheeler Loan

Loanmani- Bank Of Maharashtra

Bank of Maharashtra's two wheeler loan is a convenient and affordable option for customers who want to purchase a motorcycle or scooter. The bank offers competitive interest rates, flexible repayment options, and minimal documentation requirements. Additionally, Bank of Maharashtra offers quick loan processing and excellent customer service, making it a popular choice among customers.

8.00 %

Advertised Rate

1 - 5 Years

Available Terms

750

Credit Score

1 L - 3 L

Loan Amount

Why Choose Bank Of Maharashtra

  • Wide network of branches across India
  • Competitive interest rates
  • Hassle-free documentation process
  • Quick loan approval and disbursal


Bank Of Maharashtra Eligibility Criteria

  • Age: Minimum 18 years
  • Income: Minimum net monthly income of Rs. 10,000
  • Employment: Salaried, Self-employed, Agriculturist, and Professionals


Bank Of Maharashtra Fees & Charges

  • Processing Fees: Up to 0.50% of the loan amount (Minimum of Rs. 500)
  • Documentation Charges: Rs. 250
  • Prepayment Charges: No prepayment penalty if the loan is prepaid from own sources
  • Late Payment Charges: 2% per month on the overdue amount


Bank Of Maharashtra Features & Benefits

  • Easy and hassle-free loan application process
  • Attractive interest rates
  • Flexible repayment tenure
  • No prepayment penalty if the loan is prepaid from own sources
  • Quick loan approval and disbursal


Bank Of Maharashtra Required Documents

  • KYC documents
  • Proof of Income
  • Bank statement
  • Two-wheeler quotation


FAQs on Bank Of Maharashtra Two Wheeler Loan

1.What is a Bank of Maharashtra Two Wheeler Loan? 

A: Bank of Maharashtra Two Wheeler Loan is a type of loan provided by the bank to help customers purchase a two-wheeler, such as a motorcycle or scooter. The loan can be used to purchase new or used two-wheelers.

2.What is the interest rate for Bank of Maharashtra Two Wheeler Loan? 

A: The interest rate for Bank of Maharashtra Two Wheeler Loan varies based on factors such as the loan amount, the customer's credit history, and the cost of the vehicle. The interest rate can range from 9.25% to 10.50% per annum.

3.What is the maximum loan amount I can get for Bank of Maharashtra Two Wheeler Loan? 

A: The maximum loan amount for Bank of Maharashtra Two Wheeler Loan is up to 90% of the on-road price of the vehicle. However, the loan amount may be lower based on the customer's eligibility and other factors.

4.What is the repayment period for Bank of Maharashtra Two Wheeler Loan? 

A: The repayment period for Bank of Maharashtra Two Wheeler Loan can range from 12 months to 60 months, depending on the customer's preference and eligibility.

5.Can I prepay my Bank of Maharashtra Two Wheeler Loan? 

A: Yes, you can prepay your Bank of Maharashtra Two Wheeler Loan. However, there may be prepayment charges, which will depend on the terms and conditions of the loan.

6.What documents are required to apply for Bank of Maharashtra Two Wheeler Loan? 

A: The documents required to apply for Bank of Maharashtra Two Wheeler Loan may include identity proof, address proof, income proof, and vehicle-related documents such as registration certificate and insurance.

7.How can I apply for Bank of Maharashtra Two Wheeler Loan? 

A: You can apply for Bank of Maharashtra Two Wheeler Loan online by visiting the bank's website or by visiting any Bank of Maharashtra branch. You can also apply through a dealer if you are purchasing a vehicle from a dealer.

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