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Chola Two Wheeler Loan

Loanmani- Chola

Cholamandalam Investment and Finance Company Limited (Chola) is a leading non-banking financial company (NBFC) in India that offers a range of financial products and services, including Two Wheeler Loans. A Two Wheeler Loan from Chola is designed to help individuals purchase a two-wheeler vehicle such as a motorcycle, scooter, or moped without worrying about the upfront cost.

Chola offers competitive interest rates, flexible repayment options, and quick loan approval to help customers purchase their desired two-wheeler vehicle. With their hassle-free loan application process, you can apply for a Two Wheeler Loan from Chola online, by visiting their website or by visiting any of their branches.

Chola offers customized loan repayment options, with a tenure of up to 48 months. Additionally, you can benefit from features like online loan application and approval, quick disbursement of funds, and easy prepayment and foreclosure options.

10.00 %

Advertised Rate

12 - 48 Months

Available Terms

750

Credit Score

1 L - 10 L

Loan Amount

Why Choose Chola

  1. Attractive interest rates
  2. Minimal documentation
  3. Quick loan approval and disbursal
  4. Flexible repayment tenure
  5. Part-payment and foreclosure facility available
  6. Insurance cover for the two-wheeler


Chola Eligibility Criteria

  1. The applicant should be between 18 to 65 years old.
  2. The applicant should be a salaried or self-employed individual.
  3. The minimum income of the applicant should be Rs. 10,000 per month.


Chola Fees & Charges

  1. Processing fee: Up to 3% of the loan amount
  2. Documentation charges: Up to Rs. 500
  3. Penal interest: 3% per month on overdue EMI
  4. Prepayment charges: Up to 5% of the outstanding loan amount
  5. Stamp duty and other statutory charges as applicable


Chola Features & Benefits

  1. Quick loan approval and disbursal
  2. Flexible repayment tenure ranging from 12 months to 48 months
  3. Minimal documentation
  4. Competitive interest rates
  5. No hidden charges
  6. Loan up to 100% of the on-road price of the two-wheeler
  7. Part-payment and foreclosure facility available
  8. Insurance cover for the two-wheeler


Chola Required Documents

  1. Identity proof (Aadhaar card, PAN card, passport, driving license, or voter ID)
  2. Address proof (Aadhaar card, passport, driving license, or voter ID)
  3. Income proof (salary slips, bank statements, income tax returns, or Form 16)


FAQs on Chola Two Wheeler Loan

1.What is a Two Wheeler Loan?

A Two Wheeler Loan is a type of loan designed to help individuals purchase a two-wheeler vehicle such as a motorcycle, scooter, or moped. It is a secured loan where the two-wheeler itself serves as collateral for the loan amount.

2.What is the eligibility criteria for a Two Wheeler Loan from Chola?

The eligibility criteria for a Two Wheeler Loan from Chola may vary based on factors such as the loan amount, income, age, and credit score. However, generally, you need to be between 18 to 65 years old, have a steady income source, and meet the credit score requirements set by the lender.

3.How much can I borrow through a Two Wheeler Loan from Chola?

The loan amount that you can borrow through a Two Wheeler Loan from Chola may depend on various factors, including your income, credit score, and the cost of the two-wheeler vehicle you wish to purchase. Typically, lenders may offer a loan amount of up to 85% of the two-wheeler's cost.

4.What is the tenure of a Two Wheeler Loan from Chola?

The tenure of a Two Wheeler Loan from Chola may vary based on your repayment capability and the loan amount. Generally, the tenure for such loans can range from 12 months to 48 months.

5.What is the interest rate for a Two Wheeler Loan from Chola?

The interest rate for a Two Wheeler Loan from Chola may depend on factors such as the loan amount, tenure, credit score, and income. Typically, the interest rate may range from 12% to 27% per annum.

6.Can I prepay or foreclose my Two Wheeler Loan from Chola?

Yes, you can prepay or foreclose your Two Wheeler Loan from Chola. However, the terms and conditions for prepayment or foreclosure may vary based on the loan agreement.

7.How can I apply for a Two Wheeler Loan from Chola?

You can apply for a Two Wheeler Loan from Chola online by visiting their official website or by visiting any of their branches. You will need to provide your personal and financial details, along with the details of the two-wheeler vehicle you wish to purchase.

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