Kotak Mahindra Bank offers Two Wheeler Loans to help individuals purchase their dream two-wheeler vehicle such as a motorcycle or a scooter. The loan is available for both salaried and self-employed individuals who are Indian residents and between the ages of 21 and 65.
The maximum loan amount offered by Kotak Mahindra Bank for a Two Wheeler Loan is up to 100% of the on-road price of the two-wheeler vehicle, and the loan repayment tenure ranges from 12 to 48 months. The interest rates for a Two Wheeler Loan from Kotak Mahindra Bank start from 11.50% per annum, and a processing fee is charged, which is a one-time charge of up to Rs. 1,500 or 2% of the loan amount, whichever is higher.
Adding a co-applicant can increase the chances of loan approval and also help in getting a higher loan amount. It is important to ensure timely repayment of the loan to avoid any legal consequences and seizure of the two-wheeler vehicle.
Advertised Rate
Available Terms
Credit Score
Loan Amount
1.What is a Two Wheeler Loan?
A Two Wheeler Loan is a type of loan that is provided by banks and financial institutions to help individuals purchase a two-wheeler vehicle such as a motorcycle or a scooter.
2.Who is eligible for a Two Wheeler Loan from Kotak Mahindra Bank?
Individuals who are Indian residents and between the ages of 21 and 65 can apply for a Two Wheeler Loan from Kotak Mahindra Bank. The loan is available for both salaried and self-employed individuals.
3.What is the maximum amount of loan that can be availed for a Two Wheeler Loan from Kotak Mahindra Bank?
Kotak Mahindra Bank offers Two Wheeler Loans up to 100% of the on-road price of the two-wheeler vehicle. The maximum loan amount varies depending on the model of the two-wheeler vehicle and the borrower's income.
4.What is the loan repayment tenure for a Two Wheeler Loan from Kotak Mahindra Bank?
The loan repayment tenure for a Two Wheeler Loan from Kotak Mahindra Bank ranges from 12 to 48 months.
5.What are the interest rates for a Two Wheeler Loan from Kotak Mahindra Bank?
The interest rates for a Two Wheeler Loan from Kotak Mahindra Bank vary depending on the model of the two-wheeler vehicle and the borrower's income. The interest rates start from 11.50% per annum.
6.Is there a processing fee for a Two Wheeler Loan from Kotak Mahindra Bank?
Yes, there is a processing fee for a Two Wheeler Loan from Kotak Mahindra Bank. The processing fee is a one-time charge of up to Rs. 1,500 or 2% of the loan amount, whichever is higher.
7.Can a co-applicant be added to a Two Wheeler Loan from Kotak Mahindra Bank?
Yes, a co-applicant can be added to a Two Wheeler Loan from Kotak Mahindra Bank. Adding a co-applicant can increase the chances of loan approval and also help in getting a higher loan amount.
8.What are the documents required to apply for a Two Wheeler Loan from Kotak Mahindra Bank?
The documents required to apply for a Two Wheeler Loan from Kotak Mahindra Bank include identity proof, address proof, income proof, and proof of two-wheeler vehicle ownership.
9.Can a prepayment be made on a Two Wheeler Loan from Kotak Mahindra Bank?
Yes, a prepayment can be made on a Two Wheeler Loan from Kotak Mahindra Bank. However, prepayment charges may apply, which vary depending on the loan amount and the prepayment amount.
10.What happens if the borrower defaults on the Two Wheeler Loan from Kotak Mahindra Bank?
If the borrower defaults on the Two Wheeler Loan from Kotak Mahindra Bank, the bank can take legal action and also seize the two-wheeler vehicle. It is important to ensure timely repayment of the loan to avoid any such consequences.
Our goal at loanmani is to provide with the best suitable loan considering your finanacial eligibility we beleive that there is a lender for every borrower.Apply now to get the best offers for your need of unsecured personal loan, unsecured business loan, home loan, loan against property,car loan and any other loan requirement.
© Copyright 2022 | LM Loanmani Marketing Service Pvt. Ltd.