Two Wheeler Loan - Overview

Documents

• Identity proof: Aadhaar card, Passport, Voter ID, Driving License
• Address proof: Aadhaar card, Passport, Voter ID, Driving License, utility bill
• Income proof: Salary slips, bank statements, ITR

Fees & Charges

• Processing fees: Up to 3% of the loan amount
• Prepayment charges: 5% of the outstanding loan amount
• Late payment charges: 3% per month on the overdue amount

Think About

• Attractive interest rates
• Simple and hassle-free documentation process
• Quick loan disbursal
• Wide network of branches and ATMs for easy access and repayment options.

Eligible Criteria

• Age: 18-65 years
• Employment: Salaried or self-employed
• Income: Minimum net monthly income of Rs. 20,000 for salaried and Rs. 6,000 for self-employed individuals
• Credit score: A good credit score

Documents

1. Proof of identity (Aadhaar card, PAN card, Voter ID, Passport, etc.)
2. Proof of address (electricity bill, telephone bill, etc.)
3. Income proof (salary slips, bank statements, ITR, etc.)
4. Two Wheeler insurance copy
5. Photographs

Fees & Charges

1. Processing fee: Up to Rs. 3,500 or 1% of the loan amount (whichever is higher).
2. Late payment charges: 2% per month on the overdue amount.
3. Foreclosure charges: Nil.
4. Prepayment charges: Nil.
5. Stamp duty and other statutory charges as applicable.

Think About

1. Quick and easy processing with minimal documentation.
2. High loan to value ratio up to 95% of the on-road price of the vehicle.
3. Flexible repayment tenure ranging from 1 year to 3 years.
4. No prepayment or foreclosure charges.
5. Option to avail of top-up loans on existing loans.
6. Doorstep service for loan disbursement.

Eligible Criteria

1. The applicant must be an Indian citizen.
2. The minimum age of the applicant should be 21 years and the maximum age should be 65 years.
3. The applicant should have a minimum gross income of Rs. 25,000 per month.

Documents

• Filled application form with photograph
• Identity proof: PAN card, Aadhaar card, passport, driving license, voter ID card
• Address proof: Aadhaar card, passport, driving license, voter ID card, utility bills
• Income proof: Latest salary slip or Form 16, bank account statement of the last 6 months

Fees & Charges

• Processing fee: Up to 3% of the loan amount
• Late payment charges: 2% per month on the outstanding amount
• Prepayment charges: 5% of the principal outstanding

Think About

• Attractive interest rates and flexible repayment tenure
• Minimal documentation and quick approval
• No collateral or security required

Eligible Criteria

• The minimum age of the applicant should be 21 years and the maximum age should be 65 years.
• The applicant should have a regular source of income.

Documents

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

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

Think About

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

Eligible Criteria

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

Documents

• Proof of identity (such as Aadhaar card, passport, or driving license)
• Proof of address (such as Aadhaar card, passport, or utility bill)
• Proof of income (such as salary slips, bank statements, or ITR documents)
• Photographs (passport size)
• Two-wheeler registration certificate (in case of a used vehicle)

Fees & Charges

• Processing fee: Up to 3% of the loan amount, subject to a minimum of Rs. 2,000 and a maximum of Rs. 10,000.
• Prepayment charges: No prepayment charges for loans up to Rs. 20,000. For loans above Rs. 20,000, prepayment charges are 3% of the outstanding principal.
• Late payment charges: 2% per month on the outstanding amount.
• EMI bounce charges: Rs. 500 per bounce.

Think About

• Quick and hassle-free loan processing
• Competitive interest rates
• No foreclosure charges
• Online loan account access
• Flexible repayment tenure of up to 48 months

Eligible Criteria

• Age: The borrower should be at least 21 years old and no older than 65 years old.
• Income: The borrower should have a minimum monthly income of Rs. 10,000.
• Credit score: A good credit score is preferred, but the bank may consider borrowers with a lower credit score on a case-by-case basis.
• Residential status: The borrower should be a resident of India.

Documents

1. Identity proof: Aadhaar card, Voter ID card, PAN card, or passport.
2. Address proof: Aadhaar card, Voter ID card, driving license, passport, or utility bill.
3. Income proof: Salary slip or bank statement for the last six months.
4. Passport-size photographs.

Fees & Charges

1. Processing fee: Up to 3% of the loan amount.
2. Prepayment charges: Up to 5% of the outstanding principal amount.
3. Late payment charges: 2% per month on the overdue amount.
4. Cheque bounce charges: Rs. 500 per bounce.
5. Documentation charges: Rs. 500.

Think About

1. Competitive interest rates.
2. Flexible repayment options.
3. Quick and hassle-free application process.
4. Minimal documentation.
5. Doorstep service available.

Eligible Criteria

1. The applicant must be between 18 to 65 years of age.
2. The applicant should have a minimum income of Rs. 10,000 per month.
3. The applicant must have a valid driving license.
4. The applicant should be a resident of India.

Documents

• Duly filled application form
• Identity proof (Aadhaar card, PAN card, voter ID card, driving license, passport)
• Address proof (Aadhaar card, voter ID card, driving license, passport, utility bills)
• Income proof (salary slips, bank statements, IT returns)
• Two passport-sized photographs
• Proforma invoice of the vehicle

Fees & Charges

• Processing fee: Up to 3% of the loan amount
• Documentation charges: Rs. 999
• Late payment charges: 2% per month on the overdue amount
• Prepayment charges: Nil

Think About

• Competitive interest rates
• Easy and hassle-free loan application process
• Quick loan disbursal
• No prepayment charges
• Flexibility to choose the loan tenure and repayment method

Eligible Criteria

• The applicant must be at least 18 years old at the time of application and must not exceed 65 years at the end of the loan tenure.
• The applicant must have a minimum monthly income of Rs. 7,000.
• The applicant must have a good credit score and a clean credit history.
• The applicant must have a valid driving license and be the owner of the vehicle.

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)

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

Think About

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

Eligible 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.

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)
4. Two-wheeler quotation

Fees & Charges

1. Processing fee: Up to 2% 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

Think About

1. Quick loan approval and disbursal
2. Loan up to 100% of the on-road price of the two-wheeler
3. Flexible repayment tenure
4. Part-payment and foreclosure facility available
5. Minimal documentation

Eligible Criteria

1. The applicant should be at least 21 years old.
2. The applicant should be a salaried or self-employed individual.
3. The minimum income of the applicant should be Rs. 15,000 per month.

Documents

• Proof of identity (Aadhaar Card, Passport, Voter ID, Driving License, PAN Card)
• Proof of address (Aadhaar Card, Passport, Voter ID, Driving License)
• Two passport-size photographs
• Income proof (salary slips, bank statements, ITR, Form 16)

Fees & Charges

• Processing Fee: Up to 3% of the loan amount
• Prepayment Charges: 5% of the principal outstanding
• Late Payment Charges: 3% per month on the unpaid installment
• Cheque Bounce Charges: Rs. 750 per bounce

Think About

• Kotak Mahindra Bank offers attractive interest rates on Two Wheeler Loans.
• The bank offers quick and hassle-free loan approval with minimal documentation.
• The bank provides flexible loan repayment options with a tenure of up to 3 years.
• The bank offers loan up to 90% of the on-road price of the two-wheeler.
• The bank has a wide network of branches across India, providing easy access to its customers.

Eligible Criteria

• The applicant must be a resident of India
• The minimum age of the applicant should be 18 years
• The maximum age of the applicant at the time of loan maturity should be 58 years
• The applicant should have a stable source of income
• The applicant should have a good credit score

Documents

1. Identity proof - Aadhaar card, PAN card, Voter ID, or Passport
2. Address proof - Aadhaar card, Passport, Driving License, or Voter ID
3. Income proof - Latest salary slip or bank statement for the last three months for salaried individuals, and audited financial statements for the last two years for self-employed individuals
4. Two passport size photographs
5. Proforma Invoice of the vehicle to be purchased

Fees & Charges

1. Processing fee - Up to 3% of the loan amount
2. Late payment charges - 3% per month on the overdue amount
3. Foreclosure charges - 4% of the outstanding principal amount
4. Part-payment charges - 4% of the part-payment amount

Think About

1. Competitive interest rates starting from 8.50% per annum.
2. Loans up to 100% of the on-road price of the vehicle are available.
3. Flexible repayment tenures of up to 36 months are available.
4. Quick and hassle-free loan processing with minimal documentation requirements.
5. No hidden charges.

Eligible Criteria

1. The minimum age of the applicant should be 21 years and the maximum age should be 65 years at the time of loan maturity.
2. The applicant should have a minimum income of Rs. 20,000 per month.
3. The applicant should have a minimum of one year of continuous employment or business stability.

Documents

1. Identity Proof - PAN Card, Aadhaar Card, Passport, Driving License
2. Address Proof - Aadhaar Card, Voter ID, Passport, Utility bills
3. Income Proof - Latest salary slips, bank statements, Income Tax Returns

Fees & Charges

1. Processing fee - Up to 1% of the loan amount
2. Documentation charges - Rs. 500
3. Penal interest - 2% per month on the overdue installment amount
4. Foreclosure charges - Up to 3% of the outstanding principal amount
5. Prepayment charges - Nil if the loan is prepaid from own sources

Think About

1. Wide network of branches and ATMs across India
2. Competitive interest rates
3. Quick loan approval and disbursal
4. Flexible repayment options
5. Customized loan solutions based on the borrower's requirements

Eligible Criteria

1. The applicant should be at least 18 years old at the time of loan application
2. The applicant should have a valid driving license
3. The applicant should have a steady source of income

Documents

1. Identity Proof - PAN Card, Aadhaar Card, Passport, Driving License
2. Address Proof - Aadhaar Card, Voter ID, Passport, Utility bills
3. Income Proof - Latest salary slips, bank statements, Income Tax Returns

Fees & Charges

1. Processing fee - Up to 1% of the loan amount
2. Documentation charges - Rs. 500
3. Penal interest - 2% per month on the overdue installment amount
4. Foreclosure charges - Up to 3% of the outstanding principal amount
5. Prepayment charges - Nil if the loan is prepaid from own sources

Think About

1. Wide network of branches and ATMs across India
2. Competitive interest rates
3. Quick loan approval and disbursal
4. Flexible repayment options
5. Customized loan solutions based on the borrower's requirements

Eligible Criteria

1. The applicant should be at least 18 years old at the time of loan application
2. The applicant should have a valid driving license
3. The applicant should have a steady source of income

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)

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

Think About

1. Attractive interest rates
2. Minimal documentation
3. Quick loan approval and disbursal
4. Flexible repayment tenure
5. Part-payment and foreclosure facility available

Eligible Criteria

1. The applicant should be at least 18 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.

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)

Fees & Charges

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

Think About

1. Quick loan approval and disbursal
2. Minimal documentation
3. Loan up to 100% of the on-road price of the two-wheeler
4. No down payment required
5. Flexible repayment tenure
6. Part-payment and foreclosure facility available
7. Insurance cover for the two-wheeler

Eligible 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. 15,000 per month.

Documents

• Duly filled loan application form.
• Identity proof (Aadhaar Card, Passport, Voter ID, etc.).
• Address proof (Driving license, Passport, Electricity bill, etc.).
• Income proof (Salary slips, Income Tax Returns, bank statements, etc.).
• Two wheeler quotation.

Fees & Charges

• Processing fees: Up to 3% of the loan amount.
• Foreclosure charges: No charges for foreclosure or prepayment.
• Late payment charges: 3% per month on the overdue amount.

Think About

• Competitive interest rates.
• Easy and hassle-free loan disbursal.
• Flexible repayment tenure.
• No prepayment charges.
• Online loan application.

Eligible Criteria

• The applicant must be a salaried individual or a self-employed individual with a regular income.
• The minimum age of the applicant should be 21 years.
• The maximum age of the applicant at the time of loan maturity should not exceed 65 years.
• The applicant should have a good credit score and a stable employment/business history.

Documents

1. ID proof (Aadhaar card, Voter ID card, Passport, or Driving License)
2. Address proof (Aadhaar card, Voter ID card, Passport, or Driving License)
3. Income proof (Salary slips of the last 3 months, ITR, or bank statements)

Fees & Charges

1. Processing fee: Up to 3% of the loan amount
2. Prepayment charges: Up to 7% of the principal outstanding
3. Late payment charges: 2% per month on the overdue amount
4. Documentation charges: Up to Rs. 1,000
5. Penal interest: 2% per month on the overdue amount

Think About

There are several reasons why choosing Fullerton India's Two Wheeler Loan could be a smart choice for individuals looking to purchase a two-wheeler vehicle. Here are some of the key benefits of choosing Fullerton India:

• Competitive interest rates: Fullerton India offers competitive interest rates on its Two Wheeler Loans, making it easier for customers to manage their finances.
• Flexible repayment options: Fullerton India offers flexible repayment options ranging from 12 months to 48 months, enabling customers to choose a repayment tenure that suits their financial needs.
• Quick loan approval and disbursal: Fullerton India's simple and hassle-free loan application process ensures that loan approval and disbursal take place quickly, typically within 24 to 48 hours.
• High loan amount: Fullerton India's Two Wheeler Loans offer a maximum loan amount of Rs. 20 lakhs, providing customers with the funds they need to purchase their dream two-wheeler.
• Easy documentation: Fullerton India's Two Wheeler Loan application process requires minimal documentation, making it easy for customers to apply for and avail of the loan.
• No prepayment charges: Fullerton India allows customers to prepay their loan at any time during the loan tenure without any prepayment charges.

Eligible Criteria

1. The applicant must be an Indian citizen or a resident.
2. The minimum age of the applicant should be 21 years and the maximum age should be 65 years.
3. The applicant should have a minimum monthly income of Rs. 15,000.