Financial Glossary

The Ultimate Guide About Online Two Wheeler Loan

Buying your two-wheeler is no more a dream! Save yourself from heavy traffic jams and worries of public transportation and commute conveniently with your two-wheeler. But how do you buy a two wheeler loan with a strained monthly budget? The answer is by taking a two-wheeler loan.

Two-wheeler loans are conveniently available for people of varied ages and income groups, at flexible payment terms and reasonable interest rates. You do not need to even visit the lender’s office and apply for an online two-wheeler loan from the comfort and safety of your own home. 

Eligibility for Applying for an Online Two-wheeler Loan

You are eligible to apply for an online two-wheeler loan if you meet the following criteria:

  • The loan applicant has to be a minimum of 18 years old, and his age should not exceed 65 years before the loan tenure completes. 
  • The loan applicant should have a regular source of income. For a salaried applicant, the minimum salary he draws has to be Rs. 96,000 per year. For a self-employed applicant, the income required is Rs. 1,20,000 per year at least. 

Documents required for Applying for an Online Two-wheeler Loan

The documents required to apply for an online two-wheeler loan are very simple.

  • Valid identity proof of the applicant
  • Valid address proof of the applicant
  • Income proof of the applicant 
  • Recent passport-size photograph of the applicant 

You can upload all these documents online while applying for a two-wheeler loan online. 

How to Apply for an Online Two-wheeler loan

You can conveniently apply for an online two-wheeler loan using the below-mentioned steps:

  • Visit the online portal of the lender you wish to take your loan from. Navigate to the two-wheeler loan sections and tap on the ‘apply now’ button. 
  • Open the application form and enter your basic details. These details form the elementary information needed from your end, like your name, contact number, and email address. 
  • Request a One Time Password and enter it in the online form. 
  • Answer the related questions like the two-wheeler brand you want to buy, etc., and proceed further. 
  • From the given list, select the state where you live and click continue to the next point of selecting the district where you reside.
  • Fill in all the required details including the details of your income and the loan amount you need. 
  • Select your gender and fill in the applicant’s Date of Birth.
  • Carefully read all the terms and conditions of the privacy policy of the lender and if you are comfortable with them, click okay.
  • Once you complete this online process, the lender will send you a reference number on your registered mobile number. 
  • You can save this reference number and use it in future to follow up on your loan inquiry. 
  • Shortly, a company representative will contact you to help you complete the online two-wheeler loan process. 

You can get a two-wheeler loan from a reputed name like Muthoot Capital to get the benefits of quick processing, low interest rates starting from only 0.99%, transparent processing, and 100% funding of the loan amount. Get your two-wheeler loan today with minimum documentation and customised EMI options to suit your needs with Muthoot Capital.

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