Two Wheeler Loan for RE Classic 350
RE or Royal Enfield is the name of the brand under which they sell motorcycles, bicycles and stationary engines. Classis 350 is launched by the Royal Enfield in two colors. You can easily apply for a two wheeler loan online on www.bookmyloans.in . The price of the bike is Rs.1,61,934.
Two Wheeler Loan
A two-wheeler loan lets you borrow money from the banks or other non-banking organizations. The banks are always preferred than the non-banking financial companies. Oriental Bank of Commerce is well known for its services. The bank lends you money to buy a two-wheeler specifically for this kind of loan. You have to return this loan within the tenure of the loan. This loan is a special-purpose loan you can’t use this amount of loan for other purposes.
Secured or Unsecured
A two-wheeler loan comes under the category of secured loan. In this loan, you pledge your vehicle that you are going to buy at the bank as a security. If you won’t return two-wheeler loan the bank will bound your vehicle.
Features of Two-wheeler Loan
- The two-wheeler loan is available online.
- A person can easily apply for the two-wheeler loan online on his/her mobile, there is no need to go to the branch.
- You can get a two-wheeler loan if you are 18 years.
- The minimum requirement of the salary for the two-wheeler loan is Rs. 7000.
- The rates of interest are very reasonable and affordable in the two-wheeler loan.
- Two wheeler loans are available all over India.
- The tenure of the loan is from one to three years.
- First of all the applicant should be a citizen of India.
- After that, the age of the applicant should be 18 years at least.
- Only a person with a source of income can apply for a two-wheeler loan.
- Applicant should have two passports sized colored recent photographs. Applicant should not be wearing glasses.
- Applicant should have some identity proof. It can be a( voter ID card/PAN card/ Aadhar Card/passport/driving licence)
- Furthermore, a residence proof is also needed. It can be a( voter ID card/PAN card/ Aadhar Card/passport/driving licence/ration card/utility bills/rental agreement)
Amount of Loan
The bank provides Rs. 20000 and it can be up to Rs. 1.5 Lakhs, and can be Rs. 35 Lakhs for the super premium bikes.
Rates of Interest
Rates of interest are 11.50% per annum and onwards it depends on your income and time period of the loan too
How to Apply?
First of all search for www.magicloans.in on google on your mobile.