Shriram Finance, being India’s leading Non-Banking Financial Company, intends to support millions of average households buy their bike. Their loans empower the community by strengthening personal prosperity and business growth. The two-wheeler loan is no exception to this. Shriram Finance has designed easily accessible and full cost loans in a customer-friendly manner to stand by people who decide to go for their dream. Through this article, the procedure to apply for a loan and its prerequisites are described fruitfully. Keep reading to understand the structure and procedure.
Basic Info Regarding a Two-wheeler loan
A two-wheeler loan permits you to purchase a motorcycle or a scooter of your choice and pay for it in equated monthly installments (EMIs). Two Wheeler Loan applies to both salaried and self-employed professionals. Once your loan application has been approved and finalized by the authority, you can ride out a two-wheeler of your choice without further interruption.
How to Apply for Two Wheeler Loan in Shriram Finance
Shriram Finance, being India's leading financier, has designed a user-friendly application process with ease of documentation. Their nationwide reach and hassle-free application process have been the center of attraction. The procedure to apply for a two-wheeler loan has been described in the following simple steps.
Apply Online
Getting your dream bike is now just one click away with this two-wheeler loan. Apply through Shriram Finance online application portal. Submit a few details and go on within only 5 minutes.
Upload Documents
Uploaded documents will be subjected to verification.
Disbursement
Once the documents get approved, the loan will be sanctioned and will later be credited to the dealer’s bank account.
In this way, fulfill your dreams within minutes with the help of Shriram Finance Union Finance Limited.
Eligibility Criteria for a Two Wheeler Loan
Once you decide to apply for Two Wheeler Loan, the next step is to match the eligibility criteria. Besides having client-friendly loan policies, we decided to set the requirements in such a way so that it matches with the maximum pool of our consumers. The eligibility for a two-wheeler loan mostly depends on the age of an applicant, Income, Employment & Residential Stability, Experience, CIBIL™ Score. The detailed list of eligibility criteria is given below.
- The age of applicants during application should be at least 21 years and during maturation no more than 59 years.
- Both Salaried and Self-employed people are eligible for this loan.
- Minimum Experience for a salaried applicant is one year of work with a minimum INR 12000/month salary. While for a self-employed applicant, it is two years of continuous involvement in the same business.
- The applicant must be living in the same address for at least one year.
- The applicant must declare all the pre-existing loan commitments.
- The applicant must declare all the pre-existing loan commitments.
- The applicant appreciates a good CIBIL™ Score and Credit Bureaus.
Documents Required to Avail a Two-Wheeler Loan:
To apply for Shriram Finance two-wheeler loan, the following documents are required by the customers:
- Aadhar Card (Mandatory)
- Identity Proof (PAN Card/ Voter ID card/ Driving License/ Passport)
- Address Proof (Passport/ Driving License/ Gas Bill with Gas Book)
- Any of the following
- Recent Passport size colour photograph.
- Income Proof Documents (Bank Statement for the last six months)
- One canceled Cheque and ACH form for Electronic Clearing Mandate
- Vehicle Registration Certificate that is duly endorsed on receipt for New Vehicles.
Exciting Features of Two Wheeler Loan
Shriram Finance has made a strong mark in the retail industry and continued the glory. Millions of people have been able to afford a two-wheeler with the help of Shriram Finance Two Wheeler Loan. The following are the exciting features of this loan policy. Check out:
- Shriram Finance loan provides up to 100%* financing on the on-road price of the bike of your choice.
- Get your application done with a single form.
- Shriram Finance provides the quickest Two Wheeler loan in India with the disbursal of the loan amount in just 24 hours of your loan being approved.
- Shriram Finance Union Finance is found in more than 2,875+ branches nationwide.
- It involves a fast, easy, and minimum documentation process.
- Shriram Finance provides two-wheeler loans with interest rates starting from 11.5%*p.a.
The Tenure of Shriram Finance Two Wheeler Loan
Shriram Finance two-wheeler loan is accompanied by a flexible duration of 12 months to 36 months.
The Maximum Loan Amount Offered by Shriram Finance Union Finance for Two Wheelers
Shriram Finance Two-Wheeler Loan offers a wide range of loan amounts depending upon eligibility of applicants with a maximum of up to 100% loan amount.
Final Thoughts
Before availing the two-wheeler loan, please make sure that you have gone through all the steps that are mentioned to purchase your favourite two-wheeler. Read the eligibility criteria, and the necessary required documents carefully. Shriram Finance intends to serve the community with the best possible loan policies to let people fulfill their dream
The details of a two-wheeler loan and the simple steps required to apply for it are described in a detailed way in this article.
