Address

• Muthoot Capital Services Ltd. 3rd Floor, Muthoot Towers M.G. Road, Kochi - 682035 Kerala, India
• CIN: L67120KL1994PLC007726
• GST Number: 32AADCM1805H1ZZ

4. Least Documentation

While applying for a bike loan, you only need to submit minimal documents. The paperwork is kept to a minimum for a better borrowing experience. The documents asked for include identity proof, residence proof and income proof. This simplicity makes it easy for you to apply and get quick approval without a lot of complications. Read More : Best Way to Buy a Bike on EMI

5. Up to 100% Loan Schemes

You can avail of up to 100% of the loan scheme for some bike models. Depending on the model of your bike and the scheme selected, you can get loans up to 100%. The loan amount eligibility depends on the borrowers’ income, dream bike models and credit scores.

6. Low Down Payment

Before you apply for a bike loan online, you must know the down payment required. With 100% financing, the down payment required by Muthoot Capital is zero. If necessary, as per your eligibility, the down payment charged by Muthoot Capital is low. The bike loan schemes are also designed to suit the customer’s financial requirements.

7. No Income Proof Required

Muthoot Capital provides loans on three bases- income base, no income base and asset proof base. A borrower can choose to go for any of these while filling out the two-wheeler loan application form. The services availed by various bases differ from one another. However, you can take the bike finance without providing any income proof.

8. Minimal Processing Charges

Muthoot Capital keeps processing charges minimal to ensure that your overall borrowing cost is low. There are no hidden charges that will catch you by surprise.

9. No Pre-Closure Charges

If you wish to close your loan early, you will not be charged any pre-closure fees. This gives you the flexibility to pay off your loan ahead of time without worrying about extra costs.

10. Speedy Approvals and Disbursals

Muthoot Capital prides itself on offering speedy approvals and disbursals. Once your loan is approved, the funds are quickly disbursed, allowing you to get your bike and start your journey without unnecessary delays. Read More : Zero Down Payment Bike

11. Tax Benefits for Business Use

If you're purchasing the bike for business purposes, you can avail yourself of tax benefits. The bike can be considered a business expense, which can help reduce your tax liability. Now that you know all the benefits of a bike loan, fill out the online application today! You can also choose to calculate your eligibility and loan EMI beforehand to be prepared for future challenges. You must schedule your expenses accordingly not to strain your pocket and keep the loan manageable. Muthoot Capital provides bike finance for salaried and self-employed individuals 18-65 years old. It allows for the lowest two-wheeler EMI and interest rates as low as 0.99%. The process of applying for a bike loan is easy and you must use the EMI calculators online to help you decide on a comfortable loan structure.

FAQs

What is the minimum CIBIL score required for a bike loan?

The minimum CIBIL score for a bike loan is typically 650, but the higher the score, the better the loan terms.

How can I check my bike loan status?

You can check your bike loan status online through the Muthoot Capital website or mobile app by logging in to your account.

What documents are required for a bike loan?

The basic documents required for a bike loan are identity proof, address proof, and income proof.

What is the best bike loan interest rate?

The best bike loan interest rate starts at 0.99% per annum, but the exact rate depends on factors such as the vehicle model, your employment status and credit profile.

Can I get a loan on an old bike?

Yes, you can apply for a loan on an old bike or a used bike loan online. However, the loan terms and interest rates may vary based on the bike's age and condition.

What is the repayment tenure for a bike loan?

The repayment tenure for a bike loan can range from 12 months to 60 months, depending on your financial situation and preferred EMI.

Are there any processing charges for a bike loan?

Muthoot Capital keeps the processing charges minimal to ensure a cost-effective borrowing experience.

Are there any pre-closure charges for a bike loan?

No, Muthoot Capital does not charge any pre-closure charges. You can pay off your loan early without incurring additional fees.

Can I avail of tax benefits for a business bike loan?

Yes, if you purchase the bike for business use, you can avail of tax benefits on your bike loan.

How long does it take to get my bike loan approved?

The approval process is quick, and once your documents are verified, you can receive your loan approval and disbursal within a day.