Yes. Students can apply for a special two-wheeler loan in Hyderabad by submitting their ID proof. However, you will need a co-applicant who meets our two-wheeler loan eligibility criteria to sign this loan
The common two-wheeler loan repayment process is to pay back your loan principal with applicable interest rates at equated monthly instalments. Using Muthoot Capital’s two-wheeler loan EMI calculator, you can calculate your affordable EMI for comfortable repayment. It will help you determine an EMI and tenure that suits your budget.
Here are the documents you require when you buy a bike on EMI. ID proofs – Aadhaar, voter Id, passport or a driving license.
Yes, income proofs are one of the documentation requirements for a bike loan to avail best offers, however, it is not mandatory. You will have to submit your bank statements and payslips as income proofs to avail a bike loan.
The benefits of a two-wheeler loan include fast loan approval, nominal two-wheeler loan fees and charges, interest rates starting from 0.99%, up to 100% of the bike’s on-road price as the loan amount, hassle-free documentation and access to special schemes.
Yes, buying a bike loan on EMI lets you purchase your dream bike at attractive interest rates, fast processing and minimum paperwork. The loan can be repaid in the form of down payments and manageable pocket-friendly EMI's.
Apply for a two-wheeler loan online by filling the online application form by Muthoot Capital. After filling the application form, submit the documents, get online approval, and transfer the amount to your bank account.
The formula for calculating the EMIs a bit complicated. However, for your understanding, there are three main components used - principal loan amount, interest rate and loan tenure which is calculated in months. Instead of spending time understanding the formula, you can easily calculate your EMI with our easy-to-use and fast used car EMI calculator.
You need the following documents:
- Income proof in the form of ITR or Form 16.
- Address proof in the form of passport, Aadhaar card, voter Id card, / voters ID card / driving license / utility bills/ ration card / LIC policy.
- Identity proof in the form of Passport, Aadhaar card, driving license, PAN card, Voter’s Id card
- Asset proof in the form of land/ house/ building tax receipt
- The filled application form and a recent passport size photograph.
- Determining your EMIs becomes easy with our used car loan calculator.
Apart from the interest rate you pay as part of the EMI component, there are nominal processing charges and applicable taxes you may have to pay one-time. The used car loan EMI calculator can help you figure out the monthly installment - just remember, the processing charge is a one time fee.