How do I get a loan for my bike?

[patilsuraj]

How do I get a loan for my bike?

[KartikBhatt]

A bike is an essential need now. To fulfil this requirement one can go for a bike loan that facilitates having this need fulfilled. There are now a number of financial institutions around us that provide loans for purchasing a bike. You can follow the steps to have a bike loan approved in a hassle free manner.

1. First in the process is to choose the vehicle model that you wish to buy. Decide which brand’s bike you want along with the type of the bike, whether a regular one, sports one etc.

2. Next, check your loan eligibility with the lender you wish to get the loan. You can check this with the help of a two wheeler loan eligibility available at the shriram city union finance’s online platform. There you will get all the information about the loan amount, interest as well as the tenure. In most of the cases one generally gets upto 5 to 6 times of the annual income.

3. Now calculate the EMI that you will likely pay. Use the emi calculator for this and plan accordingly. Enter the details of the bike you want to get the indicative prices.

4. Apply for the loan after you have decided the lender you want to take the loan from. Do consider the interest rates that a lender charges. Lower the rate, the better it is for you. The interest rates for bike loans with shriram city are highly competitive and hence affordable. You will have to provide the personal details along with financial information. Also provide the appropriate information regarding the bike like RTO location, dealers name, on road price etc.

5. Finally submit the documents and complete the process of loan approval. One the lender verifies all of them you will have the loan disbursed very soon directly into your bank account.