|
 |
TWO WHEELERS LOAN |
Do wish to own a two-wheeler?
Axis Bank´s Two Wheeler Loans could help realize your dreams. Whether you see it as an aspirational accomplishment or a necessary mode of transport, we've got you covered.
Features:
- Loans for salaried and self-employed individuals
- Attractive interest rates
- No income proof schemes available
- Special schemes for Axis Bank Salary and Priority accounts holders
- Loans available from Rs 20,000 to Rs 70,000
- Loans tenure from 1 Year to 3 years
- All of above is subject to terms and conditions.
Eligibility
Salaried Individuals
- Age (Commencement and Termination) - Between 18 years to retirement age
- Minimum Income - Rs 60,000 to Rs 75,000 per annum depending on the Two Wheeler Model.
- Income eligibility - As per latest salary slip or Form 16
- Margin - 15% to 20% depending on the Two Wheeler Model
Self-employed Individuals
- Age (Commencement and Termination) - Between 21 years and 60 years
- Minimum Income - Rs 60,000 to Rs 75,000 per annum depending on the Two Wheeler Model
- Income eligibility - As per latest ITR
- Margin - 15% to 20% depending on the Two Wheeler Model
* All of above is subject to terms and conditions.
Documents Required
- ID Proof
- Photograph
- Income proof
- Legal Documents and Application form
- Residence proof
- Dealer invoice
- Bank Statement for last 3 months
- RTO Forms set
Rate and Fees
Interest Rates The Bank offers very competitive interest rates on the loan amount. The current rate of interest is 17.00% per annum on a monthly reducing basis.
- Processing Fee:
2% of loan amount.
- Pre-payment charges:
4% of the balance outstanding
- Insurance:
The vehicle will be comprehensively insured for the full amount favouring the Bank
* All of above is subject to terms and conditions.
No Income Proof Scheme
Additional Features
1. For loans with Margin of 30% or above
2. Income Proof Documents need not be provided
Income Clubbing Scheme Additional Features
- Clubbed income of 2 individuals to be a minimum of Rs 7,000
- Clubbing allowed in the following relationships
1. Father and son or daughter
2. Mother and son or daughter
3. Husband and wife
* All of above is subject to terms and conditions.
|
|
|
