Exclusive Two-Wheeler Loan Scheme for Salaried Employees

Considering the skyrocketing prices of vehicles, it is often difficult to manage the cost of a new bike with regular savings. For employees with set salaries, owning a motorbike is sometimes challenging. This is where financing choices such as a Two-Wheeler Loan come in handy. This credit facility bridges the gap between you and your favourite bike by offering the necessary funds.

What is Two-Wheeler Loan Scheme?

A Two Wheeler Loan is a financial instrument that gives people the money they need to buy a bike or scooter. This is how it operates: 

• Loan Amount: At Muthoot Capital, we provide loans up to 100% for specific models under specific schemes.
• Tenure: Lenders like Muthoot Capital offer you a flexible repayment tenure of up to 48 months.
• Interest Rates: Competitive interest rates because salaried workers have a steady income, managing the loan becomes easier.

Why Salaried Employees Should Consider a Two-Wheeler Loan?

Read these major reasons why a salaried employee must consider getting a Two-Wheeler Loan scheme. 

• Financial Planning

It’s advisable to maintain liquidity to avoid making a payment that could impact your available funds for other expenses. This way, you can use your money for goals and still purchase a two-wheeler. 

• Quick Approval and Disbursement:

Loan approvals happen quickly, thanks to simplified procedures and less paperwork. Some lenders enable you to acquire your two-wheeler immediately with immediate approval and disbursement. 

• Flexible EMI Options:

Use the Two-Wheeler Loan EMI Calculator to select an EMI plan that fits your budget. This tool uses the loan amount, length of time, and interest rate to help you determine the most economical monthly payment.

• Minimum or Zero Down Payment:

Numerous programs provide up to 100% financing, which lessens the upfront cost. This is especially advantageous for people who don’t have a sizable down payment saved up.

• Insurance Cover:

An optional insurance plan to guard your loan from unanticipated events. It gives you comfort to know that your loan payments are secured.

Using a Two-Wheeler Loan EMI Calculator For Better Financial Planning

It’s a good idea to utilise a Two-Wheeler Loan EMI calculator before applying for a loan. With this tool, you can: 

• Estimate Monthly Payments: To determine your EMIs, enter the loan amount, length, and interest rate. This will help you understand how much money you will need each month.
• Plan Finances: Recognise how the loan will affect your monthly spending. This guarantees that you won’t experience financial hardship when managing your costs.
• Review Offers: Based on the affordability of the EMI, compare several loan options. This aids in your selection of the most economical loan choice.

Things to keep in mind when taking a Two-Wheeler Loan

Here are some common aspects to keep in mind when taking out a Two Wheeler Loan Finance: 

• Rates of Interest

The interest rates for a Two-Wheeler Loan at Muthoot Capital start from 6.99%.

• Tenure of Loan

You can easily repay the loan within a flexible repayment tenure of 12 to 48 months. 

• LTV (loan-to-value) ratio

At Muthoot Capital, you can get up to 100% funding of the total cost of the bike.

Must Read:- Two Wheeler Loan: Things to consider before you apply

How to Apply for a Two-Wheeler Loan with Muthoot Capital

It is easy to apply for a two-wheeler loan if you meet our eligibility criteria and have the required documents.

The process for applying for our two-wheeler loan online:

• Click on ‘Apply Now’
• Fill in your personal information
• Fill in the OTP shared on your registered mobile number
• Click submit
• Choose the bike model
• A customer care representative will contact you to help you complete the process.

*You can call us directly at 1800 102 1616 or walk into your nearest branch.

Conclusion

With better eligibility criteria, fast approval processes, and manageable payment plans, these loans are designed for individuals with regular (salaried) income. By utilising resources such as the EMI Calculator for Two Wheeler Loans and evaluating bike financing options for salaried individuals, you can discover the favourable offer and get home the bike you desire.