Onam Delights: Special Two-Wheeler Loan Offers for Onam

Onam is a festival heralding joy and prosperity. This annual harvest and cultural festival brings new enthusiasm. On the other hand, you can magnify your happiness by bringing the bike home you have always desired. With the best two-wheeler loan offered by Muthoot Capital, you are never far from your dream bike. If you’ve been waiting for the right time to buy that dream bike, these Onam-special loan deals are just for you.

Onam: Kerala’s Festival of Renewal

Onam is a vibrant festival celebrated predominantly in Kerala, India, marking the Malayalam New Year. It commemorates the annual return of the mythical King Mahabali, whose reign was considered a golden era of prosperity and fairness. Considering this, what can be a better occasion to give your life a new pace with a bike? Muthoot Capital has brought astounding offers on 2-wheeler loans that will help you finance your desired bike.

Why Consider Buying During Onam?

Purchasing a bike is not only a financial decision but an emotional one as well. There are two major reasons that you should consider when buying a bike on Onam. The first is an auspicious occasion. Thus, your purchase automatically becomes memorable, and the celebrations are doubled. Another prominent reason is that you get exciting deals during festivals.

Most dealers may offer you discounts or additional benefits for the moment. In addition to this, you can get affordable two-wheeler finance from Muthoot Capital. This Onam, enjoy several attractive schemes that promise to make your two-wheeler purchase easier and more affordable than ever. Here’s what you can look forward to:

Low Down Payment Onam Special Offer

• Affordable Entry: Start your journey with a down payment as low as Rs 5555.
• Flexible Tenure Options: Choose up to 48 months of tenure to spread out your payments.

Some other offers that you get around the festive season are also mentioned below.

Blockbuster Deals on Two-Wheeler Loans

• Competitive Interest Rates: Starting as low as 0.99%, these loans are designed to be light on your wallet.
• Streamlined Processing: Enjoy low processing fees coupled with the convenience of instant approval.
• Simple Documentation: Forget the hassle of cumbersome paperwork.
• Online EMI Payment: Easily manage your EMIs through the Muthoot One App or at your nearest Muthoot FinCorp Branch. You can use a two-wheeler loan EMI calculator for convenience.

Must Read: Benefits of Two-wheeler Loans for Women

Empower Women

• Tailored for Women: This scheme supports women riders with longer tenures of up to 42 months and 100% funding of the on-road price.
• Instant Approval & Easy Documentation: Get quick approvals without the paperwork headache.
• Convenient Payment Options: The Muthoot One App easily manages your loans.

Festive Bonanza for Salaried Class

• Full Financing: Salaried individuals can enjoy 100% financing of the on-road price.
• Special Processing Fee Rates: Benefit from reduced processing fees designed for salaried employees.
• Extended Tenure: Repayment is made easier with options extending up to 48 months.

Festive Offer on High-End Two-Wheelers

• High Loan Amounts: Get loans up to Rs 3 lakhs with 95% funding of the on-road price.
• Longer Tenure: Flexible repayment terms of up to 48 months make it easier to manage your finances.

Smart Plus Two-Wheeler Loan

• Gold-Backed Financing: Leverage your gold assets to secure special offers on two-wheeler loans.
• 100% On-Road Price Funding: Don’t worry about upfront costs; get total financing.
• Rapid Processing: Enjoy instant approval and straightforward documentation.

Eligibility Criteria for Two-Wheeler Loan Offers

Securing a loan for your dream two-wheeler is made simpler with user-friendly bike loan eligibility criteria designed to accommodate a wide range of applicants. Here’s what you need to know to qualify for these fantastic Onam 2-wheeler loan offers:

• Age Requirement: Applicants must be between 18 years at the time of application and 65 years at the end of the loan tenure.
• Income Threshold: Individuals need an annual income of Rs 96,000. For business owners, the annual profit requirement is Rs 1,20,000.
• Credit Score: A good credit score enhances your chances of quick approval, emphasising scores that demonstrate consistent financial responsibility.

Required Documentation

The documentation process is streamlined to ensure a hassle-free application experience:

• Identity Proof: One of the following – Passport, Aadhaar Card, Voter ID Card, Driving License, or PAN Card.
• Address Proof: Options include a Passport, Aadhaar Card, Voter ID Card, Driving License, utility bills (telephone, electricity, gas), ration card, or LIC policy.
• Income Proof: Income Tax Return (ITR), Form 16, recent pay slips, or salary credit as shown in bank statements are acceptable.
• Asset Proof: Recent land, building, or house tax receipts.
• Photograph: A recent passport-sized photo is necessary to complete your application.

Application Process for Two-Wheeler Loans

Applying for a two-wheeler loan during Onam is simple: you can quickly get approval and start riding your new bike or scooter. Follow these steps to apply:

  1. Online Application:

• Visit the official website and click on ‘Apply Now’.
• Fill out the application form with your personal and financial details.
• Enter the OTP sent to your registered mobile number for verification.
• Apply after verifying all the details are correct.

  2. Select Your Bike:

• Choose the model of the bike or scooter you wish to purchase. This will determine the specifics of the bike loan offer INR, such as the amount and tenure.

  3. Document Submission:

• Upload or provide the necessary documents as listed in the bike loan eligibility criteria.
• Ensure all documents are valid and up-to-date to avoid any delays.

  4. Loan Approval:

• Once your application and documents are verified, the loan can be approved swiftly, thanks to the streamlined process for festive offers.

   5. Finalise the Loan:

• A customer care representative will contact you to finalise the loan details.
• Discuss and confirm the repayment schedule, interest rates, and any final queries you might have.

   6. Disbursement:

• Upon final approval, the loan amount will be disbursed, allowing you to purchase your two-wheeler on time for Onam.

Must Read: How to Choose the Best Two Wheeler Loan?

Why These Offers are Beneficial

These carefully crafted loan offers are not just about selling loans; they’re about facilitating your dreams of owning a two-wheeler with terms that make financial sense:

• Reduced Costs: Low interest rates and minimal down payments reduce your financial burden.
• Convenience: Quick approvals and easy documentation processes save time and effort.
• Flexibility: A range of options ensures there’s something for every buyer, whether you’re a salaried professional or an aspiring woman entrepreneur.

Making the Most of These Offers

To truly benefit from these Onam 2-wheeler loan offers:

• Evaluate Your Needs: Consider what model suits your lifestyle and choose a bike loan offer INR that matches.
• Check Eligibility and Terms: Ensure you meet the eligibility criteria and understand the loan terms before applying.
• Plan Your Finances: Take advantage of the low down payments and flexible repayment terms to plan your finances better. 

Onam brings more than just festivities; it offers a golden opportunity to purchase your dream two-wheeler with favourable terms. Take advantage of these special loan offers, and make this Onam a milestone in your journey of mobility and independence.