FAQs
FAQs
How does credit score impact the Two Wheeler Loan interest rates?
Credit score determines your creditworthiness as a borrower. The lender evaluates your repayment capacity based on it. Consequently, deciding interest rates as well.
What factors affect the Two Wheeler Loan interest rates?
The interest rate is influenced by the total cost of the bike, your credit score, and your income.
Can I lower my two-wheeler loan interest rate?
You might get better loan terms if you have a good credit score and a stable income.
How is the EMI calculated on a two-wheeler loan?
The EMI for a Two-Wheeler Loan is calculated using the EMI formula P x R x (1+R)^N / [(1+R) ^N-1], where P is the principal loan amount, R is the rate of interest, and N is the number of months.
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