For those individuals who prefer to travel more conservatively or to get to their destinations faster, a two-wheeler is as much a boon as it is to a car owner. With newer models coming out each year, the options available to the customer are both attractive as well as convenient.
Bank of Baroda's Two Wheeler Loan make it possible to purchase a two-wheeler and pay back in easy monthly instalments, thereby reducing the burden of a one-time payment.
All resident Indians, salaried, professionals, self-employed, businessmen and farmers can apply for this loan.
One year MCLR + Strategic Premium + 4.00%
Two Wheelers: 2% of Loan amount
Minimum Rs. 1000/-
- Finance for a minimum of Rs. 5000 and a maximum of Rs. 1 Lakh (or five times of the monthly income, whichever is less) can be availed of through the loan.
- Eligibility Based on Bureau Score
- Margin of 10% on loan amount.
- The loan amount can be repaid in maximum 60 months from the date of disbursement of loan.
- As a security, the vehicle to be purchased out of the loan is to be hypothecated to the bank.
- For loan exceeding Rs. 50000, a third party guarantee and / other securities like NSC, Share certificates, etc or a mortgage of property owned.
- The vehicle will have to be insured with the bank's clause.