All About Two-Wheeler Loans

Embark on your two-wheeler loan journey! From eligibility checks to EMI calculations and default management to part-payment options, we've got your two-wheeler loan questions covered. Gain an expert insight on two-wheeler finance and ride confidently!

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Episodes

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E01: Things You Need to Know about Two wheeler Loans
03 mins
Two-wheeler loans can be secured or unsecured, with special schemes sometimes available for electric scooters. Interest rates can be fixed or floating, starting as low as 0.99%. Loan amounts cover up to 90% of the vehicle's on-road price, with tenures up to 4-5 years. Consider factors like downpayment, EMIs, and additional fees when choosing a bike loan. To ensure quick approval and easy repayment, check your credit score, arrange for a guarantor if needed, and provide all the required documents.
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E02: Two Wheeler Loan EMI Calculator Crunch the Numbers
03 mins
Two-wheeler loan EMIs are fixed monthly payments that allow gradual repayment of your bike loan. The EMI depends on the loan amount, interest rate, and tenure. Higher interest rates lead to higher EMIs and total repayment. Online EMI calculators simplify this process. They allow you to estimate your EMIs instantly when you enter your two-wheeler loan details. Use these calculators to easily estimate EMIs for different scenarios, helping you plan your finances effectively.
Frequently Asked Questions
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Lenders assess factors like income, credit score, employment stability, and age to determine your bike loan eligibility. Higher scores and stable income improve chances.
Yes. Online EMI calculators use your loan amount, interest rate, and tenure to instantly estimate your monthly two-wheeler loan EMI, aiding financial planning.
Defaulting can lead to late fees, penalties, and a damaged credit score. In severe cases, the lender may repossess your bike to recover the dues.
Contact your lender to discuss options like loan restructuring or settlement. Prioritise repayments and consider financial counselling to avoid future defaults.
Making part-payments reduces your outstanding two-wheeler loan balance, lowers future EMIs, shortens the loan tenure, and saves on interest.
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