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.
Terms & Conditions of Bank of Baroda Two Wheeler Loan:
- 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.
- 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.
