The process of availing a personal loan is quite simple and hassle free. You just need to go through the application process, select the product that you want, and submit it. You can also get the loan sanctioned on the date you want as per your convenience. The LoanTap online application is user-friendly and very flexible where you can choose any of our products or services, such as finance term plan or EMI etc., and choose your repayment schedule in order to manage your monthly obligations.
A huge chunk of the population use two-wheelers as a mode of transportation to commute daily. And why shouldn’t they? Bikes and mopeds have a better resale value; also they come with low maintenance costs and are convenient to keep. Two-wheeler loans are undoubtedly one of the biggest growing industries in India. With Muthoot Capital’s flexible repayment options, getting a two-wheeler loan approved has become one of the most convenient processes.
6 Advantages of applying for a two-wheeler loan instead of purchasing a two-wheeler.
- Takes off a huge burden:
A two-wheeler loan can be the best financial decision you make. They come with a fixed interest rate of nominal interest and you don’t need to worry about falling into the trap of debt for a long time. You can pay it off quickly at a nominal price which means that you are spending less money every month on your bike. So, if you are dreaming of owning a high quality bike without any hassle then Muthoot Capital will help you out with our Premium Bike Loan up to a whopping 5 lakh rupees.
- Helps with your CIBIL Score:
The CIBIL score is a summary of your history in loan credits and repayments over a period of time. Because the cost of buying a two-wheeler is less, it makes two-wheeler loans the easiest of all the loans to be paid off and it is an opportunity for young professionals to start off with their CIBIL Scores.
- Attractive interest rates:
Interest rates for two wheeler loans in India vary from 12% to 27%. These varying interest rates depend on the bank/financial institutions you approach, your time of employment, income range, specifications etc. The banks and NFBCs have current two-wheeler loans at very affordable rates, which has dropped over the past few years.
- Eligibility across Income range:
If you are someone who is looking out to get a bike loan or have been through the loan process, you must be familiar with the various repayment offers given by different banks. Now, imagine having all this ease in the repayment of loans. If that is possible for those who are getting a bike loan approved, then it is useful for you to know about Muthoot Capital and its easy credit plans with low EMI outflows and only interest.
- Additional benefits:
Did you know that Muthoot Capital funds about 100% of the on-road value in pre-approved loans and can go on to fund up to the complete invoice amount which will also include accessories. Also, the loan covers any extra costs incurred such insurance and the cost for accessories and registration.
- Flexible and quick process:
In the past, it was impossible to get a loan directly from banks and save them the time and effort of processing your loan application. With online lending, you don’t have to go through this rigmarole and stand in queues; all you need to do is fill in your details, upload videos of your vehicle for security purposes and request a quote. Usually, you receive an approval in under 24 hours! Once approved, you can apply for a loan using our fast-track system.
Now you don’t have to worry about loans. Muthoot Capital will showroom and confirm your loan requirement with our business partners, only if you have a sanction letter. You can just come with the letter with you and we will work on it in no time.
