Bandhan Bank provides its clients with a wide range of financial services and solutions that are customized to meet the personal and lifestyle needs of customers along with their budgetary requirements. The two-wheeler loan provided by Bandhan Bank to the potential applicants is designed to aid them in traveling independently without depending on any form of public transport. The applicants can avail substantial loan amounts at reasonable rates of interest, which can be repaid easily over a specified period.
The customers who wish to apply for two-wheeler loans from Bandhan Bank can take the benefit of the following alluring features and advantages these loans have to offer:
Lucrative, affordable and competitive rates of interest, with lower prices at 12% per annum.
The quick and straightforward process of approval.
The customer needs to provide minimal documentation.
Quick disbursal of loan amount after the approval by the bank.
The Customers can avail personalized assistance at the doorstep, to help them through every step of the loan approval and defrayal process.
The customers can repay their loans comfortably, with loan tenures stretching maximum up to three years
The loan repayments can be made through EMIs on a monthly basis either through the bank accounts or the ECS facility of the bank.
The customers can also avail additional benefits such as other insurance components, which can be acquired through the collaboration of the bank with significant insurance firms.
The applicants can apply for loan amounts ranging from a minimum of Rs.10,000 to a maximum of Rs. 1.5 lakhs
The loan can be repaid in a maximum tenure of 36 months.
The bank offers customers affordable and attractive interest rates on two-wheeler loans making it the most competitive in the market. At present, interest rates on Bike loans provided by the bank stand at 12% of the credit of all amounts and tenures.
Valid from April 1st, 2016, the Marginal Cost of Funds Based Lending Rates (MCLR) for Bandhan Bank loans have been fixed at 13.26% for a tenure of one year. These rates apply to all loans that the bank sanctions.
|Tenor of Loan||MCLR Rate|
For buying a two-wheeler loan through Bandhan Bank, the applicants are required to comply with the following eligibility criteria:
1. The applicant must be any one of the following:
A salaried applicant
An Independent professional
A self-employed applicant
2. The applicant must be of at least 23 years of age to apply for this loan.
3. The applicant must be a maximum of 65 years of age or the age of retirement at the end of the loan tenure, depending on whichever comes first.
Following are the documents required to submit when applying for a two-wheeler loan through Bandhan Bank:
1. Valid KYC documents such as identity proof, proof of address, and age proof.
2. Relevant documents are showing the income proof.
3. The bank statements from the previous six months.
4. A quotation or a report from the vehicle seller stating the intention to sell the vehicle to the applicant at the agreed price.
Q1. What are the extra fees that the bank may levy when acquiring a two-wheeler loan?
The applicants need to pay a processing fee stands at 3% of the loan amount provided by the bank along with the taxes that may be applicable. The documentation fees totaling to Rs 500 with charges may also be levied at the behest of the bank.
Q2. Can an applicant avail the two-wheeler loan if he or she does not have an account in Bandhan Bank?
No. All the applicants who are looking to avail a two-wheeler loan are required to have a savings account or a current account with the Bandhan Bank.