GE Money Two-Wheeler loan provides an array of benefits like fascinating interest rates, accommodating options of tenure, and hassle-free loan process. With an extensive network of branches across India to cater the loan requests, the two-wheeler loan from GE Money help customers in fulfilling their dreams of owning a motorbike.
The features mentioned below make GE Money two-wheeler loan as one of the most preferred loan products in the financial market.
1. Hassle-Free Loan Process:
The process of acquiring a loan is transparent and spontaneous.
2. Easy Application Process:
With more than 700 channel partners across India, the applicant can visit the dealer, select the favorite bike, and apply for a two-wheeler loan at the showroom itself.
3. Inexpensive Rates of Interest:
The highlights of the loan are its affordable interest rates
4. Flexible Repayment Period:
The customers can choose a comfortable tenure in the range of 8 months to 36 months to repay the loan.
|Loan Processing||Fee As applicable|
|PDC Swap Charges||Rs.500|
|Duplicate NOC Statement||Rs.750|
|Cheque Bounce fees||Rs.500 to Rs.700 depending on the EMI number|
|Penalty Charges||2.5%/month on the outstanding amount, EMI plus the bounce charges|
Generally, the documents required for two-wheeler loan processing are based on the nature of employment of applicant and the source of income. The application processing is faster if the applicant provides all the required documents promptly.
Filled application form with the signatures and photographs
Income Proof - salary slips and ITR statements
Q1. How much time does it take for GE Money to approve the two-wheeler loan?
The loans from GE Money get approved in very less time. Also, the applicant can present the credit card to get instant approval. In any case, the loan will be passed in less than 24 hours.
Q2. Can I foreclose my GE Money two-wheeler loan?
Yes, the loan amount can be repaid before the stipulated end date. However, a nominal foreclosure penalty will be imposed by the company.
Q3. What are the pre-payment charges?
After the loan gets disbursed, up to six months of tenure the prepayment is not allowed. For the two-wheeler loans with the period of more than six months, 5% of the loan amount or Rs.500 whichever would be higher, will be levied as a prepayment penalty.
Q4. Will I be offered insurance coverage?
Yes, here are the charges mentioned:
|Insurance Fees||3.54% of EMI|
|Personal Accident Cover||Rs.5 lakhs|
|Credit Shield||Maximum Loan outstanding of Rs.1 lakh|
Q5. What is the minimum period for GE Two-Wheeler loan?
The borrowers can choose a minimum tenure of 8 months up to 36 months to repay the loan.