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Jammu & Kashmir Bank Two-Wheeler Loan
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An industry-leader in financing automobiles, J&K Bank two-wheeler loan can be used to purchase two-wheelers of any kind and model. The bike loan provides various customer-centric benefits that enable the borrower to buy the vehicle without any hassles.

Features and Benefits of Jammu and Kashmir Bank Two Wheeler Loan

The below-described functions make a two-wheeler loan from Jammu and Kashmir Bank as one of the most desirable loan products in the credit market of automobiles.

1. Through the two-wheeler loan from J&K bank, the customers can buy any two-wheeled vehicle of their choice such as motorcycles, scooters, battery-operated scooters,  and mopeds.

2. The bank offers a high credit loan quantum which may be either 18 times the net salary of the borrower on a monthly basis or 90% of the showroom price whichever will be less in case of bike loans up to Rs.75,000.

3. For loans of over Rs.75,000, either 75% of the showroom price of the two-wheeler or 18 times the net monthly salary of the applicant will be offered as the loan quantum by the bank.

4. The J&K Bank also provides resilient mandate of two-wheeler loan repayment for maximum up to 60 months.

5. Just after the payment of the first installment of the loan, comprehensive insurance coverage will be provided for the two-wheeler by the J&K Bank.

Documentation Required for J&K Bank Two-Wheeler Loan

The loan borrower will be asked to submit the following documents for applying:

1. ID and address proof

2. Passport size photographs

3. Filled application form

4. If the applicant is salaried, then salary slips and ITR statements for the previous three months will be required.

5. The required documents may differ depending on the type of employment and source of the applicant's income. Request information from J&K Bank to get a complete list of documents required, before proceeding with the process of loan application.

FAQs

Q1. How is the repayment capacity for J&K two-wheeler loans checked by the bank?

The deduction from the income of borrower including the loan EMIs must not go beyond 60% of the gross income of the applicant.

Q2. Will I incur any processing fee for two-wheeler loan from Jammu and Kashmir Bank?

Yes, 0.5% of the total loan amount has to be paid as processing fees.

Q3. Being a self-employed individual, do I need to give any security to avail the loan?

Yes, a guarantee of one person is required to avail the loan. However, in case the employer drawing the income through Jammu and Kashmir Bank, no security is needed.

Q4. Being a pensioner, am I eligible for J&K Bank two-wheeler loan?

Yes, all pensioners drawing the pension through Jammu and Kashmir Bank are eligible to avail the two-wheeler loan.

Q5. What is the maximum age of the applicant required at the time of the end of the loan tenure?

The maximum age of a salaried applicant should be 65 years at the time of loan maturity.