Manage Money

Mahindra Financing Two-Wheeler Loan
Total rating: 0

There was a period when owning a vehicle was a luxury. Now, having a vehicle has become more of an exigency than an extravagance. In a highly populated country like India where the public transportation means are insufficient and unsafe, having your own vehicle  provides complete comfort and convenience. But, purchasing of a two-wheeler requires proper budget planning. So if you are not prepared to manage the expense, you can avail a two-wheeler loan and repay in affordable monthly installments.

Mahindra Financing is an industry leader in automobile financing. The two-wheeler loan of the company provides an array of benefits that make the two-wheeler purchase process comfortable and hassle-free.

Following are the advantages of Mahindra Finance Two-Wheeler Loans, making it the best choice for people looking to purchase a two-wheeler trouble-free.

  • Quick disbursal of the loan and the requirement of minimum documentation.

  • For women applicants, a rebate of 0.5% is provided.

  • Customers can choose a suitable repayment tenure varying from 12 months to 36 months.

  • The company offers a high quantum of credit for up to 80% of the Loan to Value (LTV) in the on-road price of the vehicle.

  • It also provides loan insurance for two-wheelers.

Documentation

Following are the documents required to be submitted while applying for Mahindra Finance Bike Loans:

KYC Documents:

  • Copy of Passport

  • PAN card

  • Driving license

  • Voter ID

  • Aadhaar card.

Income Proof of Salaried and Self-Employed Applicants:

  • The latest copy of salary slips

  • ITRs

  • Account statement showing salary credit

  • Employment letter

The Rate of Interest

The interest rate offered by Mahindra Finance generally ranges between 10%- 14%. Since interest rates keep on changing, please contact Mahindra Finance before applying for a two-wheeler loan.

FAQs:

Q1. How many days does it usually take in loan processing?

The loan will be processed in two days.

Q2. Will I get any penalty if I chose prepayment of the loan?

Yes, a nominal prepayment penalty will be charged if the customer decides to repay the loan.

Q3. Can I opt to repay the loan in 2 years tenure?

Yes, customers are provided with flexible options for repayment tenures of up to 36 months.