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.
Following are the documents required to be submitted while applying for Mahindra Finance Bike Loans:
Copy of Passport
Income Proof of Salaried and Self-Employed Applicants:
The latest copy of salary slips
Account statement showing salary credit
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.
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.