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Tata Capital Two Wheeler Loan
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In the year 2007, the Tata Capital Ltd, a sub-division of the reputable Tata Sons Limited, was established. The primary aim of this alliance was to offer customers the best financial solutions possible, under the name of Tata Sons Limited. The company operates across several aspects of business specifically the Commercial Finance, Infrastructure Finance, Consumer Loans, Wealth Management. The Tata Capital Financial Services Limited has shown an immense growth by expanding to over a 100 branches currently without showing any signs of slowing down.

The Tata Capital Financial Services Limited began with the concept of supervising the financial needs of the customers. The services of Tata Capital includes all types of insurance, securities, mutual funds, leasing solutions, credit cards as well as loans for various objectives including for two-wheelers.

Eligibility Criteria

For Standard Bikes

1. The applicant must be at least 21 years old to become eligible for a two-wheeler loan. The maximum age of the applicant can be 65 years at loan maturity.

2. The minimum amount that the applicant can borrow from TATA Capital for a standard bike is Rs.10,000, and the maximum is Rs.1,50,000.

3. The minimum tenure of loan repayment is 12 months, and the peak is 60 months.

4. The applicant must be living at the same residence for more than a year to show Residential Stability.

5. The borrower should be working with the same employer for more than a year to show Employment Stability as a salaried individual.

6. It is not necessary that the applicant should have an income. He or she can take the loan through a co-borrower.

7. The company provides up to 95% of the Loan To Value (LTV)

Documents Required Salaried Employee Self Employed
Address Proof Passport/ Voter's ID/ Aadhar card/ Driver's License/ Utility Bill/ Bank statement/ Bank statement/ Passport/ Voter's ID/ Aadhar card/ Driving License/ Electricity or Mobile Bill
ID Proof Driving License/ Bank account statement/ Copy of Passport/ Voter's ID/ Aadhar card and recent passport size photographs Driver's License/ Bank statement/ copy of Passport/ Voter's ID/ Aadhar card and recent passport size photographs
Income Proof if required Form 16/ salary slips of last three months/ Salary Certificate/ Last three months bank account statement reflecting salary credits Latest Income Tax Return (ITR)
Bank Statement Last three months account statement is mandatory Last three months statement is mandatory
Residence Ownership Proof Not mandatory Not mandatory

For High-end Bikes

1. The applicant must be at least 21 years old to become eligible for a two-wheeler loan. The maximum age of the applicant can be 65 years at loan maturity.

2. The minimum amount that the applicant can borrow from TATA Capital for a high-end bike is Rs.10,00,000, and the maximum is Rs.40,00,000.

3. The minimum tenure of loan repayment is 12 months, and the maximum period is 36 months.

4. The residence in which the applicant is staying at must be either self-owned or owned by the parents.

5. The applicant must be working with the same employer for at least two years.

6. If the applicant is a salaried individual, he or she must be earning at least Rs.15,00,000 to apply for this loan. If the borrower is self-employed, the income of the business should be at least Rs.5,00,000.

7. The bank provides up to 65% Loan To Value (LTV)

Documents Required  
Identity Proof Voter's ID/ Aadhar card/Driving License/ Bank acc statement/ Passport/ and recent passport size photographs
Proof of Address Electricity Bill/ Voter's ID/ Driving License/ Copy of Passport
Income Proof if required Last 3 months bank account statement reflecting salary credits/ Form 16/salary slips of last three months/ ITR of the last three years
Bank Statement Last 6-month account statement is mandatory
Residence Ownership Proof The residence that the applicant is staying either must be self-owned or owned by the applicant's parents or spouse.

Features & Benefits of Tata Capital Bike Loan

1. Documentation is simple and hassle-free

2. On spot approvals, so there is no waiting period involved.

3. The processing of the request is quick with  minimal paperwork requirement.

4. The applicant can get a loan payment period of up to 5 years.

5. The company provides up to 95% funding of the on-road price of the bike.

6. The company offers  special reduced rates on interest as per the market.

FAQs

Q1. If I am already a customer of TATA Capital, can I apply for another loan?

Yes, you can apply for another loan.

Q2. When can I prepay my loan after repayment by the bank?

Yes, you can prepay your loan after six months.

Q3. Once I have submitted the documents and finished the application, how long does it take to get the loan?

It will only take two days to get a two-wheeler loan in general.

Q4. Who can be a co-applicant for two-wheeler loan?

Either the parent or any blood relative who stays with you at the same residence and can provide the income proof or your spouse can be a co-applicant