Bajaj Finserv is a financial service company that provides lending, asset management, wealth management, and insurance services. It is one of the leading providers of Two-wheeler loans that comes in handy at an interest rate of 10.99% onwards. Availing a two-wheeler loan can enable a customer to access funds for a new vehicle which can then be repaid in EMIs. Bajaj Finserv Two-wheeler loan can be availed only when a buyer purchases Bajaj Bikes only. The financial company does not provide loan on other bike makes and models from other manufacturers.
Bajaj Finserv Two-Wheeler Loan Interest Rates
The interest rates are fluctuating, as it is purely dependent on the financial and repayment capacity of the borrower. However, the interest rate offered by Bajaj Finserv for its Two-Wheeler Loan is 10.99% onwards.
Eligibility Criteria for Bajaj Finserv Two Wheeler Loan
The eligibility criteria for sanctioning the two-wheeler loan mainly include age, financial position and employment duration of the person. It is segregated as follows:
|Eligibility Criteria for Bajaj Finserv Two Wheeler Loan|
|Age Criteria||Min. 21 years & Max. 65 years|
|Employment Experience||Min. 1 year|
|Residence Status||Min. 1 year at current residence|
|Loan Tenure||Min. 12 months & Max. 60 months|
|Landline number||Either office or residence|
Documents Required by Bajaj Finserv for Two Wheeler Loan Application
The documentation process required for the approval of the loan is very simple compared to the loan schemes of other banks. Some of the mandatory documents required while applying for the loan are as follows:
|Bank Documents for Agriculture Sector|
Features and Benefits of Bajaj Finserv Two-Wheeler Loan
|Payment Options||The buyer can use any payment options from the below:|
Factors Affecting the Bajaj Finserv Two-wheeler Loan Interest Rates
The interest rate is defined after considering these multiple factors:
|Repayment Tenure||The repayment tenure is an important factor deciding the interest rates. The longer the repayment tenure, the higher the interest rates.|
|Past record||The past bank and payment history of the buyer is taken into consideration. Based on this, the interest rates would fluctuate.|
|History with bank||The members of the bank enjoy a special rate while applying for the loan. If the relationship of the buyer is not so good due to past defaults then the interest rates would be slightly higher.|
Therefore, by considering and following the provided information, the borrower can apply for the loan via paisabazaar.com by just filling in few details, getting the code generated and providing the code at the dealership to drive back home your favorite bike or scooty. Customers can also visit the nearest dealership and get the two-wheeler loan by getting the documents verified from the Bajaj Finserv’s representative.