- Features of Shriram City Two-wheeler Loan
- Eligibility of Shriram City Two-wheeler Loan
- Benefits of Shriram City Two-wheeler Loan
zeable fund, and if your savings are not sufficient, you can resort to a two-wheeler loan. A two-wheeler loan allows you instant funds to buy the bike of your dream. Almost all banks and Non-Banking Financial Companies (NBFCs) allow you a two-wheeler loan for funding your two-wheeler. Shriram City Union Finance is one such NBFC which offers you an attractive deal on its two-wheeler loan. Let’s have a look at the details of the two-wheeler-loanprovided by Shriram City and what makes the loan an ideal choice -
Here are some of the salient features of Shriram City’s two-wheeler loan which distinguishes it from other loans available in the market
To apply for Shriram City’s two-wheeler loan, you would have to fulfil some simple eligibility parameters so that the loan can be sanctioned easily. These parameters are as follows -
You would have to submit a set of documents to avail a two-wheeler loan from Shriram City. These documents include the following -
Furthermore, Shriram City might insist on other documents if required, and you should submit such documents for the quick completion of the loan application process.
Interest rates and other charges of Shriram City Two-wheeler Loan
Interest would have to be paid on the loan amount that you avail, and Shriram City charges a competitive interest rate on its two-wheeler loan. Moreover, there are different types of charges associated with the loan.
Given below is the schedule of interest rate and charges applicable to Shriram City’s two-wheeler loan –
Interest rate: 12% per annum onwards
Processing fee: Depends on the State from where the loan is availed
NOC Certificate: Nil
Foreclosure charges: 4% onwards
Stamp Duty: As levied by the Government
Calculating the potential EMI for the loan is important before you apply for the loan. This calculation allows you to find out the EMI that would be affordable for your pockets. Calculating the EMI with the conventional mathematical formula is challenging, which is why Shriram City offers you the facility of an online loan EMI calculator. With Shriram City’s two-wheeler loan calculator, you can determine the exact EMI payable for the loan within seconds. All you have to do is enter -
Once the details are entered, the loan EMI would be calculated in seconds. You would also get to see the total interest cost that you are paying on the loan, which gives you an estimate of the total loan repaid. You can also change the loan amount and/or the repayment period to find the EMI, which would be financially feasible to pay off.
This online calculator is free, and so you should use it before applying for the loan to work out the potential EMIs.
Here are some reasons why considering Shriram City’s two-wheeler loan would be a great choice for financing your bike -
So, if you have been eyeing a bike for quite some time, why wait longer? Shriram City’s two-wheeler loan allows you to buy a two-wheeler easily and affordably so that you can simplify your daily commute. Be sure to check the various aspects of the loan and apply for one online with ease.