Now is the time to turn your dreams into a reality and drive home your favorite two wheeler. Enjoy the thrill and passion of riding your two wheeler on the city roads or on your next biking adventure. This is all possible because today, buying a two wheeler has become a quick and convenient process. You do not need to worry about the funds or about disrupting your budget. You can apply for a loan for two wheeler and bring home your dream ride. Given below are the steps to apply for a loan:

1. Research the market: Once you have made up your mind about the two wheeler you wish to own, you need to scout the market for reliable lenders in the industry. Make sure to do your homework before you approach a lender. Lenders have varying eligibility criteria and they offer the loan at varying terms and conditions. You can compare the same online before you make a decision. Check whether you are eligible for the loan and then make an application.

2. Down payment: All lenders require you to make down payment for the loan. It can be the minimum amount of down payment necessary. This usually ranges from 20% to 30% of the value of the two wheeler. However, if you have excess funds on hand, you can make a higher down payment.

3. Application: It is simple and easy to make an application for the loan. You simply need to fill the application form and submit documents. You will have to provide identity proof, address proof, income proof and documents of the two wheeler you wish to own. You will also have to attach proof of down payment. Once you submit it, your loan application will be processed in no time. If you do not have a stable income, you will need a guarantor for the loan.

4. Approval: If all is in place, the loan application will be approved in 24 to 48 hours and you will receive the funds in no time. If you have a good credit score, you will enjoy quick approval. Once the loan is approved, you will have to prepare a repayment schedule to ensure timely payment of dues. The loan amount will have to be repaid in the form of EMIs over the tenure.

A loan for two wheeler can make it easier for you to own any two wheeler you have been thinking about. There is a hassle free and convenient application process, which makes borrowing easy. Once you choose the two wheeler you want to own, take a test drive and then make an application. Timely payment of dues will help build a strong credit score and you will be able to get a quick approval in the future. Use the EMI calculator to get an estimate of the EMI amount payable on the loan. The calculator is available online for free. You only need to provide the loan amount and tenure to get a quick estimate.

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3 Simple Steps to Apply for a Loan for Two Wheeler - ( Link )