Two-wheelers keep advancing the country. They have a lot of love and need from big cities to small villages. Two-wheelers have become affordable to cater to the public. Additionally, a two wheeler loan by banks and NBFCs has made these vehicles highly accessible.

If you want the thrill of riding a bike and want to buy one, you can do so with 100% financing called Zero Down Payment to best bike loan . Here's what you need to know about it:

How does a two-wheeler loan generally work?

Before understanding what a zero down payment loan is, let us understand how a vehicle loan generally works. In most cases, if a person wants to take a loan to buy a two-wheeler, he has to pay up to 5% -20% as a down payment. Financial institutions offering loans then provide balance. In this way, anyone who wants to take advantage of the loan needs some cash to be able to buy a two-wheeler.

What is a zero down payment two wheeler loan?

This loan is different from traditional auto loan. With a zero down payment loan, the buyer does not require a lump sum to pay as a down payment. In this case, the bank or NBFC helps with 100% cost of the vehicle.

This essentially means that you can walk into a showroom and ride with a new bike without paying a single rupee. However, not everyone can get this loan. There is some debt eligibility that a person has to fulfill to qualify.

What is the two wheeler loan eligibility?

Taking a zero down payment loan is easy. Criteria include:

1) Indian citizenship
2) Minimum age 21 years and maximum age 60 years
3) Member who works for the owner of an organization or business
4) Healthy credit score above 750

Some mandatory documents that need to be submitted:

1) Last three months bank statement
2) Salary slip for last three months
3) Latest ITR (For Self Employed)
4) address proof
5) Proof of identity

Ride like the wind with Muthoot Capital

Own your dream machine? Muthoot Capital offers attractive bike loans to make it real. It can provide loans up to 3,00,000 starting at 0.99%, with a tenure of up to five years. With quick processing and minimal paperwork, your loan will be processed in no time.

Visit Muthoot Capital and click on two wheeler loan apply online button to fulfill your requirmeent. Muthoot Capital also offers flexible EMI options so that you can pay at your convenience without any stress. This ensures spot approval. This means that once you submit all your documents, it only takes 20 minutes to calculate your eligibility and approve the loan amount. It could not be better!