Two Wheeler Loan Interest Rates

Bike Loan Interest Rate

The interest rate plays a very important role in debts. A lower interest rate yields low EMI. Hence, interest rate is the major consideration when applying for any type of loan. At Fullerton India, we offer a competitive two-wheeler interest rate best suited to your profile.

Two-wheeler loan interest rate varies between 8% and 28%* per annum and depends on several factors as mentioned below:

• Profile of the Customer: Customers with a good CIBIL Score, a regular monthly income, and a low fixed obligation to income ratio can avail of the loan at lower interest rates. Remember that the interest rate depends on the perceived risk the lender is taking on. If you have a good credit history and have a high surplus income, you would be able to service the loan better and hence considered a lower risk.
• Tenure of the Loan: Typically, the interest rate goes down as the tenure of the loan increases. That said, the total interest would still increase with the tenure of the loan. Therefore, determine the tenure of the loan based on the EMI you would be able to pay without stretching your finances too thin.
• City of Residence: You would enjoy a lower interest rate if you live in a metro city compared to a non-metro area. This is primarily because vehicles in the non-metros carry a higher risk of loss – both from accidents and theft.
• Type of Vehicle Purchased: Whether it is a moped, a Scooter or a high-end bike, Fullerton India’s Two Wheeler loan is available for all types of vehicles. However, the two wheeler loan interest rate varies for each of the vehicle types.
• Prior Relationship with Fullerton India: We would like to nurture our on-going relationship with our valued customers, and promise to provide better interest rates to those who have been with us for long. Thus, if you are an existing customer, and would like to avail a loan, you are welcome to visit us at your nearest branch or call us to know more about two wheeler loan interest rates and other details.

Benefits of Two-Wheeler Loan

Two-wheeler loans are popular because they can be availed by anyone, anywhere. Also, Two-wheeler loans offer several benefits as mentioned below.

• Minimal and straight-forward documentation
• Available to individuals from all walks of life and financial background
• Flexible repayment tenure to suit your requirements
• Reasonable interest-rate making it affordable for all
• Low processing fee
• Zero down payment loans available for select models