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Owning a two-wheeler is a matter of convenience and pride, especially since it makes your day-to-day journey faster and comfortable while allowing you to enjoy your travel independence. With the right two-wheeler loan options, we offer you the perfect partnership to have you riding your two-wheeler in no time.
With Fullerton India’s two-wheeler loan, we guarantee that within no time you will own your very own bike or scooter, giving you the opportunity to relish the comfort of independent transportation.
Applying for a two- wheeler loan at Fullerton India is quicker and reasonable, and most essentially, convenient. Our two-wheeler finance schemes are designed to enable you to take control of your aspirations and make your dreams come true. No matter which two-wheeler you want to buy, we have the capability to fund it. Our financial products are reliable, with competitive financing rates on any two wheelers you opt for.
Loan documentation is hassle free and quick loan disbursal
Attractive Interest Rate
Loan amount up to 30 lakhs* with flexible and attractive interest rates
you can opt for an easy repayment schedule
For Working Professional
Two wheeler finance for salaried and self-employed individuals
Instant Digital Approval
Meet our sales representative today and get an instant approval for a two wheeler loan
Interest Rate Rationale
Fees & Charges
These are the eligibility criteria you must fulfil before availing this loan:
*Terms and Conditions Apply
The interest rate for Two-wheeler loan ranges from 17% to 28% per annum.
Fullerton India Credit Company Limited
Policy for Determining Interest Rates, Processing & Other Charges
Reserve Bank of India ( RBI) had vide its Circular DNBS / PD / CC No. 95/ 03.05.002/ 2006-07 dated May 24, 2007 advised that Boards of Non-Banking Finance Companies(“NBFC”) to lay out appropriate internal principles and procedures in determining interest rates, processing and other charges. Further, vide circular DNBS (PD)C.C. No. 133 /03.10.001/ 2008-09 January 2, 2009, RBI advised the NBFCs to adopt appropriate interest rate models taking into account relevant factors and to disclose the rate of interest, gradations of risk and rationale for charging different rates of interest to different category of borrowers.
Keeping view of the RBI Guidelines as cited above, the following internal guiding principles and interest rate model are therefore laid out by the board of Fullerton India Credit Company Limited (the “Company”). This policy should always be read in conjunction with RBI guidelines, directives, circulars and instructions. The Company will apply best industry practices so long as such practice does not conflict with or violate RBI guidelines.
The policy of the Company for determining Interest Rates, Processing and Other Charges is as follows:
Interest Rate :
Penal Interest /Late payment charges
Processing /documentation and other charges
All processing / documentation and other charges recovered are expressly stated in the Loan documents. They vary based on the loan product, exposure limit, customer segment, geographical location and generally represent the cost incurred in rendering the services to the customers. The practices followed by other competitors in the market would also be taken into consideration while deciding the charges.
The interest rate models, benchmark prime lending rate (BPLR) and other charges applicable shall be reviewed by the Empowered Committee periodically and suitable recommendations will be made to the Board.
Fullerton India Credit Company Ltd offers competitive annualized interest rates across its range of products. The interest rates* for our loan products vary and are based on the following:
*The interest rate would be computed on daily balances basis and changed on monthly rest at the rate as set out in the loan agreement. The interest rate range is indicative and the final rate is arrived at basis (a) Profile of Customers (b) Tenure of the Loan(c ) Geography of residence (d) Nature of Collateral (If provided (e) Prior / existing relationship with Fullerton India. Interest rates are subject to change at any point of time at the sole discretion of FICCL
Please see the following table to know more about the Fees and Charges associated with two wheeler loans from Fullerton India. If you have any questions, please feel free to contact us . Our customer care representatives will be happy to assist you.
|Type of charges||Amount/Rate (INR/%, including GST)|
|Cheque dishonor charges/rejection of ECS mandate/auto debit mandate||INR 500 for every cheque dishonored/rejection of ECS or auto debit mandate|
|Late payment/Penal charges (per month)||2% of the unpaid EMI|
|Cheque Swap charges (per swap)||500|
|Cancellation & Rebooking charges||1,000|
|Foreclosure / Prepayment charges||5% of Principal amount outstanding|
|Duplicate NOC Issuance Charges||500|
|NOC for conversion of private to commercial registration||1,100|
|NOC for inter state transfer||600|
|Document retrieval charges (per retrieval)||500|
|Stamping Charges||As per actuals|
|Processing fees||As per agreement|
|EMI Pickup/ Collection Charges||500|
|Legal/Collections/Repossession and Incidental Charges||As per actuals|
|Receiver order district court||4,000|
|Execution of award (Legal)||5,600|
|Sec 138 and Sec 25||3,400|
|Receiver order high court||13,500|
A copy of any of the following identity proof documents:
A copy of any of the following documents as address proof:
The following Income Proof: