Low-Interest Rate Providing Platform of Bike 2 Two Wheeler And Car Loan Finance: Planning to buy a new car or bike? But due to lack of money, looking for a platform that gives loans at a low interest rate? You are in the right place. Here we give you the top 7 best low-interest rates providing bike and car loans in India.
Honestly, going for a loan is a safe & beneficial step to purchasing a dream bike or car. However, you need to pay in time; otherwise, you may suffer. But if you are capable of repaying your borrowed amount timely, then a new problem comes.
Therefore, most people cannot choose the best platform that gives bike and car loans at a low interest rate. But don’t worry, we are here to help you. So checkout below to pick your suitable car and bike loan providing platform with minimum interest rate.
7 Low-Interest Rate Providing Platform of Bike 2 Two Wheeler And Car Loan Finance
SBI
If you are planning to purchase a superbike or car. Apply for an SBI two or four-wheeler loan. Also, Everything can be done online & has lots of schemes to pursue. Following schemes SBI offer for bike and car loans are
- SBI Car Loan
- NRI Car Loan
- Assured Car Loan Scheme
- Superbike loan scheme
- Two-wheeler loan scheme And more
Key features: Two-wheeler loan
- Interest – 10.25% p.a for superbike scheme
- Interest – 16.25% – 18.00% p.a. for Two-Wheeler Loan scheme
- Repaying duration maxim of five years
- Processing fee – Nil under clean overdraft scheme
Key features: Four wheeler loan
- Interest – 7.75% to 8.45% under SBI car loan scheme
- Also, Up to 90% financing of your car “on-road price.”
- Repaying duration maxim of seven years
- Also, Processing fee – minimum 1000 + GST under SBI Pension Loan scheme
Four & two-wheeler loan eligibility
- Minimum age – 21-67 years old
- Salaried persons’ income, minimum 2.5 lakhs per annum
- Agriculturists/businessmen income minimum four lakhs per annum
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Bank of Baroda
If SBI is not suited for you, check Bank of Baroda’s two & four-wheeler schemes. Consider their loan is affordable, offers easy monthly installments, and has minimal processing charges.
Key features: Two-wheeler loan
- Interest – 7-11% p.a
- Repaying duration three years but above that charges premium 0.10-1% p.a
- Processing fee – 2% of the loan amount
- Also, Take loans up to 10 lakhs
Key features: Four wheeler loan
- Interest- 7.35% p.a minimum (depends)
- Maximum withdraw amount 10 lakh
- Repay duration up to seven years
Four & two-wheeler loan eligibility
- Minimum age – 21-70 years old
- Minimum credit score 725 (car only)
- Also, Need the last three-month income proof
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Union Bank of India
It is another best platform that provides bike and car loans at a low interest rate. In addition, you don’t require any guarantee if your credit score is above 700.
Key features: Two-wheeler loan
- Interest – 10.00% p.a maximum
- Processing fee – NILL
- Repaying duration 36 months maximum
- Take loan up to 1 crore
Key features: Four wheeler loan
- Interest- 7.40% – 10.50% p.a.
- Processing fee rs. 1000+GST
- Also, Repay duration is 84 months maximum
Four & Two wheeler loan eligibility
- Minimum age criteria – 18 to 75 years
- Also, Indian & NRI are both eligible
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HDFC Bank
If you are looking for a more convenient and beneficial car or bike loan platform, check out this one. HDFC offers 100% financing for your vehicle’s “on-road price”. In addition, consumers get exciting facilities for specific two-wheelers purchases.
Key features: Two-wheeler loan
- Interest – 20.90% p.a maximum
- Processing fee – 2.5% of the loan amount
- Also, Repaying duration 48 months maximum
- Take 100% bike amount
Key features: Four wheeler loan
- Interest- 7.40% – 10.50% p.a.
- Maximum loan amount rs. Three crore
- Processing fee rs. 5000 – 10000
- Also, Repay duration is 84 months maximum
Four & Two wheeler loan eligibility
- Minimum age criteria – 21 to 65 years
- Monthly salary minimum 10K per month
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Axis Bank
If your dream bike is under 1 lakh, then axis bank is the best option for you. Moreover, you can withdraw 100% “car on road amount” after eligibility. Apart from that, exceptional benefits, discounts & deals are compulsory for most customers.
Key features: Two-wheeler loan
- Interest – 10.80 – 28.30% p.a maximum
- Also, Processing fee – max 8% of the loan amount
- Repaying duration 60 months maximum
- Minimum 1 lakh
Key features: Four wheeler loan
- Up to 100% of the on-road price
- Start from 7.99%
- Also, Repaying duration up to 8 years
Four & Two wheeler loan eligibility
- For a salaried person – 84K per annum
- Also, For Self-employed – 1.5 lakh per annum
- 21-75 years old
PNB (Lowest Interest Rate Providing Platform of Bike and Car Loan)
Especially if you are planning to buy a new car definitely, checkout PNB loans; therefore, Punjab National Bank partnered with TATA motors. Consider it as an advantage if you are looking for TATA brand cars. In addition, consumers get more benefits if they are government employees. “Low-Interest Rate Providing Platform Of Bike 2 Two Wheeler And Car Loan Finance”
Key features: Four wheeler loan
- Start from 7.55%
- Also, Repaying duration up to 7 years
- Processing charge 1000-1500 rupees maximum
- Maximum withdraw amount 15% of the on-road price
Four & Two wheeler loan eligibility
- Minimum monthly income 2.4 lakh per annum
- For self-employed minimum 25K per month
- Also, Eligible for a 1cror loan if you have 25X monthly income
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Syndicate Bank
Last but not least comes Syndicate Bank car loan for both salaried & Self-employers. It is one of the best public banks since 1925 in India. Free car loan Syndicate Bank offers you paperless applications, a low interest rate, & flexible repayment duration.
Key features: Four wheeler loan
- Up to 85% of the on-road price
- 9.40% maximum interest rate
- Repaying duration up to 84 months
- Also, Processing chargers 1.25 per 1000 rupees
Four & Two wheeler loan eligibility
- regular monthly income for both self-employed & salaried persons
- Also, Above 18 years of age
- An average credit score
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Conclusion (Lowest Interest Rate Providing Platform of Bike and Car Loan)
So this is the list of Low-Interest Rate Providing Platform Of Bike 2 Two Wheeler And Car Loan Finance. Go and pick your best choice as per your need. However, we already divided the best car & bike loan providing platforms.
Consider SBI as the best & secure superbike loan provider with a low interest rate. In addition, Punjab National bank is the best for car loan takers. If you want better facilities, then go for HDFC or AXIS bank loans.