Bike loan is a smart approach for buying a bike of your choice. It allows you to repay the loan at affordable EMIs every month. You would reduce the burden of paying a massive amount at one go. Bike loans are pocket-friendly and allow you to shop a bike at one road price.
Buddy Loan known as the biggest loan aggregator in the industry, has an 80% approval rate on personal loan requests. You could avail a bike loan through Buddy Loan app. Personal loans for a bike are popular and common today. The best way to find your competitive interest rate is to research. At Buddy Loan, the interest rates are low, starting at 11.99% p.a.
Two-wheeler loan and its eligibility criteria:
Note, salaried and self-employed are eligible for a bike loan. Below are some other factors that will help you avail a quick personal loan.
- The individual must be of minimum age 24, to be able to apply for a loan through Buddy Loan app. If the person is older than 57, they cannot apply for a personal loan.
- Must and should be a citizen of India. During the loan approval stage, the banks or NBFCs will require a proof of address in case there is a change in location in the last 6 months. Note, the policy might differ from lender to lender.
- Those who have a monthly income of INR 20,000 and above, who work in an MNC, start-up, a private company can avail a quick personal loan here. Individuals owning a business, self-employed, are eligible to apply for a personal loan.
- As a fresher to the working industry, if you have been working for a year, you qualify for the personal loan. Note, if your salary evaluations and documents meet the policy you qualify for the personal loan.