Commuting daily by bus or train becomes exceedingly difficult during rush hours. It becomes more hectic if you have to travel a long way and change buses or trains to reach your destination. Additionally, travelling daily by auto rickshaws and cabs can cost you a huge amount and also there are very little chances that the drivers will take you to your destined location in time. In such cases, a two-wheeler is the best option. It helps you in difficult situations and decreases your travel time significantly.
Now that you have acknowledged the need to getting a two-wheeler, the next step is to plan for the perfect way to manage the finances. Even if you have a limited budget to afford a two-wheeler, you can always opt for a loan to purchase it.
A two-wheeler loan offers various benefits to those who apply. In this article, we shall be covering the reasons, which will compel you to apply for a two-wheeler loan:
- Flexibility to Repay
Lots of financial companies will offer you a flexible period to repay. Depending on your capability to repay, you can decide the EMIs and the tenure period such that it doesn’t harm your pocket.
- Less Maintenance
In comparison to other loan options, you do not need to pay hefty amounts to clear the loan amount on a monthly basis. Undoubtedly, a two-wheeler loan will not burden you much as you can easily pay the loan amount and clear all the dues.
- Zero Prepayment Charges
Certain companies do offer zero prepayment charges in case you are planning to discontinue the loan before the tenure gets over. Hence, you don’t need to worry about extra charges in case you opt for this option.
- Attractive Loan Interest Rates:
Few companies offer interest rates as low as 12% to their customers. Depending on the amount you are planning take, you can avail attractive interest rates easily.
- Flexible Tenure Period
You can choose your tenure from 3 months to a maximum of 24 months for an EMI, which will help you settle your dues without much hassle. Two wheeler loans offer you this flexibility keeping in mind the problems people have to face when the tenure is too short.
- Attractive Loan Amount Disbursal
You can easily buy your favourite bike or car and avail loan up to 15 lakh to fulfil your dreams, which you could only imagine about previously. Also, once it is approved, the loan amount will be immediately disbursed to your bank account without much delay.
There are a large number of organisations, which offer two-wheeler loans for the benefit of the people who are planning to commute through their personal vehicles. Two wheeler is a great option to save time and reduce difficulties while travelling. The benefits are amazing and there is no doubt that you should apply for a two wheeler loan without a second thought. Hope you received some insight into the details about a two wheeler loan from this information.