TWO WHEELER LOAN SUGGESTION

[Md_]

Hey guys,
I need your expert advice for choosing bank Or nbfc for two wheeler loan

I want to know which bank or nbfc offer comparatively low interest rate for 2 wheeler loan

I have pre approved offers from :
BAJAJ EMI CARD :- 142,000(2WHEELER LOAN OFFER)
IDFC EASY BUY CARD:- 125,000(2WHEELER LOAN OFFER)
HDB FINANCIAL SERVICES:- 125,000 (2WHEELER LOAN OFFER)

Suggest me which of the above three or any other bank or nbfc offer less interest

Some other details which may help you :
Model to buy :- Suzuki Access 125 Standard Edition
On road price:- 103,000
Down payment(ready to pay):- around 35000-40000
Approximate tenure (which I want) :- 3-4 years

Please suggest me!

Thank you

 

[hellowo₹ld]

if u can get using income documents then go for personal loan.

last i checked personal loan around 12% whereas two wheeler loan 17%.

 

[HumorSimpson]

@praful47 . .

 

[praful1947]

Hey guys,
I need your expert advice for choosing bank Or nbfc for two wheeler loan

I want to know which bank or nbfc offer comparatively low interest rate for 2 wheeler loan

I have pre approved offers from :
BAJAJ EMI CARD :- 142,000(2WHEELER LOAN OFFER)
IDFC EASY BUY CARD:- 125,000(2WHEELER LOAN OFFER)
HDB FINANCIAL SERVICES:- 125,000 (2WHEELER LOAN OFFER)

Suggest me which of the above three or any other bank or nbfc offer less interest

Some other details which may help you :
Model to buy :- Suzuki Access 125 Standard Edition
On road price:- 103,000
Down payment(ready to pay):- around 35000-40000
Approximate tenure (which I want) :- 3-4 years

Please suggest me!

Thank you

Are you salaried or self employed?

 

[Md_]

Are you salaried or self employed?

Self employed

if u can get using income documents then go for personal loan.

last i checked personal loan around 12% whereas two wheeler loan 17%.

Personal loan is costlier as much as I know

 

[praful1947]

Self employed

Personal loan is costlier as much as I know

Simply go to showroom , they will finance on their own .
Lender would be idfc or shriram finance.

 

[cardy]

Hey guys,
I need your expert advice for choosing bank Or nbfc for two wheeler loan

I want to know which bank or nbfc offer comparatively low interest rate for 2 wheeler loan

I have pre approved offers from :
BAJAJ EMI CARD :- 142,000(2WHEELER LOAN OFFER)
IDFC EASY BUY CARD:- 125,000(2WHEELER LOAN OFFER)
HDB FINANCIAL SERVICES:- 125,000 (2WHEELER LOAN OFFER)

Suggest me which of the above three or any other bank or nbfc offer less interest

Some other details which may help you :
Model to buy :- Suzuki Access 125 Standard Edition
On road price:- 103,000
Down payment(ready to pay):- around 35000-40000
Approximate tenure (which I want) :- 3-4 years

Please suggest me!

Thank you

If you have income proof such as itr and bank statement with good balance and transaction and have some time to visit psu bank two three times, then yah, definitely go for psu auto loan(two wheeler loan).

Don't fall for interest rate of showroom, they tell you flat interest rate which will be nearly equivalent to double in reducing rate.

For example a 10% flat interest rate is nearly equivalent to 19% reducing rate of interest. Show room finance or any nbfc or any private lender nearly always provide auto loan on flat rate.

You will have to pay more interest, have no pre payment facility, have heafty foreclosure charges.

On the contrary psu will have reducing interest rate, pre payment facility, no foreclosure charges.

So try to take it from psu. And since you are self employed, if you have current account in any psu , for your business, prefer that bank talk to them,

Yahh, it's hard, i know, but it pays.

 

[praful1947]

If you have income proof such as itr and bank statement with good balance and transaction and have some time to visit psu bank two three times, then yah, definitely go for psu auto loan(two wheeler loan).

Don't fall for interest rate of showroom, they tell you flat interest rate which will be nearly equivalent to double in reducing rate.

For example a 10% flat interest rate is nearly equivalent to 19% reducing rate of interest. Show room finance or any nbfc or any private lender nearly always provide auto loan on flat rate.

You will have to pay more interest, have no pre payment facility, have heafty foreclosure charges.

On the contrary psu will have reducing interest rate, pre payment facility, no foreclosure charges.

So try to take it from psu. And since you are self employed, if you have current account in any psu , for your business, prefer that bank talk to them,

Yahh, it's hard, i know, but it pays.

We all know psu me ROI minimum hota hai .

But kitne logo ko milta hai loan and that to a self employed.

Faltu hai chakkar katna .

 

[Amit_]

Showroom se bhulkar bhi finance nahi karwana... Last year maine tvs Jupiter liya.. Personal loan lekar liya tha.. Loan from sbi around at 11.9% interest rate . I had pre approved loan. Due to salary account processing fee was waived off.

 

[Amit_]

Aap sabhi 3 finance karne walo ke customer care se fon karke puchhe... compare all 3.. . Processing fees bhi puchhe.. kai bar ye log processing fees ke bare me nahi batate hai... Jisase inka offer attractive lagta hai.. Do your own calculation.. then purchase

 

[hellowo₹ld]

Self employed

Personal loan is costlier as much as I know

I also thought that but no, reality in private banks gold and two wheeler is higher compare to personal loan.

check once for quotation.

hdfc: gold 13%, two wheeler 17% whereas personal loan 12%

thought secured loans less but not in private banks.

sbi or psu might offer less but process lengthier.

 

[koinahi]

PL is better, vehicle loan unnecessary paper work, hypothecation add and remove in rto office.

 

[Md_]

Thank you for all your guidance

Tomorrow I will visit showroom ask their rates and I have saving acc in BoB ... I will ask BoB if they can finance

My MAB is fluctuating sometime it is like 70-80k sometimes like 3-4K

 

[Md_]

I also have pre approved personal loan from Bajaj finserv but @16%