The real deal is in walking into a showroom and determining whether you really can own the superbike of your dreams. Let’s try understanding this, you have walked in and decided to own a bike and realise that you aren’t prepared to buy the superbike. This is when you think of smart alternatives, like a personal loan.
Buddy Loan, one of the finest loan aggregators in the industry has fast solutions to these situations. You could submit your e-documents, fill in the details and hold on until your request is approved. Buddy Loan provides an opportunity to customise your EMI with the respective lenders.
Let us understand the 3 easy steps to avail a bike loan from Buddy Loan.
A bike loan or a two-wheeler loan takes only a few minutes for approval. Before you apply for a loan, research on the competitive interest rates online. At Buddy Loan the interest rate is low, starting at 11.99% p.a. Download Buddy Loan app from Google Play Store. In the dashboard, please select “Apply for a loan” and it will redirect you to fill in the details.
You could calculate your EMI principal amount for repayment and interest rate for easy finance scheduling. Thus, you will not default on any month. Note, the loan tenure starts from 3 months to 5 years. The lenders can help you with the repayment by fixing your EMI and repaying options within 5 years. “Two-wheeler Loan Online Approval.”
After you fill in the details in the Buddy Loan app, return to the dashboard and submit your e-documents. For any loan, submit the minimum set of documents that include; proof of identity, proof of income, proof of address.
Post document submission the Buddy Loan provides a list of lenders whom you can choose from to avail a loan. By selecting a lender, you will request the lender (bank or NBFC) for EMI and tenure discussions. There are no hidden fees while availing the loan.
The approval, however, takes a few minutes and you will be acknowledged post the approval. Buddy Loan is known in this industry for its highest approval rate of 80%. Post the loan is approved, it is processed and transferred to your account directly.
Bike loans have one shot payment and hence the transaction is swift.
Sometimes it is risky to choose a loan that covers lesser benefits than the rest. To help you understand and choose the right two-wheeler loan, Buddy Loan points out the differences in Two-wheeler loan and its types.
Choose the best option for Two-Wheeler Loan Online Approval:
Applying for a scooter or a bike finance online is no longer difficult. Your dream bike is within your reach, so make the right decision. There are various elements in a personal loan you must be aware of.
The documents (3 types) you produce to the loan platform, app (Buddy Loan app) will help increase your loan approval rate.
You can avail a loan anywhere from Rs.1000/- to Rs. 15 Lakhs. You can avail how much ever money you want with the mentioned loan amount. Buddy Loan collates your information and lists a couple of lenders you can choose from.
The lenders can customise your loan tenure within 3 months to 5 years, to help you plan your livelihood with the income you draw. So, you can choose a repayment plan out of 60 months. This will help you maintain your bike expenses and maintenance.
The repayment capacity can not only affect your credibility but also your future loan eligibility.
Purchasing a bike requires:
Planning your finances and choosing the loan offers that best fit your financial needs.
Researching the festive offers on loans can help you get discounts.
Comparing competitive interest rates can help you plan your repayment. Your interest rate consists of a certain percentage of principal amount every month. In every installment, you’re paying back the principal amount and the interest set on the loan.
Repayment plan is essential and the key to all your financial behaviour. The better the plan the better your credit score is. Discuss your financial situation with the lenders you choose to avail the loan from. Customizing your EMI and loan tenure can help you have a peaceful loan journey without any defaults.
Sorting your documents before you apply for a loan. This can help you increase your approval rate by
Bike loans or two-wheeler loans online approval has an easy disbursal process. The eligibility criteria depend on credit score and your financial behaviour. If you have an outstanding loan, you can avail a personal loan for consolidation of all the other debts and post repayment can avail a two-wheeler loan.