Bank Of India Bike Loan
Bank of India Two Wheeler Loan:
Bank offers finance to all those who are able to meet Bank of India Two Wheeler Loan eligibility conditions at a competitive Bank of India Two Wheeler Loan rate to facilitate their acquisition of two-wheelers, both new and pre-owned.
Loan is available at Bank of India Two Wheeler Loan interest rate in the form of:
- Demand loan
- Term loan
Bank of India Two Wheeler Loan interest rate:
Loan is provided on a Bank of India Two Wheeler Loan rate levied on daily-reducing balance of principal:
- New vehicle loan: Fully-secured:
- Tenure less than and equal to 3 years: 12.50% per annum
- Tenure exceeding 3 years: 13% per annum
- Old vehicle loan:
- Tenure less than and equal to 3 years: 13.00% per annum
- Tenure exceeding 3 years: 13.50% per annum
- Female borrowers are eligible for concession in above Bank of India Two Wheeler Loan interest rate: up to 0.25% per annum
Bank of India Two Wheeler Loan eligibility norms:
An easy Bank of India Two Wheeler Loan interest rate is applicable on loan, to persons who are able to satisfy below mentioned Bank of India Two Wheeler Loan eligibility norms:
- Salaried borrowers who are employed with government concerns as well as reputed private companies.
- Non-salaried class: professionals and self-employed businessmen and professionals
- Others with a high and reliable net worth
- Directors of registered companies and firms
- Pensioners and senior citizens
- Non-resident Indians
Quantum of Bank of India Two Wheeler Loan:
- Maximum amount of loan that may be extended is Rs.50, 000
- Margin is considered at the rate of 5% on loan amount before disbursal at Bank of India Two Wheeler Loan rate.
Procedure to be followed while applying for Bank of India Two Wheeler Loan:
Persons eligible as per above specified Bank of India Two Wheeler Loan eligibility norms would be able to apply for loan at Bank of India Two Wheeler Loan interest rate:
- Processing charge is levied, as a one-time fee: Rs.1000
- It is over and above interest at Bank of India Two Wheeler Loan rate.
- Security in the form of hypothecation charge on vehicle to be acquired.
- Duly filled-in application form along with other relevant documents may be submitted at nearest bank branch to be able to avail of loan.
Tenure of Bank of India Two Wheeler Loan:
All customers eligible as per Bank of India Two Wheeler Loan eligibility criteria, who were extended loan, should repay within a period of 5 years. Bank of India Two Wheeler Loan rate once levied does not fluctuate during entire tenure.
Repayment of Bank of India Two Wheeler Loan:
Borrowers should ensure that entire amount of loan is repaid in a maximum of 60 equated monthly installments, which is inclusive of interest at Bank of India Two Wheeler Loan interest rate.
Product page URL of Bank of India Two Wheeler Loan: you may be able to avail of further information at http://www.bankofindia.com/autofin.aspx
Branch office address (in table):
City
|
Branch
|
Address
|
Phone number
|
Email id
|
Delhi
|
JANPATH
|
54 - JANPATH,
PB NO 357,
NEW DELHI - 110001
|
011-23353251 / 28844060
| |
Mumbai
|
ANDHERI WEST
|
28 S.V RAOD,
PB 7358 ANDHERI WEST,
MUMBAI - 400058
|
022-26280209
| |
Kolkata
|
BARA BAZAR
|
BARA BAZAR,
210/212,
JAMANALAL BAJ,
KOLKATA - 700007
|
-
| |
Chennai
|
MOUNT ROAD
|
MOUNT ROAD,175/1,
ANNA SALAI,
P.B. No: 2703,
CHENNAI,600002
|
044-28520248 / 28520565
|
