Corporation Bank Bike Loan

Corporation Bank Two Wheeler Loan:

Finance scheme at an attractive Corporation Bank Two Wheeler Loan rate is offered, to facilitate the acquisition of two-wheelers by applicants who are eligible as per Corporation Bank Two Wheeler Loan eligibility norms.

Corporation Bank Two Wheeler Loan Interest Rate:

i)                    Bank offers finance scheme at an easy Corporation Bank Two Wheeler Loan rate as follows:

a)    Tenure less than: equal to 3 years: 11% p.a.

b)    Tenure more than 3 years: less than 5 years: 11.50% p.a.

c)    Tenure more than 3 years: less than, and equal to 7 years: 12% p.a.

ii)                  Corporation Bank Two Wheeler Loan interest rate is not fixed and may fluctuate as per revision made by bank from time to time.

Corporation Bank Two Wheeler Loan Eligibility Norms:

Funding is provided on easy terms, including Corporation Bank Two Wheeler Loan rate, to applicants who are able to satisfy below mentioned set of Corporation Bank Two Wheeler Loan eligibility criteria:

i)                    Individuals:

a)    Salaried employees of government and other organizations, who are confirmed in their service.

b)    Directors of companies; trustees are also eligible

c)    Non-salaried borrowers, such as professionals and businessmen

ii)                  Institutions: registered companies, firms and trusts, HUFs, Sole Proprietorships

Quantum Of Corporation Bank Two Wheeler Loan:

i)             Maximum amount of loan disbursed at Corporation Bank Two Wheeler Loan interest rate, is as per permissible limit, equivalent to Rs.75 lacs, per vehicle

ii)            Margin is also considered before disbursal: 15% of cost price of vehicle to be acquired

Procedure To Be Followed While Applying For Corporation Bank Two Wheeler Loan:

Applicants may be able to apply for loan at Corporation Bank Two Wheeler Loan rate, by simply logging on to website of bank. However, following points should be borne in mind:

i)             Security is required:

a)    Primary: hypothecation on vehicle to be acquired

b)    Collateral may also be asked, depending on bank requirements

ii)            Guarantee by an acceptable third party is also required

iii)           Processing fee at 1% on loan amount is also charged. It is over and above interest at Corporation Bank Two Wheeler Loan interest rate.

iv)           Minimal amount of processing charge is Rs.1000, which is levied on all loan applications irrespective of borrower profile, as per Corporation Bank Two Wheeler Loan eligibility conditions.

v)            Both online as well as offline modes of application for loan are available.

Tenure Of Corporation Bank Two Wheeler Loan:

Loan has repayment tenure that stands at 7 years, at the end of which borrower should have repaid entire amount, including interest at Corporation Bank Two Wheeler Loan rate.

Repayment Of Corporation Bank Two Wheeler Loan:

Borrowers of above loan scheme should repay entire amount in a maximum of 84 equated monthly installments. Further, they should stay aware of any changes made by bank in the pre-determined Corporation Bank Two Wheeler Loan interest rate, as it is based on floating system of determination.

Product Page URL Of Corporation Bank Two Wheeler Loan: You may avail of further information, such as that related to Corporation Bank Two Wheeler Loan eligibility norms, etc, by merely visiting official website of bank at:http://www.corpbank.com/asp/0100text.asp?presentID=55&headID=73

Branch Office Address (In Table):