5 Benefits of Buying Instant Bike Loan Online

Most of us love shopping online as it saves a lot of time and effort. Booking movie tickets online is another great way of enjoying luxury of escaping the queue and getting your work done at just few clicks. Did you know, most brands now have offers when you apply for the vehicle loan online.

Why not try getting your two wheeler loan online? It’s an effective way to see how things work on to your side through the power of internet. Still feeling shy? Let me help. Here you can go through the benefits that are on offer when you apply for a loan online.

Here are 5 Benefits of Buying Instant Bike Loan Online:

1) Lower Interest Rates: While you go to your nearest bank for a loan, the interest rate charged would be definitely higher than the one you see on your phone’s screen. This equates to a huge benefit as paying 14 percent for the same bike for 3-4 years will be considerably higher than paying 12 percent on same amount for the same period.

2) Discount in Processing Fee: Although there are certain conditions that govern the implementation of this fee, getting your loan processed online brings around 20-50 percent of discount in processing fee/file charge. The same 2 wheeler will now cost INR 500 less as applying through the nearest branch where the same charge could be INR 1000.

3) Self Eligibility Calculator: You can calculate your eligibility directly through a list of questions online. This include some personal details and availability of certain documents. You can check the same anytime, even after the banking hours are officially over. You will be notified about the factors missing in case you are not found eligible for the loan.

4) Faster Loan Approval: As the eligibility check takes just 5 minutes, getting a loan is actually faster online than visiting the nearest branch of the same service. You can call their toll free helpline for further help and even ask for a representative, who will visit you in the working hours and solve your problem. This even saves time as getting through an agent sometimes works negative to your saving plan.

5) Up to 100% Loan Amount: Certain products can avail up to 100 percent of loan amount and nothing could get better than that for buying a new 2 wheeler when you are already on low initial budget. Apart from products, few professions are even listed under full eligibility of loan amount. You can call their toll free number to know whether your department of work is covered under this scheme.

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