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FAQ:- bike loan

What is a bike loan, and how does it work?
A bike loan is a type of financing that helps you purchase a two-wheeler without paying the full amount upfront. You borrow money from a lender and repay it in easy EMIs over a fixed tenure with interest.
What are the eligibility criteria for a bike loan?
Most lenders require you to be at least 21 years old, have a stable income, and a good credit score. Salaried and self-employed individuals can apply, but specific criteria may vary by lender.
What documents are needed for a bike loan application?
Commonly required documents include identity proof (Aadhaar, PAN), address proof, income proof (salary slips or bank statements), and passport-sized photographs.
How much loan amount can I get for a bike purchase?
Loan amounts vary depending on your income, credit history, and lender policies. Many banks offer up to 90% of the bike’s on-road price, while some even provide 100% financing.
Can I get a bike loan with a low credit score?
Yes, some lenders provide bike loans to individuals with low credit scores, but the interest rate may be higher. Improving your credit score can help you get better loan terms.
 

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