Two Wheeler Loan Eligibility
The table below mentions the details for a bike loan eligibility / 2 wheeler loan eligibility
| Parameters | Description |
|---|---|
| Minimum Loan | INR 15,000 |
| Maximum Loan | INR 10,00,000 |
| Loan Tenure | Minimum - 12 months, Maximum - 36 months |
| Loan Borrowers (Ordinary Resident) | Individuals: Salaried and Self-employed, Housewife, Students.Non Individuals: Proprietorships, Partnerships, Private Limited Companies, Limited Companies, HUF |
| Age of Borrower (Individuals) | Minimum : 21 years on Loan application Maximum: 65 years on Loan maturity |
| Repayment mode | Primary mode: NACH- National Automated Clearing House |
| PDC | One PDC for initial 1st Emi banking |
| Primary Security and Collateral | Hypothecation in favour of lender-RCFL on TW Registration Certificate and valid insurance policy |
| Use of vehicle | The financed vehicle to be used for personal consumption and not for commercial use |
| Loan to value | Upto 100% on the ORP( on road price) On Road Price includes- Ex-showroom cost and insurance with applicable taxes |
| Eligible Collateral | Two wheeler with Hypothecation in favor of RCFL. Assets as per Reliance Money approved list. |
| Emi cycle | Any of the dates between -2nd/3rd/4th/5th of month |
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