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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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