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Tata Capital > Blog > Loan for Vehicle > Are There Any Benefits of Two-Wheeler Loans for Women?

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Are There Any Benefits of Two-Wheeler Loans for Women?

Are There Any Benefits of Two-Wheeler Loans for Women?

Given how two-wheelers can swiftly navigate the city’s hustle and bustle, they have become a pretty popular choice. Naturally, an increasing number of commuters, both men and women, are opting for loans to purchase their dream bikes and scooters.

Now, while lenders don’t provide exclusive benefits of bike loan for women, there are certain advantages that all borrowers enjoy. Let’s take a closer look at some of them.

Minimal paperwork

Long gone are the days when you’d have to fill up exhausting paperwork just to get a two-wheeler loan. Today, most lenders allow you to apply for loans online and require only minimal documentation. All you have to do is submit the application form and upload the scanned copies of the original documents, and the lender takes care of the rest. So, you enjoy a seamless borrowing experience without even stepping out of your house!

Affordable interest rates

In India, two-wheeler loan interest rates range anywhere between 11-20%. However, some lenders offer significantly lower interest rates to help borrowers easily afford their dream bikes. For instance, Tata Capital’s interest rates start at just 10.75%.

Additional Read: Top 5 Scooters for Working Women in India

Zero down payment loans

Say you’ve decided to purchase a two-wheeler through a bike loan. In that case, you’ll first have to pay a portion of the bike's cost as the down payment from your own pockets. The lender will provide a loan to finance the rest.

However, some lenders also offer zero down payment loans to finance the bike’s entire cost. Thus, you won’t have to pay any down payment. However, you’ll get the loan for only up to a specific price limit. For example, Tata Capital finances 100% of the bike's cost, going up to Rs. 1.5 lakhs.

Customised EMI plans

Want EMIs that suit your financial needs? Then you can go for a lender who offers flexible monthly instalments. This is often called a ‘flexi EMI plan’, where the instalments start low and gradually increase in the second half of your loan tenure. You can also opt for a standard plan where EMI remains unchanged if you have a fixed monthly income.

Longer repayment tenures

Whether it’s a two-wheeler loan for womenor men, standard repayment tenures range from 6-36 months. If you want a longer duration to service the loan EMIs comfortably, you can choose a lender who offers even longer tenures, which can go up to 60 months, like Tata Capital.

Additional Read: Best Lightweight Scooty for Girls

Turn to Tata Capital

If you want a loan to bring home your desired bike, let Tata capital finance it for you. Our exclusive benefits include flexible business loan eligibility, affordable interest rates, 100% vehicle cost financing, and longer loan tenures. Moreover, we also offer quick processing and a faster turnaround to help you get the money instantly. 

What’s more, you can use our two-wheeler loan EMI calculator to check the estimated instalment beforehand. Simply enter your preferred interest rate, loan amount, and duration. It’ll instantly display the results, and you can apply for a loan accordingly.

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