Federal Bank Two-Wheeler Loan

Federal bank caters to the needs of all of its customers by offering a flexible two-wheeler loan.

Features & Benefits of Federal Bank Two-Wheeler Loan

1. lesser burden of EMIs (Equated Monthly Installments).

2. Reduced interest rates.

3. The applicant has the choice of opting for a longer loan settlement tenure.

4. Quick disbursal of the loan

5. The bank has a transparent system with no veiled charges.

6. The objective of Loan:

The two-wheeler loan from Federal Bank can be availed for purchasing new two-wheelers for own use of the customer.

7. Tenure of Repayment:

The applicant can take up to 48 months of tenure to settle the entire loan.

8. Processing Fee:

The Federal bank levies 50% of the sanctioned loan amount or Rs.  500 (whichever is more).

9. 2% of overdue EMI if the borrower delayed the payment for more than a month.

Eligibility Criteria of Federal Bank Bike Loan

1. The applicant should be at least 18 years old and a maximum of 65 years old.

2. The applicant should have a sturdy income. He or she can be a permanent salaried employee, entrepreneur, self-employed, freelance professional, or any independent professional.

3. The borrower can also avail the loan on behalf of a company, partnership organization, proprietorship, as well as trust and societies.

Documentation Required for Federal Federal Bank Two- Wheeler Loan

• The KYC documents of applicants such as ID and address proof.

• Latest passport size photo (along with the co-applicant if any)

• Proof of entrepreneurship:

• Income documents such as salary slips, bank statements, IT Return Papers.

• Business people also need to audit balance sheet, P&L statements as well as Tax Paid Challans.

• If you are an NRI, you will be required to provide the employment certificate, embassy attested papers, as well as two years of NRI Account Statement.