Bike Loan for Students

Two wheeler is an extremely popular mode of transport in India. It offers independence to travel and the agility to beat traffic. Two wheelers have become a useful commodity for many Indians for their daily commute. As long as all the safety conditions are followed, two wheelers are a great commuting mode and highly popular among students too, especially students living in hostels in cities far away from home.

Two wheelers help students commute independently, without having to depend on their parents or public transport. It is an excellent age to encourage one’s children to start learning how to drive. With the right financing, purchasing the perfect two wheeler for your teenage children can be easily managed. Thus, if you are looking for options to get your teenage son or daughter their first vehicle, you can go for a SMFG India Credit two wheeler loan.

Two wheeler loans are provided by SMFG India Credit to eligible candidates at an extremely affordable rate as low as 8%. at a loan-to-value as high as 100%* of the bike amount and up to Rs. 30 lakhs*. Your repayment tenure is flexible up to 36 months so that it is easy on your pocket. Bike loan for students with SMFG India Credit make it very easy for the young population to fulfill their dreams, and begin their journey of self-reliance.

Let’s see the features and benefits of SMFG India Credit’s bike loan:

1. Eligibility:

Students can apply for a two wheeler loan with SMFG India Credit with their parent(s) as the primary applicant. The primary applicant must be a salaried or a self-employed individual, not more than 65 years of age (at the time of loan maturity). Other criteria for primary applicants are as follows:

1. Must be a resident Indian
2. Minimum monthly salary of INR 25,000 (for residents of Mumbai and Delhi) or INR 20,000 (other Indian cities)
3. Must have a good credit score and credit history

2. Documentation

The applicant can fill the loan application form and submit the KYC documents like identity proof, PAN card, voter’s ID, passport, and driving license, along with passport size photographs. Salaried individuals need to additionally submit salary slips for the past 3 months and the latest form 16. Self employed individuals need to submit the latest income tax returns. Once all these are submitted, the processing time begins. These documents may be submitted at the branch.

3. Procedure to Apply

SMFG India Credit’s procedure to apply is extremely simple. It is a quick and hassle-free process. You can apply for two wheeler loan online by clicking on the ‘Apply Now’ button. Fill in the required information carefully and ensure that there are no errors, and submit. You will then receive a call from our representative and your application will be taken forward. After successful document verification, the required funds will be disbursed.

4. Two Wheeler Loan EMI Calculator

SMFG India Credit has a two wheeler loan EMI calculator so that you can get an exact estimate of your monthly EMI payments. Such a calculator lets you plan your expenses better. It is extremely easy to use. You only have to enter some basic details like loan amount, interest rate, and tenure and you get the EMI amount in a few seconds.

With all the convenience, you can apply for a two wheeler loan easily with SMFG India Credit and enjoy the zero down payment option*, thereby enabling you to get your bike without having to pay anything upfront. So go ahead and grab your opportunity for SMFG India Credit’s two wheeler loan for students.

*Terms and conditions apply

Apply for Two Wheeler Loan