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Get A Two Wheeler Loan In Nagpur Upto 3.5 Lakh

Nagpur, the "Orange City," blends rich culture with modernity, making it a captivating destination for tourists. Deekshabhoomi, one of the city's most prominent attractions, is a sacred monument where Dr. B.R. Ambedkar chose to follow Buddhism, representing social justice and a significant site for pilgrims. While exploring the vibrant city, tourists can also enjoy the lush orange orchards and indulge in the delicious citrus fruits.

Thanks to its diversified economy, Nagpur has become a notable industrial hub, marked by various industries such as manufacturing, IT, and logistics. This economic diversity has led to a vibrant job market and entrepreneurial opportunities, making the city an excellent place to work and live.

Moreover, two wheeler loans in Nagpur are readily available for quick and hassle-free mobility, making commuting convenient and efficient. The city’s harmonious blend of tradition and progress and the convenience of quick two-wheeler loans make it an exciting and convenient place to live in.

Features And Benefits of Two Wheeler Loan in Nagpur

The two-wheeler loan in Nagpur has many benefits and features. If we talk about its features, it comes with high loan amounts and offers attractive interest rates, flexible repayment tenure and instant approval.

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High Loan Amount

Getting a bike loan in Nagpur has become easy. It offers anywhere between Rs.10,000 and Rs.3,50,000.

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Attractive Interest Rate

Bike on loan in Nagpur enhances the affordability and budget-friendliness of your dream bike or scooter purchase.

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Collateral Free

In Nagpur, secure a collateral-free two-wheeler loan, making it easy to finance your dream bike.

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Flexible Repayment Tenure

The Two-Wheeler Loan in Nagpur offers flexible repayment options for up to 60 months for convenience.

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Instant Approval

Get fast approval for your Bike Loan in Nagpur, and ride your new bike without delay.

Eligibility Criteria for Two Wheeler Loan in Nagpur

To buy a bike on loan in Nagpur, applicants need to fulfil these eligibility criteria:

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Age

Ensure you are at least 18 years of age.

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Citizenship

You should be a citizen of India.

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Work Experience

Salaried and self-employed individuals can apply, with at least one year of experience.

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Monthly Salary

You must earn a minimum monthly income of Rs 10,000.

Documents Required to Apply for a Two Wheeler Loan in Nagpur

To apply for a two-wheeler loan in Nagpur, you'll need the following documents along with a duly signed loan application form and passport-size coloured photograph:

Documents Required for Salaried Employee

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Loan Application

Duly filled loan application form, Passport-size coloured photograph

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Identity Proof

Driving Licence, Aadhaar card, Passport, PAN Card, ID Card (issued by Central Government/State Government/PSUs)

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Residence Proof

Driving Licence, Aadhaar Card, Passport, Property or Municipal Tax Receipt, Ration Card, Utility Bill

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Income Proof

Salary Slips (last six months), Bank Account Statement of the last six months (salary account), Salary certificate (stating name, designation, and authorised signatory), Form 16

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Job Continuity Proof

Job offer letter from the current employer, Experience certificate from the previous employer

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Age Proof

Birth Certificate, Passport, PAN Card, Driving Licence

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Office Address Proof

(Not required for salaried employees)

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Property Documents

(Not required for salaried employees)

Documents required for Self Employed

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Loan Application

Duly filled loan application form, Passport-size coloured photograph

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Identity Proof

Driving Licence, Aadhaar card, Passport, PAN Card

Residence Proof

Driving Licence, Aadhaar Card, Passport, Ration Card, Utility Bill

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Income Proof

(Not required for self-employed)

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Job Continuity Proof

(Not required for self-employed)

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Age Proof

Birth Certificate, Passport, PAN Card, Driving Licence

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Office Address Proof

Maintenance Bill, Utility Bill

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Property Documents

Rent Agreement, SSI or MSME Registration Certificate

Interest Rates and Charges for Two Wheeler Loan in Nagpur

Have you always dreamt of riding your dream bike but been put off by high interest rates? Well, you need not worry much. Our two-wheeler loans in Nagpur offer more than just a way to get around; they give you the freedom and excitement of open-road adventures.

Maximum Loan Amount

Rs.10000 (Min) – Rs.3,50,000 (Max)

Maximum Loan Tenure

6 Months (Min.) – 60 Months (Max)

Interest Rate

14% - 36% (Upto 36 %)

Processing Fees

Up to 5% of Loan Amount

Other Fees (Promo Charges, PDD Charges, ECS charges, Doc Charges)

As per Schemes

Prepayment Charges

5% on Principal outstanding (additionally interest up to 6 months for foreclosures within 6 months from date of disbursement)

Cheque/NACH dishonor charges

350/-

Cheque Swap Charges

500/- per request

Delayed Payment Charges

3% per/ month on EMI overdue

Default Charges

Additional as applicable

Stamp duty Charges

As applicable

Re-imbursement of Collection charges

Actual

Legal, Repossession & Incidental Charges

Actual

Other Charges

As applicable

Taxes

GST and all other applicable taxes statutory levies, if any will be charged additionally.

How To Apply For a Two Wheeler Loan in Nagpur?

Applying for a Two-wheeler Loan in Nagpur with Hero FinCorp is a breeze:

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  • 1

    Visit the Two-Wheeler Loan section on the Hero FinCorp website.

  • 2

    Click the ‘Apply Now’ button.

  • 3

    Enter your details and select the ‘Hero MotoCorp Two-Wheeler dealership’ from where you want to buy the vehicle.

  • 4

    Select the checkbox to agree to our ‘terms and conditions’ and submit.

Frequently Asked Questions

Yes, self-employed individuals can apply for a bike loan in Nagpur.
The processing fee ranges from 1% to 3% of the loan amount in Nagpur.
Yes, students can apply for two wheeler loans in Nagpur, provided they meet specific eligibility criteria.
You can repay your bike loan through EMI.
The maximum loan tenure for a two wheeler loan in Nagpur is generally up to 5 years.