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Get A Two Wheeler Loan in Rajahmundry Upto 3.5 Lakh

Rajahmundry, also known as Rajamahendravaram, is a city located in Andhra Pradesh. It is famous for its Godavari River, the Godavari Bridge and lush green landscapes. Known for its heritage and vibrant festivals celebrating its diverse traditions Rajahmundry is considered a cultural hotspot. The city's strong agricultural roots and growing industrial sectors make it an attractive place for investment and development. With surroundings and a blend of cultural and economic opportunities, Rajahmundry offers a diverse destination with great potential for growth and success.

Features And Benefits of Two Wheeler Loan in Rajahmundry

Hero FinCorp offers competitive two-wheeler loans in Rajahmundry with minimal paperwork and quick approval. It also offers other benefits and features like:

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Loan Amount

Get financing up to Rs 3.5 lakhs to purchase your ideal two-wheeler with flexible support.

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Competitive Interest Rate

Enjoy competitive interest rates for affordable repayments and a lighter financial burden.

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No Collateral Requirement

Get a two-wheeler loan without collateral, ensuring easy and convenient financing access.

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Customisable Repayment Period

Choose a repayment term that suits your finances, offering flexibility for effective management.

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Effortless Approval Process

Enjoy a fast and seamless loan approval process with instant access to needed funds.

Eligibility Criteria for Two Wheeler Loan in Rajahmundry

To qualify for bike finance in Rajahmundry, meet the following criteria.

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Age

A minimum of 18 years old is required of applicants.

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Citizenship

The loan can only be applied by Indian citizens.

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Work Experience

1 year worth of work experience is a minimal requirement.

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Monthly Salary

Applicants should have a minimum monthly salary of Rs 10,000.

Documents Required to Apply for a Two Wheeler Loan in Rajahmundry

To apply for a bike loan in Rajahmundry, you need the following documents:

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 Rajahmundry

The interest rates for two-wheeler loans in Rajahmundry are designed to be competitive, ensuring that applicants have access to affordable financing options. With rates capped at a maximum of 36% per annum, prospective borrowers can benefit from attractive and cost-effective interest rates, contributing to the accessibility of two-wheeler loans for a broad spectrum of applicants. This emphasis on competitive interest rates reflects the commitment to providing financial solutions that align with the diverse needs of individuals seeking two-wheeler finance in Rajahmundry.

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 Rajahmundry?

Applying for a bike on loan in Rajahmundry is simple:

Here’s how you can apply online:

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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

No, the loan is collateral-free so you cannot put your bike for collateral.
You can get a maximum loan of up to Rs 3.5 lakhs in Rajahmundry from Hero FinCorp.
Yes, pre-approval options are available if you are an existing customer with us.
Hero FinCorp offers competitive rates and quick approval for a two-wheeler loan.
Yes, the application can be completed online easily and in minutes using our official website.