Corporation Bank Two Wheeler Loan Eligibility Norms:
Funding is provided on easy terms, including Corporation Bank Two Wheeler Loan rate, to applicants who are able to satisfy below mentioned set of Corporation Bank Two Wheeler Loan eligibility criteria:
a) Salaried employees of government and other organizations, who are confirmed in their service.
b) Directors of companies; trustees are also eligible
c) Non-salaried borrowers, such as professionals and businessmen
- Institutions: registered companies, firms and trusts, HUFs, Sole Proprietorships
- Quantum Of Corporation Bank Two Wheeler Loan:
i) Maximum amount of loan disbursed at Corporation Bank Two Wheeler Loan interest rate, is as per permissible limit, equivalent to Rs.75 lacs, per vehicle
ii) Margin is also considered before disbursal: 15% of cost price of vehicle to be acquired
- Procedure To Be Followed While Applying For Corporation Bank Two Wheeler Loan:
Applicants may be able to apply for loan at Corporation Bank Two Wheeler Loan rate, by simply logging on to website of bank. However, following points should be borne in mind:
i) Security is required:
a) Primary: hypothecation on vehicle to be acquired
b) Collateral may also be asked, depending on bank requirements
ii) Guarantee by an acceptable third party is also required
iii) Processing fee at 1% on loan amount is also charged. It is over and above interest at Corporation Bank Two Wheeler Loan interest rate.
iv) Minimal amount of processing charge is Rs.1000, which is levied on all loan applications irrespective of borrower profile, as per Corporation Bank Two Wheeler Loan eligibility conditions.
v) Both online as well as offline modes of application for loan are available.
- Tenure Of Corporation Bank Two Wheeler Loan:
Loan has repayment tenure that stands at 7 years, at the end of which borrower should have repaid entire amount, including interest at Corporation Bank Two Wheeler Loan rate.
- Repayment Of Corporation Bank Two Wheeler Loan:
Borrowers of above loan scheme should repay entire amount in a maximum of 84 equated monthly installments. Further, they should stay aware of any changes made by bank in the pre-determined Corporation Bank Two Wheeler Loan interest rate, as it is based on floating system of determination.
- Product Page URL Of Corporation Bank Two Wheeler Loan:
You may avail of further information, such as that related to Corporation Bank Two Wheeler Loan eligibility norms, etc, by merely visiting official website
