High Loan Amount
Obtain a substantial loan amount of up to ₹3.5 Lakhs to fulfil your aspirations of owning your dream bike.
Two Wheeler Loan EMI Calculator
Get A Two Wheeler Loan In Ranchi Upto 3.5 Lakh
Ranchi is known for its natural wonders, including scenic waterfalls, lush green forests, and verdant hills. The city is situated on the Ranchi Plateau of the eastern Chota Nagpur plateau system, with lofty flat-topped hills (pats) in the northwest. It is one of Eastern India's major industrial cities and an important cotton, tea, and agricultural trade hub. The city's major industries include silk production, shellac, and heavy machine tools. Ranchi is home to the headquarters of the National Coal Development Corporation, the Heavy Engineering Corporation, and the Hindustan Steel Company.
As the city expands, merging its rich history with contemporary ambitions, the needs of its inhabitants also transform. One of these evolving demands is the growing interest in individual transportation, leading to a high demand for two-wheeler loans in Ranchi. Many individuals are now seeking these loans to effortlessly navigate the city's unique blend of old-world charm and modernity.
Features And Benefits of Two Wheeler Loan in Ranchi
Explore the key to accessing versatile financial solutions in Ranchi.
Attractive Interest Rate
An appealing interest rate is offered to ensure that the instalments remain affordable.
Collateral Free
No need to worry if you don't have any assets. Our loans don't require collateral, making it accessible to everyone.
Flexible Repayment Tenure
Select a repayment plan that aligns with your preferences and needs.
Instant Approval
Receive immediate approval for your loan application.
Eligibility Criteria for Two Wheeler Loan in Ranchi
To be eligible for a bike loan in Ranchi, applicants must fulfil the following criteria:
Age
Ensure you are at least 18 years of age.
Citizenship
You should be a citizen of India.
Work Experience
A minimum of one year of work experience is required for eligibility.
Monthly Salary
You must earn a minimum monthly income of Rs 10,000.
Documents Required to Apply for a Two Wheeler Loan in Ranchi
Preparing the right documents is crucial for a smooth loan application process. Here's a comprehensive list of required documents based on your employment status:
Documents Required for Salaried Employee
Loan Application
Duly filled loan application form, Passport-size coloured photograph
Identity Proof
Driving Licence, Aadhaar card, Passport, PAN Card, ID Card (issued by Central Government/State Government/PSUs)
Residence Proof
Driving Licence, Aadhaar Card, Passport, Property or Municipal Tax Receipt, Ration Card, Utility Bill
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
Job Continuity Proof
Job offer letter from the current employer, Experience certificate from the previous employer
Age Proof
Birth Certificate, Passport, PAN Card, Driving Licence
Office Address Proof
(Not required for salaried employees)
Property Documents
(Not required for salaried employees)
Documents required for Self Employed
Loan Application
Duly filled loan application form, Passport-size coloured photograph
Identity Proof
Driving Licence, Aadhaar card, Passport, PAN Card
Residence Proof
Driving Licence, Aadhaar Card, Passport, Ration Card, Utility Bill
Income Proof
(Not required for self-employed)
Job Continuity Proof
(Not required for self-employed)
Age Proof
Birth Certificate, Passport, PAN Card, Driving Licence
Office Address Proof
Maintenance Bill, Utility Bill
Property Documents
Rent Agreement, SSI or MSME Registration Certificate
Interest Rates and Charges for Two Wheeler Loan in Ranchi
A two-wheeler is more than just a means of transportation; it symbolises the excitement of independence. At Hero FinCorp, our goal is to provide affordable two-wheeler loans, making this sense of freedom accessible to everyone. With a compatible two-wheeler loan interest rate as low as 14% per year, we aim to turn your dreams into reality. Curious to learn more? Keep reading for additional information.
How To Apply For a Two Wheeler Loan in Ranchi?
Availing a Two-wheeler Loan in Ranchi through Hero FinCorp is a straightforward process:
Here’s how you can apply online:
- 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, getting a two-wheeler loan in Ranchi is possible without a down payment. However, it is important to note that most lenders require a down payment, and opting for a zero-down payment loan may result in higher interest rates.
The time taken to get approval for a bike loan in Ranchi can vary from instant approvals to a few working hours, depending on the lender and the loan application process.
The age eligibility criteria for a two-wheeler loan in Ranchi typically require the applicant to be at least 21. However, the maximum age limit may vary depending on the lender.
The loan disbursal process for a two-wheeler loan in Ranchi typically involves applying for the loan, submitting the necessary documentation, verifying the documents, loan approval, and disbursal of the loan amount to your bank account. However, the disbursal time may vary from lender to lender. Choosing Hero FinCorp for a two-wheeler loan can be prudential as we quickly disburse the loan amount.
A guarantor is not mandatory to apply for a two-wheeler loan in Ranchi, some lenders may require one if the applicant does not meet the eligibility criteria.