Corporation Two wheeler Loan Interest Rate
Corporation Bank Two wheeler Loan Interest Rates India Oct 2019
| Interest Rates | 12.35% |
| Maximum Loan Amount Eligibility | 75% of On Road Price |
| Maximum Loan Tenure | 3 Years |
| Lowest EMI per Rs. Ten Thousand Loan Amount | Rs. 334 |
| Processing Fee | 0.5% of Loan Amount with Minimum Rs. 500 |
| Prepayment Charges | Nil |
| Age | Between 21 years and 65 years |
Corporation Bank Two wheeler Loan
Corporation Auto Loan Interest Rates
Corporation Bank bike loan Interest rate calculator works on various inputs like:
- Salary - Higher salary bracket individuals are offered loans at lower interest rates. Corporation Bank auto loan rate varies with your net monthly income.
- Employer category – Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. Corporation Bank has a list of company categories of salaried individuals to which they avail two wheeler loans. So, higher company category leads to low rate of interest.
- Type of two wheeler - Corporation interest rate depends upon the type of bike you want to buy. If you have applied loan for a high value two wheeler, then the bank offer low interest rate on your two wheeler.
- Relationship with the Bank – Corporation Bank offers special rates, offers and charges to the salary account holders of the bank. Those who have managed their accounts low Corporation Bank 2 wheeler interest rate.
Corporation Two wheeler Loan Eligibility
Eligibility of 2 wheeler loan in Corporation Bank relies upon different factors but the most important factor is your ability to repay the loan. Two wheeler loan calculator calculates eligibility of an applicant depending upon various factors like
- Age: Age plays an important role to know your eligibility and repayment capacity. Corporation Bank offers two wheeler loan to individuals who are atleast 21 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
- Income: Corporation Bank bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. Corporation Bank asks for net annual income of minimum Rs. 0.5 Lakh.
- CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your two wheeler loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your two wheeler loan eligibility.
Corporation Two wheeler Loan EMI
Two wheeler Loan EMI ofCorporation Bank is a fixed amount that you pay each month towards the repayment of your bike loan till the end of tenure. Lowest EMI offered by Corporation Bank is Rs. 334 per lakh loan amount at lowest two wheeler loan interest rate of 12.35%. Corporation Bank bike loan EMI calculator depends on factors like:
- Auto Loan Corporation interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
- Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
- Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
- Two wheeler loan EMI calculation varies from bank to bank depending upon the method of calculation
Corporation 2 Wheeler Loan Apply
Corporation Bank gives the facility of bike loan to the people who want to fulfil their dream of having their own 2 wheeler. There are some features and benefits of taking auto loan from Corporation Bank:
- Trusted brand with customer friendly policies
- Low processing charges
- Zero prepayment charges
Documents Required for Corporation 2 wheeler Loan
Two wheeler loan Corporation Bank documents for salaried employees
- Signed loan application form
- Photographs
- Income Tax PAN Copy
- Identity Proof – Driving License/ PAN/ Passport/ Voter ID
- Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
- Income Documents – Form 16, last 3 months pay slip, bank statement of 3 months showing salary credit and any EMI debit
Two wheeler loan Corporation Bank documents for Self-Employed
- Signed loan application form
- Photographs
- Income Tax PAN Copy
- Identity Proof - Driving License/ PAN/ Passport/ Voter ID
- Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
- Income Documents – Last 2 years ITR
- Business existence proof such as VAT/ service tax registration, business address proof, incorporation details in case of companies
Compare Bike Loan Interest Rates of Corporation with other banks
Frequently Asked Questions on Corporation Bank Two wheeler Loan
Corporation Bank bike loan interest rates today are 12.35% to 12.35%.
What is the lowest EMI per lakh onCorporation Bank two wheeler loan?If you apply for a 2 wheeler loan from Corporation Bank, your lowest EMI per lakh will be Rs. 334.
What is the maximum tenure of Corporation bike loan?You can repay your bike loan from Corporation Bank in a flexible period of maximum 3 Years years.
How much auto loan I can borrow from Corporation Bank?Corporation Bank offers you 75%% of On Road Price of two wheeler as loan.
How much processing fee is charged by Corporation Bank on bike loan?Corporation Bank charge a processing fee of 0.5% of Loan Amount with Minimum Rs. 500% with applicable service tax.
Is age an eligibility factor to get two wheeler loan from Corporation Bank ?Yes, age is an important eligibility factor to get Corporation Bank two wheeler loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.
Are there any prepayment charges on Corporation Bank two wheeler loan?You can take two wheeler loan from Corporation Bank with Nil.
