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The latest trend in the two-wheeler industry is the ease of availing a two-wheeler loan to obtain a bike. This mechanism has been put into place to help the citizens lying in the middle-class strata of the society to pay monthly EMIs comfortably rather than pay a huge lump sum amount which can be difficult for the particular individual due to financial constraints.
To apply for a two-wheeler loan, the first order of business should be checking the two-wheeler loan eligibility criteria for obtaining the loan. The money lenders these days are very cautious and only approve the loan after reviewing the paying capacity of the borrower. There are several thorough background checks which are done before the loan is sanctioned.
This is done because of the sudden rise in the number of frauds occurring in the lending-borrowing business. In order to ensure the approval of the loan request, you must gather some necessary documents along with your credibility by a fixed standard for approval of the loan.
Additional Read: How To Choose The Best Two Wheeler Loan?
For Address proof, all of the above documents can be used, along with the latest electricity bill, phone bill, property documents and any other bill stating the address.
For applicants who are earning a fixed amount of salary from doing a job, they must provide the offer letter and the latest salary slips and bank statements of last months and the newest form 16.
For self-employed applicants, they are required to provide the last three years IT return slips, previous six-monthly bank statements, TDS certificate, along with any company details present.
It is recommended to keep a batch of photocopies of these documents and the original copies handy during the process of two wheeler loan online approval. Based on all of these documents, your lender will process the application and provide an outcome on your loan request.
To apply for the two-wheeler loan online, you can visit www.bajajautofinance.com, where it is easier to obtain the two wheeler loan online approval based on your CIBIL score, the rate of interest will be determined.Apply for Loan Calculate Your EMI