Getting a loan today for purchasing any commodity has become extremely easy and convenient due to the advancement of the online world. Loans can now be obtained online using simplified processes that are tailor-made for today’s fast generation. However, getting a loan from an unknown source or person can be quite risky. A trusted name like Bajaj Auto Finance can always be relied upon for small and big vehicle loans. It is basically a non-banking financial company that deals with many sectors of financing. It is one of the best platforms for availing a bike loan.
Here are some of its salient features:
1. Online Application Process: The entire application process and loan approval is possible online. This makes the process highly convenient for the users as there is no need to physically make trips to the bank and wait long periods of time for approval.
2. Lower Interest Rates: When you use the bike EMI calculator available at Bajaj Auto Finance website for availing bike loans, you may notice that this company provides one of the most competitive interest rates in the market. For the best rates and more information, find out more on the bike EMI calculator on their website.
3. Flexible Repayment Options: The repayment options provided by NBFC's are extremely flexible. Using these options, one can decide which mode of repayment would suits his financial situation most.
4. Fast Processes: Loans that are approved online are fast and quick. There is also a feature using which one can get instant approval for their loan without the need to wait for months.
The repayment schedule is basically the entire duration of your loan. This is flexible and can be chosen as per the needs of the customer. EMI or Equated Monthly Installment provides you with an easy repayment options for your loan over a period of time through fixed amounts of money that need to be repaid every month.
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The fixed instalments can be paid online by logging on to your loan account or through the quick pay facility. You can login into your account and click on the ‘make payment’ to pay your EMI online. To check the fixed EMI, dues and other information, you can give a missed call on the self-service helpline and get all the information via SMS.
One can also always pay a part of their loan or make a foreclosure online. All they need to do is login into their loan account on Bajaj Auto Finance website by providing the correct credentials. Then, by clicking on the ‘Part Foreclosure’ option, they can pay the amount through their secure gateway. In the account login page, one can also find other important details like undue payments, extra amounts charged etc.
Availing online loans on vehicles is the quickest and the best method to purchase a two wheeler or a four wheeler. A Bajaj Auto Loan will give you the advantage of owning a vehicle by systematically investing in your purchase every month without causing any heavy burden on your pocket.
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Auto loans also have the flexibility of early closure, which helps as there is no penalty imposed on early payment. An early pay-off will help you get an increased advantage of saving on the monthly interest, thus securing your line of credit and helping you in getting future loans. Saving up a lot of money to buy a bike may not always be possible. For those of you who have a constant income, getting a bike loan at a trusted firm like Bajaj auto is highly beneficial as it enables you to systematically plan your finances and pay the purchase amount in regular instalments.