Nowadays, availing a two-wheeler loan is not just a necessity, but also a financially viable investment opportunity. Such a loan enables you to buy a two-wheeler of your choice without having to compromise on features or functionalities at an affordable price. More importantly, you can get the latest model without expending a large chunk of your savings, which can be further invested.
To avail of a two-wheeler loan, you should be eligible, and this is where the Bajaj loan eligibility criteria comes into play. When you access the Bajaj Finserv website, go through the eligibility requirements and in case you meet all the counts, it is time to fill in the application. Buying a two-wheeler through a loan does have its advantages, as it makes you financially responsible in the long run. There is a window for negotiation too, which can provide you with a favourable interest rate and flexible terms and conditions.
Knowing how to make yourself eligible for availing of a two-wheeler loan can work in your favour in more ways than one. Firstly it would grant you the opportunity to sort out the financial situation to match the eligibility criteria. Secondly, you will save precious time while filling in the application owing to being aware of the Bajaj loan eligibility requirements. In addition, the knowledge can serve as the base for you to acquire a two-wheeler for personal use.
As to why you need to think in terms of buying a two-wheeler, reasons could range from the ease of commuting through heavy traffic to saving time. Once you are convinced that this investment can accrue multiple long-term benefits, it is time to check whether or not you are eligible. Courtesy of the strong online presence of financial entities, nowadays all you need to do is access the different websites to find out the factors that would render you eligible.
To this effect, listed as follows are Bajaj loan eligibility requirements for availing of a two-wheeler loan –
- Indian citizenship, which is a must for you to be able to avail of the loan;
- Age limit, wherein you should be more than 18 years of age, but not beyond 65 years old;
- Employment status, which is inclusive of students and homemakers in addition to salaried, self-employed and pension receiving professionals;
- Level and source of income, both of which are accepted by the lender without any documentation;
- CIBIL score, which is waived off by the lender in context of two-wheelers;
Therefore, you can avail of the two-wheeler loan despite being retired as long as you draw a pension. Likewise, waiving off the CIBIL score renders this loan as being more accessible as compared to other financial products. So, even if you do not boast of an impeccable financial history, chances of buying a two-wheeler through a loan still remain high.
An equally important reason for checking the Bajaj loan eligibility pertains to the various benefits that accrue, namely –
Choose any model you like – As opposed to your personal savings, a loan grants you greater freedom to pick any two-wheeler model regardless of the price. In the event that your savings fall short, you will have little choice other than compromising on the features and functionality. A loan, on the other hand, enables you to pick any model that you are comfortable with, preferably for long-term usage.
Build your savings – By relying on a two-wheeler loan to purchase a vehicle, you will have protected your savings from being expended. Going ahead, you can invest the amount in such a way that it grows and multiplies, and can cater to emergencies.
Gain financial awareness – Having availed of the loan, you need to work out the math and take responsibility for timely payment of the monthly instalments. Therefore, not only do you become financially aware, but also financially disciplined as regards how you should spend the money.
Favourable terms – All you need to do as a potential customer is to compare the two-wheeler loan deal being offered by different lenders and identify one which is most favourable. Some aspects that you must compare pertain to interest rates, tenure for repayment and flexibility in terms of closure.
Final word
Gone are the days when people used to graduate from a two-wheeler to a four-wheeler. Given the traffic congestion and rising fuel costs, investing in a two-wheeler has emerged as the latest trend. So, go through the Bajaj loan eligibility criteria to find out if you can also become a part of this new fad in an affordable manner.
Visit the Bajaj Finserv website which has all the information on how to apply for a two-wheeler loan. If you are eligible, just fill the application form on the web page and await intimation.
Pankaj Tripathi is a content marketer with over 6 years of experience. With experience in the industries of B2B SAAS, e-commerce, and the hospitality sector, Pankaj brings a wealth of knowledge to his writing. In his initial role, he supported over 100 writers in creating content for diverse fields such as finance, medicine, insurance, and media and publications.