In our buzzing country, two-wheelers have become a popular choice, especially to avoid the hassle of public transport, and to save time during traffic hours.
But sometimes it may so happen that you might not have enough savings to buy a two-wheeler at once, or even if you have enough savings, you might not want to spend so much upfront. In such a situation, you can take a two-wheeler loan from a bank, a non-banking financial company, or credit companies like TVS credit.
Before applying for a two-wheeler loan, you must know its benefits.
Gone are the days when you had to wait for months for a two-wheeler loan approval. Now, you can get a two-wheeler loan approved within minutes.
At TVS Credit, you can apply for a two-wheeler loan online with an attractive two-wheeler loan interest rate.
Better credit scores
You may be thinking why opt for a two-wheeler loan rather than paying via cash? But if you are a newbie to the world of finance and don’t know much about financials, then a two-wheeler loan is the best option to start your financial journey. Moreover, with TVS Credit’s online EMI calculator, you can easily calculate the repayment amount based on your affordability and other factors before applying for a two-wheeler loan.
If you’re looking to get a two-wheeler loan, but don’t want to pay a hefty amount of interest, it’s best to manage your finances wisely. Instead of paying cash up front, which may result in an overpay or an irregularity in payment, opt for a two-wheeler loan instead. It will allow you to save and manage your finances effectively.
Also, paying a small amount every month is far more financially prudent than paying a massive amount in one go. You can enjoy flexible repayment tenures and a doorstep documentation facility at TVS Credit.
Flexible Repayment Plans
Nowadays, two-wheeler loan repayment schedules are quite flexible. You will need to pay it back to the bank the two-wheeler loan amount in the form of instalments as Repayment schedule. Most of the banks give 12-48 months’ tenure. This will reduce your monthly EMI.
If you can get a loan for your two-wheeler, why not take advantage of it? With this type of finance, you can also get insurance coverage and accidental cover. If you have a high loan amount, please quote the on-road price of the motorcycle rather than the showroom price. But be wary that on-road price consists of RTO, insurance, and ex-showroom price.
Two-Wheeler Loan Tax Exemption
When you opt for a two-wheeler loan, you will benefit two-wheeler loan tax exemption since you will be paying off the loan in instalments. It will save you a lot of money because once the loan is taken care of, you’ll be able to ride your bike without paying taxes and insurance.
With TVS Credit, you can benefit from competitive interest rates and hassle-free processing with approvals within 2 minutes. We offer complete transparency with no hidden costs throughout the borrowing process along with fast processing times. Check the to know more.