Top Features and Benefits on Bike Loan

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Flexible Loan Amount

Choose any loan amount from Rs.5,000 to Rs.10 Lakh depending on your eligibility

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Quick Eligibility

Check your eligibility on the moneyview website in just 2 minutes

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Collateral Free Loans

Personal loans from moneyview are unsecured loans, which means you won’t have to pledge any asset or arrange for a guarantor

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Affordable Interest Rates

Avail loans at affordable rates starting at just 1.33% per month

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Completely Paperless

The process of loan application is 100% paperless and can be completed on your mobile

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Flexible Repayment Term

Applicants can enjoy flexible repayment tenures from 3 months to 5 years

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Loans on Low Credit Score

At moneyview, you can get instant personal loans with a CIBIL or Experian score of 650

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24 Hour Disbursal

Once your loan has been approved and you have submitted your loan agreement, the funds will be credited to your account within 24 hours in most cases

Owning a two-wheeler can simplify your life in many ways. You don’t have to wait for public transport and can freely travel to your destination. 

But purchasing a bike with your savings can be difficult. A two wheeler loan or an online bike loan can be a great idea in such cases. 

You can also choose to take an instant personal loan from moneyview and use the funds to purchase your dream bike. If you have come this far looking for a personal loan for bikes, we have the perfect one for you!

Instant Personal Loans from moneyview as Bike Loan

An online bike loan or a two wheeler loan is a type of secured loan that is used to specifically finance a bike. You can get these from any bank or NBFC, but sometimes they may take loanger to get approved.

When the requirement is urgent, you can opt for an instant personal loan instead of an bike loan. That way you don’t even have to look for a collateral, and your two-wheeler will be under your ownership from day one.

One of the most popular loan providers in the country, moneyview disburses loans in 24 hours after approval at extremely competitive rates. Sounds interesting? Read on to know more.

How Can an Instant Personal Loan from moneyview be Better Than a Regular Two Wheeler Loan?

While a number of banks and financial institutions provide two wheeler loans or online bike loans with exciting offers, a personal loan might be a better choice for you. Check out the reasons below to know why -

100% Financing

In the case of two wheeler loans, you have to arrange for a downpayment as you can only get 80-90% of the cost of the bike as a loan. 

But if you apply for a personal loan on moneyview, you can apply for a loan of the entire amount that you require. So you can buy a bike instantly without worrying about arranging the amount needed for the downpayment.

No Hypothecation Needed

When you take bike loans, your vehicle remains hypothecated to the financer/lender till you clear the loan availed. The vehicle is considered as collateral until the loan is repaid. 

However, when you take an instant personal loan from moneyview to buy a bike, hypothecation is not required at all. The vehicle remains registered in your name right after purchase.

Easy Availability

One of the biggest advantages of availing of an online personal loan over an online bike loan is that the former is easier to procure. From application to disbursal, an instant personal loan is very convenient to avail as you will not have to make multiple trips to the bank, compare different rates, and wait for days to get approval. 

At moneyview, the entire process is online, and once approved, you will receive the funds within 24 hours in most cases.

Minimal Documentation

A regular online bike loan or a two wheeler loan requires a lot of documentation as compared to a personal loan. 

Moreover, if you apply for an instant personal loan from moneyview, it requires minimal documentation such as identity proof, address proof, and income proof. Apart from this, moneyview does not require any hard copies of documents as the process is completely online.

Available on Lower CIBIL Score

Two wheeler loans or bike loans taken from the bank or other financial institutions require a credit score of 750 or more. There might be many applicants who are new to credit and might not have a high score, which will make it difficult for them to avail of traditional bike loans.

Whereas, you can get a moneyview personal loan with a CIBIL or Experian score of just 650.

Comparable Interest Rate

Traditional bike loan interest rates start at 10% and may go up to 22%. Various factors like your credit score, income, repayment of previous loans, etc. play a role in deciding the rate of interest. 

On the contrary, interest rates of personal loans from moneyview start from 1.33% per month.

Quick Approval and Disbursal

If you were searching for ‘bike loan apply online’, even that would take 4-5 business days to get approved. 

On the other hand, the application and approval process for moneyview personal loans is super quick. You can check your eligibility in just 2 minutes, and once your loan is approved and you sign the loan agreement, the funds get disbursed in just 24 hours.

Important Features of a moneyview Personal Loan

moneyview personal loans come with a lot of benefits and features. Some of them are -

Factors to Look for While Availing of a Two-Wheeler Loan

Searching for ‘bike loan apply online’? Before you decide on taking a bike loan, you should pay attention to a few factors. They are -

Interest Rates:

Compare bike loan interest rates offered by various lenders before zeroing in on the option that suits your finances the best.

Processing Fees:

Processing fees can be a fixed amount or a percentage of the loan amount. Do not forget to factor in these fees while calculating the overall cost of the loan.

Foreclosure Charges:

If you are looking to close your loan at the earliest, then you should do so only after checking the foreclosure charges levied by the lender.

Processing Time:

Compare the processing time taken by various lenders.

Documentation:

Extensive documentation will take a lot of time for verification and approval. Hence it’s ideal that you choose a lender who does not require too many documents.

CIBIL score:

A good credit score is a basic necessity for availing any loan. It is good to check your CIBIL score well in advance before you apply for a loan.

Income:

The loan amount that is disbursed to you will depend on your income. A high income increases the chances of getting a higher loan amount.

How to Apply for an Online Bike Loan

If you have decided to apply for a personal loan from moneyview and use the funds to purchase a bike, you will be surprised that the process is very simple. Here are the four steps involved in getting an instant personal loan from moneyview - 

Check Eligibility

Find out the maximum loan amount you’re eligible for on the moneyview website in 2 minutes

Select Loan Tenure

Choose a custom loan amount and the repayment period based on the options available and your needs

Upload Documents

Provide your personal details and upload the necessary documents, all on the app or website

Amount Disbursed

After the loan is approved and you have submitted the loan agreement, the funds will be credited to your bank account within 24 hours in most cases.

While a number of banks and financial institutions provide two-wheeler loans with exciting offers, a personal loan might be a better choice for some of you. Check out the reasons below to know why -

  • 100% Financing

    When you avail two-wheeler loans, you don’t just have to provide a downpayment but you also get only 80-90% of the cost of the bike as loan. However, when you apply for a bike loan on an app like Money View, the entire amount that you require can be availed as loan. So you can buy a bike instantly without worrying about arranging the amount needed for the down payment.

  • No Hypothecation Needed

    When you buy two-wheeler loans, your vehicle remains hypothecated to the financer/lender till you clear the loan availed, i.e., it will be considered as collateral until the loan is repaid. But if you use an instant personal loan from Money View to buy a bike, hypothecation is not required at all. The vehicle remains registered to your name from the beginning

  • Easy in Avail

    One of the biggest advantages of availing an online personal loan for bikes is that it is easy to get.. Right from application to disbursal, an online bike loan is very convenient to avail as you will not have to make multiple trips to the bank, compare different rates, and wait for days to get approval. With Money View, the entire process is online, and once approved, you will receive your loan within just a day.

  • Minimal Documentation

    A regular two-wheeler loan requires a lot of documentation whereas an online personal loan that can be used to purchase a two-wheeler requires minimum documentation such as identity proof, address proof, and income proof.

    Moreover, no hard copies of any documents are required.

  • Available on Lower CIBIL Score

    Two-wheeler loans that are available through traditional sources like banks and other financial institutions require a high CIBIL score of 750 or more which might be difficult for everyone to achieve. Also, there might be many more who are new to credit who might find it difficult to avail traditional bike loansMoney View personal for bikes, on the other hand, is available even for those with relatively lower credit scores, with the minimum credit score being a CIBIL score or an Experian score of 650.

  • Comparable Interest Rate

    The interest rates for bike loans from traditional sources start at 10% and go up to 22%. Various factors like your credit score, income, repayment of previous loans, etc play a role in deciding the rate of interest. Personal loans from Money View that can be used as a bike loan as well come at a comparable interest rate that start at 1.33%.

  • Quicker Approval and Disbursal

    Money View Personal loans are extremely quick regarding application approval as well as loan disbursal. Approval takes just 2 minutes and disbursal is done at the earliest thereafter (not longer than 24 hours), thereby saving precious time and effort on your part as an applicant.

Some of the important features of Money View Personal Loans that you should know before applying for one are:

  • Maximum Amount Allowed: Up to Rs 10 lakhs
  • Tenure Allowed: Up to 60 months
  • Interest Rate: 1.33% onwards
  • Processing Fee: 2 - 8 % of the loan amount
  • Prepayment Penalty: Nil, as long as 3 EMIs are paid
  • Interest on Overdue EMI: 2% per month

The amount disbursed and repayment tenure will be decided based on your eligibility and credit score.

Owning a two-wheeler is always an advantage and going in for a loan might be one of the easiest ways of owning one. However, there are many aspects involved in availing a two-wheeler loan which you should pay attention to as given below -

  • Interest Rates:

    Compare interest rates offered by various lenders before zeroing in on the option that suits your finances the best.

  • Processing Fees:

    Processing fees can be a fixed amount or a percentage of the loan amount. Do not forget to factor in these fees while calculating the overall cost of the loan.

  • Foreclosure Charges:

    If you are looking to close your loan at the earliest, then you should do so only after checking the foreclosure charges levied by the lender.

  • Processing Time:

    An important factor to be considered, compare the processing time taken by various lenders.

  • Documentation:

    An extensive documentation will take a lot of time for verification and approval. Hence it’s ideal that you choose a lender who does not require too many documents.

  • CIBIL score:

    A good credit score is a basic necessity for availing any loan. It is good to check your CIBIL score well in advance before you apply for a loan.

  • Income:

    The loan amount being disbursed to you will depend on your income. Lower your income, lower is the loan amount disbursed to you.

So what are you waiting for? The next time you look for ways to finance your dream two-wheeler , think of availing a personal loan from Money View for the same instead of taking the traditional route.

How to Get Bike Loan

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Check Eligibility

Find out the maximum loan amount you’re eligible for online in 2 minutes

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Select Loan Tenure

Choose a custom loan amount and the repayment period that suits your financial needs

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Upload Documents

Provide your personal details and upload the necessary documents, all on the app or website

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Amount Disbursed

Get the loan amount disbursed to your account in 2 hours of approval

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Conclusion

A bike loan is one of the best ways to finance a two-wheeler, but it is not the only way. In case you want a loan urgently, or can’t get a bike loan, a personal loan is the next best choice. 

Instant personal loans from moneyview are hassle-free and get quickly disbursed. You can get loans from Rs.5,000 to Rs.10 Lakh at interest rates starting from just 1.33%. To know more, check out our website or download the app.

Bike Loan Related FAQs

The good news about moneyview loans is that you don’t have to provide collateral. Your eligibility criteria are determined by your age, income, and credit score and each month the EMI amount will be debited directly from your bank account.

The eligibility criteria for moneyview loans are as follows:

  • Applicants must be between 21 years and 57 years
  • Applicants must receive an income of Rs.13,500 or more if they are salaried
  • Applicants must have an income of Rs.15,000 or more if they are self employed 
  • Income must be credited directly to the applicant's bank account
  • They should have a minimum CIBIL or Experian score of 650

For more details regarding this, please click here.

The application process for a moneyview personal loan is extremely simple. All you have to do is visit the website or download the app and follow the steps given below - 
  • Check your eligibility: Provide all the necessary details, and find out your eligibility in just 2 minutes
  • Choose your loan plan: Based on the options given, you will have to select the loan amount and repayment term of your choice
  • Provide documents: Upload all of the necessary documents online for verification
  • 24 hour loan disbursal: After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours 

Yes, even self-employed applicants can get instant personal loans from moneyview. 

In order to avail of an instant personal loan from moneyview, you will have to be between the ages of 21 to 57 years.

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