September 21, 2023

Revealed on : March 01, 2023

A  two-wheeler is ideal in case you are searching for a handy, reasonably priced and dependable commuting possibility. Relying in your selection and funds, you’ll be able to go for a brand new or a used two-wheeler. 

Two-wheelers are the commute for the youthful technology and LoanTap has ensured that the method of buy is made handy by creating tailor-made private loans. A two-wheeler mortgage from LoanTap might help you comfortably get the two-wheeler of your selection.

What are two-wheeler loans? Who’s eligible for two-wheeler loans?

Two-wheeler loans are private loans that can be utilized to buy new or used two-wheelers. LoanTap has very affordable eligibility necessities. If you’re an Indian citizen or resident over the age of 21 years and earn a web month-to-month earnings of over INR 10,000, you’re eligible for a two-wheeler mortgage.

Course of  for making use of for a two-wheeler mortgage

LoanTap has created a particularly user-friendly course of to get two-wheeler loans. It’s a fast, environment friendly and seamless methodology that’s absolutely digital. LoanTap gives loans as much as INR 2,00,000 for brand new bikes and INR 1,00,000 for used bikes for tenures starting from 12-36 months.

Step 1-The primary motion you want to take is to obtain the LoanTap app in your cell and fill out a web based software with the requisite particulars.

Step 2- The following step could be to add the required paperwork for proof of identification and handle. This contains –

  • PAN Card
  • Aadhaar Card
  • Wage Slip for the final month
  • Financial institution Assertion for the final three months

Step 3– As soon as that is accomplished, the system will verify your software and the supporting paperwork. If every part is present in order, the mortgage software will probably be accredited.

Step 4– The mortgage sanction letter will probably be issued which might be submitted at your nearest showroom to choose up the brand new/used bike of your selection.

The complete course of from software to funds is often accomplished inside 24-36 hours. You’ll be able to repay the mortgage in EMIs over the mortgage tenure. You’ll be able to foreclose the mortgage after six months with none prepayment penalty.

Advantages of making use of for two-wheeler mortgage on-line

There are a number of advantages of making use of for a two-wheeler mortgage on-line. Allow us to take a look at a few of the benefits listed below-

  • On the spot Mortgage Sanction  – If you apply for a two-wheeler mortgage on-line, you get a mortgage sanction letter inside 24-36 hours which you need to use on the nearest showroom to get the two-wheeler of your selection.
  • 24/7 availability – Since LoanTap offers digital loans, you’ll be able to apply for them anytime no matter working hours, weekends or public holidays. It is a big benefit over conventional loans and it offers you enough flexibility to plan your buy.
  • No bodily paperwork – No paperwork is required as your complete course of is digital. Other than the web software, nothing else is required which is kind of handy for debtors.
  • Nice buyer expertise –  The utterly seamless course of offers clients with an incredible expertise as they don’t want to maneuver from their seats. It saves them a number of journeys to the lender and lengthy queues that often accompany conventional loans.
  • Minimal documentation- LoanTap doesn’t demand too many paperwork from you. A few necessary paperwork will suffice. (Record talked about above)
  • Cheaper than bank cards – Two-wheeler loans from LoanTap are cheaper than bank cards. Bank cards cost 2.5-3% per thirty days whereas private loans cost half the speed. It’s prudent to plan your big-ticket bills and use a private mortgage to finance the identical.


Two-wheelers are a highly regarded mode of commuting, particularly amongst kids. In the event you face any monetary downside then think about a two-wheeler mortgage. LoanTap gives tailor-made private loans that can assist you give wings to your aspirations. The loans are supplied at very affordable phrases and might be comfortably repaid over the mortgage tenure. So, don’t be frightened in case you are falling wanting funds to purchase your first bike. LoanTap has you coated by providing you private loans as much as 80% of the on-road worth which you can repay over 36 months. Hurry! Obtain the LoanTap app as we speak! Drive away together with your favourite bike!