Lakshmi Vilas Bank Bike Loans

Find details of lakshmi vilas bank bike loan through Lakshmi Vilas Bank EMI calculator. Just enter the loan amount of bike you want to get financed and rate of interest. Lakshmi Vilas Bank EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.

Lakshmi Vilas Bank
Lakshmi Vilas Bank

New Bike Loan Rates

Down Payment
Processing FeeRs.250
Interest Rate13.40
Document ChargesRs.250

Loan Eligibility Calculator

Lakshmi Vilas Bank Bike Loan eligibility, Interest Rate, documents and process

  • Eligibility -
  • Salaried persons who are permanent employees of:
    • State/Central Government
    • Public SectorUndertakings/Corporations
    • Private Sector Companies of Repute
    • Reputed Establishments
    • Professionals and Self Employed persons.
    • Businessmen
    • Agriculturists (with minimum land holding of 8 acres of irrigated land)
    • Income Criteria Required for Car loan:
    • An annual income of Rs. 1.20 Lacs for purchase of car/van/jeep
    • A minimum net monthly income should be thrice the monthly installments.
    • Note: Income from other sources like rent from properties, commission, interest, dividend, etc., including the income of the spouse/other family members, may be included provided these are from verifiable sources.
    • Age Eligibility:
    • Minimum: 21 years as on the date of application
    • Maximum: 60 years for all types of borrowers as on the date of maturity of the loan.
    • Quantum of Loan
    • For purchase of Car/Van/Jeep: 25 times Net Monthly Income or 80% of the cost of the vehicle subject to a maximum of Rs.25.00 Lacs for a New Vehicle or Rs.10.00 lacs in the case of used vehicle whichever is lower.
    • For purchase of new two wheelers: 6 times the net monthly income (or) 75% of the cost of vehicle.
    • Margin
    • 20% of invoice value for a new car/van/jeep
    • 40% of the value assessed by an approved automobile engineer for a used car/van/jeep
    • 25% of the cost of the vehicle for two-wheelers
    • Security – Hypothecation of the vehicle purchased.
    • Repayment period (Maximun)
    • New car/van/jeep : 60 months
    • Used car/van/jeep : 36 months
    • New Two-wheelers : 60 months
    • Loan processing fee – 1% of the loan amount, subject to:
    • Minimum: Rs.500/- for four wheelers & Rs.250/- for two wheelers.