- Dena Bank Two Wheeler Loan Eligibility Norms:
As per official website of bank, following are persons eligible under Dena Bank Two Wheeler Loan eligibility criteria, for loan to be extended at Dena Bank Two Wheeler Loan interest rate:
- Salaried borrowers: with salary that is more than Rs.75, 000 (gross)
- Non-salaried borrowers, with a gross income of more than Rs.75, 000
- Quantum Of Dena Bank Two Wheeler Loan:
Permissible amount of loan that may be extended at Dena Bank Two Wheeler Loan rate is:
- Maximum of Rs.50, 000, for the purchase of a two-wheeler
- Margin of 20% is also considered, before loan is disbursed at Dena Bank Two Wheeler Loan rate
- Actual amount of loan disbursed depends on the repayment capacity of borrower as per Dena Bank Two Wheeler Loan eligibility norms
- Procedure To Be Followed While Applying For Dena Bank Two Wheeler Loan:
- Applicants may be able to avail of loan, by following simple steps of submitting relevant documents at their nearest bank branch
- Age proof
- Residential proof
- Income / salary proof
- Signature proof
- Duly filled-in application for, that may be do0wnloaded from official website
- Two passport-sized photographs
- Security is required in the form of hypothecation charge on vehicle
- Processing charge is also required to be submitted at Rs.500, and it is over and above interest at Dena Bank Two Wheeler Loan interest rate
- Above charge remains uniform across all categories of borrowers of Dena Bank Two Wheeler Loan eligibility norms
- Tenure Of Dena Bank Two Wheeler Loan:
Official website states that loan has repayment tenure of 5 years and Dena Bank Two Wheeler Loan rate does not fluctuate during this period.
- Repayment Of Dena Bank Two Wheeler Loan:
Borrower should repay entire amount of loan in a maximum of 60 equated monthly installments, which would be inclusive of interest at Dena Bank Two Wheeler Loan interest rate.
- Pre-Payment Of Dena Bank Two Wheeler Loan:
Customer may choose to repay loan amount before end of tenure and bank will not charge any prepayment charges. Further, no other charges are levied, over and above interest at Dena Bank Two Wheeler Loan interest rate.
