Two-wheeler insurance is a type of insurance that is mandatory in India.
This two wheeler insurance plan protects the owner from the costs incurred in accidental damages to a third party as well as to own vehicle. You can even select add-ons by paying a nominal additional premium, to enhance your coverage under such cover. It also provides you with a personal accident cover of ₹15 lakh for accidental death and disability at a small additional premium.
This type of insurance policy covers you against legal liabilities arising out of an accident. Under this type of two wheeler insurance policy, if your bike causes injuries to a third party or his= surrounding property, then your insurer will take care of these expenses.
Below is the list of documents required for two-wheeler insurance:
- Proof of identity (Passport/Ration Card/Driving Licence/Aadhaar/Voter’s ID, etc.).
- Proof of address (Voter’s ID Card/Passport/Aadhaar, etc.)
- Registration Certificate (RC) of the bike.
- Recent passport size photographs.
FAQ
Bank offers upto 100% on-road funding. It is applicable for both existing customers as well as new customer’s basis customer profile.
At Bank, we haven’t specified a minimum Credit Score for getting a Car Loan. However, a lower Credit Score may lead to the approval of lower loan amounts. Make sure your Credit Score is more than 750, which is generally considered excellent.
Bank offers flexible tenures on their two wheeler Loans product. The minimum and maximum tenure are from 12 months to 60 months.
Yes, you can pre-pay the loan any time after Three months of availing of the loan at a nominal charge. Kindly note: - Cash Payment up to Rs 49,000 will be accepted towards Pre-payment of loan and DD/MC/Cheques also accepted.
No, but in case if you don't meet the Bank's norms then you may be required to have a guarantor surety. A guarantor becomes a co-endorser and assumes liability in event of default to stand surety for your loan.
Loan Processing and disbursement will take atleast 7 working days post submission of all requisite documents and information as may be required by the bank as per Bank’s criteria.
Repayments are enabled through Standing Instructions (SI) for bank account holders and through NACH for external account holders. If the repayment through these instruments is not cleared, there are alternate digital repayment modes viz. Payzapp, Gpay, billdesk, Paytm etc.