Corporation Bank Two Wheeler Loan Interest Rate at 12.40% to 12.50%

Note: Updated on 28 Feb 2024, for latest interest rates, please visit bank website.

About Corporation Bank

Corporation Bank is a public sector bank in india with total assets 3616 crore. It has headquarter in Mangalore. Corporation Bank was founded on Mar. 12, 1906. It has 2298 branches and total assets 36162933 ATMs across India.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Corporation Bank which includes Corporation Bank Official Website, Corporation Bank ATMs accross the India, Corporation Bank Branches accross the India, Corporation Bank Contact Numbers, Corporation Bank official EmailID, Corporation Bank Headquarter and Corporation Bank Headquarter Address. Find Corporation Bank two wheeler loan purpos, Eligibility, Margin, Repayment of Two-Wheeler Loan ,Security, Documents Required for Two Wheeler Loan from below.

Other Products of Corporation Bank:

Corporation Bank Two Wheeler Loan Purpose

For purchase of new/ used Two-Wheelers i.e. Scooters, Motor Cycles, Moped(s), Scooterrete(s), Scooties, Battery-Operated Scooters, etc. of any make and model. Generally, middle class of society like salaried class, small businessmen, farmers, self-employed, etc. who want to purchase new | used two wheeler are the borrowers of such loans.

Corporation Bank Two Wheeler Loan Eligibility

• Employees of Government | Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or Reputed Establishments, Professionals or self-employed individuals/ Businessmen, etc.
• Minimum age of applicant: 18 years.
• Students with father or mother or spouse as co-borrower.
• Maximum age of applicant at loan maturity: Retirement age for salaried individuals & 65 years for others.
• The borrower should have a valid driving license.
• Minimum Net Annual Income criteria as per bank rules

Corporation Bank Two Wheeler Loan Document Required

• Duly filled up and signed two-wheeler loan application form along with photographs
• KYC (Know Your Customer)documents
• Proof of identity- Passport, Voter ID card, Driving license, PAN card, Aadhar Card, Government department ID card
• Income Proof-Latest salary slip showing all deductions or Form 16 along with recent salary certificate (for salaried individuals)
• Income Proof- Income Tax Returns of 2 previous financial years (for other than salaried individuals)
• Bank Statement or Bank Pass Book of having entries of last 6 months
• Proof of Address - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement
• Age Proof- Mark sheets | pass certificates of S.S.C., H.S.C, Degree courses (Optional)
• Signature Verification (Optional)

Corporation Bank Two Wheeler Loan Eligibility

Up to 80% of on road price (includes invoice price, Life tax, Registration charges, Insurance and accessories)
Maximum loan amount: Rs. 10 lakh

Margin

5% to 30% of On-road price which includes invoice value, cost of one time road tax, first time comprehensive insurance premium for one year. It varies from bank to bank and also depends on whether the tow-wheeler purchased is new or old one.

Corporation Bank Two Wheeler Loan Repayment

Maximum 60 EMIs are allowed for New Car Loan and repayment through maximum of 36 EMIs is allowed in case of Used Two-Wheeler Loan. Repayment period for used car also depends upon how old the car is.

Security

• Primary : Hypothecation of two-wheeler to be purchased.
• Collateral : Third party guarantee of one person of sound net means and income (optional- depends upon bank).

Important to Know

• Income of spouse can be taken into consideration for determining the income criteria.
• Processing fee of around 0.50% of the loan amount is charged by some of the banks.
• Some banks offer lower interest rate with discount on processing fee exclusively for their account holders.
• Some banks provide loans up to 100% for their account holders for some specific models.
• Compare interest rates across all the banks and select the lowest one.

Benefits of Availing a Two-Wheeler Loan

• The process of applying for Two-Wheeler Loan is very easy and even lots of lenders offer you a facility to apply for it online also with minimal documentation.
• You get quick approval of loan. Majority of lenders approve the loan on the spot and take very minimal time for loan disbursal.
• Availing a Two-Wheeler Loan reduces burden on your budget because it is comparatively convenient to repay the loan in installments against pay whole amount in lump sum to buy a Two-Wheeler.
• You can get Two-Wheeler Loan at very competitive rates due to availability of large number of lenders providing Two-Wheeler Loan in the market.
• Many lenders offer loan at discounted rate to women applicants. So if you are woman and want to avail loan, it is beneficial for you.
• You will get flexible repayment option, ranging from 12 to 60 months.
• You may receive some extra benefits such as an insurance cover or accidental cover along with your two-wheeler loan.

Contact details of Corporation Bank, Corporation Bank SMS balance check number, Corporation Bank SMS banking, Corporation Bank mobile banking, Corporation Bank toll free number,Corporation Bank toll free number 24*7, Corporation Bank miss call number.

• MISSED CALL NUMBERS - 9223008586
• CUSTOMER CARE NUMBERS - 1800222244, 18002082244, 080-61817110
• CONTACT NUMBERS - 1800222244, 18002082244, 080-61817110

Corporation Bank Contact Details

• BANK OFFICIAL WEBSITE - https://www.unionbankofindia.co.in
• CONTACT NUMBERS - 1800222244, 18002082244, 080-61817110
• EMAIL ID - [email protected], [email protected]
• MISSED CALL NO. - 9223008586
• CUSTOMER CARE NO. - 1800222244, 18002082244, 080-61817110
• TOTAL BRANCHES - 2298
• TOTAL ATMS - 2933
• HEADQUARTER - Mangalore
• BANK ADDRESS - Corporate Office, Mangladevi Temple Rd.,Post Box No. 88, Mangalore-575 001

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