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  • 6 reasons to purchase a two-wheeler with a personal loan

6 reasons to purchase a two-wheeler with a personal loan

In the current scenario, having a vehicle is more of a necessity than a luxury. Commuting through public transport or paying surge fees for each time you book a cab can turn out to be a hassle. Two-wheelers are really convenient as they help save a lot of time that would otherwise have been spent in traffic. Also, they are more economical to run, insure and easy to get financing. Two-wheeler loans are a great option as they come with convenience and a possibility of faster finance.  

The ease for maintenance has led to a rise in demand for two-wheelers. With this, bike loan has become a favoured means for people wishing to buy a two-wheeler of their choice. Many two-wheeler loan companies have introduced the possibility of faster finance with the help of the online application. 

Here are a few reasons why you should consider purchasing a two-wheeler with a personal loan:

Flexible repayment method

A two-wheeler wheeler loan comes with flexible repayment options, which makes it hassle-free to repay them. One can choose from a 6 to 48 month repayment period, which makes it easier to repay the amount in smaller instalments. 

 




Instant approvals

With digitisation taking centre stage in operational processes, various NFBCs provide an option to apply for two-wheeler loan online. The process involves minimal documentation, and once the loan gets approved, the amount is quickly disbursed into the beneficiary’s account in minutes. One of the leading NFBC, Clix Capital, offers instant approval with guaranteed ease in acquiring finance to pay for the two-wheeler. 

Reduced burden on the budget

Even if one can afford a two-wheeler, it is comfortable to avail a bike loan and pay small instalments instead of paying the full amount at once. It helps with personal cash flow, and one can effortlessly accumulate savings while paying for the loan instalments. Furthermore, it is efficient to pay instalments over a duration rather than paying an amount at once from the salary or savings. 

 

Comes with extra benefits

A loan can also help in covering the additional costs along with a 2 wheeler loan such as insurance cover, accessories or alternate seating options for the bike. Hence, one can easily hit the road without worrying about taxes, insurance and registrations.

 

Helps with CIBIL score

The loans involving a considerable amount of money like a home loan or a car loan requires a good CIBIL or Credit Scores. The cost of buying a two-wheeler is relatively less, which makes it the most comfortable of all loans to be paid off. Hence, it is an excellent opportunity for young professionals to start with their CIBIL scores. 

Owning a two-wheeler is no longer a dream, thanks to two-wheeler finance. Clix Capital is one of the leading digital NBFC that provides personal loans with a hassle-free process, flexible repayment options and minimal documentation.


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