Three Wheeler Loan

A three wheeler loan enables you to buy a passage or commercial three wheeler of your choice on low-interest rates with monthly EMIs without hurting your budget. EMIs or Equated Monthly Instalments are designed to repay the three wheeler loan at affordable prices. The tenure for EMIs ranges from 1 to 3 years - we also offer the option of pre-closure of the loan by paying the entire amount with some pre-termination charges.

Three Wheeler Loan Eligibility

• Minimum age of the loan applicant should be at least 18 years and the maximum age limit should be 70 years at the time of loan maturity.
• Applicants should be residing in the same house for at least one year to show residential stability.
• Applicants should be in a stable job for at least one year or self-employed.
• Applicant should have a good CIBIL Score with credit bureaus.
• Applicants should have a permanent telephone number and possess KYC and other related documents.

Three Wheeler Loan Interest Rates

Disclaimer : Annualised ROI mentioned is Excluding of HTH,STS & Advance EMI Cases    

Here you can check all the details about three wheeler loan interest rates.

Why Should you Take a Three-Wheeler Loan?

A three-wheeler loan is the best option to own your vehicle without redeeming your savings. It is the best way to manage your finances when you do not have other means. You can get up to 100% of your vehicle’s on-road price as a loan without pledging anything as collateral. With affordable interest rates and longer loan tenure, you can plan your repayments based on your needs.

Furthermore, there is a minimum eligibility requirement to get a three-wheeler loan. You will have to convince your lender that you have a stable income and a good credit score to secure a loan. A higher credit score can also get you a lower interest rate.

Why Should You Choose a Bajaj Auto Credit Three-Wheeler Loan?

Here are some of the top benefits of choosing a Bajaj Auto Credit three-wheeler loan:

• You can get up to 100% of the vehicle’s value as a loan, making it easier to own a three-wheeler if you can not afford to make the initial down payment.
• The three-wheeler loan interest rates start from as low as 11.20%*. You can choose an interest rate based on your needs. However, you must have a higher repayment capacity.
• You can choose to repay your loan amount with interest within 12 to 36 months*.
• There is minimal documentation required. You will have to submit your KYC documents and income proof documents, permit.
• The process of applying for a three-wheeler loan is easy and convenient. You can apply for a loan from the comfort of your home, with just a few clicks on your computer.

Documents Required for Three Wheeler Loan

Here is a list of documents required for a three wheeler loan:

Accepted KYC Documents for an Individual Customers:

1. Passport
2. Driving License
3. Voter’s Identity Card
4. Aadhaar Card
5. Job Card issued by NREGA
6. Letter issued by the National Population Register

Deemed to be Officially Valid Documents (DOVD):

1. Utility Bill*: Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water bill
2. Property or Municipal tax receipt
3. Pension or Family Pension Payment
4. Letter of Allotment of Accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and license agreements with such employers allotting official accommodation.

*Utility bill, in the name of the customer, not more than 60 days old.

Additional Documents required for Salaried & Self-Employed

Additional document:

1. Permit document.

Salaried Persons:

• Employment or offer letter
• Salary slips of last 2 months
• Bank statement of last 6 months/Form 16

Self-Employed:

• ITR(Income Tax Returns) of Last 3 years.
• Last six months bank statements
• Sales tax returns
• TDS Certificate
• Company details

How to Calculate Three Wheeler Loan EMI?

The three wheeler loan EMI calculator is another unique feature we offer. Use the calculator to compare the interest rates and EMIs of different banks before making a final decision on the purchase of the three-wheeler of your choice.

How to Apply Three Wheeler Loan Online?

It takes only 3 minutes to apply online for a Bajaj three-wheeler loan with Bajaj Auto Credit Ltd.

• Fill Basic Details - Go to the online application form, fill your basic details like name, city, vehicle and model, etc.
• Share your Personal Details - Share the personal details required.
• Calculate your Eligibility - Once your details are shared, the eligibility calculator will let you know your eligibility for the loan.
• Get Loan Approval - It may take up to 24-hours to verify documents and get your loan approved.

How to Apply for Three Wheeler Loan Offline?

You can apply for a three wheeler loan offline by calling our representative or visiting our branch office. Our customer care executive will guide you through the process of applying for a three-wheeler loan, and you have to fill up the application form and attach all the relevant documents.

Three Wheeler Loan With Minimum Down Payment

Enjoy the facility of a small down payment for three-wheeler loan which means you get finance of up to 95%* of the value of the vehicle with our three wheeler loan.