L&T Finance launches two-wheeler loan with unique features; Check out details

By: |
Updated: June 3, 2019 6:09:36 PM

The main attraction of this low-cost finance for two-wheelers is it eliminates the need for hypothecation of the vehicle to the financier over the tenure of the loan.

car loan, auto loan, sbi auto loan interest rate, sbi home loan interest rate, how to calculate auto loan emi, how to calculate home loan emi,Borrowers will not only receive hassle-free and quick disbursements of the loan but also get lower interest rates and save on fees.

L&T Finance, a subsidiary of L&T Finance Holdings, has come up with a two-wheeler loan for its customers. The two-wheeler loan, ‘Sabse Khaas Loan’, is a hassle-free loan with no hypothecation. This loan also comes with low-interest rates as compared to other offerings in the market, the company claims.

The main attraction of this low-cost finance for two-wheelers is it eliminates the need for hypothecation of the vehicle to the financier over the tenure of the loan. The borrowers, for instance, can choose from 3 different EMI tenures such as 6 months, 12 and 18 months. The interest rate ranges between 7.99 per cent and 8.99 per cent.

Currently, only when the entire loan amount is repaid, two-wheeler financiers transfer the title of the vehicle to the customer, which leads to additional paperwork and puts a financial burden on the customer. The loan by L&T Finance removes such charge on the vehicle, hence, saving time, effort and money of the borrower.

Sunil Prabhune, Chief Executive-Rural Finance & Group Head-Digital, IT and Analytics, at the launch of the loan, said: “Sabse Khaas Loan is our way to appreciate and reward borrowers who are financially responsible and spend their money wisely. Borrowers will not only receive hassle-free and quick disbursements of the loan but also get lower interest rates and save on fees.”

For LTFH’s two-wheeler finance business, algorithm-based credit decisions, paperless onboarding and fast turnaround time have been key differentiators. According to company data, L&T Finance Holdings, over the past two years, has helped in bridging the gap between the physical and digital experiences, approving nearly 95 per cent of the loans in less than 2 minutes, with minimal human intervention and documentation.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition
FinancialExpress_1x1_Imp_Desktop