Ok, so now i was sorted which bike to purchase, if you have missed the previous post, you can check it out here: Finding new bike in Pune

Next stop in my quest to purchase a bike was finance, thou dad said we shall pay in cash, still I convinced dad about considering bike finance in Pune  or minimal check loans as many banks and financial corporation are providing convenient payment options, minimal documentation and long durations tenures which helps in paying as per individuals budget and prevents from sinking the pocket empty in one go.

Let me list a few major two wheeler loan providers in Pune  from the research I did while looking for the best one, a few in random list:

1) Bajaj Finance

2) ICICI Bank

3) HDFC bank

4) Tata Capital

5) Bank of India

6) State Bank of India

7) Kotak Mahindra Bank

If you are looking to compare them do consider the following parameters:

1) Interest rate (the lower the better)

2) Processing fees (has to be minimal)

3) Maximum repayment period (the higher the better)

Some of the basic documentation required as income proof in most bike loans procedures:

1) If you are salaried then

• Should be 21 years or above
• 3 months salary slip
• Minimum gross income of 1.5 lacs per year
• ITR or FORM 16 if applicable
• Resident proof

2) If you are self employed then

• Should be 21 years or above
• Bank statement of 6 months minimum
• Minimum gross income of 1.5 lacs per year after tax deduction
• 2 years ITR with tax deductions if applicable

So, if you are sorted with your documentation, then you can avail the services of finance, however in this age where we compare every little thing before we purchase and as I have listed above some pointer for comparison. One major aspect is bike loan interest rate in Pune, let’s compare with an example for a better idea:

Loan Provider	Rate of Interest	Tenure	Processing Fees
ABC Bank	10%	2 years	2% on total amount
ABC Finance	12%	3 years	1050.00
ABC Corporation	20%	2.5 years	1.5% on total amount
ABC FinCorp	15%	3 years	500.00

So which one is better? Considering the least amount of interest, processing fees and the maximum tenure period as a first option, in my example ABC FinCorp was providing a good interest rate with more tenure, so I would consider that as my first option as bike loan in Pune.

Summing all up, finding a decent bike finance in Pune is easy, considering you have proper documents in place, as approaching to any finance provider they require some guarantee that your pay back is considerable.