Two Wheeler Loan at Shree Krishna Finance Raipur
Shree Krishna Finance offers Two Wheeler Loans in Raipur with several benefits that cater to the needs of borrowers. Here are the advantages of applying for a Two Wheeler Loan from Shree Krishna Finance:
No Collateral Required: Shree Krishna Finance provides unsecured loans, eliminating the need for collateral or guarantors. This simplifies the loan application process.
Digital Documentation: The entire loan application process is paperless, saving you time and effort. You can complete the application online, making it convenient and hassle-free.
Low Credit Score Loans: Shree Krishna Finance considers applicants with a minimum CIBIL score of 600, making Two Wheeler Loans accessible to a wider range of individuals.
Flexible Tenure Options: You have the flexibility to choose a loan tenure ranging from 12 months to 60 months, based on your eligibility and repayment capacity.
Affordable Interest Rates: Shree Krishna Finance offers competitive interest rates, starting from as low as 1.33% per month. This ensures that your loan is more affordable and manageable.
Flexible Loan Amount: Depending on your eligibility, you can borrow a loan amount ranging from Rs. 5,000 to Rs. 5 lakh, allowing you to meet your specific financial requirements.
Quick Eligibility Check: Shree Krishna Finance provides a quick eligibility check on their website, allowing you to determine your eligibility for a Two Wheeler Loan within just 2 minutes.
24-Hour Disbursal: Once the loan agreement is signed, and auto-debit is activated, you can expect to receive your loan amount within 24 hours in most cases, ensuring swift access to funds.
By offering these benefits, Shree Krishna Finance aims to provide a seamless and efficient Two Wheeler Loan experience to the residents of Raipur.
The eligibility criteria for a personal loan from Shree Krishna Finance are designed to be broad and inclusive. Here are the eligibility requirements:
Age: The applicant must be between 21 and 57 years old.
Income: The applicant's income must be credited directly to their bank account. The minimum income requirements are as follows:
- For salaried individuals, the minimum income should be Rs. 13,500 per month.
- For self-employed individuals, the minimum income should be Rs. 15,000 per month.
Credit Score: The applicant's CIBIL score should be above 600 or Experian score should be above 650. A good credit score indicates a higher likelihood of loan approval.
Meeting these eligibility criteria increases the chances of being approved for a personal loan from Shree Krishna Finance. However, it's important to note that meeting the eligibility criteria does not guarantee loan approval, as the final decision is subject to the lender's discretion and evaluation of additional factors.
The documents that you will need for a personal loan from Shree Krishna Finance are -
Identity Proof
Any of the following documents can be your identity proof -
- Photographs
- Signature Verification
- PAN Card - This is the main document we will require. If you are unable to provide this, any of the other options below can be given.
- Aadhaar Card
- Indian Passport
- Voter’s ID Card
- Driver’s License
You need to make sure that the image quality is good so that it is recognizable.
Address Proof
If your identity proof document was your PAN Card, you will need to furnish a separate address proof. Any of the following will suffice -
- Aadhaar Card
- Indian Passport
- Voter ID Card
- Driver’s License
- Electricity/Water/Gas Bills (dated within the past 60 days)
Income Proof (for Salaried Applicants)
As a salaried applicant, you will need to show the last 3 months’ bank statements of your salary account. You can send it in the PDF format, and it should show your salary credits clearly.
Income Proof (for Self-employed Applicants)
If you are a self-employed applicant, you will need to present your last 3 months’ bank statements in PDF format.
Other Documentation
- Business Stability proof / Ownership proof
- Employment Stability Proof
- Income Tax Returns (ITR) for the latest one year.
Fees and Charges for Two Wheeler Loan from Shree Krishna Finance
When you think about applying for a Two Wheeler Loan, the most important thing is the interest rates and the other fees involved. Check out this table to know more-
| Charges & Interest | Amount |
|---|---|
On Application | |
i. Loan Processing and Documentation Charges | Non-premium and Premium Vehicles – 4.75 % of Loan amount + applicable GST. |
ii. Registration Certificate (RC) Collection Fees | 600 + applicable GST |
iii. Stamp duty charges | At Actuals as per State Stamp Duty Act + applicable GST |
iv. Information Utility Charges (Only for Corporate Cases) | ₹ 300 + applicable GST |
During the term of Loan (details about contingent charges) | |
Penal Charges | |
i. Part payment charges | Not Applicable |
ii. Late Payment Charges | 2% per month on overdue EMI |
iii. Cheque/AD/ECS Bounce Charges | ₹ 500 + applicable GST |
iv. Loan Cancellation Charges | ₹ 2000 + applicable GST |
Service Charges | |
i. Duplicate Repayment/Amortization schedule charges | ₹ 150/- + applicable GST (for physical report). Nil for digital report |
ii. Statement of Account charges | ₹ 150/- + applicable GST (for physical report). Nil for digital report |
iii. Prepayment statement charges | ₹ 150/- + applicable GST (for physical report). Nil for digital report |
iv. Duplicate No Objection Certificate / No Due Certificate charges | ₹ 250 + applicable GST |
v. Revalidation of No Objection Certificate charges | ₹ 250 + applicable GST |
vi. No Objection Certificate for conversion from Petrol to LPG/CNG charges | Nil |
vii. No Objection Certificate to convert from private to commercial or from commercial to private charges | Nil |
viii. Repayment mode swap charges | ₹ 500 + applicable GST |
ix. Cash Transaction Charges (for repayment of EMI dues in cash at branches) | ₹ 100 + applicable GST |
Prepayment charges ( on Foreclosure) | 5% + applicable GST on the Principal outstanding |
Loan related recovery charges (if applicable) | |
i. Auction charges for repossessed asset | At actuals |
ii. Cash transaction charge for repayment of EMI dues at Branches | ₹ 100 + GST |
iii. Charges incurred in filing legal suit | At actuals |
iv. Charges incurred in SARFAESI proceedings | At actuals |
v. Charges incurred in sending different notices | At actuals |
vi. Enforcement charges | At actuals |
vii. Non Maintenance of Mode of Payment charges (NMMP) | ₹ 800+ GST |
viii. Paper advertisement charges | At actuals |
ix. Pick-up charges | ₹ 500+ GST (For all retail products) |
x. Professional charges | At actuals |
xi. Repossession charges | At actuals |
xii. Security guard charges | At actuals (For Immovable assets) |
xiii. Yard charges | At actuals |
Fee refundable if loan not sanctioned / disbursed | Non- refundable |
Important points:
- Other Government taxes, Levies, etc., will be applicable as per prevailing rates, in addition to the above mentioned charges
- The charges or fees given in the above table are subject to change and the one recorded in the agreement, will be binding over the site
- Interest Reset clause: Not Applicable
- The charges are applicable for all customers from September 15, 2022
- ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion
For more information, please visit the nearest ICICI Bank branch or call our Customer Care.
Range of Interest rates for Two Wheeler / Super Premium bike Loan
| Quarter ended on March-2023 | Minimum | Maximum | Mean |
|---|---|---|---|
| Two Wheeler Loan | 9.00% | 28.00% | 19.88% |
Note:
- The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 4 – FY: 2022-23.
- It includes fixed rate of interest and is based on factors such as customer relationship, asset segment, tenure of loan etc.
- It excludes subsidy and government schemes.
- Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.
Annual Percentage Rate
The Annual Percentage Rate (APR) is a method to compute the annualised credit cost, which includes the interest rate and the loan origination fee.
To calculate the same, please click here to download the APR calculator.
How to Apply for a Two Wheeler Loan
Applying for a Two Wheeler Loan from Shree Krishna Finance in Raipur is a straightforward process. Here are the steps involved:
Step 1: Check Eligibility:
Visit the Shree Krishna Finance website and provide the necessary details to check your eligibility for the loan. This process usually takes just 2 minutes.
Step 2: Select Loan Tenure:
Once you are eligible, choose the desired loan amount and select a repayment tenure that suits your needs from the options provided.
Step 3: Upload Documents:
Upload the required documents as specified by Shree Krishna Finance.
Step 4: Amount Disbursed:
After your documents are verified and the loan agreement is signed, Shree Krishna Finance will disburse the loan amount into your bank account. In most cases, you can expect the funds to be credited within 24 hours.
Equerry Form
Please Fill out the Form Below
For More Details Contact With Us
For more details and further inquiries, please don’t hesitate to contact us. Our dedicated team at Shree Krishna Finance is here to assist you and provide the necessary information you need.
Frequently Asked Questions.
- The applicant’s age should be between 21 and 57 years.
- Income should be credited directly to their bank account.
- Minimum monthly income requirement is Rs. 13,500 for salaried individuals and Rs. 15,000 for self-employed individuals.
- CIBIL score should be above 600 or Experian score should be above 650.
You can check your eligibility within 2 minutes by visiting the Shree Krishna Finance website and providing the required details.
No, Shree Krishna Finance provides unsecured loans, so no collateral or guarantor is required.
- The loan amount ranges from Rs. 5,000 to Rs. 5 lakh, depending on your eligibility.
- You can choose a loan tenure from 12 months to 60 months, based on your eligibility and repayment capacity.
Once your documents are verified and you have signed the loan agreement, the loan amount is typically disbursed within 24 hours.