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Can you provide me the eligibility criteria required to apply for Two Wheeler Loan in Lakshmi Vilas Bank?

[prince karak]

Founded in 1926 by seven businessmen of Karur, Lakshmi Vilas Bank began with the objective of catering to the people in Karur who were involved in industry, agriculture and trading.

Today, the network of Lakshmi Vilas Bank consists of 421 branches (plus 7 extension counters) all over the country. There are over 820 ATMs as well as deployed POS machines.

Eligibility Criteria

Lakshmi Vilas Bank Two Wheeler Loan Eligibility Criteria:
• One must either be a salaried person (who is a permanent employee of State / Central Government, Public Sector Undertakings / Corporations, Private Sector Companies of repute, Reputed Establishments) or Professional/Self-employed person/Businessmen /Agriculturists.
• One must be earning a minimum net monthly income of at least Rs.5, 000/-. One is also required to provide the bank with all the necessary proof of income.
• One must not be older than 65 years old as on the date of maturity of loan

Features & Benefits of Two Wheeler Loan:
• Quick, simple, hassle-free processing.
• Contact the bank for the interest rate that will be applicable to you.
• The bank offers the opportunity to purchase a two-wheeler with the margin of 15% of the invoice value.
• The minimum loan amount for the loan should be Rs.10,000/- and the maximum should be Rs.1,50,000/-
• The borrowed amount shall not exceed six times of the net monthly income or 75% of the cost of the 2 wheeler.
• The period of repayment for a new two wheeler loan is 60 months.