How To Apply for A Two Wheeler Loan From PLANET App?

Jan 4, 2024

4 min. Read


Authored By: L&T Finance

How To Apply for A Two Wheeler Loan From PLANET App?PLANET

Owning a two-wheeler is a dream of many Indians. A two-wheeler gives you a sense of freedom, unrestricted by the fixed routes of most public transport. It's a cheaper and more economical mode of transportation compared to a four-wheeler, but it still comes with a significant financial burden for people. A two-wheeler is a big investment; hence, opting for a 2 wheeler loan is a great way to help reduce that financial burden. L&T Finance is one of the prominent lenders in this category.

L&T Finance provides a two-wheeler loan loan in an intuitive, autonomous step-wise journey. The PLANET App serves as a game-changer in the world of two-wheeler financing. A user-friendly interface, along with an intuitive design, make it exceptionally easy for individuals to apply for a two-wheeler loan. One of the significant advantages of using the PLANET App is the speed of loan processing. Gone are the days of lengthy paperwork and waiting for loan approval. With just a few taps on your smartphone or clicks on your computer, you can initiate the loan application process, and within a short period, your loan can be approved, and you can be on your way to owning the two-wheeler of your dreams.

The PLANET App doesn't just facilitate the application process; it also offers valuable tools and resources to help you make informed decisions. One such tool is the EMI calculator, which allows you to calculate your Equated Monthly Instalments (EMIs) based on your loan amount and tenure. This feature empowers you to tailor your loan scheme to your financial preferences and constraints. Moreover, L&T Finance's commitment to making two-wheeler ownership accessible extends beyond conventional gasoline-powered bikes. With the rising popularity of electric vehicles, L&T Finance also provides loans for electric two-wheelers.

L&T Finance offers a two-wheeler loan that has allowed many people to own their first bike. The two-wheeler finance comes with up to 100% funding on the on-road price. Moreover, the EMI option lets you personalize your scheme and check your bike loan interest rate in advance. Here are some of the main features of the loan.

Easy Processing

L&T Finance has a simple and hassle-free bike loan application and approval process. You can digitally apply for the 2 wheeler loan from L&T Finance’s website or their PLANET App. The paperwork is minimal, too.

High Loan Amount

When borrowed from L&T Finance, the 2 wheeler loan amount can range from Rs. 50,000 to Rs. 20 lakhs, making it a perfect option for any two-wheeler. So you can even purchase expensive bikes. Further, L&T Finance also provides loans for electric two-wheelers, considering the increasing popularity of electric vehicles.

Long Loan Tenure

L&T Finance provides a range of 2 wheeler finance tenures, that is, starting from 3 months up to 4 years. That way, you can repay your two wheeler loan in a comfortable time period. Moreover, the loan tenure can be extended up to 5 years, giving you an additional benefit.

Attractive Interest Rate

One of the critical features of a two wheeler loan from L&T Finance is attractive interest rates. You can utilise in-built tools like the EMI calculator to determine the interest rate for your loan amount and tenure.

Quickest Turnaround Time

One of the achievements of L&T Finance is the quickest turnaround time in the industry. Apart from the entirely digital process, a pan-India network of branches makes this possible.

To be eligible for the loan, you need to be between the age of 18 and 65. Income proof is not required and is open to salaried and self-employed individuals. Before you apply for the loan, here's a list of documents that are needed:

• PAN Card

• Aadhar Card

• Current Address Proof

• Bank Statement (optional)

Once you have the documents ready, you can apply for the loan. The loan application process can be initiated digitally. The PLANET App allows you to apply for a loan, making the process easier, more efficient and faster. Taking advantage of the technology, L&T Finance has the quickest approval turnaround time in the industry.

Here's a step-by-step guide on the loan application process using the PLANET App:

1. Open the PLANET Application.

2. Login with your registered mobile number.

3. Under the 'Apply Now' section, click 'Two-Wheeler Loan'.

4. You will now be redirected to the L&T Finance official website.

5. You can use the EMI Calculator to personalise your payment scheme per your specifications.

6. Click Apply Now

7. A customer care representative will help you fill out the form.

8. KYC Approval

9. Loan Approval

Two-wheeler financing has emerged as a highly sought-after loan offering, and the hassle-free experience offered by L&T Finance can help you realise your dream of owning your desired bike without undue financial strain. Apply today and embark on your journey toward two-wheeler ownership with the PLANET App by L&T Finance!

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