SAVERY-SFTL | Loans

Savery Two-Wheeler Loan

The road is waiting, But you don't have to. Easy ride exclusively from Savery Transport Finance Limited. During all times of the day and night, you can see bikes or scooters on the roads of India. They are not just a tool for commute, but people also use them for leisure cruising, racing, long distance travel, and off-road riding. However, not everyone can afford to purchase a bike outright in cash. This is where two-wheeler loan enters as the saviour. Such loans are especially designed to ensure that the customers are able to buy their dream bike or scooter. A two-wheeler loan is loan provided to individuals to purchase their dream two-wheeler in attractive payment options. Lenders can be paid back in Equated Monthly Instalments (EMIs). If you have been wondering how to buy a new or a used two-wheeler in a quick, convenient & affordable way, you can apply with us for a two-wheeler loan. With a flexible approach, we fund you as per your need - low initial payment, higher tenure or low equated monthly installments (EMIs)

We offer a variety of financing options to ensure you get one that suits your requirement. we will ensure you ride your dream bike in no time.

Benefits of Savery Two Wheeler Loan:

• Finance for all bikes & scooters

• Loan Tenure up to 36 Months

• Income proof not mandatory

• Loan for Salaried & Self employed

• On-spot sanction

• Flexible documentation & repayment options

• Loan processing within 24 hours

Eligibility Criteria

Age :

Minimum age of 18 while applying for the loan

Maximum age of 65 years at the time of loan maturity

Salaried Persons:

Salaried Persons earning an annual income of INR 96,000 or above

Self-Employed Persons:

Self-employed Persons earning a Minimum annual profit of INR 1,20,000

Make sure to keep your original documents and photocopies of the two-wheeler loan documentation while verification

We believe in making your dream come true. Hence, we offer the lowest eligibility criteria that one can quickly satisfy. The eligibility criteria are devised so that everyone can own a bike without burden

Documents Required

Photo Identity Proof:

• Aadhaar Card
• PAN Card
• Voters ID
• Passport
• Driving License

Address Proof:

• Latest Electricity Bill
• Latest Phone Bill
• Latest Bank Passbook with the current address
• Property Documents
• Ration Card

Income Proof:

Salaried Persons: Payslips/Form 16, IT, Bank Statement

Self-Employed: Latest ITR, Bank Statement

Photo Proofs:

Recent Passport Size Photographs - 6 Nos

Rate of Interest

Part- I

Lending Rate Range for Vehicle Loan-Fixed Rates(IRR)

Products Interest Type Interest % Annualized Rate%

Minimum Maximum Minimum Maximum

Two-Wheeler – New Fixed 12 15 21 27

Two-Wheeler – Used Fixed 15 18 27 32

Pronote Loan(DPN) Fixed 12 18 21 32

• All the rates mentioned are annualized at monthly rests.

Part- II

Fees and Other Charges

S. No. Charges Head Charges / Ranges

1. Processing/Document Fees Minimum of Rs. 1500/- to Maximum of Rs.2200/-

2. Collection Charges Rs. 250/-

3. Foreclosure/Prepayment Charges 4% on the Principal Outstanding

4. Overdue Charges 24%p.a - 36%p.a (2%-3% of overdue amount Monthly)

5. EMI Due Date Change Charges Rs. 350/-

6. Rescheduling Charges Rs. 250/-

7. Cheque / NACH return Charges Actuals

8. Duplicate NOC Rs. 500/-

9. Statement of Accounts Rs. 250/-

10. Verification Charges Rs. 250/-

11. Repossession Charges Actuals/Minimum Rs. 500/-

12. Rent for Repossessed Vehicle Actuals/Minimum Rs. 30/- per day

13. Postal Charges Actuals

14. RTO Charges Actuals/Maximum of Rs. 2500/-

15. Insurance Premium Actuals

16. Loan Cancellation Charges Rs. 350/-

17. Other Charges As applicable

18. Default Charges Additional As applicable

19. Broken Period Interest Actuals

Loan Structure

1 Loan Amount Rs. 10,000/-(Min) - Rs. 2,00,000/-(Max)

2 Loan Tenure 12 Months (Min) - 36 Months (Max)

Products	Interest Type	Interest %		Annualized Rate%
Products	Interest Type	Minimum	Maximum	Minimum	Maximum
Two-Wheeler – New	Fixed	12	15	21	27
Two-Wheeler – Used	Fixed	15	18	27	32
Pronote Loan(DPN)	Fixed	12	18	21	32

S. No.	Charges Head	Charges / Ranges
1.	Processing/Document Fees	Minimum of Rs. 1500/- to Maximum of Rs.2200/-
2.	Collection Charges	Rs. 250/-
3.	Foreclosure/Prepayment Charges	4% on the Principal Outstanding
4.	Overdue Charges	24%p.a - 36%p.a (2%-3% of overdue amount Monthly)
5.	EMI Due Date Change Charges	Rs. 350/-
6.	Rescheduling Charges	Rs. 250/-
7.	Cheque / NACH return Charges	Actuals
8.	Duplicate NOC	Rs. 500/-
9.	Statement of Accounts	Rs. 250/-
10.	Verification Charges	Rs. 250/-
11.	Repossession Charges	Actuals/Minimum Rs. 500/-
12.	Rent for Repossessed Vehicle	Actuals/Minimum Rs. 30/- per day
13.	Postal Charges	Actuals
14.	RTO Charges	Actuals/Maximum of Rs. 2500/-
15.	Insurance Premium	Actuals
16.	Loan Cancellation Charges	Rs. 350/-
17.	Other Charges	As applicable
18.	Default Charges	Additional As applicable
19.	Broken Period Interest	Actuals

Loan Structure
1	Loan Amount	Rs. 10,000/-(Min) - Rs. 2,00,000/-(Max)
2	Loan Tenure	12 Months (Min) - 36 Months (Max)