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Eko Tejas bikes Finance
FAQs for Eko Tejas Finance
Q) How is Eko Tejas bike loan EMI calculated monthly?
A) Eko Tejas bike loan EMIs include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI can be calculated using the following formula: {P x R x (1+R)^N / [(1+R)^N-1]} where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
Q) Which documents I need to have to apply for a Eko Tejas two wheeler loan?
A) To get your Eko Tejas bike loan application with the selected lender, you would be required to submit your KYC documents, which include your identity proof and current address proof, a copy of your PAN Card, your bank statement and your income proofs (Form 16/Salary Slips/ITR). You can get the exact requirement from your loan consultant after applying with us.
Q) What will be the minimum down payment for a Eko Tejas Bike/Scooter loan?
A) The lenders generally finance 90% of the ex-showroom price of the Eko Tejas two wheeler. Some customers might be eligible for 100% funding too. This means the minimum possible down payment that you have to pay includes the RTO and insurance charges for the Eko Tejas bike. Down payment is the difference between the on-road price of the Eko Tejas bike and the amount funded by the lender.
Q) What will be the rate of interest on a Eko Tejas bike finance?
A) The interest rate primarily depends on the principal amount and tenure of the loan amount of the Eko Tejas two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.
Eko Tejas Bikes Further Research
