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Velev Motors scooters Finance
Velev Motors Two Wheeler Loan EMI
| MODEL | EMI (36 MONTHS) |
|---|---|
| Velev Motors VEV 01 | Rs. 1,012 |
| Velev Motors VIO | Rs. 1,584 |
Velev Motors scooters Finance Schemes
FAQs for Velev Motors Finance
Q) How is Velev Motors scooter loan EMI calculated monthly?
A) Velev Motors scooter 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 Velev Motors two wheeler loan?
A) To get your Velev Motors scooter 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 Velev Motors Bike/Scooter loan?
A) The lenders generally finance 90% of the ex-showroom price of the Velev Motors 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 Velev Motors scooter. Down payment is the difference between the on-road price of the Velev Motors scooter and the amount funded by the lender.
Q) What will be the rate of interest on a Velev Motors scooter finance?
A) The interest rate primarily depends on the principal amount and tenure of the loan amount of the Velev Motors two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.
Velev Motors Scooters Further Research
Popular Velev Motors Two Wheelers
Velev Motors VEV 01Rs 32,500*- Velev Motors VIORs 52,000*