What is a zero down payment two-wheeler loan in India?
It is mentioned in the name itself. Usually, when you are buying a home or vehicle, the bank provides you with a loan. In return bank also asks you to put in payment and the rest of the amount is paid by the bank. You need to pay back the rest of the amount along with interest over a period of time to the bank. For example, let’s just say that you want to buy a car worth 10 lakhs then, if you take a loan then the bank will ask you to pay around 10% of the total value which in this case will be 1 lakh along with some processing charges. The bank will pay 9 lakhs to the dealer and you will need to pay back this 9 lakh along with interest over the tenure which is mentioned in the loan document.