New Delhi: L&T Finance, a subsidiary of L&T Finance Holdings, on Thursday launched 'Sabse Khaas Loan' for two-wheeler customers.
The scheme not only provides hassle-free and low-cost finance for two-wheelers but also eliminates the need for hypothecation of the vehicle to the financier over the tenure of the loan, the company said in a statement.
"Currently, two-wheeler financiers transfer the title of the vehicle to the customer only when the entire loan amount is repaid. This leads to additional paperwork and puts the financial burden on the customer," it said.
The loan is for financially prudent customers who believe in spending their money smartly and taking responsible borrowing decisions, it said.
The borrowers can choose from 3 different EMI tenures – 6, 12 and 18 months – with interest rates between 7.99 per cent and 8.99 per cent.