Factors that Affect BOI- Bank of India Bike Loan

  • Principal- The principal is the BOI- Bank of India Bike Loan amount that you avail from the lender or bank or NBFC. It is directly proportional to all your EMIs - lower principal of BOI- Bank of India Bike Loan will lower your monthly EMI instalments and vice versa applies.
  • Rate of interest- The rate of interest is the rate at which the lender or bank offers you the BOI- Bank of India Bike Loan. It is also directly proportional to the purchase value of your BOI- Bank of India Bike Loan EMIs.
  • Tenure- The tenure is the time within which you should repay your BOI- Bank of India bike loan. The tenure is inversely proportional to all your loan EMIs - longer tenure makes the monthly instalments low.

Things to consider that affect the BOI- Bank of India Bike Loan:

  1. Income Levels
  2. Stability of Income
  3. Bike type, model, year, engine
  4. Credit History( loan repayment history)
  5. Employment Status for Salaried
  6. Business Longevity for Self-employed 
  7. Relationship with Lender or banker
  8. Category of Your Employer

 

  • Allahabad Bank