Post offices to now offer loans for two and three wheelers
Posted on: 18/May/2016 11:51:32 AM
People who are looking for a loan to buy a new two wheeler or three wheeler can now approach their local post office. Bajaj Auto Finance Limited has tied up with the Department of Posts to assist in financial enquiries about loans. Post offices will now offer services to provide details about the finance option available through brochures.
Speaking about this, postal department officials have said that the post offices will act as an intermediary. They will also provide information on various loan schemes and offers for two wheelers and three wheelers.
Chennai had nearly 100 of the 400 post offices across the the State which have been selected for the new initiative. Depending on the performance in these select post offices, the service will be extended to other e-payment-enabled post offices. Those who apply through this initiative will also get discounts in processing fees. They will also receive a waiver in the rate of interest of the loan they have obtained.
The Kerala postal circle has already started accepting monthly instalments. Tamil Nadu State postal officials have said that such measures would be adopted based on the patronage of the service.
