Apply for Two Wheeler Loan

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Take a look at the top banks offering Two Wheeler Loan at competitive interest rates

Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
Interest Rates: 11-22% Processing Fee: 2% Deals:Rs. 1000 Amazon Voucher Free
There is a loan for your every need! Know the right one with a single click.
Two Wheeler Loan

The convenience of riding a bike on cramped roads or in heavy traffic as compared to cars and the easy availability of bike loans make Two wheeler loan a popular choice among the rural and urban population in India. Whether you want to purchase a scooter, sports bike, bullet or motorcycle, getting a bike loan is a wiser choice instead of paying in lumpsum to use your savings elsewhere.

Key Features

Below are the features and benefits of Two Wheeler Loan

  • 2 wheeler loans come with flexible repayment tenure ranging from 1-5 years
  • Most of the lending institutions provide loan upto 90% or 100% of the price of two wheelers
  • As compared to other loans, Bike finance is approved and disbursed quickly by most financial institutions
  • Bike loan can be repaid in easy EMIs through post-dated cheques, ECS or standing instructions
  • There is usually zero or nominal pre-closure / pre-payment charges on two wheeler loan
  • Two wheeler loans are available at competitive interest rates ranging between 11% to 18.25%
  • Bike loan is offered even to the lower income groups with salary of less than Rs.50,000 p.a.
  • 2 wheeler loan is a good way to improve your credit score as the loan can be repaid easily
Bike Loan Process

Below is the usual loan process while applying for a Two Wheeler Loan

  • Bike loan can be applied by both online and offline modes
  • Online mode is quick and easy as it allows you to compare and choose the best plan
  • Check your eligibility, loan tenure, loan amount and analyze the instalments to be paid with EMI calculator
  • Submit the necessary documents along with your application for bike finance
  • On successful verification of documents, your loan amount will be approved and disbursed, sometimes on the same day itself
Eligibility Criteria

You can avail a bike loan if you fulfill these criteria. However, these criteria vary from bank to bank and also depend on your banking history & credibility score

  • Age: 21 to 65 years
  • Applicant must be a salaried, professional or self-employed
  • Min. Income: The minimum income for bike loan varies from bank to bank but can be as low as 10,000 per month
  • Have an employment or profession stability for atleast one continuous year
  • You should be residing at your current place for at least 1 year
Interest Rates

Two wheeler loan interest rate depends on various factors like borrower’s profile, loan amount and so. Two wheeler loan interest rate of different banks varies accordingly. Generally, the bank rates vary from 11% to 18% tentatively, with avg. rate being around 12%. Apart from interest rates, an applicant has to incur other charges too like loan processing charges, prepayment charges, documentation charges etc.

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