Two Wheeler Loans

You can avail a two wheeler loan secured against your two wheeler (the two wheeler is the collateral). You can also avail a two wheeler loan without collateral. Your bank would charge you a higher rate of interest if your two wheeler loan is unsecured.

What are the documents required to avail a Two wheeler loan?

  • You need an identity proof such as a Pan card, passport, voter’s identity or a Driver’s license.
  • You need an address proof such as Passport, Voters card, Driver’s license, Utility bills (electricity or a water bill) or a ration card.
  • You need an income proof such as your last three months salary slip or the Form 16. You might also need to show your bank statements of the last three months.


Why to avail Two Wheeler Loan?

Low interest

Banks offer two wheeler loans at competitive interest rates. Women borrowers get a discount on the interest rates.

Special Schemes

You get two wheeler loans at a lower rate of interest in the festive season.

Easy Documentation

Hassle Free Documentation. The loan is processed within 48 hours. Loan financing up to 85% of on road price of the motor cycle.

Flexible Tenure

Flexible repayment and tenure. No guarantor or collateral required for this loan.


Eligibility criteria to avail Two Wheeler Loan

  • You should be at least 21 years old at the time you apply for the loan, and less than or equal to 65 years at the maturity of the loan.
  • You should have a landline number either at your residence or at office.
  • You need a minimum CIBIL score of 700 for the final sanctioning of your loan.
  • You should be residing in the city for at least a year. You should be working for at least one year.


Key factors to consider for Two Wheeler Loan

Special schemes for Two Wheeler Loan

  • You can avail a two wheeler loan at a lower rate of interest in the festive season.
  • Women get a discount on the interest when they avail a two wheeler loan under some special schemes.

Types of Two Wheeler Loan

  • Financing the cost of a two wheeler is an easy option for the prospective buyers. These loans come with relatively affordable interest rates. Flexible repayment options are available in EMI’s withy tenure ranging from 12 to 48 months.

The borrower considering his need and financial condition can opt for either type of bike loan:

  • Secured Two Wheeler Loans:Secured bike loan means loan against security. The loan applicant has to pledge his property against the loan taken.
  • Unsecured Two Wheeler Loan: Unsecured bike loans are not secured against any valuable asset of the borrower whether tangible or intangible.
  • You should be residing in the city for at least a year. You should be working for at least one year.