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Two-wheeler Loan

Easy process | Quick approval | No hidden charges
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What is a Two-wheeler Loan
 
 
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Key features of Two-wheeler Loan
 
 
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Trusted by 3 lakh+ customers

Two-wheeler Loan
Easy process | Quick approval | No hidden charges

Key Features

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Up to 100% financing

Existing and new customers can get up to 100% financing of the on-road price of your desired bike. *Terms & conditions apply

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Instant approval

Get instant approval on your two-wheeler loan and bring home your dream bike without any delay.

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No income proof required

Avail of a Bajaj Finserv Two-wheeler Loan without any income proof.

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Flexible tenure options

Repay your two-wheeler loan easily over a period of up to 72 months.

Key Features

Watch Video ‌
/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/two-wheeler/feature-icon/TW_Up_to_100_financing.png
Up to 100% financing

Existing and new customers can get up to 100% financing of the on-road price of your desired bike. *Terms & conditions apply

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/two-wheeler/feature-icon/TW_instant_approval.png
Instant approval

Get instant approval on your two-wheeler loan and bring home your dream bike without any delay.

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/two-wheeler/feature-icon/TW_no_income_proof.png
No income proof required

Avail of a Bajaj Finserv Two-wheeler Loan without any income proof.

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Flexible tenure options

Repay your two-wheeler loan easily over a period of up to 72 months.

Features and benefits

  • Up to 100% funding of the on-road price

    We provide up to 100% funding* of the on-road price of your dream vehicle.

  • Get up to 6 years to repay your loan

    Choose a flexible repayment tenure ranging from 6 months to 84 months.

  • Minimum credit score

    You need a minimum credit score of 700 to qualify for a two-wheeler loan.

  • No guarantors are required

    We do not ask for a guarantor if you meet the eligibility requirements.

*Terms and conditions apply

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Eligibility and documents

A few simple criteria must be met to qualify for our two-wheeler loan. You will also need a few documents to complete your application. Here is the list of two-wheeler loan eligibility criteria and documents.

Eligibility criteria

  • Nationality: Indian
  • Age: 18 years to
  • 70 years for all employment types at the time of two-wheeler loan application.
  • Customer profile: Salaried individuals, self-employed, individuals, pensioners, students, homemakers, and farmers
  • CIBIL Score: 700 or above*

Documents required

  • 3 months bank statements. For salaried customers, banking should reflect salary credits.
  • Latest month salary slips for salaried professionals and ITR as per norms mentioned in policy.
  • Residence and employment stability proof / business proof.

*Terms and conditions apply

How to apply

A step-by-step guide to applying for a two-wheeler loan

Just follow these simple steps to apply for a two-wheeler loan from Bajaj Finance:

  1. Click on 'Apply Now' to start the two-wheeler loan application process.
  2. Enter your full name, PAN Card number, and a few other basic details to complete the application form.
  3. Select the details of the two-wheeler that you wish to purchase and choose the dealer showroom closest to your location.
  4. Submit the application successfully.

If you are eligible for a two-wheeler loan, you may receive an eligibility letter or a Bajaj Finance representative will reach out to you to guide you on the next steps.

To get your vehicle, just visit the chosen partner dealer showroom and submit the necessary documents to complete the delivery details of the bike and get the loan details.

Applicable fees and charges

Bajaj Finance offers two-wheeler loan interest rates (scooter/bike loan interest rates) of up to 31% per annum. Check the table below to understand the different types of fees and the applicable charges when you go for a two-wheeler loan.

Type of fee Applicable charges
Rate of interest Up to 31% per annum
Processing fee Up to 5% of the loan amount (inclusive of applicable taxes)
Documentation and hypothecation charges Up to Rs. 5,200 (inclusive of applicable taxes) collected upfront
Stamp duty (as per respective state) Payable as per state laws and deducted upfront from loan amount
Prepayment charges Full prepayment
Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment

Part-prepayment
Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment
*Full/part-prepayment will be processed post clearance of the first EMI
Bounce charge Rs. 531/- per bounce.
“Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.
Penal charge Delay in payment of instalment(s) shall attract penal charge at the rate of 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Legal, repossession and incidental charges

Rs. 5,000 (inclusive of applicable taxes)

Fees charged to customer for legal processes and repossession cost incurred by the company
Stockyard charges Rs. 118 (inclusive of applicable taxes) per day up to 60 days

Fees for delay in RC hypothecation

Rs. 1500/- (inclusive of applicable charges)

 

*This is a one-time charge levied if there is delay in receiving the RC beyond 120 days post disbursement

DCC Charge

Up to Rs. 1,500 (inclusive of applicable taxes)

Charges collected from customer for providing the option of collecting EMI in cash
Cancellation charge Rs. 2,360 (inclusive of applicable taxes)

Note: In the event of loan cancellation, customer shall also bear the interest accrued on the loan till the date of cancellation and stamp duty charges levied on loan at the time of loan origination.

Frequently asked questions

What is a two-wheeler loan?

A two-wheeler loan helps you buy a scooter or a motorcycle by offering a credit of up to Rs. 21 lakh and allows you to repay the credit in convenient EMIs.

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What is the minimum credit score required to get a two-wheeler loan?

You need a minimum credit score to be eligible for a two-wheeler loan from Bajaj Finance.

What are the minimum and maximum tenures of a two-wheeler loan?

Bajaj Finance offers flexible tenures ranging from 6 months to 84 months.

What is the two wheeler application process?

You can apply for a two wheeler loan in just a few easy steps:

  • Click on ‘Apply Now’ on this page to book your two-wheeler on EMI on Bajaj Mall. You can also reach out to the Bajaj Finance representative at the store.

  • After a simple eligibility check, get quick approval.

  • Pick the amount and repayment tenure according to your choice.

  • Purchase your new bike or scooter.

What is the rate of interest on a two-wheeler loan?

The two wheeler interest rate is up to 31% per annum, depending on the applicant’s profile and the tenure chosen by the applicant.

What is the maximum repayment tenure of a two-wheeler loan?

The maximum tenure offered by Bajaj Finance on a two-wheeler loan is 84 months (6 years). You can use a two-wheeler loan EMI calculator to estimate EMIs for varying repayment tenures.

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Features and benefits of a Two-wheeler Loan

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.