Two-wheeler on EMIs
A two-wheeler loan is a financing option that lets you buy a scooter or a motorcycle and repay the borrowed amount in EMIs. Bajaj Finance provides a two-wheeler loan of up to Rs. 21 lakh.
Benefits of buying a two-wheeler on EMI
Purchasing a two-wheeler through an EMI plan can offer several advantages that make owning a bike or a scooter more accessible. Here are some key benefits to consider:
- Affordable payments: EMIs break down the total cost into smaller, manageable monthly payments, making it easier to fit into your budget.
- No large upfront cost: Instead of paying the full amount upfront, you can own your two-wheeler with a minimal down payment. Depending on your eligibility, you may get financing of up to 100% of the on-road price.
- Flexibility in tenure: Get flexible loan tenure options, allowing you to choose a repayment period that suits your financial situation.
- Access to better two-wheeler models: EMI options enable you to consider higher-end models that may have been out of reach if paying in full.
- Building credit history: Timely EMI payments can improve your credit score that benefits you when you seek credit in the future.
Explore a wide range of two-wheeler and bring home your dream vehicle on EMIs.
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Frequently asked questions
Overview
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Fees and charges
Repayment
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What is a two-wheeler loan?
A two-wheeler loan is a financing option that lets you buy a scooter or a motorcycle and repay the borrowed amount in EMIs. Bajaj Finance provides a two-wheeler loan of up to Rs. 21 lakh.
What is the minimum credit score required to get a two-wheeler loan?
You need a credit score of
600 to be eligible for a two-wheeler loan.
What is the minimum and maximum age at the time of loan application?
The minimum age is 18 years and the maximum age is
70 years.
What is the rate of interest charged by Bajaj Finance on a two-wheeler loan?
The rate of interest charged by Bajaj Finance ranges up to 24% per annum depending on the applicant’s profile and the tenure chosen.
What are the fees and charges applicable on two-wheeler loans?
Below are the fees and charges that apply to two-wheeler loans:
1. Rate of interest: Up to 24% per annum
2. Processing fee: Up to 5% of the loan amount (inclusive of applicable taxes)
3. Documentation and hypothecation charges: Up to Rs. 1,500 (inclusive of applicable taxes) collected upfront
4. Stamp duty: Payable as per state laws and collected upfront
5. Valuation charge: Up to Rs. 2,000 (Inclusive of applicable taxes)
For New: Not Applicable
For Used: Up to Rs. 2,000
For Refinance : Up to Rs. 2,000
6. Prepayment charges:
Full Pre-payment
Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
Part Pre-payment
Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment
7. Bounce charge: Up to Rs. 531/- per bounce.
“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) 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.
8. 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.
9. Repossession / Surrender charges: Rs. 5,000 (inclusive of applicable taxes)
Fees charged to the customer for repossession/surrender cost incurred by the company.
What is the minimum and maximum tenures for repaying a two-wheeler loan?
Bajaj Finance offers flexible repayment tenures ranging from 6 months to 84 months.
What is the process to apply for a two-wheeler loan?
Just follow these simple steps to apply for a two-wheeler loan from Bajaj Finance:
Go to the two-wheeler loan page and click on 'Apply Now' to start the two-wheeler loan application process.
Enter your full name, PAN Card number, and a few other basic details to complete the application form.
Select the details of the two-wheeler that you wish to purchase and choose the dealer showroom closest to your location.
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.
More about two-wheelers on EMIs
Bikes on EMIs
Bikes seamlessly blend convenience, adventure, and efficiency in your daily life. Their agile design allows riders to effortlessly navigate through congested streets, providing a convenient and time-saving solution for daily commutes. Beyond practicality, bikes introduce an adventurous element to travel, enabling riders to explore scenic routes and discover new horizons. Whether you are looking to buy a sleek sports bike or a rugged cruiser, you can choose Bajaj Finance Two-wheeler Loan of up to Rs. 21 lakh to finance your purchase. Benefit from our easy repayment plans and bring home your desired bike.
Electric vehicles on EMIs
Embracing electric scooters for your daily commute not only enhances comfort but also presents advantages for the environment and your finances. Opting for an electric scooter is a clear step towards reducing your carbon footprint, as these vehicles operate emission-free, relying on 100% clean energy. Beyond environmental benefits, electric scooters offer a practical solution to circumvent traffic congestion, providing a distinct advantage for urban travel. Choose Bajaj Finance Two-wheeler Loan and fund the purchase of your electric scooters with ease. Our long tenure helps you to convert the cost of your two-wheeler into easy EMIs.
Factors to consider before choosing a two-wheeler EMI plan
When selecting an EMI plan for your two-wheeler, it is essential to make an informed choice. Several factors can affect your monthly payments and overall financial comfort. Here are key considerations to keep in mind:
- Budget: Determine how much you can comfortably spend on monthly payments without straining your finances.
- Loan tenure: Consider the duration of the loan. A longer tenure means lower EMIs but may result in higher interest payments overall.
- Down payment: The amount you pay upfront will affect your EMI. A higher down payment reduces the loan amount and the resulting EMIs.
- Prepayment charges: Check the prepayment charges if you decide to pay off the loan early.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.