Two-wheeler Loan Interest Rates and Charges
Bajaj Finserv offers a two-wheeler loan at an affordable rate of interest.
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Bajaj Finance offers two-wheeler loan interest rates (scooter/bike loan interest rates) of up to 31% per annum. A two wheeler loan can help you to finance the purchase of a new scooter or bike easily. Check the table below to understand the different types of fees and the applicable charges when you choose a two-wheeler loan from Bajaj Finance.
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 collected upfront |
Prepayment charges |
Full 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 (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. |
Penal charge |
Delay in payment of instalment(s) shall attract penal charge of 36% per day 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) |
Stockyard charges |
Rs. 118 per day up to 60 days (Inclusive of applicable Taxes) |
Broken period interest/ pre-EMI interest |
Method of recovery of ‘Broken period interest / pre-monthly instalment interest’ would be as follows: Scenario 1: If loan is disbursed on 1st or post 20th of the month: Scenario 2: If loan is disbursed between 3rd and 20th of the month: First instalment will consist of interest for actual number of days |
NOC KIT |
NA |
| 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 charges | Up to Rs. 1,500 (inclusive of applicable taxes) |
| 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 about two-wheeler loan interest rate and charges
A two-wheeler loan from Bajaj Finance comes at interest rates of up to 31% per annum.
You can login to our customer portal on the web or using our app to check the status of your two-wheeler loan application.
The minimum amount for a bike down payment varies depending on the bike's cost and the loan terms.
The ex-showroom price of a bike refers to the cost of the bike at the showroom before adding taxes, registration charges, insurance, and other expenses. On the other hand, the on-road price includes the ex-showroom price, taxes, registration charges, insurance, and other expenses that come with purchasing a bike.
Bajaj Finance offers two-wheeler loans to help you with purchasing a new bike or a new scooter. You can visit Bajaj Mall to choose a bike of your choice. Then, select a suitable EMI plan and confirm the booking of the bike. Our representative will reach out to close a few details of your two-wheeler loan from Bajaj Finance. You will need to meet the basic eligibility criteria to qualify for a two-wheeler loan.
Generally, the factors affecting two-wheeler loan interest rates include the loan amount, loan tenure, and two-wheeler loan policy of the lender.
Two-wheeler loan interest rates are typically calculated based on factors such as the principal amount, loan tenure, and the lender's interest rate policy. You can get an estimate EMI by using our two wheeler loan calculator.
The EMI for a two-wheeler loan of Rs. 1 lakh depends on the interest rate and loan tenure. You can check out two-wheeler loan calculator to check EMIs for a new two-wheeler.
To calculate the EMI for a two-wheeler loan over 12 months, use the formula: EMI = [P × r × (1 + r)^n] / [(1 + r)^n - 1], where P is the loan amount, r is the monthly interest rate, and n is the number of months. Alternatively, you can use our two-wheeler loan calculator to estimate EMIs as per varying loan parameters such as tenure, down payment, and interest.
