Get your dream bike or scooter with our hassle-free two-wheeler loan. Apply online and get up to Rs. 21 lakh for a bike or scooter with attractive interest rates. Apply online and benefit from minimal paperwork, quick processing and bring home your desired two-wheeler.
Features and benefits of two-wheeler loan
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Up to 100% funding of the on-road price
We provide up to 100% funding* of the on-road price of your dream vehicle.
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Get up to 7 years to repay your loan
Choose a flexible repayment tenure ranging from 6 months to 84 months.
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Minimum credit score
You need a minimum credit score of 600 to qualify for a two-wheeler loan.
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No guarantors are required
We do not ask for a guarantor if you meet the eligibility requirements.
*Terms and conditions apply
Two-wheeler loan eligibility criteria 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 loan application.
- Customer profile: Salaried individuals, self-employed, individuals, pensioners, students, homemakers, and farmers
- CIBIL Score: 600 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 for a two-wheeler loan online
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:
- 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.
Applicable fees and charges
Bajaj Finance offers two-wheeler loan interest rates (scooter/bike loan interest rates) of up to 24% 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 24% per annum |
| Processing fee | Up to 5% of the loan amount (inclusive of applicable taxes) |
| Documentation and hypothecation charges | Up to Rs. 1,500 (inclusive of applicable taxes) collected upfront |
| Stamp duty | Payable as per state laws and deducted upfront from loan amount |
| 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 |
| 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
Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment |
| 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. |
| 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. |
| Repossession / Surrender charges | Up to Rs. 5,000 (inclusive of applicable taxes) Fees charged to the customer for repossession/surrender cost incurred by the company. |
Frequently asked questions
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.
You need a minimum credit score to be eligible for a two-wheeler loan from Bajaj Finance.
Bajaj Finance offers flexible tenures ranging from 6 months to 84 months.
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.
The two wheeler interest rate is up to 24% per annum, depending on the applicant’s profile and the tenure chosen by the applicant.
The maximum tenure offered by Bajaj Finance on a two-wheeler loan is 84 months (7 years). You can use a two-wheeler loan EMI calculator to estimate EMIs for varying repayment tenures.
Both salaried and self-employed individuals who meet basic eligibility criteria are eligible for a bike loan or a two-wheeler loan. With the Bajaj Finserv Two-wheeler Loan, you can get a loan by meeting some basic eligibility criteria. You should be between 18 years and 70 years for all employment types at the time of loan application. You should also have a CIBIL Score of 600 or above.
The minimum salary required for a two-wheeler loan differ from lender to lender. Salaried applicants typically need a regular income, while self-employed individuals must show consistent earnings through bank statements or income documents.
When you choose the Bajaj Finserv Two-wheeler Loan, you can benefit from quick approval facility. Once you fulfil eligibility criteria and submit your paperwork, your application gets approved quickly.
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
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