Two-wheeler on EMIs

We do not require a minimum credit score but any score below 700 may lead to a lower loan amount approval.

Bajaj Finance offers flexible repayment tenures ranging from 12 months to 72 months.

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

• Fill out the online form or reach out to a representative at a two-wheeler partner store.
• After a quick eligibility check, get instant approval without any field investigations.
• Pick the loan amount, EMI amount and repayment tenure according to your choice.

The rate of interest charged by Bajaj Finance ranges up to 35% per annum depending on the applicant’s profile and the tenure chosen.

The minimum age is 18 years and the maximum age is 70 years for Individual applicant/ co-applicant.

Below are the fees and charges that apply to two-wheeler loans:

1. Rate of interest: Up to 35% per annum

2. Processing fee: Up to 12.95% of the loan amount (inclusive of applicable taxes)

3. Documentation and hypothecation charges: Up to Rs. 2,500/- (inclusive of applicable taxes) collected upfront

4. Stamp duty (as per respective state): Payable as per state laws and collected upfront

5. 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

6. 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.

7. Penal charge: Delay in payment of instalment(s) shall attract penal charge of Rs. 6 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

8. Loan enhancement fee: Rs. 117/- (inclusive of applicable taxes) for temporary increase in EMI card limit for the loan transaction. Same will be charged only for increase in limit in excess of Rs. 999/- to be collected along with first instalment

9. Legal, repossession and incidental charges: Rs. 3,540/- (inclusive of applicable taxes)

10. Stockyard charges: Rs. 59/- per day up to 60 days (inclusive of applicable taxes)

11. Broken Period Interest/Pre-EMI Interest: Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s) which is(are) charged in two scenarios

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by adding to the first instalment amount.

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

12. NOC KIT: NA

13. 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.

14. Cash collection handling charges: Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.

15. Cash deposit charges: Customers will incur a cash deposition charge of Rs. 50 (inclusive of applicable taxes) when making cash payments at our branch offices.

16. Platform fees: Rs. 11 (inclusive of applicable taxes) will be charged for utilising the payment gateway to make part or full payments towards the loan through digital properties.

17. DCC charges: Up to Rs. 1,500