Two Wheeler Loan

Whatever be your choice of a two-wheeler - right from a Moped to a 500cc racer bike our two-wheeler Loan scheme is designed for you. The process is entirely paperless. In principle, approval can be provided in 15 minutes subject to the satisfaction of CIBIL and rating scores.

Features and Benefits
  • It is available to all Individuals.
  • It is for the purchase of a two-wheeler for personal use.
Charges and Limits
Loan amount Maximum up to Rs. 50 Lakhs
Margin 15% to 25%
Maximum Repayment Tenor 60 Months - EMI
Primary Security Hypothecation of Vehicle purchased out of bank finance.
Collateral Security Optional (NSC / KVP / LIC Policies, Bank Deposits, Land & Building etc.,).
Guarantee Optional.
A suitable Guarantor with sufficient net worth, acceptable to the Bank (preferably spouse or family members or friends).
Insurance Coverage for the Borrower Available to the extent of the Loan amount with BAGIC payable by the Borrower. (As per choice of the Borrower).
Processing Charges
Vehicle value up to Rs. 2 Lakhs 1% of loan amount subject to a minimum of Rs. 1,000/-
Vehicle value above Rs. 2 Lakhs up to Rs. 10 Lakhs Rs. 3,000/-
Vehicle value above Rs. 10 Lakhs Rs. 7,500/-
Other Terms & Conditions
  • The Net Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.
  • Payment directly to the seller by way of DD / NEFT / RTGS / Account Credit etc.,
Interest Rate
Nature of Facility ROI
Two Wheeler Loan Minimum 13% Maximum 22%

Note : Rate of Interest linked to MCLR. Rates will change based on prevalent MCLR.

To check Interest rate: Click here

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