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  • Bank of Baroda Two Wheeler Loan

    Two Wheeler Loan
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    • Attractive interest rates
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    Bank of Baroda offers customers a number of banking solutions and products that are specifically designed to meet the financial needs, requirements and budgets of their clients. Among these banking solutions, the two wheeler loan is an attractive proposition for those individuals who are looking to acquire a vehicle, such as a motorcycle, in order to make travelling and commuting between destinations more convenient. These loans are an excellent alternative for individuals who cannot opt for car loans due to financial constraints. Bank of Baroda provides two wheeler loans at affordable and competitive rates of interest to customers of all backgrounds, and also affords them the opportunity to make easy repayments towards their loans.

    Perfect Personal Loan Deals for you

    Features and Benefits of Bank of Baroda Two Wheeler Loan:

    Two wheeler loans offered by Bank of Baroda come with a range of attractive features and benefits.

    • All residents of India can apply for a two wheeler loan through the bank
    • The loan can be paid off in easy and convenient Equated Monthly Installments (EMIs), which makes it less cumbersome on the borrower’s budget
    • The minimum amount of loan that can be applied for is Rs 5,000, while the maximum amount of loan that can be applied for is Rs 1 lakh or 5 times the income that the borrower earns per month, depending on whichever is lower.
    • Customers can avail of a 10% margin on the amount of loan rolled out
    • The maximum tenure available to repay and close out the loan fully is 60 months. This time period will commence immediately from the date the loan is approved and rolled out by the bank.
    • The two wheeler that the customer purchases with the loan amount is required to be used as security against the loan
    • The loan process is simple and free of hassle
    • The bank has a quick loan approval turnaround time of four hours
    • Borrowers need not worry about gathering a large amount of paperwork as the documentation required to acquire a loan is minimal

    Also Read: Two Wheeler Insurance.

    Bank of Baroda Two Wheeler Loan Interest Rates:

    Bank of Baroda provides two wheeler loans to customers at attractive and affordable rates of interest in order to meet the budgetary requirements of the borrower. At present the bank offers a floating interest rate of 14.25% on its two wheeler loans. This rate is market competitive, and is tailor made to fit into the budgets of individuals from all financial backgrounds.

    Bank of Baroda MCLR Rates

    Bank of Baroda recently fixed its Marginal Cost of Funds Based Lending Rate (MCLR) at 9.30% for one year. MCLR rates have been fixed for other tenors as well and have come into effect as on April 1st 2016. These rates will be applicable to all pricing loans that the bank sanctions.

    The MCLR Rates set by Bank of Baroda are as follows:

    Loan Tenor MCLR Rate
    Overnight 9.00%
    1 Month 9.05%
    3 Months 9.05%
    6 Months 9.10%
    1 Year 9.30%
    3 Years 9.35%

    Eligibility Criteria for Bank of Baroda Two Wheeler Loan:

    In order for an individual to acquire a two wheeler loan through Bank of Baroda, the following eligibility criteria will be required to be fulfilled:

    • The applicant must be a resident of India
    • The applicant must be any of the following:
      • A salaried individual
      • A self employed individual
      • A professional
      • An individual carrying on any business
      • A farmer
    • The applicant must be at least 21 years of age in order to apply for this loan
    • The applicant must be no more than 65 years of age at the time of maturity of the loan
    • In order for a salaried individual to apply for this loan, he or she must be employed with the current organisation for a minimum of 1 year, and must possess a minimum of at least 2 years of overall employment.
    • Self employed individuals looking to avail of this loan are required to have been carrying on business for a minimum of 3 years
    • Salaried individuals are required to draw a minimum of Rs 84,000 as their income on a yearly basis
    • Self employed individuals are required to draw a minimum of Rs 72,000 as their income on a yearly basis
    • All applicants looking to avail of this loan must possess a telephone at their place of residence

    You may also be interested in Bike Insurance.

    Documentation Required In Order To Apply For a Bank of Baroda Two Wheeler Loan:

    Customers looking to apply for a two wheeler loan through Bank of Baroda are required to submit the following documentation to the bank in order to have their applications processed:

    • Identity Proof - Any of the following:
      • Copy of valid Passport
      • PAN Card
      • Voters ID Card
      • Driving License, which should be readable and laminated
    • Proof of Income
      • A salaried individual is required to submit his or her most recent salary slip as well as Form 16
      • A self employed individual is required to submit his or her most recent income tax returns
    • Proof of Address or Residence
      • Copy of Valid Passport
      • Ration Card
      • Voters ID Card
      • PAN Card
      • Telephone Bill
      • Life Insurance Policy
      • Driving License
      • Electricity Bill
    • Last 6 months bank statement
    • Applicants who apply for two wheeler loans in excess of Rs 50,000 are required to provide security in the form of a guarantee from a third party along with any of the following:
      • National Savings Certificates (NSC)
      • Mortgage of property owned by the borrower
      • Share Certificates
      • Any other form of security


    1. What are the processing fees or charges levied by the bank when acquiring a two wheeler loan?

      Bank of Baroda levies a processing fee of 2% of the loan amount sanctioned, subject to a minimum charge of Rs 250

    2. Will the vehicle purchased by the borrower require to be insured?

      All two wheelers purchased through loans acquired via Bank of Baroda are required to be insured with the bank’s clause

    3. How can one apply for a two wheeler loan with Bank of Baroda?

      Customers who wish to apply for a two wheeler loan through Bank of Baroda can visit the bank’s official website and download the application form, which they can fill in and submit at the branch nearest to them.

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    Bank of Baroda Two Wheeler Loan Reviews

  • Page 1 of 1
    • review Two Wheeler Loan
      "Good loan from Bank of Baroda"
      0.5 4.0/5 "Great!"
      I got my bike by using the Two wheeler loan from Bank of Baroda. I used to pay the EMI of Rs.1200 monthly. Tenure of the two wheeler loan is 5 years. I got the loan amount of Rs. 50000. I got the loan 3 years back. I got the tow wheeler loan within 1 month.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 27, 2018
    • review Two Wheeler Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I took another bike loan with the Bank Of Baroda. The loan process was quick and hassle free. I never had any issues during the application and documentation. The loan was approved instantly and I was able to buy the bike with in a few days.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 22, 2018
    • review Two Wheeler Loan
      "Easy Two wheeler loan "
      0.5 3.5/5 "Pretty good"
      I had two wheeler loan with Bank of Baroda, their customer service is good enough. But I got my loan amount delay however I am fine with their service. BOB offered me the interest rate of 13.67 for the two wheeler loan for the amount of Rs. 60,000. The interest rate was flexible for bike loan .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 29, 2018
    • review Two Wheeler Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      I had taken two wheeler loan from Bank of Baroda and that was during the year 2014. I got spot loan from the bank with the help of Bajaj showroom. But the interest rate is higher when compared with any other banks. Other than interest rate, they provided a spot loan too.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 09, 2017
    • review Two Wheeler Loan
      "Excellent service "
      0.5 4.0/5 "Great!"
      The relationship manager was completely helpful and supportive during the whole process . Without much verification and with very less documents they were able to offer this two wheeler loan . At the same time, the rate which was charged by Bank of Baroda was compartively higher .The two wheeler loan process was good and it was taken exactly before 3 years.
      Was this review helpful? 15
      , bangalore
      Reviewed on Aug 10, 2016
    • review Two Wheeler Loan
      "Trust worthy"
      0.5 4.5/5 "Excellent!"
      I have closed my two wheeler loan with the Bank of Baroda with the lowest rate of interest. Within 3 to 4 days of time everything got completed and I got the bike. Documentation process is good with them and everything got charged as per the norms and conditions . Negotiation is not the word will come with them because they are always low. Its the best place for the home loan, vehicle loan. They are helping in each and every steps like apart from their banking relationship they are helping to us in personal manner. Customer service can be improved and which makes me to go to their branch.
      Was this review helpful? 4
      , mumbai
      Reviewed on Sep 29, 2015
    • review Two Wheeler Loan
      0.5 4.0/5 "Great!"
      I am holding a two wheeler loan with Bank of Baroda. The customer service offered by them was ok. They took about 2 or 3 days, after submitting my documents they have processed the loan. They have provided very good flexibility where I can make the payment in 60 EMI. I guess this loan would be closed by July or August. "
      Was this review helpful? 5
      , amritsar
      Reviewed on Feb 19, 2015
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