Tata Capital offers two-wheeler loans that provide up to 100% funding of the cost of the bike with interest rates that start at 10.75% p.a. and loan amounts of up to Rs.3 lakh with a maximum repayment tenure of 5 years.
Tata Capital Bank Two-Wheeler Loan Interest Rate
Tata Capital offers bike loans with attractive interest rates and other details as given below:
|Interest Rate||10.75% p.a. onwards|
|Maximum Loan Amount||Rs. 3 lakh|
|Minimum Loan Amount||Rs. 25,000|
|Repayment Period||6 months - 5 years|
|Processing Fee||3.10% of loan amount|
|Prepayment Charges||5% of principal outstanding + GST|
How to Apply for Tata Capital Bank Bike Loan?
You can apply for Tata Capital Bank’s bike loans both offline and online.
- You can apply for a Tata Capital of India bike loan by visiting the branch nearest to you with the required documents as given in the next section.
To apply for Tata Capital Bank’s bike loan offline, follow the steps given below:
Step 1: Visit the official website of the bank
Step 2: Click on ‘Vehicle Loan’
Step 3: Click on 'Apply'
Step 4: In the chat box that appears, select ‘'Apply for Loan’'
Step 5: Under that category, select ‘'Two-Wheeler Loan’'
Step 6: Provide the details as required by the virtual assistant
Step 7: You will get a call back from the bank once your application has been processed.
Tata Capital Bank Two-Wheeler Loan EMI Calculator
Knowing how much your Equated Monthly Instalment (EMI) will be will help you plan regular repayments of your two-wheeler loan. You can use the free online EMI calculator on Tata Capital’s official website or the one on BankBazaar’s website to get an accurate breakdown of your EMI. Enter the loan amount you would like to avail, your desired repayment tenure, the current rate of interest, and the processing fee. You will get an instant result of your EMI as well as a detailed amortisation schedule. This will be more accurate and easier than doing a manual calculation.
Tata Capital Bank Two-Wheeler Loan Eligibility
The following are the eligibility requirements for Tata Capital Bank’s two-wheeler loans:
- Age: 21 to 60
- Salaried or self-employed individuals
- Minimum employment stability: One year
- Minimum residential stability: One year
Documents Required for Tata Capital Bank Bike Loan
The following are the documents required:
Proof of identity: Either one of these along with recent passport size photographs
- Pan Card
- Driver's License
- Voter's ID
- Aadhar Card
Proof of address: Either one of the following:
- Electricity bill
- Ration card
Proof of income:
- Bank statements of the last 3 months
- For self-employed individuals: Latest income tax returns
- For salaried individuals: Either one of the following:
- Salary slips of the last three months
- Form 16
- Salary certificate
Features and Benefits of Tata Capital Bank Two-Wheeler Loan
Tata Capital Bank offers two loan schemes for bikes. The features and benefits of both are as given below:
- Funding of up to 100% of the actual cost of the bike up to Rs.1.5 lakh
- Loan to Value (LTV) ratio of up to 95%
- Minimal paperwork
- Quick processing of loan application
- Zero down payment
- Two flexible EMI options: Fixed EMI for those with a consistent income and Structured EMI for those with steadily increasing income
- Online loan application can be done
- Instant and quick loan approval
Can I buy a high-end bike with a Tata Capital bike loan?
Yes, you can buy a high-end bike of up to Rs.3 lakh in value, subject to your repayment capacity, with a Tata Capital two-wheeler loan. The maximum repayment tenure will be 3 years for a high-end bike.
What are the eligibility criteria for a high-end bike loan from Tata Capital?
The eligibility criteria for a high-end bike with a loan from Tata Capital is to have a self-owned or parental-owned residence, employment stability of a minimum of 2 years, minimum income of Rs.15,000 for salaried individuals, and business income of Rs.5 lakh for self-employed individuals.
What is the LTV for Tata Capitals bike loan for high-end bike?
For high-end bikes, Tata Capital offers an LTV of 65%.
How can I increase my loan eligibility for Tata Capital’s two-wheeler loan?
You can increase your loan eligibility for Tata Capital’s two-wheeler loans by maintaining a high credit score (above 750), having a co-applicant with a good source of income credit score, showing additional income sources such as rental income or mutual fund dividends, and choosing a longer repayment tenure.
What are the factors that affect my eligibility for a Tata Capital two-wheeler loan?
The factors that affect your eligibility for a Tata Capital two-wheeler loan are your credit score, any outstanding loans or debts that you have, and your current income.