Tata Capital Two-Wheeler Loan
Tata Capital offers two-wheeler loans that provide up to 100% funding of the cost of the bike with interest rates that start at 8.99% p.a. and loan amounts of up to Rs.5 lakh with a maximum repayment tenure of 5 years.
Table of Contents
- Features and Benefits of Tata Capital Two-Wheeler Loan
- Tata Capital Two-Wheeler Loan Fees and Charges
- How to Apply for Tata Capital Two-Wheeler Loan?
- Tata Capital Two-Wheeler Loan EMI Calculator
- Tata Capital Two-Wheeler Loan Eligibility
- What are the Available Bike Loan EMI Options?
- Documents Required for Tata Capital Two-Wheeler Loan
- Tata Capital Two-Wheeler Loan Customer Care
- Tata Capital Two-Wheeler Loan Status
- Tata Capital Two-Wheeler Loan Statement
Features and Benefits of Tata Capital 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.5 lakh.
- 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.
Tata Capital Two-Wheeler Loan Fees and Charges
The various details of the two-wheeler loan offered by Tata Capital are mentioned below:
Category | Details |
Interest Rate | 8.99% p.a. onwards |
Maximum Loan Amount | Rs. 5 lakh |
Minimum Loan Amount | Rs. 25,000 |
Income | Rs.10,000 per month |
Repayment Period | 6 months – 60 months |
Processing Fee | Up to 4% of loan amount plus GST |
Prepayment Charges | 5% of principal outstanding + GST |
How to Apply for Tata Capital Two-Wheeler Loan?
You can apply for Tata Capital Bank's bike loan both offline and online and the process is mentioned below:
Offline
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.
Online
To apply for Tata Capital Bank's bike loan offline, follow the process given below:
- Visit the official website of the bank.
- Click on ‘Vehicle Loan’.
- Select ‘Two-Wheeler Loan’.
- Click on 'Apply Now'.
- Enter the relevant details on the next page.
- Click on ‘Apply’.
- A Tata Capital representative will contact you to process the request.
Tata Capital 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 yourself of, 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 Two-Wheeler Loan Eligibility
The following are the eligibility requirements for Tata Capital Bank's two-wheeler loans:
- Age: 21 to 65 years
- Salaried or self-employed individuals
- Minimum employment stability: One year
- Minimum residential stability: One year
What are the Available Bike Loan EMI Options?
There are two EMI options available to pay back the bike loan:
- Structured EMI option: With this EMI option, you will be able to customise your EMIs based on your preference.
- Fixed EMI option: In this EMI option, the principal and interest components will remain the same during the whole loan period.
Documents Required for Tata Capital Two-Wheeler Loan
The following are the documents required:
Identity Proof | |
Address proof | |
Income proof (For salaried) |
|
Income proof (For self-employed) |
|
Residence ownership proof |
|
Tata Capital Two-Wheeler Loan Customer Care
In the case of any queries regarding the two-wheeler loan, you can contact Tata Capital’s customer care number on 1860 267 6060. You can contact the customer care number from Mondays to Saturdays between 9 a.m. and 8 p.m. You can also write an email to customercare@tatacapital.com in the case of any queries.
Tata Capital Two-Wheeler Loan Status
The procedure that must be followed to check the status of the two-wheeler loan application is mentioned below:
- Enter the mobile number or PAN.
- In case you have entered the mobile number, an OTP will be sent. Enter the OTP.
- Click on ‘Submit’ to check the status of the application.
You can also call the customer care number to check the application status.
Tata Capital Two-Wheeler Loan Statement
You can call the customer care number or send an email to customercare@tatacapital.com to request for the two-wheeler loan statement.
FAQs on Tata Capital Two-Wheeler Loan
- 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 is the LTV for Tata Capitals bike loan for high-end bike?
For high-end bikes, Tata Capital offers an LTV of 65%.
- 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.
- 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 is the minimum repayment tenure of the two-wheeler loan offered by Tata Capital?
The minimum repayment tenure of the two-wheeler loan offered by Tata Capital is 6 months.
- What is the maximum repayment tenure of the two-wheeler loan offered by Tata Capital?
The maximum repayment tenure of the two-wheeler loan offered by Tata Capital is 60 months.
- What are the age criteria that must be met to avail Tata Capital’s two-wheeler loan?
Individuals who are between the ages of 21 years and 65 years can avail Tata Capital’s two-wheeler loan.
- Does Tata Capital provide the option to avail a two-wheeler loan without making a down payment?
Yes, Tata Capital provides the option to avail a two-wheeler loan without making a down payment.
- Does Tata Capital provide two-wheeler loans on used bikes?
No, Tata Capital does not provide two-wheeler loans on used bikes.
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