• Two Wheeler Loan

     4.5 / 5.0   by 1889 users
    Used this product? Write a review >>

    About Bike Loans:

    If you have been wondering how to buy a new or a used two-wheeler, you can apply for a two-wheeler loan. With such a loan, you can make your purchase process simpler as you will not be forced to shell out your entire savings on buying a new bike. You can buy any type of scooter or bike from the market with the help of a bike loan. Moreover, you can repay a two-wheeler loan through equated monthly installments (EMIs). You can buy a 200 cc scooter or a 500 cc bike with a two-wheeler loan. Both banks and non-banking financial corporations (NBFCs) offer bike loans at affordable prices. You can choose the interest rate for your loan according to your convenience. There are official bank websites and third-party financial web portals that give a clear picture of loan details. You can take a look at the different features and fees of each loan, and then make a judicious decision.

    Bikes are extremely popular in the country as it helps people commute very easily without getting stuck in traffic jams. Also, considering that a lot of families are going nuclear, bikes are more preferred and economic. The other observation that has been noticed is the rise in the youth demographic in India (18 to 25 years), forming a majority of motorcycle buyers in India.

    Perfect Personal Loan Deals for you

    Two-Wheeler Industry in India

    The two-wheeler industry in India is said to be one of the largest of its kind in the world. Whether it is due to the fact that bikes are the cheapest form of personal transport or the large urban middle income demographic in the country, this motor industry is booming. One of the other main plausible reasons for the rise in two-wheelers is that they are easily available to Indians and there are many banks and NBFCs that provide cost-efficient two-wheeler loans.

    Additional Interesting Facts to Know About Two-Wheelers in India

    • Some of the top two-wheeler companies in India that offer bikes and scooters include Hero MotorCorp, TVS Motor, Honda Motorcycle & Scooter India (HMSI), Bajaj Auto, Yamaha, Royal Enfield, and many more. The Indian market also has bikes made by foreign bike manufacturers.
    • Some of the best-selling two-wheelers of the year 2017 were Honda Activa 4G, Hero Glamour 2017, Aprilia SR 150, Honda Dio, TVS Apache RTR 160, etc.
    • The future of two-wheelers in India will mainly comprise electric two-wheelers. All bikes will fully run on electricity without any petrol or diesel consumption. The country has had a good start with electric two-wheelers with electric bikes being launched by Electrotherm and Hero Electric. A few other companies that are working towards developing and releasing electric scooters include Mahindra Two Wheelers, Yamaha, Bajaj Auto, and TVS Motor. These bikes will most likely utilise lithium-ion (Li-ion) batteries to be operated. There is also Ather Energy that will release the first electric scooter to be fully developed in India. The scooter’s name is Ather S340.
    • Apart from Indian bike makers, there are also foreign bike manufacturers that are interested in selling their vehicles in the Indian market. This is specifically because they think that India is a highly profitable market for two-wheelers due to the high demand for vehicles. A few of the foreign bike manufacturers that are already selling their vehicles in India include Harley Davidson, Suzuki, Ducati, etc. UM Bikes, US bike manufacturer, has also recently launched its bikes in the country.
    Apply for Personal Loan

    Why Should I Choose a Two-Wheeler Loan?

    Considering the rising number of private cars in the urban regions in India, one might think that rural area transportation may have similar trends. The truth is that the majority of the rural demographic can afford a two-wheeler, mainly due to the availability of loans to buy the same. But the convenience of bikes are not the only factors that make these loans a popular finance product in India:

    • Two-wheelers have a better resale value in the long run against cars and hence, once your loan repayments are made, you can think of a new vehicle already.
    • A lot of people in India have the money to buy an entry-level motorcycle or scooter at one-go. But this would cause much distress, in terms of finances for the family. Also, a part of the lump sum that they have can be used to save or even invest in other investment products such as mutual funds, fixed deposits or even buy two-wheeler Insurance. In other words, it helps to ease the burden of buying a vehicle in a single month.
    • A lot of people cannot afford to buy a vehicle unless they are allowed to pay installments and the majority of buyers fall in this demographic. Two-wheeler finance allow borrowers to pay EMIs comfortably. Also, they have much lower maintenance costs than four-wheelers. The mileage or fuel consumption is also better making it a more convenient buy.
    • The Indian loan market has a lot of options in the form of banks to choose from with competitive interest rates and even throwing in combos for loans and insurance packages taken together. Some even come with the advantage of paying through post-dated cheques.

    Types of Two-Wheeler Loans

    There are two types of bike loans available in India, based on the security of the loan:

    • Secured bike loans: You generally take these loans against a security or collateral that may be an asset, such as home, bond, land, etc. While these loans are easily available and have comparatively lower interest rates than unsecured loans, they also carry the risk of losing your asset, in case you are unable to successfully pay off your loan amount.
    • Unsecured bike loans: At first, this may seem quite lucrative, considering they require no collaterals to be declared for loan sanction, but it eventually makes you pay a much higher price for your vehicle than you would have paid if you had taken a secured loan. But for first-time buyers, a secured loan is not always possible. Hence, this type of loan is the only option that is viable.

    However, if one has the liberty, they should choose their loan type based on their priorities, both current and long-term.

    How to Avail Two-Wheeler Loans?

    You can apply for a two-wheeler loan through 2 main methods and they include online methods and offline methods. Let us take a look at the process of applying for a two-wheeler loan through these methods:

    Online application for two-wheeler loans

    • This is an extremely easy way of applying for two-wheeler loans. It is quick and stress-free.
    • You can visit official websites of lenders that offer these loans or third-party financial websites. Once you visit these websites, you will get details about interest rates, fees, charges, and EMI options associated with each loan. You can compare each feature of various loans and then choose your loan. You can also decide your loan tenure and loan amount by making comparisons online.
    • You may also utilise an online loan EMI calculator, which is available on both financial websites and official bank websites. Here, you can key in different loan amounts, loan tenures, and interest rates. Once you get results for the details that you enter, you can fix your loan tenure and loan amount.
    • When you apply online, you can also submit required documents online by uploading them on the website. This will differ from lender to lender. You can check with your lender before you make the application.
    • Applying online is easy as you can apply from your home or office without having to visit a bank branch and waiting in a long line.
    • Online application for two-wheeler finance reduces overall loan expenses.
    • Most lenders provide door-step delivery of loans when you apply online.

    Offline application for two-wheeler loans

    • When you want to apply offline for a two-wheeler loan, you will need to visit a branch of the bank or NBFC that you are interested in.
    • At the branch, you will need to ask for a customer representative to guide you in applying for a two-wheeler finance.
    • You can tell the representative about your preferences and financial condition.
    • You will be required to finish all the formalities before the loan amount is disbursed to your account.
    • When you apply offline, you will not be able to make use of online loan EMI calculators.
    • You also will not be able to compare the several two-wheeler loan options that are available in the financial market. Moreover, you may have to stand in a queue while waiting for your turn to get support from a representative.

    Features of Two-Wheeler Loans

    There are numerous reasons and benefits of a two-wheeler loan, but there are some that stand out. It has mostly to do directly with the financing aspect of it but still is highly valuable to most customers, if they are aware of it. Read on to know the major features that you should look out for in your choice of two-wheeler loan:

    • Margin of finance: On an average, most 2 wheeler loans will pay for up to 90% margin of finance. This means that you can make a loan down payment of only 10%, which is merely considering the prices of an average two-wheeler.
    • Loan partnerships with dealers: Auto-financiers often have special deals with motorcycle and scooter dealerships to provide convenient loans, which often prove to be cheaper than the ones, if opted separately. Also, as a buyer, you can negotiate freebies and added benefits if the bike or scooter dealership offers you the same.
    • Relieving financial burden: The most beneficial feature is the fact that it helps spread the costs into a yearly loan that will last, based on your requirements, never to be responsible to give you a tough time when it comes to financing it. Some companies also take post-dated cheques for loan repayments, which is also convenient for many.
    • Annual income leverage: Banks often offer these loans to people who are earning as low as INR 50,000 in a year. This means that you do not even have to be in the taxable bracket to get these loans and at the same time you can still afford it. Since the loan repayment tenure can go up to 4 years, your monthly installments will not affect your income as such as long as you have that in your mind, in your monthly budget.
    • No prepayment or early foreclosure charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends. This is often suitable for some because it helps to clear off your debts faster if you can. At the same time, banks know that two-wheeler loans do not have very high loan amounts and hence charge nominally and sometimes do not charge anything at all.
    • Other costs covered: These loans often cover the costs of accessories, insurance, and even registration. This means that you are getting finance for not only the vehicle but the essential expenses on the same. It is a good idea to add security accessories and make the most of this opportunity since the premiums also are made lower if you have extra security and safety features in the vehicle.
    • Flexibility in loan tenure: Loans provide borrowers with ample time to pay back for the 2 wheeler loan with tenures that range between 12 to 48 months. A longer tenure helps to manage an individual's monthly finance better and at the same time avoid defaulting payments.
    • Credit score: As a first-time vehicle buyer or while opting for a loan for the first time, motorcycle loans are a great idea to open your file for your credit score since not only will this be a fast loan to repay but will not affect your credit score with lower chances of defaulting the loan repayments.

    Eligibility Criteria for Two-Wheeler Loan Applications

    Banks do not give loans for your vehicle on your face value. In fact, nowadays, banks are extremely careful about making sure that their customers are able to pay up their loans. This is especially due to the rising debt rate among youngsters in the country. Hence, they have a general set of eligibility criteria for two wheeler loans, among which the following are the most important to cover.

    The following table shows the general eligibility criteria for certain factors. These details can differ from bank to bank. You can check with your lender before you apply for a loan.

    Two-Wheeler Loan Eligibility Criteria
    Particulars Eligibility Criteria
    Age 18 or 21 years to 65 years
    Employment status Salaried or self-employed
    Preferred credit score 750 and above
    Employment tenure At least 6 months in the same job
    Minimum income Pretty low
    Residential stability Applicant should be residing in the same space to show residential stability
    Permanent telephone number Required

    As discussed in the table given above, it is important for every loan applicant to earn a minimum income. For two-wheeler loans, the minimum income requirement is pretty low. If you earn a decent salary every month, it is good enough. When you approach any lender, you can check with them if they have any specific income requirements. Also, it is important for every loan applicant to have a permanent mobile or landline number so that the lender can get in touch with the applicant anytime for getting any clarification. The number can be your personal number or official number. It is also important for a loan applicant to show residential stability to prove that he or she has been staying in a particular residential property for a reasonably long period. The loan applicant also needs to prove job stability.

    To prove the above-mentioned aspects, one will need to furnish relevant documents while applying for a loan.

    You May Like To Read : Two Wheeler Insurance.

    Documentation Required for Bike Loan Applications

    It is essential to remember that with every eligibility criterion that needs to be covered, comes the requirement to prove it to the bank through documentation. Based on these aspects, the following are the most basic documents that may be required to be submitted along with your loan application to ensure positive results on your loan approval:

    Two-Wheeler Loan Documents
    Particulars Documentation Required
    Photo identity proof Passport-size photographs, at least 2 to 6 are recommended to be kept handy for your loan application.
    Identity proof Any one of the following:
    • Passport
    • Electoral Voter Identity card
    • Driving License
    • PAN Card
    • Aadhar Card
    Address proof Permanent address proof: PAN card, Driving License Temporary address proof: Bills against your name
    Employment proof For salaried employees:
    • Employment or offer letter
    • Bank statements
    • Salary slips
    For self-employed individuals:
    • Latest Form 16
    • Bank statements
    • Proof of their source of income

    Please note that you will need both the originals and the photocopies while applying for a two-wheeler loan. Hence, we advise you to keep both at an arm's distance.

    Two-Wheeler Loan Interest Rates

    Two-wheeler interest rates are variable, based on the bank as well as a range of other factors such as your chosen tenure, your credit report and even the vehicle you have chosen to buy. The rates generally vary between a minimum of 11% to 18.25% p.a. Apart from your interest rate, you will need to check your processing fee and other charges in order to determine the total expenses of your loan. You can negotiate the interest rate with your lender if you have a credit score or if you have some other way to prove your good repayment ability.

    Two-Wheeler Loan Fees and Charges

    Whenever you plan to apply for a two-wheeler loan, you need to consider the fees and charges associated with it. You cannot ignore these charges. Looking only at the actual price of the loan will not give you the right idea about the expenses of your loan. Along with the interest rate, you need to compare the fees and charges for each loan too. This will help you choose the right bike loan as per your preferences and requirements. Let us take a look at some of the common fees and charges that you will need to pay for your bike loan:

    • Processing fees: Processing fees are charged for processing the request for the loan and it is mandatory for most banks. They are also, generally calculated in percentages of the total loan amount. It is also essential to note that this fee is non-refundable under any given situation. The amount charged for it varies from bank to bank but ignoring this number often leads to people paying excess for their loan.
    • Prepayment fees: This is charged under the circumstance where people are able to pay the repayments earlier than due and sometimes even pay the remaining loan amount earlier. For bike loans, this charge is generally very low and sometimes even non-existent.
    • Late-payment fees: As the name suggests, this fee can be easily avoided, with a little bit of planning. The borrower is generally charged this when crossing the due date for loan repayment, generally is a genuine result of financial crunch or lack of funds. However, banks charge a fee regardless the circumstances.
    • Charges for conversion: If you wish to change your two-wheeler loan from a floating rate calculation to a fixed rate or vice versa, this fee is charged. This is basically a charge for switching, based on your requirements. In other words, it is a flexibility fee.
    • Copy of an account statement: Sometimes people may require a statement for their current statement for the loan. While most banks do not charge for getting you a copy of the same, there might be a few banks which may levy a nominal charge for a hard copy of the same.
    • Administrative fee: This is often a very deceiving name for this fee because it is often confused with processing charges. This charge takes care of the administrative cost to the bank for processing your loan, which is not a part of the processing fees.

    Points To Remember Before You Get a Bike Loan

    Before you finalise on taking a particular bike loan, you need to keep certain points in mind. Let us take a look at some of the simple guidelines that need to be followed:

    • Perfect your credit history: Starting with your CIBIL score to the last mobile post-paid bill payment, today is the time for you to make amends in your credit history if you want to get a two-wheeler loan at reasonable interest rates. You need to understand that most loan companies are slowly getting access to your full financial profile, allowing them to judge as a customer who will keep to the loan repayment commitments.
    • Research for the best offer: While your dealership may offer you high on flexibility on your vehicle loan, it is essential that you scrutinise other options as well. Compare each product’s various fees and charges along with the interest rates. You can also check the features and benefits of the loan and then decide.
    • Go through the product disclosure sheet, terms and conditions, and product brochure: Before you actually apply for any loan, one of the main things that you may often forget is to check its terms and condition along with proper product details. If you are unsure about any information or if anything seems misleading, you can contact the bank immediately to clarify.
    • Analyse your interest rates: You can use a two-wheeler loan EMI calculator to give you an approximate idea of how much you actually owe ultimately. You should also note other things such as whether it is a fixed or floating rate, different base rates, etc. Every bank has a different way of calculation with different numbers and this needs to be understood well by you.
    • Fees and charges: As discussed, you should not ignore the fees and charges just because you see a pleasing interest rate for your two-wheeler loan.
    • Documentation: You should keep all your documentation ready, because once you are sure about a loan product, you can instantly apply online or at the dealership.

    FAQs on Bike Loans

    1. Do I need to visit the bank to avail a two-wheeler loan?

    Absolutely not. In fact, in the case of a dealership, the showroom will take care of the things related to the loan sometimes with a representative from the bank available in the showroom. Else, you can apply online. While some loans require soft copies of documentation, others will simply send a bank representative to collect the documentation and even discuss the product with you.

    2. When do I know that it is the right time to apply for a two-wheeler loan?

    The only way you can find it out is by calculating your finances, both currently and for the future. Use an EMI calculator to do so and get an estimated number in your head for monthly repayments. Once you think you can afford it, nothing should stop you, unless you have a terrible credit history.

    3. Will the bank pay for the whole bike or scooter?

    Different banks offer different margins of finance. While some may offer you only 80% margin, do not be surprised when you get 90% covered as well. It is essential to note that most top banks will offer you the full cost of your new vehicle, including other costs such as insurance and accessories.

    4. Is it essential to take a personal accident insurance when riding a two-wheeler?

    Absolutely yes, since riding a two-wheeler has a lot at stake against riding a closed four-wheeler.

    5. Can I pay the full loan repayment before the tenure for the loan ends?

    Yes, sure you can. You might be charged a nominal pre-payment charge for the same.

    6. Will I be allowed to choose between MLCR and base rates?

    The bank's terms and conditions on the same actually, rule over that. However, different banks will give you different numbers, resulting differently. So, to be absolutely sure, refer to their product brochure or literature.

    7. What is two-wheeler hypothecation?

    Hypothecation is a process of guaranteeing possessions as a security or a collateral for the settlement of your loan. In other words, it is an entitlement against the pledged asset as a security of a debt in a contract between you and the bank.

    8. How do I cancel my two-wheeler hypothecation?

    The steps for two-wheeler hypothecation are as follows:

    • Once your loan is completely repaid, keep the receipt as a proof.
    • You will be given two forms of Form 35 from the lender (bank or NBFC) and fill them up duly as directed.
    • Get a postal cover and put a Re.12 stamp on it. Remember to put your name and contact details on it.
    • You will be levied Rs.100 as the processing fee for HP termination. Now, you will get the receipt after disbursement.
    • Attach your bike's original RC book, copy of your insurance document, and duplicate copy of valid pollution under a control certificate along with the aforementioned postal cover and submit it to the Regional Transport Office.
    • You will get a receipt from the RTO as a proof of your submission.
    • You will be sent the RC book by speed post in less than a week.

    Please keep the copy of all the original papers that you have sent.

    9. Will I be allowed to switch from a floating rate to a fixed rate of interest or the other way round for my two-wheeler loan?

    Yes, some banks make it possible to do so. But, they also charge a conversion rate for the same. You can find out about this fee by checking online or by contacting a bank representative.

    10. If I am 18 years old, but I don't have a job yet, can I apply for a two-wheeler loan?

    Yes, some banks may allow you to do so, as long as you have a collateral or a guarantor to support you in case you are not able to make loan repayments on time. As a student, you can apply for loans, but do note that they are treated as special cases and are completely at the bank's discretion.

    Products you might be Interested

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Read Two wheeler Loan news or Enjoy it on the go Google Play

    • More economical bikes with front and rear disc brakes are now available in India

      The Indian two-wheeler market has more bikes with front disc brakes. Not too many bikes offer rear disc brakes. However, rear disc brakes are actually very important as they help in stopping the bike at short distances. Some of the economic front and rear disc brake bikes include Bajaj Pulsar 180, Bajaj Pulsar 200 NS, Yamaha FZ-S, Hero Xtreme Sports, Suzuki Gixxer SF, etc. The prices of these bike models typically range from Rs.81,331 to Rs.1.25 lakh. Most of these bikes have standard disc brakes at both front and rear.

      22 February 2018

    • Royal Enfield Sales Soared in January With a Record 31% Hike

      Royal Enfield has witnessed a record 31% increment in sales in January 2018 with 77,878 units being sold across various models compared to 58,133 units in January 2017. While the range of motorcycles available remain unchanged since last year, the company has managed to sell 76,205 units within the country in January this year as opposed to 58,133 units sold within the same duration last year. Royal Enfield has recently launched a new motorcycle in the Himalayan range - Royal Enfield Himalayan Sleet. The company sold 500 units of the bike outfitted with genuine motorcycle accessories along with a complimentary Explorer Kit at an introductory price through a limited online sale on 30 January 2018. Royal Enfield has currently announced the release of the new Interceptor 750 and continental GT 750 in competition with Harley Davidson and Triumph Motorcycles.

      21 February 2018

    • Interceptor 750 of Royal Enfield to compete with Harley Davidson

      Royal Enfield, leading Indian motorcycle manufacturer, is fully ready to release its latest offerings known as Interceptor 650 and Continental GT 650 twin cylinder motorcycles in the domestic market of the nation. The company aims to launch these bikes in spite of the sales of American Harley Davidson motorcycles in the country. According to sources, US President Donald Trump backs up the sales of Harley Davidson. Despite this, Royal Enfield is ready to challenge Harley Davidson Street 750 and Street Rod. The latest bikes of Royal Enfield will soon be released in the middle of 2018.

      20 February 2018

    • BBMP to allocate funds for bike ambulances

      The Bruhat Bengaluru Mahanagara Palike (BBMP) plans to invest money in 100 bike ambulances for offering quick first aid and emergency care. The civic body of Bengaluru City intends to do this to make sure that individuals receive good medical solutions during times of emergency. The BBMP said that these bike ambulances are most necessary in external areas or suburb areas where there are many wards that do not have enough access to proper ambulance services. As per sources, out of these 100 bike ambulances, 50 bikes will have lower engine capacity.

      19 February 2018

    • Suzuki Motorcycle aims to increase its volumes in the country by FY20

      Suzuki Motorcycle, leading Japanese bike manufacturer, aims to increase its volumes in India to 1 million units by the year 2019-20. In the current fiscal, which will end on March 31, 2018, Suzuki Motorcycle India (SMI), will attain a volume of Rs.5.7 lakh units. SMI, a fully-owned subsidiary of the Japanese company, will achieve 5 lakh units through domestic sales. The remaining 70,000 units will be through exports. Until now, this fiscal, the company has achieved 30% growth in sales. The company expects to achieve a revenue of Rs.3,500 crore.

      15 February 2018

    • Yamaha Motor Company Introduces the New MT-09 at 2018 Auto Expo

      The Yamaha MT-09 was unveiled at the 2018 Auto Expo at an ex-showroom price of Rs.10.88 lakh. The new motorcycle features a number of upgrades in addition to multiple enhanced design aspects and 3 new colours - Matte Dark Gray, Bluish Gray Solid, and Deep Purplish Blue. The 2018 Yamaha MT-09 sports a 847cc triple-cylinder engine coupled with a 6-speed gearbox to produce a maximum power of 113.4 bhp at 10,000 rpm and 87.5 Nm at 8,500 rpm of maximum torque. The middleweight streetfighter is also equipped with dual projector headlamps similar to Yamaha MT-10.

      Yamaha Motor Company has also showcased the 2018 Yamaha YZF-R15 V3 and 2018 Yamaha R3 with dual-channel ABS with ex-showroom prices at Rs.1.25 lakh and Rs.3.48 lakh respectively, at the ongoing 2018 Auto Expo.

      14 February 2018

    • 2018 Yamaha R3 sports bike re-released at the Auto Expo in India

      Yamaha Motor India recently re-released its R3 sports bike at the Auto Expo, which was held in the nation a few days back. The bike has been assembled by Yamaha in the country with the help of the CKD kit route. The re-launched version of the bike will now adhere to BS4 norms. One can choose from Magma Black and Racing Blue colours. This bike version has dual channel ABS. It comes with an engine displacement of 321 cc. The bike has a parallel-twin engine with alloy units in the tyres.

      13 February 2018

    • Nitish Kumar and Nitin Gadkari examine Bajaj flex-engine bike

      Nitish Kumar, Chief Minister of Bihar, and Nitin Gadkari, Union Minister, recently examined the functioning and features of the new flex-engine motorcycle made by leading bike maker, Bajaj Auto. Flex-fuel or dual fuel vehicles have the ability to function with the help of ethanol as well as petrol. The Union Minister for Road, Transport, Highways and Shipping, Nitin Gadkari, is encouraging the production of electric vehicles fleet and vehicles that function through alternative fuel such as ethanol. The Minister recently said that 2 bike makers will soon be producing electric and flex-engine motorcycles that can work on petrol and ethanol.

      12 February 2018

    • 2018 Triumph Speed Triple S and RS bikes have been exposed

      Triumph Motorcycles, leading British bike manufacturer, recently exposed its 2 new bike models of the 2018 Triumph Speed. The 2 variants are S and RS. These 2 models will deliver high performance and are lightweight vehicles. They come with advanced electronics. Both will have an engine displacement of 1,050 cc and engines with 3 cylinders. The motor of these 2 models will have 105 parts and pumps. The maximum power will be 146PS and the peak torque will be 116 Nm. Both the models come with a 6-speed gearbox.

      9 February 2018

    • Uber starts e-bike sharing service known as Uber Bike

      Uber in San Francisco recently announced that it will be starting a brand new electric bike-sharing service and this will be dockless. The service will be known as ‘Uber Bike’. Uber will be collaborating with Jump, an e-bike company that is based in New York. Under their contract, it has been decided that 250 dockless and electric bikes of Jump will be launched for the Uber service in San Francisco. Uber Bike will enable users of Uber App to book a Jump bike. Under this service, the cost for one bike will be $2 for half an hour.

      8 February 2018

    Essential Two Wheeler Loan Pages
    Two Wheeler Loan by Banks
    Two Wheeler Loan Articles

    Two Wheeler Loan Reviews

  • Page 1 of 50 1 2 3 4 5
    • review Two Wheeler Loan
      "Below Average service"
      BAJAJ FINSERV
      0.5 2.0/5 "Expected more"
      The BAJAJ FINSERV has disbursed my two wheeler loan. The customer support service is not up to the mark. My salary was with other bank , but the BAJAJ FINSERV told that they will cheque fort the EMI but the cheque was got bounced then , they started collecting the EMI in cash. The transparency is not available in the process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 22, 2018
    • review Two Wheeler Loan
      "Good Experience"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I got two wheeler loan immediately from Bajaj Finserv, I have provided the documents to them within a day they provided a loan and I got my bike delivery. I have not much interacted with them as well, I took the loan amount of Rs. 84,000 for the tenure of 3 years. Interest rate was also quite nominal for the two wheeler loan.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 21, 2018
    • SBI Two Wheeler Loan
      "Best service"
      STATE BANK OF INDIA
      0.5 4.5/5 "Excellent!"
      I have taken Two wheeler loan with SBI,the loan amount is 60,000,the rate of interest is nominal as compared to others.I pay mt EMI through an ECS payment.I submitted limited documents to process the loan.I did not pay any additional charges to process the loan,they responded very quickly and had processed it on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • review Two Wheeler Loan
      "Its Better"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      When I purchase the bike, my financier have suggested Bajaj Finserv institute, the process was good. They approved my bike loan for the amount of Rs. 68,000. I have purchase Bajaj discover 150, they gave me flexible tenure as per my exception.
      Was this review helpful? 0
      , kolkata
      Reviewed on Feb 20, 2018
    • review Two Wheeler Loan
      "Need to reduce the interest rate"
      BAJAJ FINSERV
      0.5 3.0/5 "Satisfactory"
      I have taken a two wheeler loan from Bajaj Finserv and it was closed in the year of 2015. The rate of interest was high compared to other financial institutions. I never contacted the customer service. The representative came to my place and collected the documents.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken Two wheeler loan with HDFC bank,the loan amounts is 36,000,rate of interest is nominal as compared to others,The tenure is one year.They had deducted minimum amount of processing fees.The bike modal is Activa.The customer service is good
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • SBI Two Wheeler Loan
      "Best service"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have taken Two wheeler loan with SBI,the loan amounts is two lakhs,rate of interest is 9.25% ,the total tenure is for 5 years,I completed almost one year.The EMI amount is 15400,i submitted documents online,i don't have any additional charges in the account.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Got the Two wheeler loan from the HDFC bank around 7 years ago. The customer support service is good with the HDFC bank and they have offered me the loan of 25% and the balance amount has been paid has initial payments. The rate of interest and the charges are average with the HDFC bank two wheeler loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from HDFC and the approved loan amount was 67000. The rate of interest was 8 to 9% were i have to pay a monthly EMI of 2667. The total tenure was for 2 years. The process was quick and the processing fee was 2% of the total amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2018
    • review Two Wheeler Loan
      "Disappointed Experience"
      BAJAJ FINSERV
      0.5 3.0/5 "Satisfactory"
      I was having out standing loan amount, hence Bajaj Finserv have not approved loan based on the credit score. Finally I took from my parents name. The loan process was difficult they stick to the credit score to take Rs. 50,000 to 60,000 of minimum amount. Service was not friendly and charges are more.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • review Two Wheeler Loan
      "Customer service should be improve"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I closed Bajaj Finserv two wheeler loan, it was average experience. I approached through the dealer, the customer service was good they processed my documents on time. I took the amount of Rs. 30,000 for tenure of 30 months, I paid all the dues.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 16, 2018
    • State Bank of Mysore Two Wheeler Loan
      "Good service"
      STATE BANK OF MYSORE
      0.5 5.0/5 "Blown Away!"
      My two wheeler loan got approved from the STATE BANK OF MYSORE within the promised time. The customer support service and the response was good with the STATE BANK OF MYSORE. The rate of interest and the charges are average with the STATE BANK OF MYSORE two wheeler loan.,
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a credit card with HDFC bank,the loan amount is 50,000.The rate of interest is nominal as compared to others.No processing fees for the same,the tenure is for 24 months.I closed five years ago.I dint have any foreclosure charges.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2018
    • review Two Wheeler Loan
      "Good Loan"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I took an Avenger bike using these Financiers. They gave me the Loan almost immediately within 2 hours. Their charges are all pretty decent throughout. I haven't had even a single cheque bounce in this Loan until now. The overall experience has been good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 16, 2018
    • review Two Wheeler Loan
      "Very good service"
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
      I have got the two wheeler loan experience from the INDUSIND BANK LTD around a year ago. The customer support is good with the INDUSIND BANK LTD , they have disbursed the loan amount within 5 to 6 days of time. The rate of interest and the charges are low with the INDUSIND BANK LTD two wheeler loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Got the Two wheeler loan from the HDFC bank around 3 months ago. The customer support service is good with the HDFC bank. They have disbursed the loan amount within 10days of time. They have offered me the loan amount up to 70% and I am satisfied with it.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • L&T Finance Two Wheeler Loan
      "Good service"
      L&T FINANCE LIMITED
      0.5 4.0/5 "Great!"
      I have taken a home loan with L& T and my loan experience was very good. The loan amount was for Rs 40000 with the rate of interest of 11% which is nominal when compared to other banks. The process was very fast and i received my loan within 2-4 days. Customer service was good, they responded on time and the tenure of this loan is 18 months.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 15, 2018
    • review Two Wheeler Loan
      "Better service "
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
      I have taken Two wheeler loan with Indusind bank,the loan amount is 30,000.the tenure is for 11 months,the rate of interest is very high as compared to others.The EMI active of 3350 i pay it through an ECS payments.They had processed quickly and submitted limited documents.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 15, 2018
    • review Two Wheeler Loan
      "Quicker approval"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I had a two wheeler loan with Bajaj and it was closed by last year. I have purchased Pulsar RS 200. They processed the loan quickly and everything was taken care by the showroom people. The loan procedure was very simple and fore closing can be done easily through online.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 14, 2018
    • ICICI Two Wheeler Loan
      "ICICI bank two wheeler loan"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from ICICI bank and the approved loan amount was 50000. The rate of interest was nominal. The monthly EMI comes around 2000 for a tenure of 3 years. The process was quiet good and simple. The customer service and response is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 13, 2018
    Common Loader Icon
    Page 1 of 50 1 2 3 4 5
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.