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Two-wheeler loan

If you’re looking to take a loan to buy a motorbike, check out the various two-wheeler loans available to you. Take a look at some of the banks that offer you these loans. Compare interest rates, processing fees, and your EMIs. Read on to find out the best option for you.

State Bank of India

Key highlights:

  • Get loans for both regular two-wheelers as well as superbikes.
  • Get up to 90% of the value of your bike financed.
  • Get easy loans with low minimum income requirements.
Interest rate EMI Processing fee Payment
11.95% p.a. to 17.75% p.a. Rs.5,404 1.22% of the loan amount Rs.1,96,376

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 17.75% p.a., and a tenure of 3 years. The processing fee percentage has also been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Bank of India

Key highlights:

  • Loans available for both normal two-wheelers and superbikes as well.
  • Financing is available for new 2-wheelers and used 2-wheelers.
  • Repayment period of up to 5 years.
Interest rate EMI Processing fee Payment
9.55% p.a. Rs.4,808 1% of the loan amount (minimum Rs.500 & maximum Rs.10,000) Rs.1,74,604

Note:The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 9.55% p.a., and a tenure of 3 years. The processing fee percentage has also been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

HDFC Bank

Key highlights:

    Punjab National Bank
  • Get financing of up to 100% of the value of your vehicle.
  • Enjoy flexible repayment options.
  • Get fast and easy loan approvals and disbursements.
Interest rate EMI Processing fee Payment
11.42% p.a. to 22.45% p.a. Rs.5,764 Maximum 3% of the loan amount Rs.2,11,988

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 22.45% p.a., and a tenure of 3 years. The processing fee percentage (3%) has also been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Punjab National Bank

Key highlights:

  • Special 2-wheeler loan scheme for women borrowers.
  • Extended repayment period of up to 5 years (60 months) for scooters and motorcycles.
  • Low minimum monthly income criterion.
Interest rate EMI Processing fee Payment
For regular borrowers – 11.70% p.a. to 13.20% p.a. For women borrowers – 10.20% p.a. For regular borrowers – Rs.4,961 For women borrowers – Rs.4,854 Rs.275 for both regular as well as women borrowers For regular borrowers – Rs.1,78,585 For women borrowers – Rs.1,74,750

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 11.70% p.a. and 10.20% p.a., and a tenure of 3 years. The processing fee percentage has not been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Andhra Bank

Key highlights:

  • Get financing for up to 90% of the value of your vehicle (90% for women and 85% for others).
  • Get a special loan scheme for women borrowers.
  • Enjoy low loan processing fees.
Interest rate EMI Processing fee Payment
For regular borrowers – 10.70% p.a. to 10.95% p.a. For women borrowers – 10.70% p.a. to 10.95% p.a. For regular borrowers – Rs.4,890 For women borrowers – Rs.4,890 1% of the loan amount (minimum Rs.500 and Maximum Rs.5,000). Taxes are extra. For regular borrowers – Rs.1,77,523 For women borrowers – Rs.1,77,523

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 10.70% p.a., and a tenure of 3 years. The processing fee percentage (1%) has been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Union Bank of India

Key highlights:

  • You can get up to 85% financing on the on-road price of your vehicle.
  • The bank offers up to Rs.10 lakh for purchasing two-wheelers.
  • There is no prepayment fee if you prepay using your own funds.
Interest rate EMI Processing fee Payment
11.60% p.a. Rs.4,954 0.50% of the loan amount (maximum Rs.15,000) plus taxes Rs.1,79,077

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 11.60% p.a., and a tenure of 3 years. The processing fee percentage (0.50%) has been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Indian Bank

Key highlights:

  • Get financing of up to 85% of the value of your motorbike.
  • Get the benefit of low processing fees.
  • Enjoy a repayment period of up to 60 months (5 years).
Interest rate EMI Processing fee Payment
12.10% p.a. Rs.4,989 0.23% of the loan amount subject to a maximum of Rs.10,236 Rs.1,79,960

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 12.10% p.a., and a tenure of 3 years. The processing fee percentage (0.23%) has been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Corporation Bank

Key highlights:

  • Get up to Rs.1 lakh to buy the motorbike you want.
  • Get financing for two wheeler insurance, registration, and accessories as well.
  • Enjoy low processing fees.
Interest rate EMI Processing fee Payment
12.50% p.a. Rs.5,018 0.50% of the loan amount (minimum charge is Rs.500) Rs.1,81,400

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, an interest rate of 12.50% p.a., and a tenure of 3 years. The processing fee percentage (0.50%) has been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Canara Bank

Key highlights:

  • Women borrowers can get special interest rates.
  • Low processing fees.
  • Extended repayment tenure of up to 7 years (84 months).
Interest rate EMI Processing fee Payment
For women borrowers – 11.70% p.a. to 12.10% p.a. For regular borrowers – 11.75% p.a. to 12.15% p.a. For women borrowers – Rs.4,961 For regular borrowers – Rs.4,964 0.25% of the loan amount subject to a minimum of Rs.1,000 and a maximum of Rs.5,000) For women borrowers – Rs.1,78,960 For regular borrowers – Rs.1,79,088

Note: The figures in the table above have been calculated based on a principal amount of Rs.1,50,000, interest rates of 11.70% p.a. and 11.75% p.a., and a tenure of 3 years. The processing fee percentage (0.25%) has been factored into the EMI calculation. The interest rate may change at the bank’s discretion.

Two-wheeler loan eligibility

Lenders have certain eligibility criteria they expect you to fulfil before they process your application. These may vary from one lender to another. Some of the general eligibility criteria are as follows:

Requirements Salaried Individuals Self-employed individuals
Age Minimum – 21 years at the time of application Maximum – 65 to 70 years at the end of the loan tenure Minimum – 21 years at the time of application Maximum – 65 to 70 years at the end of the loan tenure
Monthly income Rs.7,000 Rs.6,000
Credit score Above 750 Above 750
Loan amount Up to 100% of the value of the vehicle Up to 100% of the value of the vehicle
Residential stability Must be staying at the current address for at least 1 year Must be staying at the current address for at least 1 year
Work experience At least 1 year At least 1 year

Note: These criteria may be different for different lenders. Check with the lender of your choice before applying.

Documents required for two-wheeler loans

Every lender requires you to submit certain documents while applying for a loan. Some of the general documents required are given below:

Particulars Salaried Individuals Self-employed individuals
Identity Proof PAN card, voter’s ID, passport, driving license PAN card, voter’s ID, passport, driving license
Address Proof Utility bills, passport, etc. Utility bills, passport, etc.
Income Proof Salary slips, IT returns, bank statements Bank statements, IT returns, audited financial statements

Note: The documents required may differ from one lender to another. Check with your lender for what they require you to submit.

What is a two-wheeler loan?

Banks offer different types of loans for various purposes. For example, there are home loans for buying property, personal loans that can be used for a variety of purposes, gold loans for buying gold, etc. Similarly, a two-wheeler loan is one that can help you buy a motorbike especially when you don’t have the funds for it.

What are the advantages of taking a two-wheeler loan?

Applying for a loan to buy the bike you’ve always wanted can benefit you in a number of ways. Some of them include:

  • Get the funds you need to buy the bike you want.
  • Use a guarantor or co-applicant to get the money you need.
  • Get funds to buy superbikes as well.
  • Get affordable interest rates.
  • Enjoy a wide spectrum of loan repayment periods.
  • Repay your loan in affordable EMIs.
  • Pay every EMI on time and build your credit history.

Use BankBazaar’s two-wheeler EMI calculator to know your EMI

BankBazaar brings you a unique EMI calculator to help you find out exactly what your EMI will be. The tool helps you find out how much you have to repay every month in just a few minutes. The steps of how to use this tool are given below:

  • All you need to do is to input the amount you want to borrow, select the interest rate charged by the lender, and the tenure of the loan.
  • You can also select whether or not you intend to prepay parts of your loan. Also, you can type in any processing fees that you have to pay.
  • After this, simply hit “Calculate”. Your EMI will be shown in a few seconds. You will also get the amortisation table for your loan. This table will show you how you have to repay the loan over the tenure you’ve chosen.
  • The table will show you the interest and principal components of each EMI along with how much interest you will pay over the loan period. This helps you find out how much the loan will cost you.

Tips for successful two-wheeler loan application

A few loan applicants have had their applications rejected by lenders. This is not a pleasant feeling, nor is it good for your credit score. We’ve put together a list of tips that can help you apply successfully for a two-wheeler loan. These are as follows:

  • Determine the exact loan amount required: You should assess your needs and calculate exactly how much money you need to buy the bike you want. You should never apply for an amount larger than what you need.
  • Check your eligibility and compare your options: Once you decide how much money you need to borrow, take a look at all the loan options that you are eligible for. This is important. Never apply for a loan for which you don’t qualify. This will automatically get your application rejected. Check your eligibility for a two-wheeler loan and make sure you fulfil all the criteria.
  • Check your credit score: Your credit score is one of the most important factors that determine loan approval. Lenders usually reject applications with low credit ratings. So, if your credit history is poor, look at improving it before applying for the loan.
  • Get a guarantor or co-applicant: If your credit score is not up to the requirement of the lender, see if you can get a guarantor or co-applicant. Having a guarantor or co-applicant who has good credit can help you get the loan you want.
  • Fill your loan application properly: Make sure your application is fully filled with all the details your lender requires. An incomplete application or an application that has wrong information may be rejected.
  • Submit all the necessary documents: While submitting your loan application, make sure you submit all the documents the lender requires as well. If you don’t submit the required papers, your application may be rejected.
  • Try applying with your existing lender: If you already have a good existing relationship with a bank, try taking the loan from them. This good standing may help you get a loan even if you don’t fulfil all their criteria.

Points to remember while applying for a two-wheeler loan

Now that you know how you can successfully apply for a motorbike loan, let’s check out what you need to keep in mind while applying for one. These points can help you find the right loan and avoid paying more than you should.

  • Do your research well: This is the first step before you apply for a motorbike loan. Make sure you do your research well. Compare all the options that various lenders offer you. Compare interest rates, processing fees, repayment options, and other loan terms. This will help you find the best and cheapest option.
  • Choose your tenure wisely: The tenure of your loan will determine how much you have to repay each month. Make sure you can afford your EMI. This means you have to be wise about choosing your tenure. A shorter tenure will help repay the loan faster. But your EMIs will be high. So, choose according to how much you can afford to pay off every month without facing a financial crunch.
  • Choose an affordable interest rate: Your interest rate determines the overall cost of your loan. It also has an impact on your EMI. Choosing a loan with a low rate of interest can help keep your EMIs low. It will also make your loan cheaper.
  • Compare floating rates versus fixed interest rates: Some lenders may offer you both floating interest rates as well as fixed interest rates. Floating rates change as per the changes in the market rates. Fixed rates remain constant irrespective of market rate changes. That said, floating rates are usually lower than fixed rates.
  • Compute your EMIs before applying: When you compare your loan options, make sure you compare the respective EMIs as well. Choose a loan that gives you an affordable EMI with a convenient repayment period.
  • Ask about prepayment fees: If you plan on prepaying or foreclosing your two-wheeler loan at any point, find out the charges for the same. Some lenders may charge you a fee for this while others may not. Prepaying your loan can help you save interest costs.
  • Read the terms and conditions properly: This is also called the fine print. Read your loan offer document thoroughly and go through every single term and condition before you sign it. The fine print may reveal hidden charges and fees that may otherwise never be mentioned. Knowing these terms can help you avoid paying heavy penalties.

Do’s and don’ts of applying for a two-wheeler loan

Let’s now look at the do’s and don’ts of applying for this loan.

Do’s Don’ts
Do your research well before you apply Don’t apply for multiple loans at the same time
Make sure you are eligible for the loan you’re applying for Don’t apply for a loan simply because you get an attractive welcome gift
Compare interest rates and find the best option Don’t forget to fill in the application form properly
Compare processing fees and other charges Don’t sign the loan documents without reading them thoroughly
Evaluate your credit score before you apply Don’t choose an EMI you cannot afford
Submit all the required documents without fail Don’t forget to pay your EMIs on time
Read the offer document carefully before signing it Don’t forget to prepay your loan if you can

How to improve your chances of getting a two-wheeler loan

In this section, we’re going to take a look at how you can improve your chances of getting your loan approved. The loan requirements differ from one lender to another. Sometimes, you may find it hard to get the loan you’re looking for. The following suggestions may help:

  • Clean up your credit: Lenders pay a lot of attention to your credit score when evaluating your loan application. If you have a high score, you stand a better chance of getting the loan you want. You should check your credit report every now and then to see if you’re making any errors. Taking corrective steps will help you clean up your credit.
  • Balance your debt-to-income ratio: Your debt-to-income ratio compares your current debt situation to your current income. It shows how much of your monthly income is currently being used to pay off loans and bills. The lower this ratio is, the better are your chances of getting your loan. So, look at paying off a few loans before applying.
  • Get co-signers if needed: Sometimes, getting a co-applicant for your loan can help you get what you’re looking for. This helps especially if you have a poor credit score. You can also get another individual to guarantee the loan on your behalf. Keep in mind that the co-applicant and the guarantor will be held accountable if you don’t repay the loan on time.
  • Don’t apply for multiple loans: When you apply for multiple loans simultaneously, lenders will realise that you may not take the loan they offer. This will make them reject your application. Keep in mind that multiple rejections can hurt your credit rating.

Two-wheeler loan FAQs

Take a look at some of the most commonly asked questions regarding two-wheeler loans.

1. How can I apply for a two-wheeler loan?

There are different ways of applying for such a loan:

  • Directly applying at the physical branch office of a lender.
  • Applying online.
  • Applying at the time of purchasing the bike (at the showroom).

2. When should I take a loan to buy a bike or scooter?

This depends on how much money you have of your own. If you can finance the entire amount by yourself, don’t take a loan. But if you have only a part of the money, you can apply for a loan for the rest of the bike’s value.

3. Can I get a loan to fund the whole value of the vehicle?

The answer to this depends on the lender from whom you take the loan. Most lenders will offer you a loan for only up to around 80% to 90% of the value of the vehicle. You will have to bring in the rest of the money on your own. That being said, there are a few lenders who offer 100% financing. However, this may come at the cost of additional terms and conditions.

4. What costs will a scooter or bike loan cover?

Most lenders offer loans that cover accessories, insurance, and registration charges for your vehicle. In addition to this, you may also get additional perks if the lender has a tie-up with a particular two-wheeler brand.

5. Should I take two-wheeler insurance when I buy a bike? Is it mandatory?

Yes, insurance is mandatory when you buy a vehicle. The showroom you buy from will not release your vehicle until you pay the insurance as well. This is usually built into the total on-road cost of your bike.

6. Should I choose a floating interest rate or a fixed interest rate?

Sometimes, banks may offer you the choice of a fixed or floating interest rate. A fixed rate remains constant irrespective of market rate changes. A floating rate changes when the market rate changes. People usually prefer taking floating rates because they are lower than fixed rates.

7. What tenure should I choose?

The tenure you choose determines your EMI. A longer tenure will make your EMIs more affordable. But you will also be in debt for a long time. Shorter tenures result in higher EMIs, but you’ll be able to pay off the loan faster.

8. What is two-wheeler loan prepayment? How does prepayment help?

Prepayment is paying an EMI or multiple EMIs together before the amounts are due. Every time you prepay a part of your loan, it helps reduce the outstanding principal. This reduces your interest cost as well. So, prepaying your loan can help you save money.

9. Is there any fee for prepayment?

Some lenders may charge you a fee when you prepay your loan while others may not. Before prepaying your loan, find out what it will cost you. If the costs are covered in the interest you save, then go ahead and prepay your loan.

10. Should I offer collateral when I take a loan to buy a 2-wheeler?

No, you don’t have to offer collateral when you take this loan. The vehicle acts as collateral till you repay the loan in full. This is called hypothecation.

11. What will happen if I am not able to repay my loan on time?

If you don’t pay the EMIs on time, the bank may repossess your vehicle. Since your bike or scooter is hypothecated, the bank has every right to confiscate your vehicle to make good the losses they suffer.

12. Can I sell my bike before I repay the loan?

No, you cannot. Since your bike is under hypothecation, you cannot sell it till you get an NOC from the bank stating that you’ve paid back the loan in full.

13. What should I do after I repay my loan?

Once you pay the final instalment and terminate your loan, you should follow the steps given below:

  • Get the No Objection Certificate (NOC) from the bank.
  • Get Form 35 from your lender and fill it up.
  • Get your trade certificate.
  • Submit your application at your Regional Transport Office (RTO) along with the documents mentioned above and your original Registration Certificate (RC), and copies of your driving license, PUC, insurance, and Aadhaar card.
  • Pay the required fee and follow the other instructions at the RTO.
  • Go and collect your new RC on the given date.

14. Can I get a loan if I’m a student and have no income?

Yes, you may be able to get a loan if you’re a student. In such cases, you can get a co-applicant such as a parent or a close relative to guarantee payment on your behalf. Do keep in mind that not all lenders offer loans to students.

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  • MotoRoyale Ahmednagar Facility Adds New Assembly Line for Mondial HPS 300

    After the introduction of the FB Mondial HPS 300 in November 2018, MotoRoyale has decided to add a new assembly line at its facility in Ahmednagar, Maharashtra, where the bike will be assembled. With a price tag of Rs.3.37 lakh, the motorcycle is the most affordable product offering in the entire range of two-wheelers by MotoRoyale, and is designed as a scrambler-styled offering. The two-wheeler manufacturer has already received around 100 bookings for the FB Mondial HPS 300. While the bike competes against the likes of the BMW G 310 R and the KTM 390 Duke, it is also one of the total 9 motorcycle brands that are managed by Kinetic MotoRoyale in the country.

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    18 December 2018

  • Ducati Planning to Introduce Pre-Owned Motorcycle Business

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    18 December 2018

  • Learn About the Motorcycles Expected to Launch in India in 2019

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    The 2019 Bajaj Dominar is expected to carry a plethora of mechanical and cosmetic upgrades along with an upgrade in the power output. The new Hero XPulse version was unveiled at the 2018 EICMA Motorcycle Show. While the XPulse 200 will be an adventure-ready version, the XPulse 200T is the tourer-friendly model with mechanicals similar to the XPulse. Both the rider-friendly bikes will be launched in 2019 featuring smaller 17-inch wheels and tarmac-friendly MRF tyres. The KTM 390 Adventure is a small-capacity adventure bike that is based on the KTM 390 Duke platform. The Benelli TRK 502 will be a middleweight adventure tourer that is expected to be available in 2 variants - a road-oriented model with cast wheels, and another version with more off-road capability and spoked wheels. The Triumph Scrambler 1200 will be capable of generating more power and torque lower in the revs instead of better top-end acceleration.

    18 December 2018

  • 3 Jawa Motorcycles Being Developed by Mahindra for India

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    29 November 2018

  • Suzuki V-Strom 650XT Priced at Rs.7.46 Lakh, Launched in India

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    28 November 2018

  • Three New Bikes Expected to be Unveiled by Jawa Next Month

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    13 November 2018

  • Kawasaki India launches the 2019 Z650 and Z900

    Kawasaki India is one of the most popular superbike brands in India and the naked sportsbikes from their production line, the Z650 and the Z900 are 2 of the most successful motorcycles in India. Kawasaki India has recently launched the 2019 Z650 and Z900. The Z650 has been priced at R.5.29 lakh and the price tag for the Z900 is Rs.7.68 lakh (both prices, ex-showroom, Delhi).

    The Z650 was launched in 2017 to replace the erstwhile naked street bike, the ER-6N. Both the Z650 and Z900 follow the same Sugomi design concept from Kawasaki which gives the motorcycles a sharper and aggressive look. The 2019 motorcycles come with some cosmetic changes only. No major changes have been implemented in the mechanical front of the bikes. The Z650 is now available in two new colour schemes as well - flat spark black and metallic spark black. The Z900, on the other hand, gets 3 new colour schemes - metallic moondust grey/ebony, pearl flat stardust white/metallic spark black and metallic flat spark black/metallic spark black. The moondust grey/ebony colour scheme will be available in limited numbers, Kawasaki declared.

    12 November 2018

  • 2019 KTM 1290 Super Duke GT and 1290 Super Duke R Unveiled at Intermot

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    27 October 2018

  • Festive launch of special edition Suzuki SP at Rs.1 lakh

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    25 October 2018

  • Three more bikes to be added to the Ducati Scrambler range

    At the INTERMOT motorcycle show, Ducati introduced three bikes to the Scrambler range - the Full Throttle, Desert Sled, and Cafe Racer. These bikes have a revamped headlamp, self-cancelling LED turn indicators, LED DRLs, switchgear that is more ergonomic, and an instrument panel that is fully digital. The bikes will have the traditional 803 cc L-Twin air-cooled engine that generates 73 hp of maximum power and 67 Nm of peak torque. These also have a 6-speed gearbox for transmission purposes. The bikes have hydraulic clutch control and cornering ABS for added safety as well.

    23 October 2018

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

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Two Wheeler Loan Reviews

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  • Shriram City Two Wheeler Loan
    "Excellent Service"
    SHRIRAM CITY UNION FINANCE
    0.5 5.0/5 "Blown Away!"
    I have taken Two wheeler Loan directly through Shriram City Union Finance ,I have got all the required details about the loan process ,I have applied for 1lakh for the tenure of 18 months ,I have not faced any issues so far ,I have got the loan amount on time ,The rate of interest and the processing fee was nominal .
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 19, 2019
  • HDFC Bank
    HDFC Bank Two Wheeler Loan
    "Good"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken HDFC bile loan long back. I was sanctioned with the loan amount of 50 thousand rate of interest was nominal and the service was really good. Verification and documentation was done manually at my residence i have not faced any issue applying loan though HDFC bank.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 19, 2019
  • review Two Wheeler Loan
    "Hidden charges in Bajaj Finance"
    BAJAJ AUTO FINANCE
    0.5 4.0/5 "Great!"
    They are not charging late fee payment and they will give 5 days extra after the due date. I bought my two wheeler by using the Bajaj Finance loan. Since my bike is from Bajaj company, hence i got the loan from them in the last January. Interest rates are quite high.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 16, 2019
  • Tata capital Two Wheeler Loan
    "Good service"
    TATA CAPITAL LIMITED
    0.5 5.0/5 "Blown Away!"
    I have been holding my two wheeler loan with Tata capital long back, the loan amount which they have given to me was sufficient they have given me loan as per the requirement, the rate of interest they have charged to me was nominal,now i have successfully closed this loan.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 15, 2019
  • HDFC Bank Two Wheeler Loan
    "Better Loan"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    4 months before i have purchased my two wheeler loan and i took it from HDFC. When i purchased a Royal Enfield bike, since the interest rate is less i got the loan with them. I'm not sure about interest rate and processing fee. I am paying the EMI of Rs. 8245 for every month for the tenure period for 18 months. I bought the loan amount of Rs. 1.10 lakhs
    Was this review helpful? 1
    , new delhi
    Reviewed on Jul 13, 2019
  • Shriram City Two Wheeler Loan
    "Need to decrease charges"
    SHRIRAM CITY UNION FINANCE
    0.5 1.0/5 "Really Bad"
    I have taken a two wheeler loan in SHRIRAM for more than 8 months.The rate of interest is very high. The loan amount was sufficient for the tenure of 2 years. Last 5 months they have shown for 2 EMIs in a month to pay and there is no proper response from customer end If I ask for a statement they will take probably 2 hours and also not sure whether we will receive or not.
    Was this review helpful? 1
    , pune
    Reviewed on Jul 13, 2019
  • HDFC Bank Two Wheeler Loan
    "Excellent"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have selected HDFC two wheeler loan model of the bike Hero splender cost bike Rs 58,000 which i took on 2013 . Loan amount is sanction Rs 30,000 and down payment which ia have paid Rs 20,000 and EMI Rs 1500, Tenure 3 years . While document submitted to show room there is no delay receive receive disbursal customer service is good.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jul 13, 2019
  • ICICI Two Wheeler Loan
    "Quite Good service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    In 2016, i took the ICICI loan which is a purchase of my bike. I'm not satisfied with their repayment process and when my cheque got bounced they have charged me a huge amount of Rs. 500 being a good client sometimes it happened. I am having account with ICICI hence i have chosen them.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 13, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Interaction"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    HDFC is more comfortable since I am a salary holder, even my father had a vehicle loan hence we have good relationship with the bank. I took the two wheeler loan amount of Rs. 70,000 for the duration of three months, the interest rate was reasonable according to the market.
    Was this review helpful? 1
    , kolkata
    Reviewed on Jul 13, 2019
  • HDFC Bank Two Wheeler Loan
    "Better one"
    HDFC BANK
    0.5 4.0/5 "Great!"
    At that time of my bike purchase no one had a partner to provide the two wheeler loan in my home town with the less interest rate compared to others hence i have chosen the HDFC. Got my loan amount of Rs. 56000 and i paid the loan amount of Rs. 22000 and i have closed the loan already since i chosen the tenure period for 3 years.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Jul 12, 2019
  • ICICI Two Wheeler Loan
    "EXCELLENT"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I am using the two wheeler loan from since from last 18 months, the documentation process was easy and i got the loan within 2-3 days, there was a processing fee. The loan amount given was good also there was a down payment of 25000 rupees. The rate of interest was 3000 rupees per monthly.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jul 12, 2019
  • HDFC Bank Two Wheeler Loan
    "Procedure was good. "
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    When i went to showroom and the i had a few more option and the interest rate and the executive who take care of the loan and he has informed me about the loan details hence i opted the two wheeler loan from HDFC and i made the down payment of 20% and they have sanctioned the loan in 2 days. The explanation given regarding the loan was good and the communication gap was not there.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 11, 2019
  • Shriram City Two Wheeler Loan
    "High on ROI and fees"
    SHRIRAM CITY UNION FINANCE
    0.5 3.0/5 "Satisfactory"
    Shriram city Union finance was good in the process for the two wheeler loan. I got the loan in three days. The paper work was collected on time. The rate of interest is of 13% which is high and there is a one time processing fee which again was extremely high of 5 to 7K for the loan amount of 60K.
    Was this review helpful? 2
    , pune
    Reviewed on Jul 11, 2019
  • L&T Finance Two Wheeler Loan
    "GOOD"
    L&T FINANCE LIMITED
    0.5 4.0/5 "Great!"
    I am using the two wheeler loan from last 2 years with L&T FINANCE LIMITED and the documentation process was easy and i got the loan amount within 35days. The rate of interest was 10% approx. The duration for repaying was 2 years with the loan.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jul 10, 2019
  • review Two Wheeler Loan
    "Good service"
    INDUSIND BANK LTD
    0.5 4.0/5 "Great!"
    I have been holding two wheeler loan with Indusind bank for an while, the loan amount which they have given to me was sufficient, they have given me as per my requirement,they have charged me interest rate that too was nominal, the loan amount they have given to me up to 1,50,000 , i have taken yamaha bike more 5 months to get complete this loan.
    Was this review helpful? 2
    , thane
    Reviewed on Jul 10, 2019
  • review Two Wheeler Loan
    "Need to improve customer service"
    HINDUJA LEYLAND FINANCE LTD
    0.5 1.0/5 "Really Bad"
    I have taken hinduja leyand finance from two wheeler model bike activa 5 g cost bike Rs 65, 000, They sanction loan Rs 50,000 down payment Rs 20,000. EMI 2800.while documents submitted to showroom . Customer service is not good and responsive
    Was this review helpful? 1
    , pune
    Reviewed on Jul 10, 2019
  • HDFC Bank Two Wheeler Loan
    "Good"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken two wheeler loan in HDFC bank for more than a year. The amount was sufficient of 48 thousands for the tenure of 2 years. The rate of interest and the processing fee are nominal, I received a loan amount on time. The process was smooth and good.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jul 10, 2019
  • review Two Wheeler Loan
    "Excellent service"
    INDUSIND BANK LTD
    0.5 5.0/5 "Blown Away!"
    I had previously holding two wheeler loan with Indusind bank , the loan amount was sufficient they have given me as per the requirement, the rate of interest they have charged me was nominal, they have charged me that time was up to 10.5 % approximately, now i have successfully closed this loan.
    Was this review helpful? 1
    , aurangabad
    Reviewed on Jul 10, 2019
  • ICICI Two Wheeler Loan
    "Good"
    ICICI BANK
    0.5 4.0/5 "Great!"
    I have selected two wheeler bike Baja platinum cost bike Rs 48,000 down payment Rs 15000, EMI Rs 1800. while document submitted showroom they given clear information about loan process ,Tenure 24 months .Customer service is good and responsive
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 10, 2019
  • IOB Two Wheeler Loan
    "Need to decrease charges"
    INDIAN OVERSEAS BANK
    0.5 3.0/5 "Satisfactory"
    I have taken two wheeler loan in INDIAN OVERSEAS BANK for one year before which was applied directly to bank. The loan amount was low which was given from bank for the duration of 2 years. The rate of interest is 9% and the processing fee are high. Last 2 months before they have done auto debited in my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jul 09, 2019
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