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Vijya Bank Two Wheeler Loan

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Two Wheeler Loan
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With a network of 1701 branches and 1458 ATMs all across the country, Vijaya Bank has established itself as one of India's leading banks. The bank offers a range of technologically advanced products such as Mobile Banking, ATMs and loans for all purposes among others.

The two wheeler loan is an excellent aid for customers to finance either new or second hand bikes (not more than five years old) with flexible terms.

Vijaya Bank Two Wheeler Loan Features & Benefits

Vijaya Bank aims at making a two wheeler affordable for the common man. You can look forward to having 85% of the cost/invoice financed by the bank if you are looking at a new vehicle. If you prefer a used vehicle (not more than 5 years old), you can get up to 70% of the market value financed by the bank.

  • You can get up to 100% of the cost/invoice financed for a new vehicle if you are a salaried applicant and if the employer provides the salary mandate, as well as the salary is remitted to one of the Vijaya Bank's branches. Another way you can get up to 100% of the cost/invoice financed for a new vehicle is if you provide mortgage of property as security to existing housing loan.
  • This means that your contribution will be 15% for new bikes or 30% of the cost/value for used bikes.
  • The maximum repayment period that you can take is 84 months.

Also Read: Two Wheeler Insurance.

Vijaya Bank Two Wheeler Loan Eligibility & Documentation

Eligibility:

  • Applicants must be aged between 21 and 70 years to be eligible for the two wheeler loan.
  • Applicant must fall into any of these categories:
    1. Permanent employee of State/Central Govt., private company, public/joint sector undertaking or a reputed company.
    2. Pensioners who draw their pension through Vijaya bank.
    3. Professionals/Self Employed persons who have independent income.

Documents required:

  • 2 passport size photos.
  • Identity Proof.
  • Proof of Residence Address.
  • Statement of account of the applicant/co-applicant for the past one year from their present Bankers.
  • If applicant is a salaried person, he/she must provide the last three months' salary slips.
  • If applicant is a salaried/professional/businessmen/self-employed applicant, he/she must provide the latest IT return for 2 years.

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Vijaya Bank Bike Loan Interest Rates

The interest rate that you will be expected of you for the two wheeler loan is Base Rate + 0.40 = 10.05% p.a. (floating).

Vijaya Bank 2 Wheeler Loan FAQs

  1. What are the criteria I must fulfill in order to get 100% of the vehicle's cost/invoice financed by the bank?
  2. You can get 100% of the cost/invoice financed only if you are applying for a new bike. You must be a salaried applicant and the employer must provide the salary mandate. Also, the applicant's salary should be remitted to one of the Vijaya Bank's branches.

    Alternatively, if the applicant provides mortgage of property secured to existing housing loan as continuing security, he/ she will be able to get 100% of the cost/invoice financed by the bank.

  3. Where can I find more information about this loan?
  4. You could either call the toll free no 1800 425 5885 or you could walk into the nearest Vijaya Bank branch to get more information.

  5. How much time can I take to repay the full amount?
  6. You can take a maximum of 84 months for full repayment.

  7. Can I purchase a used bike with the two wheeler loan?
  8. Yes, you can purchase either a new or used bike with the Vijaya two wheeler bike loan. However, if you are looking for a used bike, it should not be more than five years old.

  9. What are the documents required for applying for this loan?

    You will need the following documents to apply:

    • 2 passport-size photos.
    • Identity Proof.
    • Proof of Residence Address
    • Either the applicant or co-applicant's Statement of Account from their present Bankers for the past one year.
    • In case the applicant is a salaried person, he/she will need to provide the salary slips for the last 3 months.
    • The applicant's latest IT returns for 2 years for salaried/ self-employed/ professional/businessmen.
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Customer Reviews

Page 1 of 1
  • Vijaya Bank Two Wheeler Loan
    "Good"
    VIJAYA BANK
    0.5 5.0/5 "Blown Away!"
    It was a good experience by taken a two wheeler loan in VIJAYA bank for 3 years before, which was applied directly to bank.They have sanctioned the loan on time with sufficient amount for the tenure period of 4 years. The rate of interest and fee are nominal. I have closed the loan.
    Was this review helpful? 3
    , new delhi
    Reviewed on Jul 31, 2019
  • Vijaya Bank
    Vijaya Bank Two Wheeler Loan
    "Best service"
    VIJAYA BANK
    0.5 5.0/5 "Blown Away!"
    I have been holding my two wheeler loan with Vijaya bank from long time, the loan amount which they have given to me was sufficient, they have given me as per my requirement up to 85,000 which was okay for me, they have charged me less rate of interest as per the market rate.Still this loan is running.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jul 03, 2019
  • Vijaya Bank Two Wheeler Loan
    "Good service"
    VIJAYA BANK
    0.5 4.0/5 "Great!"
    It was a good experience with Vijaya bank for two wheeler loan,i have took loan in the year 2002 , the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is for 2 years.
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 30, 2019
  • Vijaya Bank Two Wheeler Loan
    "Good service"
    VIJAYA BANK
    0.5 4.0/5 "Great!"
    It was a good experience with Vijaya bank for two wheeler loan, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is for 5 years.
    Was this review helpful? 2
    , pune
    Reviewed on Feb 20, 2019
  • Vijaya Bank Two Wheeler Loan
    "Good service"
    VIJAYA BANK
    0.5 4.0/5 "Great!"
    I have taken a two wheeler loan with Vijaya bank and my experience was good. The loan amount was for Rs 70000 with nominal interest rate when compared to other banks. I am not aware of the tenure period of this loan. The process was smooth and i received my loan amount on time. Customer service was good and they followed up on time.
    Was this review helpful? 3
    , bangalore
    Reviewed on Mar 24, 2018
  • Vijaya Bank Two Wheeler Loan
    "GOOD"
    VIJAYA BANK
    0.5 4.0/5 "Great!"
    I took this loan form VIJAYA Bank in the past during the year 2012 . It was 2 wheeler loan i took and i received a full approval for the amount i asked for . The amount got disbursed in 15 working days . The rate of interest was 6% and the processing fee was 700 rs they charged . The bank provided me a option of pre closure . It was a good experience that I received form the bank side .
    Was this review helpful? 3
    , chennai
    Reviewed on Nov 18, 2017
  • Vijaya Bank Two Wheeler Loan
    "Good Service"
    VIJAYA BANK
    0.5 4.0/5 "Great!"
    There is no lacking on the service part of Vijaya bank. The loan amount was 2 laksh and the rate of interest they have provided is10.25% which was ok, and the good part is that they did not charge any processing fee or any documentation charges. EMI is around 4290 and it is for five years and the process is still on and it is really good,
    Was this review helpful? 4
    , kalyan
    Reviewed on Jun 06, 2017
  • Vijaya Bank Two Wheeler Loan
    "Excellent service"
    VIJAYA BANK
    0.5 5.0/5 "Blown Away!"
    I had two wheeler from Vijaya bank they process my bike loan within a week. I had taken the amount of Rs.50,000 to purchase fashion bike then they sanctioned my loan and I preclosured my bike loan without paying any extra charges. I liked the response which they gave for my bike loan.
    Was this review helpful? 8
    , coimbatore
    Reviewed on May 25, 2017
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