Features of a two-wheeler loan
Avail of a loan starting from Rs. 35,000 up to Rs. 21 lakh and repay in affordable EMIs.
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Up to 100% funding of the on-road price
Existing customers can get up to 100% financing of the on-road price.
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Get up to 6 years to repay your loan
Choose a flexible repayment tenure ranging from 12 months to 72 months.
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Quick approvals
New customers can get instant approvals.
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No income proof required
You can avail of a loan without submitting an income proof.
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Find a store near you
Shop for the latest products, pay your bills, and more at a partner store near you.
Frequently asked questions
A two-wheeler loan is a financing option that lets you buy a scooter or a motorcycle and repay the borrowed amount in EMIs. Bajaj Finance offers a loan of up to Rs. 21 lakh.
We do not require a minimum credit score but any score below 720 may lead to a lower loan amount approval.
Bajaj Finance offers flexible repayment tenures ranging from 12 months to 72 months.
You can apply for a two-wheeler loan in just a few easy steps:
- Fill out the online form or reach out to a representative at a two-wheeler partner store
- After a quick eligibility check, get instant approval without any field investigations
- Pick the loan amount, EMI amount and repayment tenure according to your choice
The rate of interest charged by Bajaj Finance ranges up to 35% per annum depending on the applicant’s profile and the tenure chosen.
The minimum Age is 18 years and the maximum Age is 65 years at loan application for Individual applicant/ Co-applicant.
Below are the fees and charges that apply to two-wheeler loans:
- Rate of interest: Up to 35% per annum.
- Processing fee: Up to 12.95% of the loan amount (inclusive of applicable taxes).
- Documentation and hypothecation charges: Up to Rs. 2,500/- (inclusive of applicable taxes) collected upfront.
- Stamp duty (as per respective state): Payable as per state laws and collected upfront.
- Prepayment charges:
Full prepayment - Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
Part-prepayment - Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.
*Full/part-prepayment will be processed post clearance of the first EMI. - Bounce charge: In case of default of repayment instrument, Rs. 531/- per bounce will be levied.
- Penal charge: Delay in payment of instalment(s) shall attract penal charge of Rs. 6 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
- Instalment default charge: Rs. 450/- per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered.
- Loan enhancement fee: Rs. 117/- (inclusive of applicable taxes) for temporary increase in EMI card limit for the loan transaction. Same will be charged only for increase in limit in excess of Rs. 999/- to be collected along with first instalment.
- Legal, repossession and incidental charges: Rs. 3,540/- (inclusive of applicable taxes).
- Stockyard charges: Rs. 59/- per day up to 60 days (inclusive of applicable taxes).
- Broken Period Interest/Pre-EMI Interest: Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s) which is (are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by adding to the first instalment amount.
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed. - NOC KIT: NA
- Fees for delay in RC hypothecation: Rs. 1500/- (inclusive of applicable charges).
- Cash collection handling charges: Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
- Cash deposit charges: Customers will incur a cash deposition charge of Rs. 50 (inclusive of applicable taxes) when making cash payments at our branch offices.
- PG facility charges: Rs. 11 (inclusive of applicable taxes) will be charged for utilising the payment gateway to make part or full payments towards the loan through digital properties.
*This is a one-time charge levied if there is delay in receiving the RC beyond 120 days post disbursement.
