Two Wheeler Loan

Get Loan up to 100% of Bike Cost
Quick & Easy Online Approval
ROI starting from 12.5% p.a.*

What is a Two Wheeler Loan?

Found your dream bike but it doesn't fit your budget? A Two Wheeler Loan is just what you need. It helps you bring your dream motorcycle or scooter home, and repay the amount in easy EMIs as per your convenience. The tenure, interest rates, and other terms of the two wheeler vehicle loan depend on your repayment capacity.

In these unprecedented times, using public transports to commute can be risky. Owning your own two wheeler will give you the freedom to commute safely and comfortably. So, don't let a lack of funds stop you from getting what you want. With a two wheeler vehicle loan, you can secure anywhere between 80% to 100% of the bike cost. From commuter bikes to premium motorcycles, Tata Capital helps you finance bike loan for a variety of two wheelers conveniently. What's more? At Tata Capital, we assure you of minimal paperwork and quick processing.

Disclaimer: Two Wheeler Loans are at the sole discretion of Tata Capital Limited (TCL).

Loan Amount

₹25,000 - ₹5,00,000

Loan tenure

6 - 60 months

Interest rate starting @

12.5% p.a

Features of Two Wheeler Finance

Every loan comes with its own set of features that make it attractive for consumers, and the same applies to two-wheeler loans as well. Tata Capital has several features that make two-wheeler finance loans quite competitive in the market. Let's take a look at them in-depth now.

Easy application process

There is very little paperwork involved here, as it only involves filling out your application form and submitting a few basic documents. We have even digitised the entire process, so you don't even need to visit our branches to submit the application form.

Competitive interest rates

The lower the interest rate, the more affordable the EMIs will be in a longer tenure, and repayment will be easier. We make this a reality by offering competitive interest rates that are the best in the industry. This will allow you to fulfil your pressing financial needs by even availing of a higher amount as interest rates are lower than usual.

Repayment options

When it comes to repaying your loans, flexibility has to be a priority. And Tata Capital extends this flexibility by offering you multiple convenient options for EMI payments. We have options such as e-mandate, post-dated cheques and online to make loan repayment easier for you.

Fast approval

Tata Capital makes this experience a fruitful one for you as we don't have long waiting times. Once you meet the eligibility with few basic details, your loan is approved within few minutes. Submit the documents for verification and your loan application will be disbursed within the same day.

Low down payment

This is another useful feature, especially when you don't have the funds to make a down payment. Tata Capital will finance 100% of the bike cost you choose for a maximum of up to Rs. 2.85 lakhs.

Benefits of getting a Two-wheeler Loan

Finance up to 100% of the Cost

Avail of up to 100% of the Two-Wheeler cost (Subject to conditions).

Longer Loan Tenure

Avail of a loan for up to 5 years and repay the sum at your convenience.

Quick and Easy Processing

Get your two-wheeler loan in no time with our quick processing and minimal paperwork.

Personal Safety

Commute with your own vehicle and avoid the risk of coronavirus.

Two Wheeler Loan Eligibility Criteria

Salaried Individuals

Age – You must be between 21 to 60 years old at loan maturity.
Residential stability – You must have at least one year of residential stability to apply for a two wheeler loan.
Employment stability – You must have a minimum of one year of employment stability for a standard bike loan.

Self-Employed Individuals

Age – You must be between 21 to 65 years old at loan maturity.
Residential stability – You must have at least one year of residential stability to apply.
Employment stability – You must have a minimum of one year of employment stability for a standard bike loan.

Documents Required for Bike Loan

Individual

You must submit the required documents to prove your 2-wheeler loan eligibility. Here is the bike loan documents list-

ID Proof: Passport/Driving License/Aadhaar Card/Voter’s ID
Address Proof: Aadhar Card, Passport, Voter’s ID.

Standard Bikes

You must produce these documents to avail of a loan. Here is the bike loan documents list-

ID Proof: Passport/Driving License/Aadhaar Card/Voter’s ID
Address Proof: Aadhar Card, Passport, Voter’s ID.

Keep these loan on bike documents ready in advance for a hassle-free process.

Co-applicant for Bike Loan

Co-applicant required if applicant age is 18 to 20 years.
Co-applicant can also be taken for age, registration, residence/Office, ownership proof or Income purposes.

Why Choose Tata Capital's Two Wheeler Finance?

Minimum paperwork

Say goodbye to lengthy loan paperwork. With Tata Capital, the only paperwork we require is the application form. You can carry out all other loan-related activities, from document submission to loan disbursal through our digital platform.

Repayment

You can decide on a repayment plan for your loan at your convenience. Choose from our host of options like E-mandate, post-dated cheques, and online two wheeler loan repayment.  

Competitive interest rates

We assure you of the best Two Wheeler Loan interest rates in the industry. With Tata Capital, you can also customise your loan depending on your convenience. 

Minimum documents

Avail an instant 2 wheeler loan from Tata Capital with minimal documentation.

Low down payment

We will finance 100% of your desired bike’s value (Subject to conditions).

Attractive interest rates

The interest rates that we offer are some of the best in the industry. This can be a great advantage, especially if you are planning to save extra money or go for a more expensive bike, as it can make your EMI payments much more affordable, depending on the tenure.

Easy-to-avail money

Our process to avail of a 2 wheeler loan is extremely simple. This means that there isn't any long procedure to get the loan amount. Once you've checked your eligibility, you simply submit the loan application, along with the other proofs and your application gets approved in no time.

High loan amounts

Although your choice of a two-wheeler might be well within your budget, Tata Capital offers extra room to make easy decisions. We offer loan amounts up to a maximum of Rs. 5 lakhs, so you can buy your dream two-wheeler without any problems.

Two Wheeler Loan FAQs

1. How to get a loan for a two wheeler?
To get an instant two wheeler loan from Tata Capital, just follow these simple steps–

Visit our nearest dealership showroom and select the Two-wheeler of your choice.
For financing meet our Tata capital representative at dealership to check your eligibility for loan on our online portal.
Once approved, submit the required Two-wheeler loan documents.
We will verify your documents and credit report for approval.
Upon successful verification, we will sanction your Two-wheeler finance and disburse the amount to your dealer.

2. What is the maximum amount for two wheeler loan available?
With Tata Capital, you can avail two wheeler finance for up to Rs. 5 lakhs. Depending on your two wheeler loan eligibility, you can choose from a wide principal bracket (Rs. 25k to Rs. 2.85 lakhs). You can also calculate your bike loan details for EMI using the two wheeler loan EMI calculator.

3. What are the minimum and maximum tenures of a two wheeler Loan?
You can avail of a two wheeler loan ranging from 6 months to 60 months depending upon vehicle model.

4. What is Flat Rate of Interest & IRR Rate of Interest?
The IRR and Flat Interest Rates are two different types of methods used by NBFCs and Banks to calculate interest. A flat rate of 10.75% will be equal to IRR ROI of 19.50% approx. Loan’s rate of interest is calculated on a flat rate basis and IRR (Internal Rate of Return) is calculated on a reducing rate basis.

5. When is the 2 wheeler loan’s first EMI due date?
If your loan was disbursed on or before 15th of a month then your loan’s 1st EMI will be on the 4th of next month. And if your loan was disbursed after 15th of a month then your loan’s 1st EMI will be on 4th of next-to-next month.

6. Do you need collateral for a two wheeler loan?
No, you do not need to pledge any additional asset as collateral when you avail of bike finance from Tata Capital. The bike you purchase will act as the security.

7. How does a credit report impact the 2 wheeler finance approval process?
Credit report provides details on your financial status and your ability to repay a Loan. This helps us evaluate your financial history. A good credit score will ensure faster approval of loan at better rates.

8. How long will it take for my bike finance approval?
Once we have all your documents with us, it generally takes about 20 minutes to calculate the eligibility for the Two-Wheeler Loan amount to be approved.

9. What are the different types of charges that can be levied in a two-wheeler loan?
Processing Fee

Up to 4% + GST on total loan amount

Documentation Charge

Up to Rs 1999 + GST wherever applicable

PDD - Post disbursal document charges

Rs 500 + GST

10. How and when will I receive the NOC after closing my two-wheeler loan?
NOC will be dispatched to your registered Address within 5 working days from the date your loan closure.

In case you need us to send the NOC on any other address or at your nearest branch, you can contact us or visit the branch.

Your CIBIL score will automatically get updated after a month of your loan closure

11. How much CIBIL score is good for a bike loan?
To be eligible for the bike loan, having a credit score of 750 or above is preferable. The higher your credit score, the higher your chances of getting your loan application approved.

12. Can a salaried person get a two-wheeler loan?
Yes, a salaried person is eligible for two-wheeler finance. To avail of Tata Capital’s 2 wheeler loan benefits, you need to meet the following eligibility criteria:

1. Minimum one year of residential stability.

2. Minimum one year of employment stability.

3. Age requirement: 21 to 60 years.

13. An EMI calculator gives you instant and accurate estimates.

All you need to do is enter your 2 wheeler loan amount, interest rate, and tenure in the bike finance EMI calculator on our app to check your projected EMIs and accumulated interest throughout your loan tenure. This will help you plan your monthly budget in advance to avoid any repayment defaults.

14. What is the Bike Finance EMI Plan?
You can easily repay your bike finance EMI with our Standard EMI plan. Your EMI value will remain the same every month. This will help you avoid any confusion and know exactly how much amount you need to pay month after month.

15. How to reduce the Interest Rate on your Two-Wheeler Loan?
To reduce the interest on your two wheeler loan, you must-

Maintain a good credit score.

Make a higher down payment.

Pay EMIs on time to build a strong repayment history.

Choose a shorter loan tenure.

16. Can I get 100% funding for Buying a Two wheeler?
At Tata Capital, we offer loans covering 80% to 100% of the bike’s cost, depending on your eligibility. We provide bike loans upto Rs. 5 lakh, making it easier to buy your bike with little or no upfront payment.

17. Do I need a guarantor for two wheeler finance?
If you are between 21 and 65 years old, you don’t typically need a co-applicant. However, applicants aged 18 to 20 must have a co-applicant to be eligible for the loan.

18. Do I have the option to pre-pay the entire loan amount?
You can prepay your two-wheeler loan. However, some lenders may charge a prepayment fee based on the terms of the loan. It’s best to check the prepayment charges and policies before making an early payment.

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