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TWO WHEELER LOAN

  • Overview
  • Eligibility & Documentation
  • Rates & Charges
  • Calculators
  • EMI Options
  • FAQs
  • Know More
    • 1

    ABOUT TWO WHEELER LOANS

    Nothing matches the thrill of owning a brand new bike. We understand this, and as such, Tata Capital offers two wheeler loans for you to own a bike of your choice. We offer up to 100% funding on your new motorcycle or scooter. You can now get on the road faster and apply for your motorcycle loan with Tata Capital Two Wheeler Loans. 

     

    Disclaimer: Two Wheeler Loans are brought to you by Tata Capital Financial Services Limited and are at its sole discretion. Terms and Conditions apply.

    Know more about our offerings

    Key Features

    Loan Amount

    ₹25,000 - ₹3,00,000

    Loan Tenure

    6 - 60 months

    Interest rate starting at

    10.75%

    Zero down payment bike loan 

    View our Flexi EMI Options

    Advantages

    Finance up to 100% of the Cost

    You can avail a loan up to 100% of the two wheeler actual cost for bikes, up to ₹1,50,000.

    Longer Loan Tenure

    You can avail a loan tenure up to 5 years.

    Quick and Easy Processing

    With quick processing and minimal paperwork, your two wheeler loan will be processed in no time.

    Finance up to 100% of the Cost

    You can avail a loan up to 100% of the two wheeler actual cost for bikes, up to ₹1,50,000.

    Longer Loan Tenure

    You can avail a loan tenure up to 5 years.

    Quick and Easy Processing

    With quick processing and minimal paperwork, your two wheeler loan will be processed in no time.

    Know More Know More

    What is a Two Wheeler Loan?

    A two wheeler loan is an easy and hassle-free way to finance the purchase of a two wheeler (bike or scooty) of your choice. The loan amount along with the applicable interest amount can be repaid in the form of Equal Monthly Instalments or EMIs over a fixed loan tenure. Bike loans are available for both salaried and self-employed individuals. 

    Why Should You Take a Two Wheeler Loan?

    Taking bike finance gives you the following benefits –

    • Safety first – The COVID-19 pandemic has made it mandatory to avoid crowded places and public transportation tops the list. Your new ride purchased via a two wheeler loan will offer you a safe driving experience during such times as these.

    • Sense of independence – By having a vehicle of your own, you need not stay dependent on public transport or anybody else for your commuting needs, something which a bike loan provides. This is especially useful in case of emergencies.

    • No public transport hassles – You can forget about starting your day with long queues to catch a bus, metro, local train, or auto rickshaw. Drive as and when you please without such hassles.

    • No strain on personal funds – Buying a two wheeler is a substantial investment. Instead of draining your funds altogether, you can take a loan and pay back in easy Equal Monthly Instalments over a comfortable tenure.

    • Zero down payment – Get finance for up to 100% of the cost of your desired two wheeler up to a maximum of Rs. 1.5 lakhs.

    When Should You Take a Two Wheeler Loan?

    You can take a two wheeler loan for the following situations –

    • Personal use – A personal two wheeler will spare you the time-consuming modes of public transport. From everyday grocery shopping to emergencies like buying urgent medicines, you can do them all without having to depend upon anybody.

    • Business use – If your business operations are such that you may have need of a two wheeler to carry out small business deliveries, don’t rely on third-party help for the same – take a bike loan and purchase a two wheeler. Plus, on taking bike finance for commercial purposes, you get tax exemptions on the interest and the depreciation cost of the vehicle.

    • Safety use – Ever since the novel coronavirus, traveling safe has taken on a whole new meaning. Owning a Two wheeler will help you avoid crowded public transportation and travel safe.

    Steps to Take a Two Wheeler Loan

    The following are the steps to get two wheeler loan –

    • Simple Online Application – Apply through our website by filling in a two wheeler loan application and submitting it online.

    • Minimal Documentation – Furnish the required two wheeler loan documents based on whether you’re applying for a standard or a super bike loan.

    • Verification – We will verify and validate your documents and credit report.

    • Approval – If there are no discrepancies found, your bike loan will be sanctioned and the loan principal will be disbursed to your bike dealer. 

    Two Wheeler Loan Eligibility

    The two wheeler loan eligibility criteria for salaried and self-employed individuals is as follows –

    • Age – Must be between 21 and 60 years

    • Residential Stability – Minimum of one year but it is mandatory for the residence to be self-owned in case of a super bike loan

    • Employment Stability – At least for one year in case of a standard bike loan and at least for two years in case of a super bike loan

    • Income – not specified in case of a standard bike loan whereas in case of a super bike loan, the income should be at least Rs. 15 lakhs per annum for salaried individuals and at least Rs. 5 lakhs per month for self-employed individuals

    What is Zero Down payment Bike Loan?

    Zero down payment bike loan is a loan wherein the lender will finance the entire cost of the two wheeler you wish to purchase, not requiring you to pay anything upfront. Tata Capital offers 100% of the value of the two wheeler up to a maximum of Rs. 1.5 lakhs.

    Documents Required for Two Wheeler Loan

    Be it a salaried or a self-employed individual, the following are the documents required for bike loan –

    • Documents for ID Proof – PAN Card/Voter’s ID/Passport/Driving License/Aadhaar Card along with recent passport size photographs

    • Documents for Address Proof – Electricity Bill/Ration Card/Passport

    • Documents for Income Proof (if required) – Salaried individuals need to furnish last three months’ Salary Slips/Form 16/Last three months’ Bank Statements reflecting salary credits/ Salary Certificate and self-employed individuals need to furnish latest Income Tax Returns (ITR)

    • Residence Ownership Proof – mandatory in case of super bike loan

    • Bank Statements – last three months in case of standard two wheeler loan and last six months in case of super bike loan

    Two Wheeler Loan Interest Rates and Charges

    The most basic charge applicable on a two wheeler loan is that of the interest. The rate at which the interest is charged on the principal amount of the bike loan for a specified tenure is known as the bike loan interest rate. This rate is expressed as a percentage.

    Besides the interest rate, other two wheeler loan fees and charges are also involved.

    Two Wheeler Loan EMI Calculator

    A bike loan EMI calculator is a free and useful online tool using which you can calculate the amount you need to pay every month towards the repayment of your two wheeler loan + the applicable interest amount. Using this EMI calculator, you can easily plan out your monthly EMIs so as to avoid any defaults.

    What are the EMI Options Available on Two Wheeler Loan?

    To help you pay your bike loan EMI with ease, the following repayment plans are available –

    • Standard EMI plan – wherein the bike EMI value remains unchanged month after month. This plan is suitable for those with a fixed monthly income which is unlikely to change in the future.

    • Flexi or Structured EMI plan – wherein the two wheeler loan EMI can be customised – generally, the EMI starts out low and gradually increases in the latter half of the tenure. This plan is ideal for them who expect a rise in income in the future. 

    PAYMENT OPTIONS

    PAY ONLINE

    Pay your bike loan EMI using our website or your mobile device, anytime and from anywhere.

    DROP A CHEQUE

    Select a nearby branch and drop a cheque at your convenience. 

    6 Reasons to Choose Us for Taking a Two Wheeler Loan 

    Minimum paperwork

    No heavy paperwork is required to avail bike finance with us. Because of our website, you can apply for two wheeler loan online. The only paperwork that is needed is the application form and all of the other loan-related activities, from document submission to loan disbursal, can be carried out through our digital platform

    Repayment

    You can decide how you want to repay your pre-owned car loan according to your convenience. Choose from our host of options like ECS, post-dated cheques, and online payment.  

    Competitive interest rates

    We offer the most competitive two wheeler loan interest rates in the market. Customise your two wheeler loan as per your convenience. 

    Quick and easy online approval

    You can receive instant online loan approval from us once we receive all documentation and details from your end.

    Minimum documents

    You can receive instant online loan approval from us once we receive all documentation and details from your end.

    Zero down payment bike loan

    We are willing to bear 100% of your desired bike’s value up to a maximum cost of Rs. 1.5 lakhs.

    Customer Speak

    Detailed FAQs

     

    To get a two wheeler loan, follow the steps as given below –

     

    • First, check your two wheeler loan eligibility and submit the application form online for a quick and hassle-free procedure.

    • Visit the dealership showroom and pick a bike or two wheeler of your choice.

    • Submit the relevant two wheeler loan documents required.

    • Your documents and credit report will be verified for loan approval.

    • Post-verification, if there are no discrepancies, your loan will be sanctioned, and the amount will be disbursed to your dealer. 

    The following are the benefits of two wheeler loan –

    • Avoiding public transport amidst COVID-19 – Abstain from taking highly crowded public transportation and travel safe with a personal two wheeler.

    • Easy way to finance dream ride – In a few effortless steps, you can bring home your dream two wheeler.

    • Meeting all personal and business commuting needs – You need not be dependent upon anyone for your commuting needs, especially in times of emergencies.

    • Keeping aside cash for emergencies – Keep your funds undisturbed for emergency situations since you can pay back the loan in easy monthly instalments.

    • Tax claims and deductions – Claim tax benefits on the interest payable and depreciation cost of the vehicle if you’re taking a two wheeler loan for business purposes. 

    We offer bike finance for a maximum value of Rs. 3 lakhs. Depending upon your two wheeler loan eligibility and whether or not you wish to apply for a standard or super bike loan, you get to choose from a wide principal bracket (Rs. 25,000 to Rs. 3 lakhs) Also; you can calculate your bike loan EMI using two wheeler loan EMI calculator.

    You can avail two wheeler loan for a maximum tenure of 60 months or 5 years. You get a wide bike loan tenure bracket; choose from flexible two wheeler loan tenure, ranging from as short as 6 months to as long as 60 months. 

    The following are the two wheeler loan eligibility criteria –

    • Age – must be between 21 and 60

    • Residential stability – at least one year, and in case of self-employed individuals, the residence must be self-owned

    • Work stability – at least one year for salaried individuals and at least two years for self-employed individuals 

    The following are the documents required for two wheeler loan –

    • ID Proofs – Passport/Driving License/PAN Card/Voter’s ID/Aadhaar Card along with recent passport size photographs

    • Residential Proofs – Passport/Driving License/Utility Bill/Voter’s ID

    • Income Proofs (if required) – Previous three months’ Salary Slips/Form 16/Last three months’ Bank Statements reflecting salary credits/Past three years’ Income Tax Returns (ITR)/Salary Certificate in case of salaried individuals

    • Bank Statements – of the last three months in case of standard bike loan and last six months in case of super bike loan.

    • Residence Ownership Proof – must be in the name of applicant, their parents, or spouse in case of a standard bike loan and must be mandatorily self-owned in case of super bike loan

    Check your eligibility and ensure that you submit the right documents needed for two wheeler loan. 

    The collateral for a loan refers to an asset that is pledged as security with the lender. In case a borrower fails to repay the loan, the asset kept as collateral will be seized. However, you do not need to keep any additional asset as collateral when you avail bike finance from Tata Capital. The bike you purchase will itself act as the security for your two wheeler loan. 

    Yes, purchasing a super bike is no longer a far-fetched dream with lenders offering super bike loan to fund the expenses. You can receive bike finance for 95% to even 100% of the super bike’s value. 

    Yes, you can avail a zero down payment two wheeler loan with Tata Capital. Meaning, you will not have to pay any down payment or upfront costs; 100% of your desired bike’s value will be covered by your bike loan.  

    WHY CHOOSE US

    CUSTOMIZED PRODUCTS
    MINIMUM DOCUMENTATION
    EASY APPLICATION PROCESS
    STRONG AFTER SALES SERVICE