Compare lenders and their terms and get a two-wheeler loan online on Bajaj Markets. Get up to 100% funding with a flexible repayment tenure of up to 60 months. Additionally, secure
✓ Interest Rates Starting @ 0.99% p.a. ✓ Up to 100% Financing ✓ Repayment Tenure of up to 5 Years
A two-wheeler loan provides financial assistance to purchase a bike or scooter without the need for a full upfront payment. The bike loans available on Bajaj Markets come with flexible repayment options, competitive interest rates, and a hassle-free application process.
This makes it easier for you to own your dream scooter or bike without straining your finances.
Our Partners |
Maximum Loan Amount |
Minimum Interest Rates |
Maximum Loan Tenure |
Processing Fees |
Bajaj Auto Credit Ltd |
LTV - 98% |
6.65% |
60 months |
3% |
L&T Finance |
LTV - 100% |
6.99% |
48 months |
5% |
Muthoot Capital |
₹3 Lakhs |
0.99% |
48 months |
4% |
Disclaimer: The above-mentioned details are subject to change at the lender’s discretion.
It is important to thoroughly evaluate the bike loan interest rate before you choose a lender. The lower the interest rate, the lower your EMIs will be. Check the interest rates charged on two-wheeler finance available on Bajaj Markets and apply now.
Before applying for bike finance, you need to check your monthly bike EMIs for various loan amounts and interest rates. Use the calculator component now to review your two-wheeler bike EMIs based on the applicable interest rates and selected tenure.
Features and Benefits of Two-wheeler Loan
Here are some advantages of applying for 2-wheeler finance online on Bajaj Markets:
High LTV Ratio
You can purchase your bike without making any upfront payment. This includes the cost of RTO registration, road tax, insurance, and so on. This is because the loan-to-value (LTV) ratio offered to you c Read Morean go up to 100%. Read Less
Competitive Interest Rates
Apply for a two-wheeler loan online on Bajaj Markets and choose from offers provided by various lenders across India. This enables you to benefit from some of the lowest interest rates, starting from Read More just 0.99% p.a. Read Less
Low Foreclosure Charges
You can foreclose your personal bike loan ahead of maturity for a nominal fee of up to 4% of the loan amount. Note that you will only be charged if you choose to do so before the 12th EMI. You can also Read More opt for part-payment. Read Less
Pre-approved Offers
On Bajaj Markets, you will also get to choose from many customised pre-approved two-wheeler loan offers. That way, you will be able to compare them and then choose the right option for you.
Easy Repayment Options
If you do not have a bank account, you can also repay your 2-wheeler loan in cash. This is also a feature that you can get as a user of Bajaj Markets.
Flexible Repayment Tenure
You get a flexible repayment tenure ranging up to 60 months. This feature helps you to repay your loan in a time period that best suits your financial plan.
Minimal Documentation
For a two-wheeler loan, you need to provide only essential KYC documents, such as address, income, and ID proof. The minimal online documentation process ensures that the loan sanctioning for your bike Read More is quick and effortless. Read Less
No Hidden Charges
You will not incur any hidden fees or charges when applying for a two-wheeler loan. This ensures you can plan your repayments with ease and reduces the overall cost of borrowing.
To get a two-wheeler loan from Bajaj Markets, you must adhere to some eligibility requirements set by different partner lenders. Here are details of the eligibility criteria for all partners, depending on whether you are a salaried or self-employed individual.
Lenders |
Criteria |
Salaried Individuals |
Self-employed Individuals |
Bajaj Auto Credit |
Age |
21-65 years |
21-65 years |
Work Experience |
Employed with the same firm for at least 3 years |
Business proof of successful operations for the last 2 years |
|
Location |
You must be a resident of the same city for the last 1 year |
You must be a resident of the same city for the last 1 year |
|
CIBIL Score |
A CIBIL Score of 750 or more |
||
L&T Finance |
Nationality |
Indian Citizen |
Indian Citizen |
Age |
18-65 years |
18-65 years |
|
Muthoot Capital |
Age |
18-65 years |
18-65 years |
Salary |
Minimum salary of ₹96,000 per year |
Minimum income of ₹1.2 Lakhs per year |
To get a bike loan on Bajaj Markets, you need to provide certain documents along with meeting the eligibility criteria. These include proof of income, proof of address, and proof of identity. However, some issuers may require additional documents depending on their specific terms and conditions.
Lenders |
Details |
Bajaj Auto Credit |
|
L&T Finance |
PAN card, Aadhar card, bank statements, proof of residence |
Muthoot Capital |
|
Here are simple tips to help you get a bike loan online that suits your needs and preferences:
Compare Interest Rates
Explore and compare interest rates from multiple lenders to ensure you get the most affordable deal. Lower interest rates mean smaller EMIs and reduced overall repayment costs.
Understand the Terms and Conditions
Carefully read the loan agreement to understand hidden charges, prepayment penalties, or late payment fees. Ensure the terms are transparent and fair.
Consider Repayment Flexibility
Opt for a loan with flexible repayment tenures that align with your financial situation, allowing manageable monthly instalments.
Assess the Total Loan Cost
Look beyond the interest rate and calculate the total loan cost, including processing fees and other charges, to make an informed decision.
How to Apply for a Two-Wheeler Loan Online at Bajaj Markets
The process of applying for a two-wheeler loan online through Bajaj Markets is fairly easy. Simply follow the steps below.
-
Click on the ‘Check Offer’ button
Click on the ‘Check Offer’ button and start the journey to purchase your dream bike
-
Fill in the Basic Details
Fill in details pertaining to your identity and address
-
Choose Your Bike and the Amount You Need
Feed information like the bike details and the loan amount you need
-
Submit Details
Submit your applications, a representative will call you to take things forward
You can apply for a bike loan on Bajaj Markets to enjoy flexible terms from several partner lenders. Below are some key reasons to consider a bike loan, ensuring a smooth and straightforward buying experience.
Get up to 100% of the bike's on-road value
Interest rate starts at 0.99% p.a., with various loan offers
Flexible repayment tenure of up to 60 months
Use the EMI loan calculator to estimate monthly payments
Fast loan approval and disbursal with minimal documentation
Frequently Asked Questions
Can I get a 100% bike loan?
Yes. You can get up to 100% of the bike amount as a two-wheeler loan from various lenders available on Bajaj Markets.
Can anyone get a 2-wheeler loan?
Anyone can apply for an online bike loan as long as they are salaried, self-employed, or have a stable income source. The applicant needs to be at least 18 years old and earn a specified minimum monthly income with stable employment.
To qualify for a bike loan on Bajaj Markets, you need to meet these basic criteria.
Do I need a guarantor for a two-wheeler loan?
If you fulfil the two-wheeler loan eligibility criteria, you will not need a guarantor. However, if you think that you do not meet the criteria, you can get on board. You can also present a guarantor to simply increase your chances of getting the loan.
What’s the minimum CIBIL score I need to get a two-wheeler loan?
An ideal CIBIL score of 750 or above can help improve your chances of getting an online two-wheeler loan from Bajaj Markets. However, there is no fixed credit score requirement, especially in the case of secured loans like two-wheeler loans.
What are the minimum and maximum tenures of a two-wheeler loan?
The minimum tenure for a two-wheeler loan is 12 months, while the maximum tenure is generally 60 months. This repayment period may vary from one financial institution to another, so ensure to check with your lender prior to applying.
Can I prepay my two-wheeler loan? How does prepayment help?
Yes. You can pay the entire outstanding amount before the end of the tenure. It helps in closing the debt faster and saving on interest costs. Prepayment often incurs additional charges ranging between certain percentages of the outstanding loan amount.
How do I know if I am eligible for a two-wheeler loan?
Check how well you meet the eligibility criteria set by the lender you wish to get a two-wheeler loan from. This will help you estimate whether you are eligible for the loan.
To improve your chances of getting the loan at favourable interest rates, ensure the following:
A steady source of income
Stable employment
A good CIBIL score
Do I need to make a down payment or pay margin money?
Some lenders like L&T Finance offer up to 100% of your bike’s on-road value as a loan. In such cases, you are not required to make any down payment. This is subject to the lender’s policies and your eligibility.
How long will it take to process the loan?
The time taken to process the loan depends on the lender you wish to get the loan from. Usually, it can take 2 to 3 business days. However, some lenders do offer instant approval.
How to reduce the processing fees on your bike finance?
You can reach out to your chosen lender and negotiate for better loan terms on the grounds of having a strong credit profile or stable income. This includes the processing fee as well. However, do note that this is dependent on the lender’s policies.
Who provides two-wheeler loans on Bajaj Markets?
Lenders like Muthoot Capital, L&T Finance, and Bajaj Auto Credit offer bike loans on Bajaj Markets.
Does this loan need security or collateral?
This loan typically does not require collateral or security. When you purchase a two-wheeler, you do not need to provide any collateral to secure the loan.
How do I check my loan application status?
Reach out to your chosen lender’s customer service team or the official website to check the application status of the loan.
What is the minimum and maximum age criteria for a 2-wheeler loan?
If you are in the age bracket of 18-65 years, you can apply for a two-wheeler loan.
Can I foreclose my bike loan?
Yes, you can foreclose your two-wheeler bike loan. However, you may be required to pay some penalty as foreclosure fees.
Can I get a bike on EMI?
Yes, there are numerous options for you to purchase a bike on EMI. You can visit financial marketplaces (online) or institutions (online or offline) to apply for bike finance.
