Bank of Baroda Two Wheeler Loan

When it comes to affordable two wheeler loans in the Indian market, many options are available. The key to not burdening yourself and not disrupting the monthly budget is choosing the one that suits your needs. Interest rates play the determining factor in the monthly EMI you have to pay. Bank Of Baroda has been one of the most trusted banks for decades, and they too offer pocket-friendly two wheeler loans. If you are someone looking for an ideal loan to buy a two wheeler, check out the details of the Bank Of Baroda Two Wheeler Loan here.

Bank of Baroda Two Wheeler Loan Interest Rate & Processing Fees

What makes the Bank Of Baroda Two Wheeler Loan easy to afford is its competitive interest rates. Depending on the profile and creditworthiness of the borrower, Bank Of Baroda Bike Loan interest rate changes from person to person. Take a look at the Bank of Baroda Bike Loan details here.

*Interest rates and charges are subject to market conditions and banks' discretion.

Features & Benefits of Bank of Baroda Two Wheeler Loan

• Loan Amount:

Loan of up to Rs. 10 Lakhs can be availed to buy a new two wheeler with an extended loan tenure of 60 months.

• Simple Procedure:

You can have a quick and easy loan disbursement experience with very minimal documentation.

• Minimal Processing Charges:

You can get a Bank Of Baroda 2 Wheeler Loan with 2% processing charge of the loan amount. There are no processing charges for loans availed by the staff or ex-staff of Bank of Baroda.

• Zero Pre-closure Charges:

In case you have surplus money and want to prepay the loan, you can close your loan with zero pre-closure charges.

• Quick Loan Approval:

All Bank of Baroda Bike Loans are processed and approved quickly without keeping the borrowers on edge.

Bank of Baroda Two Wheeler Loan EMI Calculator

You can use the Bank of Baroda Two Wheeler Loan EMI calculator to calculate the monthly EMI you have to pay if you get a Bank of Baroda Two Wheeler Loan. Enter your principal amount, interest rate, and loan tenure in the online calculator and click on ‘Calculate’. It will display your monthly EMI along with the total interest you have to pay. Calculating your EMI and comparing it with other two wheeler loan schemes offered by different financial institutions before choosing one will help you manage your finances.

Bank of Baroda Bike Loan Eligibility Criteria

You have to satisfy the below-mentioned eligibility criteria to avail a Bank of Baroda Bike Loan.

Steps to Apply for Bank of Baroda Two Wheeler Loan

You can easily apply for a Bank of Baroda Two Wheeler Loan online. Follow a few simple steps mentioned below to apply for one:

• Step 1: Visit the official website of Bank of Baroda.
• Step 2: Click on the ‘Loans’ option in the main navigation tab.
• Step 3: A drop-down menu appears, and from that, click on ‘Baroda Two Wheeler Loan’ under the ‘Vehicle Loan’ option.
• Step 4: Click on the ‘Apply Now’ button on the page.
• Step 5: Fill in all the required details on the new page that opens.
• Step 6: A Bank of Baroda representative will get in touch with you regarding your loan application.

 

You can also visit the nearest branch to apply for the two-wheeler loan directly.

Documents Required for Bank of Baroda Two Wheeler Loan

Here is a complete list of the documents required to apply for a Bank of Baroda Two Wheeler Loan.

1. Signed application form
2. 3 passport size photographs
3. Proof of Identity - Voters ID card/Aadhaar card/ Passport/ Driving licence/ PAN card
4. Proof of Residence - Utility bills like electricity bill, gas passbook, etc/Passport/Voters ID card/Updated passbook or bank account statement/ Driving licence
5. Bike quotation
6. For salaried individuals,

• Last 3 months' salary slips

• Form 16/IT returns

• Statement of account for last 6 months

7.  For self-employed individuals,

• Balance sheet

• Profit and loss account, computation of income for last 1 year

• Income Tax Returns of last 1 year

• Business proof: Registration Certificate/Service Tax Registration

• IT Assessment/Clearance Certificate

• Income Tax Challans/TDS Certificate (Form 16A)/Form 26

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