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✓ Attractive Interest Rates ✓ Repayment Tenure of up to 3 Years ✓ Smooth Online Process 

What is Down Payment?

The down payment is an amount of money paid by a customer at the beginning of the process of acquiring a costly commodity or service. The down payment is a percentage of the entire appraised value of the entity or service. A down payment allows the buyer to gain ownership of the purchased items while also lowering the monthly payment towards the mortgage principal and interest.

What is Zero Down Payment Bike Loan?

A zero down payment bike loan is a payment option in which your lender covers the entire cost of the bike. You will not be burdened to pay any money in advance while purchasing your bike. The only preliminary expense associated with a zero down payment bike loan is the processing fee, which is usually levied directly by the bank throughout the loan process.

Many financial institutions provide a zero down payment bike loan, but it's a good idea to perform comprehensive research and choose the finest among them before taking out a loan. You may choose the Bajaj Markets platform to acquire a zero down payment bike loan for a hassle-free experience as well as for numerous benefits.

Benefits of Zero Down Payment Bike Loan

Here are the following benefits of a zero down payment bike loan.

  • You can buy a bike without worrying about the money.

  • The bank will finance the vehicle's cost, after which you may return your loan in manageable EMIs.

  • Your cash flow will be unaffected.

  • You only have to pay the processing charges.

  • The loan has a quick and easy disbursement process.

  • You can get the loan with minimal documentation.

Eligibility Criteria for Zero Down Payment Bike Loan

Below are the details of eligibility criteria for a zero down payment bike loan:

Salaried Individual

  • The minimum age of the applicant should be 21.

  • The maximum age of the applicant should be 65 at the end of the loan repayment tenure.

  • The person must be an Indian citizen.

  • The individual is required to have a good credit score.

  • The monthly income should be at least Rs. 12,000.

  • The applicant must have work experience of at least a year.

Self-employed Person

  • The minimum age of the individual should be 21.

  • The maximum age should be 65 at the end of the loan repayment tenure.

  • The person must be an Indian citizen.

  • The individual is required to have a good credit score.

  • The monthly turnover should be a minimum of Rs. 12,000.

  • The candidate must have been in business for at least two years.

Interest Rate & Charges for Zero Down Payment Bike Loan

Below is the table containing the interest rate & charges for a zero down payment bike loan.

Rate of Interest

It starts at 7.25% and goes up to 28% per annum.

Processing Charges

Up to 3% of the loan amount

Documentation Fees

Up to 3% of the loan amount

Foreclosing Fees

Every financial institution has its own foreclosing fees.

Stamp Duty

Every state has its own stamp duty rates.

Repayment Tenure

Every financial institution has its own repayment period. 

 

Disclaimer: Interest rates & charges are subject to change depending on market conditions and the financial institution’s discretion.

Document Required for Zero Down Payment Bike Loan

Here is the list of documents needed for a zero down payment bike loan.

  • Proof of identity (Aadhaar card, Voter Id card, Ration card, Passport, Driving license, or PAN card)

  • Residential proof (Rent agreement, Passport, Aadhaar card, Utility bills, Passport, Voter Id card, or Ration card)

  • Proof of income for the salaried person - Salary slips, Bank account statement, and ITR

  • Proof of Income for the self-employed individual - Current ITR and Audited financial statements

Zero Down Payment Bike Loan FAQs

✔️Can I buy a bike with zero down payment?

You can buy a bike of your choice with a zero down payment bike loan. A zero down payment bike loan is a payment option in which your lender covers the entire cost of the bike. You only need to pay the processing charges.

✔️Can zero down payment loan be available for super bikes?

Yes, you can purchase a super bike with the help of a zero down payment bike loan.

✔️Can a zero down payment option be available for Scooty?

The facility of the zero down payment for Scooty is available. You can buy any two-wheeler of your choice with the help of a zero down payment bike loan.