Learn about Bank of Baroda two-wheeler loans in detail.
Bank of Baroda has been one of the most trusted banks in India for decades and is known for offering pocket-friendly two-wheeler loans. You can borrow amounts of up to ₹10 Lakhs and purchase your dream bike with ease. The Bank of Baroda bike loan interest rate starts at 13.90 % p.a., with a repayment tenure of up to 5 years.
Ensure to note the following Bank of Baroda two-wheeler loan interest rates and charges if you plan to apply:
Particulars |
Details |
---|---|
Floating Interest Rate |
13.65% p.a. (BRLLR + SP + 4.25%) |
Fixed Interest Rate |
13.90% p.a. (1 year MCLR + SP + 4.65%) |
Processing Fee |
2% of the loan amount (Minimum ₹250) + applicable GST |
Prepayment Charges |
No prepayment charges after 2 years from the first disbursement date |
Loan Amount |
Up to ₹10 Lakhs |
Repayment Period |
Up to 60 months |
Additional Interest |
0.05% additional interest applies if the borrower does not opt for Group Credit Life Insurance (GCLI) |
Disclaimer: The interest rates and charges mentioned above are subject to change. Cross-check the information with the lender before making any decision.
The Bank of Baroda two-wheeler loan EMI calculator is a helpful tool to estimate your monthly repayments. By entering details like the loan amount, tenure, and interest rate, you can get an accurate EMI figure. This enables effective financial planning and helps you select the best repayment option.
Borrow up to ₹10 Lakhs for premium two-wheeler models.
Bank of Baroda bike loan interest rates are competitive and start from just 13.90% p.a.
Repay the loan early without any additional penalties.
Choose a repayment period available up to 5 years to align with your financial plans.
Only 2% of the loan amount is charged as a processing fee.
To qualify for a BOB two-wheeler loan, ensure you meet these criteria:
Salaried employees, business professionals, farmers, and Bank of Baroda staff/ex-staff.
Gross Monthly Income (GMI) < ₹20,000: Total deductions including EMI ≤ 50%
GMI ₹20,000 to ₹1 Lakh: Deductions ≤ 60%
GMI > ₹1 Lakh: Deductions ≤ 70%
Salaried: Average GMI of the last 3 months considered.
Others: Average gross annual income of the last 2 years used for FOIR (Fixed Obligation to Income Ratio) calculations.
Provide these documents to complete your loan application:
PAN card, passport, or driving licence
Passport, voter ID, utility bill, updated passbook, or rent agreement
Last 6 months' bank account statements
Last 3 months' salary slips
Form 16 or recent IT returns
Balance sheet, profit/loss account, and income computation for 2 years
IT returns, Form 26AS, and business proof (e.g. Registration certificate and service tax registration)
Quotation for the bike.
Bank of Baroda’s two-wheeler loan is not available on Bajaj Markets. You can easily apply for a Bank of Baroda Two-wheeler Loan online through the official website. Follow a few simple steps mentioned below to proceed:
Visit the official website of the Bank of Baroda
Click on the ‘Loans’ option in the main navigation tab
Select ‘Baroda Two-wheeler Loan’ under the ‘Vehicle Loan’ option from the drop-down menu
Click on the ‘Apply Now’ button on the page
Fill in all the required details and submit
After this, your application will be verified. A representative will get in touch with you regarding the future proceedings of your loan application.
BOB two-wheeler loan offers flexible repayment options to suit different financial capacities. Here are the key features:
Repayment tenure ranges up to 5 years, allowing borrowers to choose a comfortable schedule.
Pay off your loan early without any penalties, offering savings on interest costs.
Borrowers can repay the loan in affordable Equated Monthly Instalments (EMIs), ensuring consistent payments over time.
Repayment is structured based on the borrower’s income, ensuring affordability and financial stability.
These options make managing your Bank of Baroda Bike Loan easy and convenient.
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You can borrow up to ₹10 Lakhs under this loan, making it suitable for purchasing premium bikes, scooters, or electric two-wheelers.
Yes, a 2% processing fee of the loan amount is charged (minimum ₹250), plus applicable GST, ensuring transparency in charges.
Applicants must be at least 21 years old to qualify for the loan, which typically indicates the lender of the individuals’ financial maturity.
You can check your loan status using the Bank of Baroda website, mobile app, or by visiting the nearest branch for updates.
Your loan balance can be accessed via the mobile app, internet banking portal, or by requesting a statement from your bank branch.
Self-employed applicants do not need a guarantor but must submit valid business income proof and financial documents to demonstrate repayment ability.
Yes, completing KYC compliance is mandatory, which includes submitting valid ID and address proof.
Loan cancellation may attract processing charges or administrative fees depending on how far the application has progressed. It's best to confirm with the bank for specific details.