BAJAJ FINSERV DIRECT LIMITED
✓ Interest Rates Starting @ 0.99% p.a. ✓ Up to 100% Financing ✓ Repayment Tenure of up to 5 Years

Zero-Down Payment Two-Wheeler Loan

A zero-down payment bike loan allows you to purchase your dream bike without depleting your savings.

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Interest Rate

Starting at 0.99% p.a.*

Loan Tenure

Up to 5 Years
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Loan Amount

Up to 100%

There are several possible ways to buy a two-wheeler, many of which require a minimal down payment. A zero-down payment bike loan can be a suitable option that helps you access financing without an upfront cost. 

Explore zero-down payment two-wheeler loan with lenders available on Bajaj Markets. Get up to 100% Loan-to-Value (LTV) for your dream bike. Enjoy low interest rates starting from 0.99% p.a. and various other benefits.

Understanding Down Payments

When you apply for two-wheeler loans, you are typically required to make an upfront payment. This is a specific portion of the cost of your chosen bike. You pay this amount directly at the time of purchase, while the remaining cost is financed by the lender. 

This payment reduces the total loan amount and also lowers your EMIs and interest burden. By making a down payment, the lender's risk is reduced as the financed amount is smaller. Many lenders require a down payment of 10% to 20%, depending on their policies.

Some issuers also offer 100% financing, allowing you to purchase the bike without any upfront payment.

Zero Down Payment Two-Wheeler Loans

A two-wheeler loan without a down payment allows you to finance the entire cost of your bike. Unlike standard loans that require an initial down payment, these loans cover 100% of the bike’s on-road cost. However, these loans may include a processing fee at the time of application.

One key benefit of such loans is the flexibility in loan coverage. While traditional loans cover only 85–95% of the vehicle’s price, a zero-down payment loan eliminates the need for any upfront payment. It enables you to take your bike home directly from the showroom without any immediate financial obligation.

Zero Down Payment Bike Loan Interest Rates & Charges

Zero down payment bike finance on Bajaj Markets makes your dream bike purchase affordable and convenient. Here are the applicable interest rates and charges on these two-wheeler loans you need to check before applying: 

Lender

Maximum Loan Amount

Minimum Interest Rate

Maximum Loan Tenure

Processing Fees

Muthoot Capital 

 

View Details

₹3 Lakhs

0.99% p.a.

48 Months

4% of the loan amount

Bajaj Auto Credit Ltd

 

View Details

LTV - 98%

6.65% p.a.

60 months

3% of the loan amount

L&T Finance 

 

View Details

LTV - 100%

6.99% p.a.

48 Months

5% of the loan amount

Disclaimer: The mentioned details are subject to change at the lender’s discretion.

Features of Zero Down Payment Two-Wheeler Loan

High LTV Ratio

Without making an upfront payment, this loan allows you to purchase a bike with up to a 100% LTV ratio.

Quick Ownership

You can take immediate ownership of your bike without delay.

Competitive Interest Rates

Competitive interest rates help you manage your loan cost while saving upfront expenses, which you can use for accessories or other needs.

Flexible Repayment Tenure

You can choose a flexible EMI according to your budget and manage your cash flow better.

Easy Repayment Options

Flexible repayment options make managing your EMIs easier.

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Zero Down Payment Bike Loan vs Conventional Two-Wheeler Loans

A zero-down payment bike loan allows you to finance the entire cost of the bike without spending anything from your pocket. In contrast, traditional loans require you to make an upfront payment. Here is a brief comparison of these two types of loans: 

Parameters

Zero-Down Payment Loan

Conventional Two-Wheeler Loan

Down Payment

No upfront payment as 100% of the bike cost is financed

Typically 5–30% of the bike cost needs to be paid upfront

Loan Amount

Up to 100% of the on-road price, including insurance and taxes

70–95% of the on-road price, as the remaining portion is paid as a down payment

EMI Amount

Higher due to a larger loan principal

Lower since the principal is smaller because of the down payment

Interest Rates

Slightly higher due to increased risk for the lender

Generally lower compared to zero-down payment loans

Suitability

Suitable for buyers with limited savings or have an urgent need for a bike

Suitable for buyers with some savings or who prefer lower EMIs and interest rates

How to Get the Best Offer on a Zero-Down Payment Bike Loan

To secure the best offer on a 0-down payment bike loan, you need to consider factors beyond just the interest rate. Here are a few factors to consider:

  • Review Loan Terms Carefully

Go through all loan details, including interest rates, tenure, and any hidden charges, before submitting your application. Understanding these terms helps avoid surprises later.

  • Meet Eligibility Criteria

You need to meet the lender’s eligibility requirements to improve your chances of approval. Confirm your qualifications before applying to save time.

  • Maintain a High Credit Score

A credit score above 750 helps you qualify for better loan terms. It also enhances your overall creditworthiness, making lenders more willing to approve your application.

  • Leverage Existing Lender Relationship

Applying with a lender you already have a relationship with can lead to quicker approvals. Existing ties may also help you access better offers and terms.

  • Compare Loan Offers

Evaluate offers from different lenders by considering interest rates, loan-to-value (LTV) ratio, and processing fees. Comparing helps you choose the most cost-effective option.

  • Limit Loan Amount

Keep your EMI within 40–50% of your monthly income to ensure comfortable repayments. This balance helps you manage EMIs comfortably without straining your finances.

  • Submit Complete Documentation

Provide all required documents to ensure smoother processing and faster approval. Missing paperwork often causes delays, so prepare your documents carefully.

  • Look for Seasonal Offers

Festive seasons and special sales often include perks such as free insurance or improved loan terms. Take advantage of these periods to get added benefits.

  • Apply Online for Faster Processing

Use digital lending platforms to apply conveniently and receive quick responses. Online applications reduce paperwork and speed up the approval process.

Eligibility Criteria for Zero Down Payment Bike Loan

While the criteria may differ from one lender to another, here are some common eligibility requirements you need to know about: 

  • Your minimum age has to be 18 years

  • Your maximum age can be 65-70 years at the end of the loan repayment tenure

  • You must be an Indian citizen

  • You must have a good CIBIL score- 750 or higher

  • If salaried, you need to be currently employed with experience of at least 1 year

  • If self-employed, you need to provide IT returns for at least 2 years

Documents Required for Zero Down Payment Bike Loans

Here is the list of documents you are usually asked to submit when applying for this loan on Bajaj Markets:

Identity proof (Any one)

  • Voter ID

  • Passport

  • Driving licence

  • PAN card

Residential proof (Any one)

  • Passport

  • Utility bills

  • Government-issued documents 

Income Proof

  • Salary slips

  • Bank account statements

  • ITR filings

  • Audited financial statements

How to Apply for a Zero-Down Payment Bike Loan

To apply for a two-wheeler bike loan on Bajaj Markets, here are the steps that you can follow:

  1. Click on the ‘Check Offer’ option on this page 

  2. Provide your personal details and information related to the two-wheeler you wish to purchase 

  3. Enter the required loan amount and preferred loan repayment tenure 

  4. Check the details entered and submit the application 

Following this, a representative will verify your application and reach out to you for further proceedings. 

Conclusion

Zero-down payment bike loans are feasible options offering flexible EMIs. They do not require any upfront payment to take possession of your bike. Zero down payment loan options have benefits like unaffected cash flow and initial processing charges.

However, a zero-down payment loan also has some disadvantages, such as longer repayment tenure and increased interest rates. Before opting for this loan, check bike loan eligibility and consider some tips to get faster approval on your application.  

Frequently Asked Questions

Can I buy a bike with zero down payment?

Yes. A zero-down payment bike loan is a payment option in which your lender covers the entire cost of your bike. With this, you can buy a two-wheeler vehicle of your choice without making any upfront payments. 

Yes. You can get a bike loan without making any down payment to purchase electric bikes. However, this is subject to the lender’s policies.

While generally a good credit score is needed, some lenders may offer loans to individuals with lower scores, but with stricter terms or higher interest rates.

In addition to the interest rates, you may be asked to pay additional charges. However, it is subject to the policies of the lender. Always confirm all charges with your lender before applying.

Interest rates in a zero-down payment loan are generally higher compared to other types of bike loans. In this type of loan, the tenure is also higher, resulting in higher interest rates. 

You can prepay your zero-down payment bike loan either fully or partially before the tenure ends. 

The maximum loan amount for a zero-down payment bike loan can be up to 100% of the bike’s on-road price, based on the lender you choose. 

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