Two Wheeler Loan 

Bike Loan Interest Rates – Get Low Interest Two Wheeler Loan online 2024

28692 Views

Looking for lowest and best interest rates on two wheeler loans for 2024. So compare & get quotes on Interest rate Guide of various banks at Deal4loans.

If you are a working professional and want to commute by your own then two wheeler is the best option and even the first preference of all. It is faster and even economic as well compared to traveling in four-wheeler. All the two-wheeler companies introduce newer model with better performance and mileage to lure the customers. Even to make it more reachable for all class of customers these companies have two-wheeler for all segments to meet the needs of customers. Nowadays, students, girls and even working ladies too prefer to travel through their own two-wheeler.

Those who don’t have enough funds to make payments in one go, can avail a two-wheeler loan to buy their dream machine. There are many banks which offer two-wheeler loans to customers on different date of interest and EMIs. Those who are seeking a bike/two-wheeler loan should compare the rate of interest, processing fee, prepayments charges, tenure and other details. Deal4loans. can help you to make right decision and to get the best deal from financing company.

Top Banks Two Wheeler Bike Loan Interest Rates in India

Bank Name

Interest Rates

Processing Fees

Maximum Repayment Period

State Bank of India

11.35% – 17.15%

1.25% – 2.00% of loan amount

3 Years

HDFC Bank

12.90% – 24.00%

2% of loan amount, 1% for HDFC Account Holders

4 years

ICICI Bank

12.50%

0.25%*

3 Years

PNB Bank

11.10% – 13.60%

N.A

5 years

Bank of Baroda

13.65%

2%, (Minimum Rs.250/-)

5 Years

Bank of India

13.70%

N.A

5 years

Bajaj Finserv

13% – 18%

up to 4%

up to 3 Years

Bank of Maharashtra

N.A

Rs.500/-

5 Years

Eligibility Required for 2 Wheeler Loans:

✓ Salaried or self-employed individual
✓ Individuals into agricultural & allied activities
✓ Between the age of 21 to 65 years
✓ Resides for at least 1 year in the city
✓ Working for at least 1 year
✓ Have a phone at your residence or office

EMIs on Two Wheeler Loan

So, now that you have decided to apply for Two Wheeler Bike Loan, it is also important for you to know the EMIs of the same. What is the exact amount of monthly instalment you need to pay to a lender each month? Here you can see the EMI at a bike loan of INR 50,000, INR 1 Lac, INR 1.5 Lacs, INR 2 Lacs, and INR 2.5 Lacs at an interest rate of 11% and 18% for 24 Months and 48 Months.

Below is a table showing EMIs, Interest Outgo and Total Amount Payable on a loan.

Loan Amount (in ₹) ROI 12% (24 Months EMI) ROI 12% (48 Months EMI) ROI 15% (24 Months EMI) ROI 15% (48 Months EMI)
50,000 INR 2,353 p.m. INR 1,316 p.m INR 2,424 p.m. INR 1,391 p.m.
1,00,000 INR 4,707 p.m. INR 2,633 p.m. INR 4,849 p.m. INR 2,783 p.m.
1,50,000 INR 7,061 p.m INR 3,950 p.m INR 7,273 p.m. INR 4,175 p.m
2,00,000 INR 9,414 p.m. INR 5,266 p.m. INR 9,697 p.m. INR 5,566 p.m
2,50,000 INR 11,768 p.m. INR 6,583 p.m. INR 12,121 p.m INR 6,957 p.m.

 

Related Posts: