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Two Wheeler Loan FAQs

Two-Wheeler Loan has made your ride easier. Now you can minimize your dependency on public transport. Banks offer the best Two- Wheeler loan schemes and you can repay the loan through ECS, Standing Instructions or post-dated cheques with easy EMIs.

Two Wheeler Loan FAQs

Fees and Charges Applicable on Two wheeler Loans are:

  • Loan Processing Charges
  • EMI Late payment penalty
  • Prepayment Fees
  • Loan cancellation charges
  • No Due Certificate
  • No Objection Certificate (NOC)
  • Charges for Conversion
  • Administrative Fee
  • Cheque Bounce / EMI return charges
  • Loan Rebooking Charges
  • Legal, Repossession & Incidental charges
Yes, you should avail the loan even if you have enough money with you. The reason is you don't have to spend your money in lumpsum and you can invest that money in better options like mutual funds, banks FDs, etc. Further, two-wheeler loans are available in very attractive and competitive interest rates in the market.
The two-wheeler loans offered by banks are available for a period ranging from 3 years to 5 years. This period also varies on the basis of purchase of new two-wheeler or old two-wheeler.
If the loan is taken against a security or collateral like home, flat, debentures, land, etc., it is called secured two-wheeler loan. This type of loan is offered on very low rates as the risk of loan repayment is reduced.
If the loan is taken without any collateral or security, it is called unsecured two-wheeler loan. As the loan repayment risk is high for banks, they offer this loan on higher interest rates.
If you have a good credit score then the loan will be offered at the most competitive interest rates and other lenient terms.
It generally takes about 1-7 working days for processing the loan and getting it sanctioned after submission of all the required documents.

There are 4 stages involved in availing a two-wheeler loan, which are:

  1. Submitting a Loan Application
  2. Processing of application
  3. Approval of the loan
  4. Disbursement of loan amount
It varies from bank to bank. Some banks provide loans up to 100% for their account holders for some specific models.

Get Banks Loan Interest Rates

Abhyudaya Cooperative Bank LimitedAhmedabad Mercantile Cooperative Bank
Akola Urban Coop Bank Allahabad Bank
Allahabad Up Gramin BankAmanath Cooperative Bank Ltd. Bangalore
Andhra BankAndhra Pradesh Grameena Vikas Bank
Andhra Pragathi Grameena BankApna Sahakari Bank Limited
Arunachal Pradesh Rural BankAssam Gramin Vikash Bank
Au Small Finance Bank LimitedAxis Bank
Bandhan Bank LimitedBangiya Gramin Vikash Bank
Bank Of BarodaBank Of India
Bank Of MaharashtraBaroda Gujarat Gramin Bank
Baroda Rajasthan Kshetriya Gramin BankBaroda Up Gramin Bank
Bassein Catholic Cooperative Bank LimitedBharat Cooperative Bank (mumbai) Ltd., Mumbai
Bharati Sahakari BankBharatiya Mahila Bank Limited
Bihar Gramin BankBombay Mercantile Co Op Bank Ltd
Canara BankCapital Small Finance Bank Limited
Catholic Syrian Bank LimitedCentral Bank Of India
Central Madhya Pradesh Gramin BankChaitanya Godavari Grameena Bank
Chhattisgarh Rajya Gramin BankCitizen Credit Cooperative Bank Limited
City Union Bank LimitedCorporation Bank
Dcb Bank LimitedDena Bank
Dena Gujarat Gramin BankDhanalakshmi Bank
Dombivli Nagari Sahakari Bank LimitedEllaquai Dehati Bank
Equitas Small Finance Bank LimitedEsaf Small Finance Bank Limited
Export Import Bank Of IndiaFederal Bank
Fincare Small Finance Bank LtdG P Parsik Bank
Gramin Bank Of AryavartHdfc Bank
Himachal Pradesh Gramin BankIcici Bank Limited
Idbi BankIdfc Bank Limited
Indian BankIndian Mercantile Cooperative Bank Ltd.
Indian Overseas BankIndusind Bank
Jalgaon Janata Sahakari Bank LimitedJammu And Kashmir Bank Limited
Jammu And Kashmir Grameen BankJanakalyan Sahakari Bank Limited
Janalaxmi Coop Bank Janata Sahakari Bank Ltd
Jharkhand Gramin BankKallappanna Awade Ichalkaranji Janata Sahakari Bank Limited
Kalupur Commercial Cooperative BankKalyan Janata Sahakari Bank
Kapol Cooperative Bank LimitedKarnataka Bank Limited
Karnataka Vikas Grameena BankKarur Vysya Bank
Kashi Gomti Samyut Gramin BankKaveri Grameena Bank
Kerala Gramin BankKhamgaon Urban Co Op Bank Ltd
Kotak Mahindra Bank LimitedLangpi Dehangi Rural Bank
Laxmi Vilas BankMadhya Bihar Gramin Bank
Madhyanchal Gramin BankMahanagar Cooperative Bank
Maharashtra Gramin BankMalwa Gramin Bank
Manipur Rural BankMeghalaya Rural Bank
Mizoram Rural BankNagaland Rural Bank
Nagar Urban Co Operative BankNagpur Nagarik Sahakari Bank Limited
Narmada Jhabua Gramin BankNasik Merchants Cooperative Bank Ltd.
New India Cooperative Bank LimitedNkgsb Cooperative Bank Limited
North East Small Finance Bank LimitedNutan Sahakari Bank Ltd
Odisha Gramya BankOriental Bank Of Commerce
Pallavan Grama BankPandyan Grama Bank
Paschim Banga Gramin BankPragathi Krishna Gramin Bank
Prathama BankPravara Sahakari Bank Ltd
Puduvai Bharathiar Grama BankPunjab And Maharshtra Cooperative Bank
Punjab And Sind BankPunjab Gramin Bank
Punjab National BankPurvanchal Gramin Bank
Rajarambapu Sahakari Bank LtdRajasthan Marudhara Gramin Bank
Rajkot Nagrik Sahakari Bank LimitedRbl Bank Limited
Rupee Cooperative Bank Ltd.Sangli Urban Co Op Bank Ltd Sangli
Saptagiri Grameena BankSaraswat Cooperative Bank Limited
Sardar Bhiladwala Pardi Pepls Co BkSarva Haryana Gramin Bank
Sarva Up Gramin BankSaurashtra Gramin Bank
Shikshak Sahakari Bank LimitedSolapur Janata Sahakari Bank Limited
South Indian BankState Bank Of Bikaner And Jaipur
State Bank Of HyderabadState Bank Of India
State Bank Of MysoreState Bank Of Patiala
State Bank Of TravancoreSuryoday Small Finance Bank
Sutlej Kshetriya Gramin BankSyndicate Bank
Tamilnad Mercantile Bank LimitedTelangana Grameena Bank
The A.p. Mahesh Cooperative Urban Bank LimitedThe Akola Janata Commercial Cooperative Bank Ltd., Akola.
The Cosmos Co Operative Bank LimitedThe Goa Urban Co Op Bank Ltd
The Greater Bombay Cooperative Bank LimitedThe Jalgaon Peopels Cooperative Bank Limited
The Kapol Cooperative Bank LimitedThe Karad Urban Cooperative Bank Limited
The Mapusa Urban Coop Bank Of Goa LtdThe Mehsana Urban Cooperative Bank
The Nainital Bank LimitedThe Shamrao Vithal Cooperative Bank
The Surath Peoples Cooperative Bank LimitedThe Thane Bharat Sahakari Bank Limited
The Zoroastrian Cooperative Bank LimitedTjsb Sahakari Bank Ltd
Tripura Gramin BankUco Bank
Ujjivan Small Finance Bank LimitedUnion Bank Of India
United Bank Of IndiaUtkal Grameen Bank
Utkarsh Small Finance BankUttar Banga Kshetriya Gramin Bank
Uttar Bihar Gramin BankUttarakhand Gramin Bank
Vananchal Gramin BankVidharbha Konkan Gramin Bank
Vijaya BankYes Bank
Zila Sahakari Bank Ltd 

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