Three Wheeler Loan Interest Rates
Three wheelers are the preferred mode of transport in Indian cities. Low-interest three-wheeler loans have made it affordable and convenient for Indians to buy three-wheeler of their choice.
One can easily apply for three wheeler loans with Bajaj Auto Credit. You can comfortably pay off the monthly instalments as we offer attractive interest rates. Interest rate can directly affect the equated monthly instalment or the EMI you are expected to pay for the loan tenor. Even the slightest change of 0.25% rate can have a major impact on the EMI. Therefore, interest rates play a key role in three-wheeler finance and we ensure that our customers are getting an attractive interest rate.
Interest Rate Methodology
Interest rate applicable for Loans in BACL varies basis BACL internal credit and risk policy and as per an algorithmic multivariate score card which includes following variables (the variable list mentioned below is not exhaustive):
(a) Interest rate risk (fixed loan viz floating loan) (b) Credit and default risk in the related business segment; (c) Historical performance of similar homogeneous clients; (d) Profile of the Borrower; (e) Industry segment; (f) Repayment track record of the Borrower; (f) Nature and value of collateral security (g) Secured viz unsecured loan; (h) Subvention available (i) Ticket size of loan; (j) Credit Bureau Score; (k) Tenure of loan; (l) Location delinquency and collection performance (j) Customer indebtedness in other existing loans. The aforesaid variables may be revised from time to time as per the Lender’s past performance in a given loan portfolio.
Bajaj Auto Credit Loan Interest Rates
Annualised ROI is Starting from |
Upto Max of 40% for three-wheeler and Qute |
Loan Tenure |
From 3 months to 84 months for three-wheeler and Qute |
Processing fees |
For Three-Wheeler & Qute: For new Vehicles: -Up to 6% (inclusive of applicable taxes) of Loan Amount as standard percentage. -Up to 30% of Loan Amount for Zero and Low ROI (Up to 15%) schemes. For Refinance and Used Finance upto 25% of Loan Amount.
|
Loan Amount |
From min 10,000 and upto 5,00,000 for three-wheeler and Qute |
Disclaimer : Annualised ROI mentioned is Excluding of HTH,STS & Advance EMI Cases Apply for Loan Calculate Your EMI
How is Interest Calculated on Three-wheeler Loan?
As is obvious above, before getting three-wheeler finance it is important to know the three-wheeler loan interest rates. Interest rates on three-wheelers vary for applicants based on their profile, repayment capacity, income level and the type of loan.
The EMIs for three-wheeler loans are structured depending upon all these factors.
Advantages of Taking a Three Wheeler Loan from Bajaj Auto Credit
As is mentioned above, Bajaj Auto Credit offers the lowest rate of interest to its customers. Apart from that, there are several other advantages of taking a Three-wheeler loan from us. These are:
Contact us now and get a Bajaj three-wheeler loan with the lowest rate of interest!
Apply for Loan Calculate Your EMI
Three-Wheeler Loan Interest Rate FAQs
Q: What is the three-wheeler loan interest rate of Bajaj Auto Credit?
The Bajaj Auto Credit provides an attractive interest rates in addition with 1% onwards* processing fee of the loan amount.
Q: What are the main factors that affect three-wheeler loan interest rate?
The main factors that affect the three-wheeler loan interest rate are the loan amount, loan tenure, employment history and credit history of the borrower.
Q: What is minimum down payment required for a three-wheeler loan?
Bajaj Auto Credit provides finance upto 95%* that means you only need to pay around 5%* of the value of the three-wheeler as down payment. It also depends on your loan amount, repayment tenure, employment and credit history.