Two wheelers are the preferred mode of transport in Indian cities. Low-interest bike loans have made it affordable and convenient for Indians to buy two-wheeler of their choice.
One can easily apply for two wheeler loans with Bajaj Auto Credit. You can comfortably pay off the monthly installments as we offer attractive interest rates. Interest rate can directly affect the equated monthly installment 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 two-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
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Annualised ROI is Starting from
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Up to 36% for two- wheeler Excluding HTS, STS & Advance EMI Case
Upto Max of 40% for three-wheeler and Qute
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Loan Tenure
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From 3 Month to 60 Month for two- wheeler
From 3 months to 84 months for three-wheeler and Qute
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Processing fees
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For Two-Wheeler:
-Up to 7.00% of loan Amount as a standard percentage.
-Up to 16% of Loan amount for Low ROI (Up to 7% ROI) scheme.
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.
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Loan Amount
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Minimum 9999,upto 20 Lakhs for two- wheeler
From min 10,000 and upto 4.5 lakhs for three-wheeler and Qute
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Disclaimer : Annualised ROI mentioned is Excluding of HTH,STS & Advance EMI Cases Apply for Loan Calculate Your EMI
How is Interest Calculated on Bike Loan?
As is obvious above, before getting two-wheeler finance it is important to know the two wheeler loan interest rates. Interest rates on two-wheelers vary for applicants based on their profile, repayment capacity, income level and the type of loan.
- Two wheeler loan interest rates vary according to the category of the two wheelers.
- For secured loans, the interest rate is lower while unsecured loans are offered on higher interest rates.
- Your financial status also has an impact on the interest rate of the Two Wheeler Loan. Your income is considered a parameter in determining your repayment capacity and credibility.
- Salaried individuals with a stable job are usually offered two wheeler loans on lower interest rates while self-employed individuals are offered loans on higher interest rates.
The EMIs for two wheeler loans are structured depending upon all these factors.
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Advantages of Taking a Two 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 Two wheeler loan from us. These are:
- Hassle free documentation and speedy processing
- Quick disbursal of two-wheeler loans
- Low-interest rates and low-cost EMIs
- Convenient repayment schedule
- Flexibility to choose the tenure and EMI schedule as per your monthly budget
- Nominal foreclosure charges
- Two wheeler loans offered to salaried professionals as well as self-employed individuals
- Partial foreclosure option is available
- Call center customer support in ten different languages
- Special offers for existing customers and customers with an exceptional track record
Contact us now and get a Bajaj bike loan with the lowest rate of interest!
Apply for Loan Calculate Your EMI
Two Wheeler Loan Interest Rate FAQs
The Bajaj Auto Credit provides an attractive interest rates in addition with 1% onwards* processing fee of the loan amount.
The main factors that affect the two wheeler loan interest rate are the loan amount, loan tenure, employment history and credit history of the borowwer.
Bajaj Auto Credit provides finance upto 95%* that means you only need to pay around 5%* of the value of the bike as down payment. It also depends on your loan amount, repayment tenure, employment and credit history.
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