Why Two Wheeler Loans Is The Smarter Way of Financing?

After selecting the model of the two-wheeler that you want to buy from many options available, the next thing you need to determine is how to finance that bike. There are two prominent options available when it comes down to it. You can either choose to pay cash or avail a vehicle loan. Let’s consider why availing a Two wheeler loan is the smarter way of financing

Additional Offers

You can get various gifts and offers like:

  • Cashback
  • Reduced interest rates
  • Zero down payment schemes
  • Free gifts

Quick Paperwork

Most bike sellers on the market today are in partnership with bike finance companies to provide rapid loans to customers. The paperwork required for these loans is minimal, and the processing time is extremely small. 

Down payment

Incase of cash-crunch, you don’t have to worry as the minimum down payment for bikes is very low. Some financers allow zero down payment facilities

Improve Credit Score

Opting for easy to repay loans help you to improve your CIBIL score.

Upgrade your bike’s model

Availing a loan can help you to buy a better, more advanced bike than before. 

So, instead of opting to pay cash during your bike purchase, it might be smarter to take a loan.

Additionally, Read:-

Here is the all Requirement to apply for Two Wheeler Loan

Here’s How a Two Wheeler Loan Helps you Purchase the Dream Bike

More often than not, there is a glaring difference between the bike you ride and the bike you want. A Two-Wheeler loan can readily fill up this gap by offering the needed financial support to help you purchase the vehicle of your dreams. 

Here are some of the best and most productive ways by which a 2 Wheeler Loan empowers you towards the bike that you have always desired:

  1. Easy Repayment Schemes

Bike loans can be repaid as monthly EMIs. This ensures a state of financial well-being whilst allowing you to save the cash reserves for an emergency. For someone looking to buy a pricey back without financial support, paying the entire sum at once is often next to impossible.

  1. Better Payment Restructuring

Every lender offers a Two Wheeler loan EMI calculator. Once you have an idea of the interest rates, you can calculate the monthly payments as per your preferences. You can restructure the total payable amount in any manner you like by modifying the tenure. 

  1. Easy to Apply

A two-wheeler loan is probably the easiest to apply for. Besides, if your credit score or profile is sound enough and all the documents are in place, you might even be eligible for instant approvals. 

The bike loan flexibilities mentioned above ensure that you can easily get hold of a dream Two-wheeler without having to worry about the price tag.

5 Reasons to Apply for a Loan while Purchasing a Bike

Are you interested in purchasing a new bike? If yes, it is advisable to apply for a two-wheeler loan from credible banks or NBFCs. Although you can take any preferred application route, going online is probably the fastest way of getting approved.

All things aside, here are some of the primary reasons for getting hold of a bike loan to purchase a new vehicle instead of extinguishing your savings:

  1. Periodic Payments

A Two-wheeler loan is easy to pay off, courtesy of the systematic payment structure. This ensures that your short-term goals aren’t compromised while purchasing a new bike.

  1. Better Credit Profile

While you might be tempted to pay off the entire amount at once, a loan helps build your credit profile for the future, thereby increasing your eligibility for personal, car, or even home loans. 

  1. Better Usage of Cash Reserves

If you are worried that a loan might cost you more in the long run, compare and opt for the lowest bike loan interest rates and invest the cash reserves someplace else to get the same or better rates. This approach takes care of the additional payment and helps you plan better in the long run.

  1. Financial Discipline

Recurring monthly payments ensure that you keep up with the financial cycle and learn about the importance of keeping adequate funds in the account.

  1.  Better Buying Options 

If you are on-board with a loan, you can always opt for a better bike as periodic payments wouldn’t overburden you financially.

Paying the bike value upfront is not a bad option at all. However, these reasons ensure that your finances are managed better.  

Additionally, Read:- 

A Complete Guide to Understand Bike Loan Interest Calculation

What Documents Are Required for a Two Wheeler Loan

Bajaj has made it possible for everyone to own their dream bike. With their low-interest loans, anyone can have a bike they want or need. With the rise of the motorcycling culture in India, the lenders should also keep pace as the price of an average bike has now gone up. With foreign brands investing heavily in India, finance companies have got a great future to look ahead to. Nowadays, finance companies offer Two wheeler loan at the lowest interest rates to buy a vehicle.

Here is what you need for applying for a two-wheeler loan –

Eligibility

  • Should be at least 21 years of age

Or 

  • Less than or equal to 65 years at the maturity of the loan
  • Have had a residential address in the city for at least 1 year
  • Salary slips for 1 year must be there
  • Must have a postpaid connection

The documents required for a two-wheeler loan are-

For a Salaried Person

ID Proof – This can be 

  • Passport
  • Pan Card
  • Credit Card with photo
  • Driver’s License
  • Voter ID
  • Aadhaar Card

Address proof – 

  • Passport
  • Driver’s License
  • Voter ID card
  • Utility Bill
  • Aadhaar Card
  • Bank Account
  • Last 3 months salary slips 
  • Form 16
  • Last 3 months bank Statement

For Self Employed People

ID Proof – This can be

Two Recent Passport size photos

Address Proof – This can be 

  • Passport
  • Driver’s License
  • Utility Bill
  • Voter ID card
  • Bank Account Statement
  • Aadhaar Card

Latest Income Tax Return

Last 3 months bank statement

Always use a bike loan calculator to tally your calculation against that of the lender and choose a tenure and EMI that would suit you.

For an online EMI calculator you can use simple steps like select your Loan Amount, Interest Rates and Loan Tenure and get the results in the form of payable EMI’s with interest rates.

Factors To Consider While Comparing Two Wheeler Loan

India is the largest market for two-wheeler automobiles. Recent trends have suggested that more and more people are buying bikes and scooters to commute to work. This is because of the ease of access and how efficient it is to travel on two-wheelers. 

The variety offered is also amazing as now there is a bike available at every price point for every segment and most of the financial institutions offer loans at the lowest interest rates to purchase a bike, that’s why Nowadays, most of the people prefer Two wheeler loan to buy a bike.

Gone are the days when your only choices were a Bajaj Pulsar or a Royal Enfield. Today the KTM and Triumph dominate the market with a stronghold. Despite the growing craze, these machines are costly investments in the future. 

If you want to avail a two-wheeler loan here are the factors that you should keep in mind – 

  • Principal Amount
  • Age
  • Tenure of the Loan
  • Credit Score
  • Financial Statement
  • Type of Employment
  • Current Income
  • Existing Liabilities
  • Repayment Schedule 

Use an online Two wheeler loan calculator to estimate how long your tenure will be with the EMIs you select. To calculate the loan amount you will need

  1. The loan amount that the bank approves. This is denoted by P
  2.  The interest rate that the bank or lender is charging. It is  denoted by a percentage and is compounded annually.
  3. The number of months or years that the loan will be granted for. This is also known as the tenure of the term. It is denoted by N

Bajaj Finance Two Wheeler loans will make your dreams come true with their easily approved and low-interest loans. 

A Guide to Choosing The Best Two Wheeler Loan

When one thinks of two-wheelers more often than not, they are thinking of either bikes or scooters. Newly purchased two-wheelers can last up to 1 lakh kilometers or even more depending on how you take care of them. With the right two-wheeler, you will have the added convenience of swerving through traffic at any time, whether it be to reach work or go out to any destination you feel like. With the independence that one gets with a vehicle, it is easy to have more adventures. 

But many times, these dreams are held back by monetary constraints. Whether it be a lack of funds or anything money related, companies like Bajaj are there to help you out. We provide an Online Two Wheeler Loan at the lowest-interest rates so that your dreams can come true too. Many companies have a long and complicated loan disbursal, but Bajaj has been rectified so that you can have a secure loan experience.

Important things to consider when choosing loan:-

  • Loan Amount
  • Interest Rates
  • EMI
  • Loan Tenure
  • Eligibility Criteria
  • Required Documents

Also, Read:-

5 Reasons To Avail A Bike Loan Instead Of Cash Payment

Things To Consider Before Availing A Two Wheeler Loan

The Two wheeler vehicle is the best mode of transportation. Nowadays, for Two wheeler vehicles purchase most of the people prefered Two wheeler loan instead of one time cash payment. Here are some important things to consider before availing a two-wheeler loan : –

  • Eligibility criteria
  • The maximum loan amount offered
  • Repayment Options
  • Check the loan disbursal time
  • Keep a note of the specialized schemes

Before applying a loan check loan amount, interest rates and loan tenure and keep your documents ready. With Bike EMI Calculator you can easily calculate your bike loan EMI , this is the most important thing for loan.

What is the Process to Getting a Two Wheeler Loan Online?

Over the last few decades, two-wheelers in India has become an essential commodity. They are very fuel-efficient and nimble, making them perfect for the crowded streets of India. However, not everyone in our country can afford to buy a new bike or scooter with a cash down payment. 

For them, a Two wheeler loan is a perfect solution. Applying for this loan is now made much more comfortable with online access that lets you get the loan within a matter of minutes. Before you apply, you should spend some time comparing different offers from lenders to find the one that suits you best. Interest rate, coverage, and repayment options can all vary wildly from one bank to the other. 

Once you have compared the banks and checked your eligibility for the loan, you can apply online for it. You will need to scan the relevant documents and attach them with the form you fill-up. The application usually gets reviewed in a few minutes. If the bank approves the loan, they will credit the money almost instantly into your account. Now all you need to do is go pick up that bike you have been eyeing and enjoy the ride.  

Calculate Bike loan EMI – Bike EMI Calculator

What Is A Zero Down Payment Two-Wheeler Loan?

If you have had problems with saving enough money to buy a bike, then the zero down payment two-wheeler loan might be the ideal solution for you. A down payment is the amount you have to pay from your own pocket when you apply for a loan. 

This loan, however, lets you buy a two-wheeler without having to pay almost anything upfront. If you are eligible for this loan, then the bank will finance the entire cost of the bike. You can pay back the loan over a pre-decided period through EMI. You can apply for the zero down payment Two wheeler loan online, and it takes only a few minutes to get approved. The eligibility criteria for this loan include a minimum salary bracket and an address of a residence where you have stayed for at least a year. 

A good credit score is also essential to apply for this loan. You should be between 21 to 64 years of age to be eligible for a zero down payment two-wheeler loan. This is the easiest way to buy a bike since this puts absolutely no strain on your savings. All you would need to do is pay the EMI diligently and enjoy your new ride.  

Additionally Read:  

Zero Down Payment Two-Wheeler Loan

Guide to Find the Perfect Two-Wheeler Loan


While the demand for bikes is constantly increasing, getting your hands on one of them for yourself isn’t really the easiest task. The most sensible option to go for is getting a bike loan to finance your purchase, while you pay the EMIs over time. However, finding the perfect bike loan isn’t as easy as finding a good bike.

While applying for a bike loan isn’t much difficult, the important parts are the details. You need to research and find a loan that offers the best EMI options to prevent yourself from being overloaded with expenses in the long run.

You also need to set limits. You cannot be breaking all the boundaries for the sole goal of getting your dream bike. You should use a bike EMI calculator to know the amount you would be paying each month. Doing this will help you decide if the load is too much and you need to decrease the amount per EMI and rather increase the number of EMIs.

Before you finalize a loan, go through the various offers that often come along. These might be presents, discount on charges, time-limited offers, etc. You need to be aware of when can you get the best deal on a bike loan.

Finally, you’ve got to pay back as well. So, don’t forget to plan that out. Find a bank that offers adaptable EMI options and look for ways to ease your load as soon as you can. Just keeping these things in mind before applying for a bike loan can help you a lot and save you from facing a lot of trouble in the future.

Additionally Read:

Complete Guide to Find The Perfect Two Wheeler Loan