Ride Your Way To Freedom With A Two-Wheeler Loan!
Enjoy the freedom of commuting or exploring with your new bike. Our flexible loan options, competitive interest rates, and hassle-free process make owning your dream two-wheeler easier than ever.
Two Wheeler Loan EMI Calculator
VehicleBazaar Helps People in Mumbai Get Two-Wheeler Loans
Mumbai is India’s business hub, and people come from around the world and the city to visit. One of the biggest problems Mumabikers have is communicating. Gettieasyoter or bike on loan in Mumbai is relatively easy, which can make getting around town easier. Get a loan for a two-wheeler in Mumbai from a vehicle bazaar. With the loan, you can pay for your two-wheeler over time, which keeps your cash from running out. After you repay the loan, the papers will be changed into your name, and you will own them.
Features & Benefits
Eligibility Criteria Required for Two Wheeler Loans in Mumbai
The two-wheeler loan eligibility is simple. It would help if you met the following qualifying rules for taking a bike loan in Mumbai.
Two Wheeler Loan Eligibility Criteria
- Salaried or self-employed persons.
- Age between 18 (at the time of application) and 65 (at the end of the loan tenure)
- Minimum net amount of Rs. 96000/- per annum for salaried profile
- Minimum net profit of Rs. 1,20,000/- per annum for self-employed profile
Documents Required for Two-Wheeler Loan in Mumbai
- identity proof: Any one of passport / Aadhaar card / voter ID card / driving license / PAN card
- Address proof: Any passport / Aadhaar card / voter ID card / driving license/telephone bill/electricity bill/gas connection bill/ration card/ LIC policy.
- Income proof: ITR / form 16 / pay slip/salary credit in bank statement.
- Asset proof: Latest land/building / house tax receipt.
How To Apply For Two Wheele Loan?
Vehicle & personal details
Please provide the details of the motorcycle you are interested in and your personal profile.
Loan match
We match your motorcycle interests with dealer options to find the best fit. No effect on your credit score!
Get approved
Approval might take anywhere from 2 hours to 2 days, depending on the lender you select.
Pick up your motorcyle!
This is when it gets fun. Search for private sellers or motorcycle retailers, or ask Vehicle Bazaar to assist you in finding your new bike!
Get an Instant Loan Approval on your Vehicle
Frequently Asked Questions
Why is a Two Wheeler Loan from VehicleBazaar a good idea?
The following reasons make our Two Wheeler Loan perfect for you: Paying back the loan quickly, getting approved on the spot, and having low interest rates are all benefits. Just follow a few easy steps to fill out your information, and our lending partners will get back to you with good deals.
How much can I borrow to buy my bike?
Finance can be obtained up to 90% of the two-wheeler’s retail price.
What's the point of using VehicleBazaar to get a bike loan?
To help you buy a bike, we offer fast, custom-fit bike loans from India’s best and most reliable companies. After submitting the form just once, you will receive loan quotes from our banking partners that offer up to 100% financing on certain cars, flexible repayment terms, and easily manageable monthly instalments. If you have not decided on a bike, you can use our platform to look through famous and new types.
What kinds of paperwork do I need to get a two-wheeler loan?
You can apply online for a quick two-wheeler loan acceptance with your PAN card number. But for the chosen lender to finalize your bike loan application, you must send them your KYC documents. These include proof of who you are and where you live now, a copy of your PAN card, bank statement, and proof of income in Form 16/Salary Slips/ITR. After you apply with us, your loan consultant will be able to tell you precisely what you need.
How long do I have to pay back the bike loan?
Most lenders give bike loans for terms of one to three years. You can pick the loan term that works best for you. A few other companies also offer up to 5-year bike loans.
How much will interest be on a bike loan?
The interest rate is mainly based on the loan amount’s capital and how long it is being repaid. Lenders’ interest rates usually range from 10% to 15% annually.
How does my credit report affect the BikeWale process for getting a two-wheeler loan?
A credit report tells lenders about your financial situation and how likely you are to repay a loan. This lets lenders look at your credit past and give you loan quotes with reasonable rates. If your credit score is 750 or higher, you have good credit and can quickly get a loan.
How much do you charge for loans?
Based on rates that are occasionally approved. Different manufacturers and dealers offer discounts that change the interest rates on loans.
Is it possible to pay off the whole loan early?
Yes, it is possible at a small pre-closure rate, which is up to the bank’s choice.
How is the interest calculated or charged?
Interest is based on a weekly amount that goes down.
What is a monthly balance that is going down?
The monthly reducing balance method lowers the principal at the end of each month, and interest is calculated on the remaining principal.
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