Two Wheeler Loan – Unlock Your Dream Ride.
Gear up for endless adventures on your dream bike with a two-wheeler loan. Get 100% on-road financing for up to Rs 3.5 lakh. Rate starts from 14% p.a.
Calculate Your Two Wheeler Loan EMI
Best NBFC for Two Wheeler Loan – Instant Bike Financing.
A two-wheeler loan offers you the freedom to buy a bike or scooter without paying the full cost upfront. You can use the loan to finance your purchase and repay through easy monthly EMIs.
Hero FinCorp, a top-rated NBFC, offers 100% on-road financing for up to Rs 3.5 Lakh. With quick approval through instant decisioning and interest rates starting from 14% p.a., owning a bike has never been easier.
Whether you are salaried or self-employed, you can access this loan. Flexible repayment tenures of up to 60 months make it an ideal choice for first-time buyers, low-income earners, and students alike.
Take the first step to purchasing your dream ride. Use the Two-Wheeler Loan EMI Calculator to compare instalments across tenures. Then apply online or through a Hero MotoCorp dealership with minimal documentation.
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Types of Two Wheeler Loan for Every Rider.
Two-wheeler loans are available in different types, depending on the purpose they serve. Knowing them can help you make an informed decision.
Outlined below are the various types of two-wheeler loans:
Commuter Bike Loan
A commuter bike prioritizes comfort, utility, and low maintenance over speed. With heavy traffic and rising petrol prices, commuter bikes have turned into a necessity for everyday transportation. They offer a convenient means for daily commutes, whether running errands or riding to work.
A commuter bike loan enables you to instantly purchase a new bike and repay the loan through monthly installments. This loan elevates your daily travel without you having to bear the burden of a full upfront payment.
Scooter Loan
Scooters are more than a means of commuting. They offer an unbeatable combination of convenience and efficiency while you navigate through tight traffic.
A scooter loan allows you to purchase a new scooter through affordable EMIs. It offers a simple and easy solution to your commuting problems. It also helps to reduce your transportation costs. Overall, the scooter loan paves the way for owning a smart ride without dipping into your savings.
Sports & Premium Bike Loan
Sports and premium bikes have an appeal of their own. Designed for performance and precision handling, they offer the thrill of aggressive acceleration. Packed with advanced technology and aesthetic appeal, they command a high budget.
This is where a sports and premium bike loan can help you. With this loan, you can finance the bike of your dreams. Choosing the right tenure can help you repay the loan through pocket-friendly EMIs. In other words, you can leverage the loan to ride the streets in style.
Electric Two-Wheeler Loan
An electric two-wheeler is designed to simplify everyday travel and reduce daily commuting costs. With advanced features, low maintenance, and zero petrol bills, it serves as a smart ride.
An electric two-wheeler loan can help you buy an electric scooter or bike without worrying about the cost. The availability of on-road financing and flexible tenures makes it easy for you to own the vehicle and repay through manageable monthly EMIs.
Zero Down Payment Bike Loan
Most bikes require a down payment when purchasing them on a loan. A zero-down-payment bike loan allows you to drive home a bike without paying anything upfront.
When you opt for this loan, the lender finances 100% of the vehicle's on-road cost. You can take immediate ownership of the vehicle and repay the cost in fixed monthly installments. This loan is an ideal financing option if you need to buy a bike urgently but lack the funds.
Step-by-Step Guide on How to Apply for a Two Wheeler Loan.
With Hero FinCorp, applying for a two-wheeler loan is simple. You can choose to apply online or through a dealership. It takes a few minutes to complete the loan application and receive an approval decision.
Here are the steps to apply for a two-wheeler loan:
Confirm your eligibility. Use the EMI calculator to plan repayment.
Apply through the website, loan app, or a Hero MotoCorp dealership.
Share your identity, address, and income documents for verification.
Receive loan approval in minutes through instant decisioning.
On disbursal, complete the purchase and ride your bike home.
Find Out
If You Are Eligible.
Getting a two-wheeler loan from Hero FinCorp is easy. To be eligible, you must meet a few basic requirements.
The eligibility criteria for a two-wheeler loan at Hero FinCorp are as follows:
| Criteria | Requirement |
|---|---|
| Age | At least 18 years |
| Citizenship | Indian citizen residing in India |
| Applicant Type | Salaried or self-employed individuals, including first-time buyers, students, and low-income earners |
| Work Experience | Minimum one year |
| Minimum Monthly Income | ₹10,000 per month |
| Loan Amount | Up to ₹3,50,000 or 95% of the bike's market value, subject to lender policy |
Interest Rates and Charges for Two Wheeler Loans.
Hero FinCorp offers competitive interest rates for two-wheeler loans, starting at 14% p.a. The rate offered to you depends on your CIBIL, monthly income, vehicle category, loan tenure, city tier, and lender-borrower relationship. Knowing about the interest rate and other applicable charges enables you to calculate the total cost of your loan.
Here is an overview of the rates and charges applicable to a two-wheeler loan:
| Fee / Charge | Details |
|---|---|
| Interest Rate | Starting from 14% per annum (up to 36% p.a.) |
| Loan Amount | ₹10,000 to ₹3,50,000 |
| Loan-to-Value (LTV) | Up to 95% of the bike's cost (100% on-road financing may be available) |
| Repayment Tenure | 6 to 60 months |
| Processing Fee | One-time charge based on the approved loan amount |
| Foreclosure / Prepayment | Applicable as per the terms and conditions of the loan agreement |
Two Wheeler Loan EMI – Tenure-Wise Breakdown.
Understanding your EMI is essential for financial planning. It helps you pick the right tenure and keep the loan easily manageable.
The table below shows an indicative EMI for Rs 2 Lakh and Rs 3 Lakh two-wheeler loans at 14% p.a. across tenures:
| Loan Amount (₹) | Tenure (Months) | Interest Rate (p.a.) | Monthly EMI (₹) | Total Interest (₹) | Total Amount Payable (₹) |
|---|---|---|---|---|---|
| 2,00,000 | 12 | 14% | 17,957 | 15,484 | 2,15,484 |
| 2,00,000 | 24 | 14% | 9,603 | 30,472 | 2,30,472 |
| 2,00,000 | 36 | 14% | 6,836 | 46,096 | 2,46,096 |
| 2,00,000 | 48 | 14% | 5,465 | 62,320 | 2,62,320 |
| 2,00,000 | 60 | 14% | 4,654 | 79,240 | 2,79,240 |
| 3,00,000 | 12 | 14% | 26,936 | 23,232 | 3,23,232 |
| 3,00,000 | 24 | 14% | 14,404 | 45,696 | 3,45,696 |
| 3,00,000 | 36 | 14% | 10,253 | 69,108 | 3,69,108 |
| 3,00,000 | 48 | 14% | 8,198 | 93,504 | 3,93,504 |
| 3,00,000 | 60 | 14% | 6,980 | 1,18,800 | 4,18,800 |
Disclaimer: EMI figures are approximate at the 14% starting rate. The actual rate (14%–36% p.a.) and EMI depend on your profile. Use the Two-Wheeler Loan EMI Calculator on the website for a precise estimate.
Factors Affecting Two-Wheeler Loan Interest Rate.
When you apply for a two-wheeler loan, lenders evaluate your application based on a few factors. These factors impact the interest rate on your loan.
Here are the factors that impact a two-wheeler loan interest rate:
- Credit Score
- Monthly Income
- Loan Tenure
- City Tier
- Category of Vehicle
- Lender-Borrower Relationship
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Frequently Asked Questions.
The two-wheeler loan tenure depends on the lender. Hero FinCorp offers a flexible repayment period of 6 to 60 months for two-wheeler loans, enabling you to plan your repayment.
Hero FinCorp provides instant online approval of two-wheeler loans through its website and mobile app. The processing speed depends on verification requirements and the documents submitted.
Yes. Hero FinCorp offers the option of two wheeler loan prepayment. You can prepay the loan in keeping with the foreclosure terms in your agreement.
Yes. Lenders consider your CIBIL score or credit score to determine your creditworthiness. A good credit score can help you get a two-wheeler loan approval quickly. It also improves your chances of getting a lower interest rate.
A zero-down-payment bike loan is a financing option that enables you to purchase a two-wheeler without making any upfront payment. Hero FinCorp offers this loan. However, the loan amount may be lower, or the interest higher. Review the terms and conditions before applying.
The processing time for a two-wheeler loan can take anywhere from a few hours to a few days. It varies based on the documentation submitted and the eligibility criteria met.
No. Lenders require proof of income to determine your repayment capacity. Whether you are salaried or self-employed, you must submit proof of income to get a loan for a 2-wheeler.
The two-wheeler loan eligibility criteria vary across lenders. At Hero FinCorp, you must be at least 18 years old and have a regular source of income to be eligible for the loan.