Your Ultimate Guide to Securing Two Wheeler Financing Easily

Getting around town economically, efficiently, and easily often means having personal transport. For many individuals in India, two-wheeled vehicles such as motorcycles and scooters are the preferred choice. Purchasing a two-wheeler, though, often requires a significant outlay of funds which can be quite unbearable especially for those operating on tight budgets. Thanks to two wheeler finance, owning a motorcycle or scooter has become much easier.

Two Wheeler Finance – An Introduction

Two wheeler finance is a type of loan specially designed to finance the purchase of two-wheelers. It is provided by banks, credit unions, and other financial institutions and generally covers 85% to 95% of the cost of the vehicle. The rest is to be paid by the borrower as a down payment. The repayment is made in installments over a specified period, generally ranging between 1 to 5 years.

Why Opt for Two Wheeler Finance?

Transportation is an essential requirement, particularly in densely populated urban areas, where a two-wheeler can significantly simplify commuting. Instant Two wheeler finance plays a crucial role in making the ownership of such vehicles feasible by allowing the cost to be distributed across manageable monthly or yearly installments. Moreover, opting for this financing option presents an opportunity to strengthen one’s credit score through consistent and timely repayments. By adhering to the repayment schedule, individuals can demonstrate financial responsibility and reliability to lenders, thus improving their creditworthiness over time. This not only facilitates the acquisition of a two-wheeler but also lays the foundation for future financial endeavors. Ultimately, the accessibility provided by two wheeler finance not only enhances personal mobility but also contributes to broader economic stability by fostering responsible borrowing and lending practices within the community.
Understand the Two-Wheeler Loan Interest Rate

One of the most critical factors to consider while applying for a two-wheeler loan is the interest rate. Different financial institutions offer varying two-wheeler loan interest rates, and it’s important to compare these rates before settling for a loan. The rate you get may depend on several factors such as your credit score, the loan amount, the tenure of the loan, and the type of the two-wheeler among others.

Most financial institutions offer two types of interest rate: fixed and floating. A fixed interest rate remains unaltered throughout the repayment period, providing certainty on the amount to be paid. A floating interest rate, on the other hand, varies depending on market trends, which means it can increase or decrease during the loan tenure.

Leverage an EMI Calculator for Two Wheeler Loan

An EMI calculator for two wheeler loan is an online tool that allows you to calculate the monthly installment amount of your two-wheeler loan based on the loan amount, tenure, and interest rate. Leveraging an EMI calculator provides clarity on the amount you’ll need to set aside for the loan repayment each month. It serves to provide transparency and aids in better financial planning.

To use an EMI calculator, enter the loan amount, the tenure of the loan, and the anticipated interest rate. The calculator will automatically compute the monthly installment based on these inputs.

Securing Two Wheeler Finance Easily – Steps to Follow

1. Choose your two-wheeler

The first step is to choose the two-wheeler you wish to purchase. Research online, take test drives, and consider the fuel efficiency, maintenance costs, brand reliability, and overall cost of the two-wheeler.

2. Assess your eligibility

Every financial institution will have certain criteria that you must meet to obtain a loan. Generally, you’ll need to be aged 18-65, have a stable income source, and a good credit history. 

3. Collect necessary documents

These typically include a proof of identity, proof of address, recent salary slips or income proof, bank statements, and sometimes, a copy of your driving licence. 

4. Submit the loan application

After the above steps, you can apply for the loan either online or by visiting the lending institution. After verifying your application and documents, the financial institution will offer a loan agreement outlining the terms and conditions of the two wheeler finance.

5. Pay the down payment

Once the loan is approved, make the down payment to the dealer, and the lender will disburse the loan amount directly to the dealer.


Opting for two-wheeler finance offers a practical way to get a motorcycle or scooter without paying the full amount upfront. Although interest rates and monthly payments add to the cost, a two-wheeler loan is a smart choice for many people. Using the Bajaj Finserv app, you can easily apply for and manage your loan. By making informed decisions and planning carefully, you can achieve your dream of owning a two-wheeler without financial stress. Two-wheeler finance makes buying a bike simpler and lets you enjoy the benefits of personal transportation sooner, improving your daily mobility and convenience.

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