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Two Wheeler Loans

Two Wheeler Loans

Securing the two-wheeler you desire is now more straightforward than before with the Two Wheeler Loan from Axis Bank. We provide up to 100% financing on the vehicle's on-road price, requiring only minimal documentation and offering manageable EMIs tailored to your budget. As its name indicates, a Two Wheeler Loan is a specialised financial solution intended to assist in acquiring your desired two-wheeler.

What are the advantages of taking a Two-Wheeler Loan?

Apart from you getting to buy your dream bike through a bike loan, some of the biggest advantages of taking a two-wheeler loan from Axis bank include:

  • The flexible and long tenure of repayment. For two-wheeler loans, we have a repayment tenure from 12 to 48 months. For superbike loans, we have a repayment tenure from 12 to 60 months.
  • Attractive and affordable bike loan interest rates. Our two-wheeler loan interest rates range between 10% to 28% per annum, depending on the loan amount, tenure, engine capacity, bike model/ variant, and other features.
  • A bike loan with minimal documentation and a hassle-free online application process.
  • Up to 100% on-road funding for two-wheelers and 85% on-road funding for superbikes.  

Tips for a successful Two-Wheeler Loan application

When you apply for a two-wheeler loan, there is no guarantee that the lender will approve of it, especially if you’ve gone about it wrong. Sometimes, two-wheeler loan applications get rejected for specific reasons that are completely avoidable. To avoid rejection and ensure your two-wheeler loan application is a success, here are some steps you can take:

  • Ensure you are applying for the correct loan amount. If the bike model you are taking a loan for is lesser or more than the loan amount, your loan application may get rejected.
  • Check the two-wheeler loan interest rates beforehand to know what you’re getting from the loan. You can use a bike loan calculator to understand the bike loan interest rates.
  • Check your credit score beforehand. A credit score is a crucial aspect of loan applications, and any credit score below 650 is not a good sign. Talk to your financial agent to find ways to increase your credit score if needed.
  • Fill out your loan application form correctly. Do not leave it incomplete or add incorrect details. Proofread it before submitting it. Make sure you also check the eligibility criteria and the documents needed beforehand.  
  • Get a financially stable co-applicant or co-guarantor to co-sign the loan along with you for higher chances of acceptance.

Do's and Don'ts of applying for a Two-Wheeler Loan

While applying for a two-wheeler loan, here are some dos and don’ts that will make the process easier:

How to apply for a Two-Wheeler Loan online?

At Axis bank, it is easy to apply for a two-wheeler loan online. All you have to do is:

  • Step 1

    Visit our portal and go to the Two-wheeler loans section or click here

  • Step 2

    Click on apply now 

  • Step 3

    Enter your mobile number and date of birth or PAN number 

  • Step 4

    Select your state and city and the two wheeler model 

  • Step 5

    Enter your details attach the relevant documents requested  

  • Step 6

    Choose the bike loan amount and the tenure of repayment

  • Step 7

    Submit the details to proceed ahead to avail instant sanction*

  • Frequently Asked Questions

    Depending on the type of vehicle you're interested in, you'll need to select the appropriate loan variant. For instance, for bikes up to 500cc, a standard Two Wheeler Loan would suffice. However, for models exceeding 500cc, a Superbike Loan is a suitable option. loan.

    The Interest rates for Two Wheeler Loans range between 10.80%-28.30%, depending upon various factors including the applicant’s details and the amount and tenure for which the loan is sought. Please note however that these interest rates are subject to change periodically, at the bank’s discretion. You can check the current interest rates for two wheeler loans.

    You can apply for Two Wheeler Loans by:

    • Calling the dedicated helpline No. 18004197878
    • Applying online on or via the Axis Mobile App. Interested in a two-wheeler loan? Begin your application process now!

    The eligibility criteria for two wheeler loans depends upon the applicant’s nature of employment and income:

    For Salaried Individuals:

    • You must be over 21years but below 58 years
    • You must have at least a year’s work experience
    • Your minimum annual income must be over Rs. 1.44 Lakh
    • You must share bank statements for the past 3 months while applying

    For Self Employed Individuals:

    • You must be over 21 years but below 65 years
    • You must have completed at least a year in the current line of business
    • Your minimum annual income must be over Rs. 2.5 Lakh
    • You must share bank statements for the past 3 months while applying

    The minimum tenure for two wheeler loans is 12 months while the maximum tenure is 48 months.
    The minimum tenure for super bike loans is 12 months while the maximum tenure is 60 months.

    While helping you with a financial boost to realise you two wheeler dream a two wheeler loan with Axis Bank also provides you with benefits such as:

    • Minimal Documentation for processing your loan
    • Customised loan amounts: depending upon your need you can opt for a loan from Rs. Rs. 25,001 up to 100% * on-road funding
    • Flexibility of tenure: You can set the repayment of your loan over a tenure ranging from 12 to 48 months for two wheeler loans and a tenure ranging from 12 to 60 months for super bike loan.

    Any pre-payment/excess amount paid by you to the Bank; shall be appropriated in the loan account basis the below criteria/methodology in the absence of any specific instructions from you:

    1. Excess amount greater than (>) EMI: If service request (SR) for part payment is not created/received within 2 days of receipt of funds, the excess funds will be adjusted towards principal outstanding as part payment.
    2. Excess amount equal to (=) EMI: If service request (SR) / instructions for part payment is not created/received on same day of receipt of funds, excess amount will be refunded to your operative account.
    3. Excess amount less than (<) EMI: Excess amount will be kept unappropriated in the Loan account for 15 days. Post 15 days, the excess funds shall be adjusted towards principal outstanding as a part payment.
    4. Excess amount equal to (=) or greater than (>) foreclosure / pre-closure amount : In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account and:
      1. Excess amount is equivalent (=) to the foreclosure amount, Loan account will be proactively closed by the Bank.
      2. Excess amount is greater than (>) the foreclosure amount, adjustment in Loan account would be as follows:
      1. If excess amount is up to INR 20,000, Loan account would be closed by the Bank and after closure, excess funds would be credited to the Loan repayment account.
      2. If excess amount is greater than INR 20,000, the Bank will connect with you telephonically for verification of payment. Alternatively, you may connect with the Bank on 18604195555 to confirm the credit adjustment in your Loan account.
    5. Excess amount less than (<) the foreclosure amount: In case no instructions are placed by you at the Loan Centre / Phone Banking within 3 working days from the date of credit in Loan account, then excess amount will be adjusted against the outstanding principal, leaving an amount equivalent to one EMI for forthcoming EMI presentation. However, in case you would like the entire amount to be adjusted against the outstanding principal, please place a request at Phone Banking / Loan Centre at the earliest.
    Yes, you can get a bike loan to fund the total value of your vehicle, provided it falls under the two-wheeler loan category. We offer two types of bike loans – two-wheeler loans and superbike loans. In two-wheeler loans, you get 100% on road funding to fund the total value of your bike if it is less than ₹1,00,000.   
    A two-wheeler loan prepayment is the payment of the entire loan amount (principal + interest rate) before the due date or expiry of the two-wheeler loan. Prepayment helps clear your outstanding debt towards the bike loan and frees you from paying further interest. You also get peace of mind knowing your two-wheeler finance obligations get cleared. However, prepayment often comes with a penalty charge ranging between 2% to 5% of the total loan amount.
    Most first and second-hand bike loans are unsecured loans and don’t require the pledging of collateral for the lender to issue the bike loan. However, if you want the option of choosing the lowest two-wheeler loan interest rates, you can apply for bike loans that are secured and require collateral. The lender will decide if the collateral is appropriate for pledging. 
    It would be difficult but not impossible to get a bike loan if you are a student. At Axis Bank, anyone below the age of 21 years cannot get a bike loan. So, if you are a student above 21 years of age, the second condition is that you must have some source of income of at least ₹1.44 lakh per year. If not, you can get a co-guarantor or co-applicant with a stable income source to get the bike loan online/offline. 
    Yes, you can get a two-wheeler loan online. In fact, it is easier and time-saving to apply for two-wheeler loans online. The process hardly takes a few minutes. Before you apply for bike loans, check your two-wheeler loan eligibility criteria and get your documents ready in hand. 
    The minimum credit score to get a two-wheeler loan is 600 to 750. There is no fixed credit score, and the requirements vary from bank to bank. However, it is advisable to maintain a credit score within this range to get a two-wheeler loan at low-interest rates.

    Disclaimer : *The instant sanction of funds is post submission of the online application form.