How to Choose the Right Two Wheeler Loan Based on Interest Rates?
May 29, 2025 | 4 mins read
As a leading Two Wheeler Loan company in Chennai, we make financing bikes under 1.5 lakh or scooter under 1 lakh effortless. Our digital-first approach ensures minimal paperwork, quick approval and doorstep service—whether you seek a super bike loan Chennai or a daily commuter
| Features & Benefits | Description |
|---|---|
| Minimal paperwork | Apply for a Two Wheeler Loan digitally with minimum documentation |
| Accessible service | Nationwide dealerships for personalised and convenient support |
| Loan tenure | Choose a repayment tenure of up to 5 Years |
| Maximum funding | Get up to 100%* funding of the on-road price |
Our Two Wheeler Loan calculator in Chennai helps you estimate monthly instalments. Enter loan amount, bike loan interest rate in Chennai and tenure to view EMIs instantly
| Type | Criteria |
|---|---|
| Residency | Indian resident |
| Age requirement | 21 Years to 65 years |
| Profession | Salaried or self-employed Individuals |
| Document Type | Required Document & Checks |
|---|---|
| Photo ID Proof | PAN and any one of the following- Aadhaar Card | Driving License | Passport | Voter ID | Job card by NREGA | Letter issued by the National Population Register containing details of name and address |
| Address Proof | Utility bills (not older than 2 months | Aadhaar Card | Driving License | Passport | Voter ID etc |
| Income Proof | Bank statement (Optional. Based on loan requirement) |
List of all fees and charges for Two Wheeler Loan
| Type | Interest Rate and Charges |
|---|---|
| Processing Fees | Up to 6% of Loan amount |
| *Varies based on the Asset & Scheme opted by the Customer | |
| ECS / NACH Charge | 0 to Rs 1500/- |
| Document Charge | 0 to Rs 1500/- |
| Penal Charge/Late Payment Charges (LPC): | 2% per month on overdue EMI + applicable taxes |
| *LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023 | |
| *Taxes applicable on LPC w.e.f. 1st Apr 2024 | |
| EMI Dishonour/Bounce Charge* | As shown in the table below |
| *A bounce charge is a charge for (i) dishonour of any repayment instrument; or (ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate | |
| Loan sanction amount (in INR) | Charges in (in INR) |
| < ₹ 5 Lakh | ₹ 500 |
| ₹ 5 Lakh - ₹ 50 Lakh | ₹ 1000 |
| > ₹ 50 Lakh – ₹ 2 Crore | ₹ 1500 |
| > ₹ 2 Crore | ₹ 2000 |
| Foreclosure Charges | 5% of principal outstanding + applicable taxes |
| Legal /Recovery /Repo /Parking & other Charges | As per actuals |
| Duplicate NOC Charges (Charge is applicable for paper copy post 3 free copies per customer) | Rs 250/- + applicable taxes |
| Repayment Swap Charges (per swap) | ₹ 500/- + applicable taxes (applicable only for branch walk-ins) |
| Charges for documents like Statement of Account/Repayment Schedule /Foreclosure Letter & Welcome Kit | Nil |
| Loan Cancellation Charges | Rs.1500/- |
*Terms & Conditions Apply. All actual charges will be as per Key Fact Statement (KFS) shared by the company.
Apply for a Two Wheeler Loan online in Chennai
1. Apply online in just few minutes
Click on the "Apply Now" button within the Two Wheeler Loan section and fill out the form with your personal details and loan requirements
2. Get assistance from our representative
Our loan representative will contact you, and share all the available loan offers with dealership details, nearest to your location
3. Eligibility and document verification
Visit the dealership, where our representative will check your eligibility and documents to proceed with your loan
4. Drive your Two-Wheeler home
After approval, your loan amount will be directly disbursed to the dealership for a seamless purchase process
A good CIBIL score is required for bike loans and is recommended for quick approvals.
Yes—our Two Wheeler Loan in Chennai covers daily commuters, electric bikes and super bikes.
With minimal paperwork, approval is often granted within minutes after you submit a digital application.
You need to provide a photo ID proof, address proof and an optional income proof based on your loan requirement.
You can choose a repayment tenure of up to 5 Years for your loan.
Our bike loan interest rate in Chennai are competitive, varying by your profile, loan amount and tenure.
Yes. We offer zero down payment bike loans in Chennai, subject to eligibility.
No guarantor is needed for most profiles; approvals depend on income, credit history and documentation.
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