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Indore is a bustling city with an increasing demand for personal mobility. Whether you want to purchase a scooter under ₹ 1 Lakh or explore bikes under ₹ 1.5 Lakh and above, L&T Finance provides a trusted and accessible Two Wheeler Loan in Indore. With flexible EMI options, minimal paperwork, and a digital-first approach, L&T Finance ensures that residents of Indore can easily ride home their dream two-wheeler, be it electric, commuter, or a superbike.
Before applying, you can check your estimated monthly instalment using the Two Wheeler Loan EMI calculator . This helpful tool lets you enter the loan amount, interest rate, and tenure to see how much EMI you'll need to pay. You can easily plan your Bike Loan in Indore using this online calculator.
The Two Wheeler Loan interest rate in Indore starts with EMI as low as ₹ 2199 per Lakh* with L&T Finance . Your final rate will depend on:
A good credit history with a good CIBIL score can help you get a lower interest rate and faster approval.
| 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 2% of the loan amount + applicable taxes |
| Documentation and repayment setup fee | ₹ 1,750/- + applicable taxes |
| Facilitation Fee | Up to 2% of loan amount + applicable taxes |
| 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 |
| Repayment instrument swap charge (per swap) | Rs. 500/- + applicable taxes (applicable only for branch walk-ins) |
| Charges for documents like Statement of
Account/Repayment Schedule /Foreclosure Letter & Welcome Kit | Nil |
| Statement or document retrieval charges | Duplicate NOC: ₹ 500/- + applicable taxes (Charge is applicable post 3 free copies) |
| 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 |
| Statement or document retrieval charges | Duplicate NOC: ₹ 500/- + applicable taxes (Charge is applicable post 3 free copies) |
| Loan Cancellation fee | Rs. 2000/- + applicable taxes |
| Legal fees and charges | Up to ₹ 30,000/- + applicable taxes |
| Recovery charges | Up to ₹ 15,000/- + applicable taxes |
| Auction fees | Up to 1% of auction sale amount + applicable taxes |
| RC non submission charge | ₹ 1,000/- per month post 120 days + applicable taxes |
| Field collection service charge | ₹ 500/- per collection + applicable taxes |
Apply for Home Loan with these steps
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
You must be an Indian resident aged 21 to 65 Years, with a stable income as a salaried or self-employed individual.
No, a guarantor is not required if you meet the standard eligibility and documentation requirements.
You can choose a repayment tenure of up to 60 months* based on your loan eligibility.
The Two Wheeler Loan interest rate in Indore starts with EMI as low as ₹ 2199 per Lakh*, based on your credit profile and loan details.
Yes, a foreclosure charge of 5% of the principal outstanding plus applicable taxes is applicable.
Yes, L&T Finance offers Two Wheeler Loans for electric bikes and scooters as well.
A good credit score is preferred for better loan terms and faster processing.
Loan approval may take a few working hours* after successful document verification and eligibility confirmation at the dealership.
Yes, eligible applicants may get up to 100%* financing of the on-road price, depending on the vehicle type and credit score.
You need to provide PAN, Aadhaar or address proof, passport-size photo, and bank statement if required.
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