With the crowded roads of India, a two-wheeler can offer you a great deal of flexibility and practicality. Whether you're looking for a simple way to navigate the city or embark on an adventure with your companions, there's a two-wheeler to suit every need. Thanks to Piramal Finance, you can now receive up to 100%* financing for your two-wheeler at highly competitive interest rates. Additionally, you can easily apply for a Personal Loan through Piramal Finance online with minimal documentation. Pre-approved employees can even receive immediate disbursal of their Two-Wheeler Loan amount.

Features & Benefits of a Two Wheeler Loan

Competitive Interest Rates

When deciding on your personal loan EMI, it's crucial to consider the interest rate. At Piramal Finance, we provide competitive interest rates that ensure our loan applicants have reasonable EMI amounts for their tenure. You can now obtain your bike loan with interest rates beginning at 12.99% p.a.

Collateral-Free Loan

We understand that obtaining a personal loan can be necessary in certain situations. That's why we don't ask for collateral during the application process. However, we do need some information and verification of your identity, address, and income to proceed with your loan application.

Paperless Loan Application

Obtaining a two wheeler loan is now more convenient than ever before! Piramal Finance provides a fully online application process that can be completed from your home. With our entirely digital experience, you can meet your financial requirements without complications. Our straightforward and effortless process guarantees that your loan process is seamless and worry-free.

Flexible Repayment Option

Piramal Finance offers repayment options tailored to your needs. You can choose a shorter loan term with a higher monthly installment or a longer one with a lower installment. The loan term can be customized according to your liking, with options ranging from 1 year to 5 years.

Instant Disbursal

Rest assured that your bike loan amount will be processed swiftly and efficiently. Once you submit your application and all the required documents, our team will immediately initiate the verification process. This process typically takes between a few minutes to an hour to complete. Assuming everything is in order, we will approve your loan immediately. Once the loan has been approved, you can expect to see the funds deposited directly into your account within 24 hours.

Documents Required for Availing a Two-Wheeler Loan

Are you applying for a two wheeler loan? Below are some documents you must submit as part of the loan process.

Document Type	For Salaried Individuals

ID Proof	Aadhaar card, driving license, passport, pan card, voter id
Residence Address Proof	Aadhar card, voter id, utility bills, driving license
Office Address Proof	Not applicable

Income Proof

Bank account statement of salary account, salary slip of the last three months, form 16

Fees and Charges for A Bike Loan

Get a two wheeler loan at competitive interest rates. Below is a table of our fees and charges.

Two Wheeler / Bike Loan Features & Fees	Details

Bike Loan Interest Rates	12.99%* p.a. onwards
Loan Amount	₹ 25,000 to ₹ 5,00,000
Processing Fees	Up to 5% plus applicable taxes
Loan Tenure	3 - 60 months
Prepayment Charges	₹ 0
Foreclosure Charges	₹ 0
Stamp Duty	At actuals (as per state)
Cheque Bounce Charges	₹ 500 plus applicable taxes
EMI Bounce Charges	₹ 500 plus applicable taxes
EMI Pickup/Collection Charges	₹ 250 per visit plus applicable taxes
Change of Loan Repayment Mode	₹ 500 plus applicable taxes

Loan Cancellation after Disbursement

Interest accrued & due plus applicable taxes

Get Bike Loan at Lower Interest Rates

Piramal Finance offers bike loans with highly competitive interest rates, beginning at 12.99% p.a. The interest rates are calculated according to various factors such as age, employment status, and credit score. Examining these factors closely is important to determine the best interest rate that suits your needs.

Age

To be eligible for a two wheeler loan, you must fall within the age bracket of 21 to 60. Younger applicants are often seen as more financially responsible and may be able to secure lower interest rates. In contrast, older adults aged 50 to 60 may be offered higher interest rates due to the perceived risk of being unable to make timely payments.

Employment Status

If you're considering applying for a bike loan, it's crucial to have a reliable and steady source of income. This not only enhances your chances of being approved for the loan but can also lead to lower interest rates. Generally, individuals employed in the government, private, or PSUs are more likely to receive loans faster and with better rates due to their consistent and timely incomes. This reduces the risk of defaulting on repayments and offers added security for both the borrower and the lender.

Credit Score

Your credit score is an important factor in getting a good interest rate on a loan. A higher score means you're more likely to be viewed as a reliable borrower, which can result in a lower interest rate. For example, you might get a better deal if your CIBIL score is 750 or higher. Nevertheless, it's important to remember that Piramal Finance provides competitive interest rates to everyone, regardless of their credit scores.