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Two-Wheeler Loan in Mumbai
Apply NowTwo-Wheeler Loan in Mumbai
Mumbai never sleeps, and a bike is the best way to zip through its busy streets. Whether for daily rides or weekend fun, a bike beats traffic any day. However, buying one isn’t always easy. That’s where Axis Bank Two Wheeler Loan in Mumbai helps. Buy your dream bike, new or used, without paying all at once. Simple and hassle-free, Bike Loans make riding easy.
Two Wheeler Loan EMI Calculator
From daily commute to weekend escapes, Axis Bank makes your Mumbai ride easy. Get quick Two-Wheeler and Super Bike Loans with seamless processing and flexible tenures and enjoy up to 100%* funding. Calculate your EMI and pick the loan option that works for you.
25K
1Cr
Your EMI* ₹ 1,14,678
Get a call back*Equated Monthly Installment'
Note: To see amortization schedule, please click here.
Total Amount Payable
₹1,37,621
Interest Rates
Know in detail about the rates and charges associated with Two wheeler loans.
Eligibility criteria for Two-Wheeler Loans in Mumbai
| Criteria | Salaried | Self-Employed |
|---|---|---|
| Age | 21 to 58 years | 21 to 65 years |
| Minimum income | ₹1,44,000 | ₹2,50,000 |
| Employment status | Minimum 1 years of experience | At least 1 year in the same business |
| Bank statement | Last 3 months’ bank statement | Last 3 months’ bank statement |
Documents required for Two-Wheeler Loan in Mumbai
- Application form : Fully completed with accurate personal and financial details
- Proforma invoice : Detailing the bike model and its on‐road price, applicable to both new and pre-owned vehicles.
- Passport photographs : Recent images of the applicant (and co-applicant if required).
- KYC documents : Proof of identity (PAN card, Aadhaar card, passport) and proof of address (utility bills, voter ID, driving license, etc.).
- Income proof : For salaried individuals, salary slips, Form 16, or income tax returns; for self‐employed applicants, the last three years' income tax returns and relevant business documents.
- Bank statements : Typically, the last three months’ statements.
Fees & Charges
Two-Wheeler Loan in Mumbai Fees & Charges
Here are the applicable fees and charges for a Two-Wheeler Loan or a Used Bike Loan in Mumbai:
- Interest rate: For loans up to 36 months, the 1‐year MCLR might be around 9.4%, with a spread leading to an effective rate between 15% and 25%. For longer tenures, the effective rate can range from 10.5% to 25%.
- Processing fee: A small percentage of the loan amount; this fee is generally competitive.
- Documentation charges: A nominal one-time fee for handling the paperwork.
- Prepayment charges : A fee may apply if you opt to pay off your loan earlier than scheduled.
- Late payment penalty: Additional charges if you miss an EMI payment.
How to apply for a Two-Wheeler Loan in Mumbai offline?
To apply for a Two-Wheeler Loan or a Used Bike Loan in Mumbai, here are the steps:
- 01
Visit a branch: Head to your nearest Axis Bank branch in Mumbai.
- 02
Request the application form: Request for the Two-Wheeler Loan application form
- 03
Fill in the details: Write accurate personal, employment, and financial information on the form.
- 04
Attach the required documents: Include your KYC documents, income proofs, proforma invoice, and passport photos.
- 05
Discuss terms and conditions: Speak with a loan officer to clarify any queries regarding interest rates, tenure, or prepayment fees.
- 06
Submit the form: Hand over the completed form and documents to the bank representative.
- 07
Follow‐up: The bank will review your application. Upon approval, you will receive a sanction letter with final terms.
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Super Bike Loan
Ride the extraordinary with Superbike Loans tailored for your needs.
Know More Apply OnlineFrequently Asked Questions
Selecting the “best” bank to get a second-hand Two-Wheeler Loan in Bangalore can depend on your unique financial situation, credit profile, and bike preferences. However, Axis Bank is known for offering transparent interest rates, up to 100% on‐road financing for eligible models, and a hassle‐free application process.
Yes, some lenders offer up to 100% financing on the on‐road price for eligible new bikes. However, for a Used Bike Loan in Mumbai, the financed amount may be determined by the bike’s current market value and condition.
Eligibility for EMI-based loans generally requires meeting the minimum age, income, and employment criteria. If your credit score is low, your income is insufficient, or your employment record is unstable, the bank may not approve your application.
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