Two Wheeler Loan Fees and Charges
- Nominal Processing Charges
- Quick Approval with Minimum Documentation
- 100% Loans for some Specific Bike Models
- Low Down Payment and No Hidden Charges
Two Wheeler Loan Fees and Charges involve one-time processing charges, document charges and foreclosure charges. The two-wheeler loan processing fee is imposed as a fragment of the sought loan amount when applying for the loan. The document charges are also applied at the time of application and depend on the applicant’s scheme. Nominal foreclosure charges are applied when the loan is closed before the due date.
Go for a two-wheeler loan with lower interest rates and buy your dream bike without straining your pocket. When you apply for a two-wheeler loan with Muthoot Capital, you get to avail yourself of flexible loan tenure, maximum loan disbursement, and interest rates starting from 0.99%.
Charges for Two Wheeler Loan Process
The charges applicable on the loan amount include the following two wheeler loan fees and charges listed below:
- Document Charges – The document charges are also mandatory to be paid before the loan is sanctioned. The charges are applied at the time of the document submission and are nominal. The document charges applied on the two-wheeler loan depend on the scheme the applicant selected.
- Foreclosure Fees – A foreclosure fee is a minimal charge that is applied when an applicant pays the loan before the due date. The foreclosure fee is also identified as a prepayment charge applied when the complete loan is paid earlier than the scheduled repayment tenure.
- Interest Rate – The interest rate charged is paid along with the monthly EMI slated to repay the loan. Muthoot Capital offers interest rates starting at 0.99% for two-wheeler loans.
- Processing Charges – The two-wheeler loan processing fee is applied to the applicant’s overall loan amount and varies between 1 to 4% (varies basis schemes). This charge is paid at the time of application and allows further loan proceedings. The processing charges applied to depend on the scheme the applicant selects.
Eligibility Criteria and Documents for Applying Two Wheeler Loan
- The applicant must either be self-employed or salaried to take the bike loan
- The salaried individual must have a yearly income of 96,000 and a self-employed individual must earn 1,20,000 annually to be eligible for the loan
- The minimum age requirement is 18 years at the time of applying for the loan and the maximum age is 65 years by the time of the loan repayment
- The applicant must have KYC documents while applying for the loan
Documents required at the time of applying for a two-wheeler loan are listed below:
- Valid Identity Proof- Any government issued ID like Aadhar Card, Voters ID Card, Passport or Driving Licence
- Valid Address Proof- Aadhar Card, Voters ID Card, Passport, Driving License or Ration Card can be used
- Valid Income Proof- For income proof Bank Statements, ITR’s, Salary Slips or Form 16
- You must have Asset proof and some recent passport size photograph of yours
Terms and Condition for Two Wheeler Loan Process
Getting a two-wheeler loan with Muthoot Capital is easy, however, you must know the following terms and conditions before applying for the loan.
- Some charges will be applied over the interest rates charged on the specific loan amount like the foreclosure, processing and documentation fee
- The interest will be paid on the principal amount and the loan must be paid in the form of an EMI’s
- The loan amount will be disbursed for a particular tenure and specific interest rates will be charged
- The maximum repayment tenure is set to be 48 months by Muthoot Capital and some nominal foreclosure charges will be applied if the loan is closed before the due date
Muthoot FinCorp Branches
If you have been searching ‘two wheeler loan near me’, we are here to serve you. Find your nearest branch and pay us a visit!
Muthoot FinCorp Ltd.
No 46/423B, 1st Floor, Goodshed Road, Fly Over Jn
Thalassery – 670101
Near Sangamam Auditorium
Muthoot FinCorp Ltd.
Jagannath Shankar Sheth
488/B, Ground Flr, Matru Kripa Building, H Marg
Mumbai – 400002
Near Rajesh Farsan Mart
Muthoot FinCorp Ltd.
No 107, 1st Floor, Wheeler Road
Bengaluru – 560005
Opposite Indian Gymkhana Ground
Find Muthoot FinCorp Two Wheeler Loan Branch near you – Locate Now
Two Wheeler Loan Fees and Charges FAQs
The two-wheeler loan processing fee varies between 1 to 4% (varies basis schemes). on the total loan amount. The processing fee charged highly depends on the applicant's profile and must be paid before the loan is sanctioned.
Yes, buying a bike loan on EMI lets you purchase your dream bike at attractive interest rates, fast processing and minimum paperwork. The loan can be repaid in the form of down payments and manageable pocket-friendly EMI's.
The benefits of a two-wheeler loan include fast loan approval, nominal two-wheeler loan fees and charges, interest rates starting from 0.99%, up to 100% of the bike’s on-road price as the loan amount, hassle-free documentation and access to special schemes.
Apply for a two-wheeler loan online by filling the online application form by Muthoot Capital. After filling the application form, submit the documents, get online approval, and transfer the amount to your bank account.
Blue Soch Stories
First-hand account of customer experiences
Radhakrishnan is a tea/coffee distributor. Initially, he used to distribute tea in the market by walking everywhere. Walking from one place to another place took a lot of time and then he upgrader to a cycle.
Tea / Coffee Distributor
My Name is Ilankovan. I acquired this two-wheeler loans with Muthoot Fincorp which was a trouble-free process. Muthoot assisted me to own this scooter I am contentedly driving this scooter also I pay my dues regularly without any problem.
My name is Rajkumar Sarkar and stay in Laketown, Kolkata. My family includes me, my wife and our son, I have also a small car rental business. My son studies in the school, & I have to drop him and pick him up from the school.
Car Rental Business
My name is Chaaya Sanjay Bilhare, I live in Kasa Ambori Taluka, of Pune District. I own a shop named “Devman” which we started on Gudipadwa (Maharashtrian New Year). I wanted to buy a two-wheeler for my business like this but was unable to buy.