Bank of India Two Wheeler Loan

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Bank of India Two Wheeler Loan Features

SBI Two Wheeler Loan Interest Rate 11.83%* per annum
Min Loan Amount ₹ 10,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 4 years
Lowest EMI / Lac ₹ 2,625
Minimum Net Monthly Income Salaried – ₹ 7,000, Self Employed – ₹ 6,000
Age Criteria 21 years(At Application) to 65 years(At Loan Maturity)
Types of Vehicle For All New Two-Wheelers (Bikes, Superbikes, etc.)
Processing Fee Up to 3% of the Loan Amount.
Foreclosure Charges 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months)
Basic Documentation ID Proof, Address Proof, Bank Statement

Bank of India Two Wheeler Loan

Bank of India Two Wheeler Loan has gotten fundamental for an individual to fulfil his dream about buying another bicycle at any cost with any money related resource. Bank of India is giving a staggering possibility by giving Two Wheeler Loans Lowest Interest Rates and Affordable EMIs.

Advantages of Bank of India Two Wheeler LoanBank of India Two Wheeler Loan

Two Wheeler Loan is a regular need and has become a noteworthy bit of our life. Various people need to visit better places, and they require a bike for that, as time is key for every one of us. A huge part of the school going understudies need a cruiser, as here and their vehicles may not open at the timings of school. Here is the credit is given by Bank of India for purchasing Two Wheelers at sensible expenses and straightforward Process.

  • Value the upside of incredibly low-interest charges.
  • Quick Disbursal of Loan Amount
  • Versatile EMI portion elective on any day of the month.
  • Moderate Rate of Interests
  • Basic Repayment and Prepayment Methods

Bank of India Two Wheeler Loan Eligibility

Your ability to repay the credit is the best factor in picking whether you’ll be qualified or not for the Bank of India Two Wheeler Loan. Coming up next are the noteworthy standards:

  • An individual between the age of 21 to 65 years can apply for the development.
  • If you have a typical month to month compensation of Rs 7000, you’re equipped for the Bank of India Two Wheeler Loan advance.
  • Cibil Score straightforwardly influences your capability for development. If you have a low cibil score, the chances of your application being excused are high.

Bank of India Two Wheeler Loan Interest Rate, Fees and Charges

Interest Rate Starts at 11.83% p.a.
Processing Fee Up to 3% of the loan amount (maximum)
Prepayment Charges From 3% to 10% of the outstanding principal
Pre-payment charges Within 4 to 6 months – 10% of principal outstanding
Within 7 to 12 months – 6% of principal outstanding
13-24 months – 5% of principal outstanding
Post 24 months – 3% of principal outstanding
Prepayment is not allowed within three months of EMI repayment

Bank of India Two Wheeler Loan Documents Required

1. Salaried Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

2. Self-Employed Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

Bank of India Two Wheeler Loan EMI Calculator

The applicant has the decision to understand the EMI’s before profiting Bank of India Two Wheeler Loan. In like manner, you can without a very remarkable stretch check through the association underneath:

Two Wheeler Loan EMI Calculator

Bank of India Two Wheeler Loan Types

Bank of India offers various types of credits to its clients and you have the choice of picking one of them according to your necessities.

Bike Loan – If you wish to purchase a bike and wish to back it then Bank of India has the best recommendation for you. You can benefit this improvement at a drawing ahead of time cost of 12%.

Super Bike Two Wheeler Loan – If you’re hoping to purchase a Superbike and are searching for holds, by then this is the best strategy accessible for you at an engaging financing cost of 11.83%.

Bank of India Two Wheeler Loan Pre Calculated EMI

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

How  to Apply for Bank of India Two Wheeler Loan

  • You can apply for Bank of India Two Wheeler Loan online by visiting Dialabank’s online door.
  • Fill the  Application Form for Two Wheeler Loan
  • Our Relationship Managers will associate with you at 9878981166
  • Get changed assistance and pick the most legitimate offer dependent on your necessities.

Bank of India Two Wheeler Loan for Top Selling Bikes

Other Available Products from Bank of India

Bank of India Bank Personal Loan Bank of India Bank Gold Loan Bank of India Bank Home Loan
Bank of India Bank Credit Card Bank of India Bank Two Wheeler Loan Bank of India Bank Education Loan

FAQs for Bank of India Two Wheeler Loan

✅ What is Bank of India Two Wheeler Loan?

Bank of India’s two-wheeler loan is offered to customers which they can use for the purchase of both new and second-hand bikes as well as for superbikes. The interest rates are attractive and the documentation process is simplified. Under the BOI Star Vehicle loan scheme, you can get a loan for 2 Wheelers.

✅ How can I get a Two Wheeler Loan from Bank of India

To get a Two Wheeler Loan from Bank of India, customers need to visit the website or branch office of the bank and match the eligibility criteria set by the bank for the loan

You can also visit Dialabank to get assistance to apply for the IDFC Bank Two Wheeler Loan.

✅ How does Bank of India Two Wheeler Loan work?

Bank of India Two Wheeler loan is offered to Salaried employees, Professionals, Self-employed Non-Resident Indians, and other types of corporate entities.

The application for Bank of India Two Wheeler loan requires the following paperwork

  • Signed loan application form
  • Passport Sized Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof – Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months payslip, bank statement of 3 months showing salary credit and any EMI debit

✅ What is the Two Wheeler Loan interest rate in the Bank of India?

Bank of India Two Wheeler Loan can be availed at an interest rate starting at 7.75% and going up to 8.35%. The rates are expected to fluctuate depending upon the loan factors.

✅ How to check Two Wheeler Loan status in Bank of India?

To check the loan status you can do any of the following:

  • Visit the Bank’s Branch Office.
  • Check online on the Bank’s website.
  • Contact customer care.

✅ How to calculate the Two Wheeler Loan interest in Bank of India?

To calculate the interest rate for Bank of India Two Wheeler Loan visit Dialabank.

✅ What is the maximum loan amount I can avail on Two Wheeler Loan from Bank of India?

Bank of India offers to pay 100% of the Ex-showroom price of the Two Wheeler. The maximum amount allowed for a two-wheeler loan is up to Rs 50 Lakh.

✅ What is the Loan tenure of Bank of India Two Wheeler Loan?

Minimum – 12 Months.

Maximum – 60 Months.

✅ Can I get 100% Two Wheeler Loan from Bank of India?

Yes, users can get a 100% amount as a loan for the Two Wheeler from the Bank of India, but the on-road price of the vehicle may include other charges like insurance, processing fee, etc which the user has to bear.

✅ How much processing fee is applicable to Bank of India Two Wheeler Loan?

Bank of India charges a Processing Fee of 1% of loan amount; Rs.500 minimum and Rs.10,000 maximum

✅ What are the EMI options available on Bank of India Two Wheeler Loan?

Bank of India allows the customers to pay the EMIs of the loan within the maximum period of 60 months through two modes.

  1. Online Payment
  2. Post-dated cheques (PDCs)

Online payment is one of the safest and easiest modes of payment as the customer needs not to submit PDCs in a timely manner.

✅ What are the charges for Prepayment in Bank of India Two Wheeler Loan?

Bank of India does not charge any fee for the prepayment of the loan.

✅ Can I get a top-up loan on my existing Bank of India Two Wheeler Loan?

Yes, you can get a new loan on your existing Two wheeler loan. The EMIs will be calculated according to the total amount of both the loans. You can also choose to keep the EMIs separate.

✅ Do I need to provide a guarantor to avail of a Two Wheeler Loan from Bank of India?

A third person guarantor is not compulsory for the Two Wheeler Loan. However, if some conditions are not met a guarantor may be required or hypothecation of Two-Wheeler to be purchased.

✅ How to get Bank of India Two Wheeler Loan Statement?

  • Visit the Bank of India website and log in from your account
  • Check the loan status and download the statement
  • The statement can also be downloaded through a mobile application

✅ How to Pay Bank of India Two Wheeler Loan Interest Online?

Customers can pay the interest amount on the Bank of India website. To do so

  • Visit the Bank site, log in, enter the amount, and select your bank.
  • Login to Your Bank’s Website Net Banking.
  • Confirm Payment.
  • Receive Confirmation.

✅ What if I can’t pay the interest on Bank of India Two Wheeler Loan for 3 months?

Bank of India provides the customers with the option to go for a moratorium in case they fail to pay interest for 3 months.

✅ How can I apply for EMI Moratorium on Bank of India Two Wheeler Loan?

Customers can apply for the EMI moratorium by contacting the bank.

  • SMS or e-mail.
  • IDFC Bank’s website.
  • Visiting the nearest bank branch.

✅ What is the number for the Bank of India Two Wheeler Loan agent?

Dialabank provides you expert assistance for Bank of India’s Two Wheeler Loan, you can reach out to us at 9878981166.

✅ Can I close the Bank of India Two Wheeler Loan online?

There are multiple ways through which you can close the Bank of India Two Wheeler Loan:

  1. Go to the bank website and apply for loan closure.
  2. Apply for loan closure through the mobile application.
  3. Visit the nearby bank branch.

✅ What is Bank of India Two Wheeler Loan Customer Care Number?

Bank of India Customer Care representatives can be contacted at 1800 220 229.

✅ How can I get NOC from Bank of India for Two Wheeler Loan?

Once your loan is closed, the bank will issue a NOC within 3 working days and send it on your registered Email Id. A physical copy of the NOC can also be issued as per the customer’s demand.

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