Bank of Maharashtra Two Wheeler Loan

Bank of Maharashtra Two Wheeler Loan Key Features

Bank of Maharashtra 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 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

About Bank of Maharashtra Two Wheeler Loan

Bank of Maharashtra Bike Advance has gotten fundamental for a person to satisfy his fantasy about purchasing another bicycle at any expense with any monetary asset. The bank is giving an amazing chance by furnishing Bike Advances with the Most minimal Loan costs and Reasonable EMIs.

Factors affecting Two-wheeler Loan Application

There are many factors that affect two-wheeler loan applications. These factors include your eligibility criteria, Interest rates, Credit score and Loan types. These play a  major role in the two-wheeler loan application. If you can’t eligible for the two-wheeler loan application then you can’t avail of the two-wheeler loan. And the interest rates are calculated based on the various factors of the two-wheeler loan application. 

Compare Bike Loan Interest rates of Bank of Maharashtra with other Banks

The interest rates of bike loan for the Bank of Maharashtra is 7.55%. And in SBI the interest rates is 7.50% and in HDFC Bank the interest rates are 7.95%. When compared with SBI the interest rates for the Bank of Maharastra has higher interest rates and when compared with the HDFC Bank the Bank of Maharastra has low interest rates.

Advantages of Bank of Maharashtra Two Wheeler Loan 

  1. Simple and bother freecycle
  2. Snappy Disbursal of Credit Sum
  3. Satisfy your needs by picking the Bike you love
  4. Alluring Pace of Interests
  5. Simple Reimbursement and Prepayment Technique.

Bank of Maharashtra Two Wheeler Loan Eligibility

Your capacity to reimburse the credit is the greatest factor in choosing whether you’ll be qualified or not for the Bank of Maharashtra two-wheeler loan. The following are the main criteria’s:

  • The applicant should be of a minimum of 21 years aged and a maximum of 65 years aged to use for the loan.
  • If you’ve got a mean monthly income of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re eligible for the Bank of Maharashtra two Wheeler loan.
  • Cibil Score features a direct impact on your two wheeler loan eligibility. If you’ve got a high Cibil score, you’ll get the approval for the loan easily.

Bank of Maharashtra 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 Maharashtra 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 Maharashtra Two Wheeler Loan EMI Calculator

The applicant has the choice to understand the EMI’s before availing Bank of Maharashtra Two Wheeler Loan. Thus, you’ll easily check through the link given below:

Two Wheeler Loan EMI Calculator

Bank of Maharashtra Two Wheeler Loan Types

Bank of Maharashtra offers multiple sorts of loans to its customers and you’ve got the choice of selecting one among them as per your requirements. you’ve got the subsequent two options:

  • Two Wheeler Loan – If you would like to shop for a two-wheeler and need to finance it then Bank of Maharashtra has the simplest offer for you. you’ll avail this loan at a beautiful rate of interest of 12%.
  • Super Bike Two Wheeler Loan – If you’re getting to buy a Superbike and are trying to find funds, then this is often the simplest deal available for you at a beautiful two wheeler rate of interest of 11.83%.

Bank of Maharashtra 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 avail for Two Wheeler Loan

You can apply for Bank of Maharashtra Two Wheeler Loan online by visiting Dialabank’s digital platform than:

  1. Fill the essential form for 2 Wheeler Loan
  2. Please await a call from our Relationship Manager
  3. Get personalized assistance and choose the foremost suitable offer that supported your needs.
  4. Enjoy your Two Wheeler.

Bank of Maharashtra Two Wheeler Loan for Top Selling Bikes

Other Available Products from Bank of Maharashtra 

HDFC Personal Loan HDFC Gold Loan HDFC Home Loan
HDFC Credit Card HDFC Car Loan HDFC Education Loan

FAQs for Bank of Maharashtra Two Wheeler Loan

✅ What is Bank of Maharashtra Two Wheeler Loan?

The Bank of Maharashtra Two Wheeler Loan was designed to provide funding for individuals intending to purchase a new two-wheeler. Users can purchase the appropriate mode of transport and enjoy the thrill of biking with the aid of financial assistance from the Bank of Maharashtra.

✅ How can I get Two Wheeler Loan from Bank of Maharashtra?

The applicant needs to comply with the terms and conditions set by the bank in order to apply for the Bank of Maharashtra Two Wheeler Loan. If the customer meets the loan conditions, he or she may visit the branch of the bank or apply for the loan online.

To get help with applying for the Bank of Maharashtra Two Wheeler Loan, you can also visit Dialabank.

✅ How does Bank of Maharashtra Two Wheeler Loan work?

  • It is appropriate for the applicant to be at least 18 years old.
  • For salaried people, last year’s minimum salary must be Rs. 3 lakhs.
  • Applicants should be permanent workers who are paid
  • Applicants may be self-employed / businessmen

✅ What is the Two Wheeler Loan Interest Rate in Bank of Maharashtra?

The interest rate on Bank of Maharashtra is one-year MCLR + 0.75%.

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

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 Two Wheeler Loan Interest in Bank of Maharashtra?

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

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

The maximum loan amount for two-wheelers loan is Rs. 1.25 lakhs.

✅ What is the loan tenure of Bank of Maharashtra Two Wheeler Loan?

Minimum – 12 months
Maximum – 60 months

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

No, Bank can only fund for the 85% of the on-road price of the vehicle.

✅ How much Processing Fee is applicable on Bank of Maharashtra Two Wheeler Loan?

The processing fees 0.25% of the loan amount + Taxes will be charged a processing fee or a minimum of INR 500.

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

Bank of Maharashtra allows the customers to pay the EMIs through three modes.

  1. Standing Instruction (S.I.)
  2. Post-dated cheques (PDCs)
  3. Electronic Clearing Service (ECS)

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

If you wish to repay the full amount of your loan before the end of the tenure period, these fees must be charged. Bank of Maharashtra makes vehicle loan prepayment after payment of 1 EMI with prepayment

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

No, the bank does not insist on getting a guarantor for this loan scheme.

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

  • Visit the Bank of Maharashtra 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 Maharashtra Two Wheeler Loan Interest Online?

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

  • Visit the Bank of Maharashtra 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 Maharashtra Two Wheeler Loan for 3 months?

Bank of Maharashtra 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 Maharashtra Two Wheeler Loan?

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

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

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

Dialabank can provide you with expert assistance for Bank of Maharashtra Two Wheeler Loan, you can reach out to us at 9878981166.

✅ Can I close Bank of Maharashtra Two Wheeler Loan online?

There are multiple ways through which you can close the Bank of Maharashtra 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 Maharashtra Two Wheeler Loan Customer Care Number?

Bank of Maharashtra Customer Care representatives can be contacted at 1800 233 4526.

✅ How can I get NOC from Indian Overseas Bank 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.

Bank of Maharastra Two-wheeler Loan News Snippets

Two-wheelers default on loan repayment for rising

The two-wheeler loan defaults affect the loan repayment. These two-wheeler dealers fear the deal of the two-wheelers. As the two-wheeler loan has various investment rise these loans are used for rising of investment. So lenders are fearing for the two wheeler laon repayment.

Banks are offering various two-wheeler loans

Nowadays banks are offering various two-wheeler loans and these two-wheeler loans are used for availing two-wheelers. And many banks are offering various two-wheeler loans these two-wheeler loans are raised based on the interest rates. as the interest rates are low you can use these two-wheeler loans.

Fincare bank plans to rise two-wheeler loans

The fin care bank is planning to raise the funds for the two-wheeler loans. These two-wheeler loans are based on various interest rates and these factors are based on various factors. 

And in Fincare bank there are various rises of two-wheeler loans.

State Bank of Maharastra declines two-wheeler loans

State Bank of Maharastra is declining the two-wheeler loans. As the two-wheeler loans are declining these banks has various interest rates and banks are declining these interest rates.

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