Axis Bank Two-Wheeler Loan
Axis Bank two-wheeler loans come with an interest rate ranging from 10.50% to 25.00% p.a.
The minimum loan amount required under this program is Rs. 25,001, and the maximum loan repayment term is 60 months.
Table of Contents
- Axis Bank Two-Wheeler Loan Interest Rate
- How to Apply for Axis Bank Bike Loan Online?
- Axis Bank Two-Wheeler Loan EMI Calculator
- Axis Bank Two-Wheeler Loan Eligibility Criteria
- Super bike loan
- Documents Required to Apply for Axis Bank Two-Wheeler Loan
- Minimum and Maximum Tenure for Axis Bank Two-Wheeler Loan
Axis Bank Two-Wheeler Loan Interest Rate
Category | Details |
Interest Rate | 10.50% - 25.00% |
Minimum Income |
Super Bike Loan
|
Repayment Period | Up to 36 months |
Processing Fee | Up to 2.5% pf Loan Amount(LA) |
Prepayment Charges | Not allowed |
Compare with: Lowest two wheeler loan interest rate
How to Apply for Axis Bank Bike Loan Online?
When looking to avail a bike loan from Axis Bank, you can apply for it online or by visiting a branch of the bank. To apply online, you need to follow the process mentioned below:
- Visit the official website of the bank.
- Select 'Two-Wheeler Loans' under the loans section.
- Click on 'Apply Online'.
- On doing so, you will be redirected to a new webpage.
- Enter details like name, email ID, mobile number, state and city name along the captcha code.
- Next, accept the terms and conditions and click on 'Submit'.
- Thereafter, proceed as per the instructions displayed on the screen.
Axis Bank Two-Wheeler Loan EMI Calculator
You can use the two-wheeler loan EMI calculator provided by BankBazaar to determine the amount you would be paying as EMI. You only need to click "Calculate" after entering the loan amount you want to take out, the interest rate, the repayment period, and the processing fee. You will be given the EMI amount and amortisation information.
Axis Bank Two-Wheeler Loan Eligibility Criteria
The eligibility for availing a bike loan from Axis Bank depending on the type is listed below:
Two-Wheeler Loan for Salaried
- Should be aged between 21 and 58 years
- Minimum annual income should be Rs.1.44 lakhs
- Should have minimum experience of 1 year
- 3 months bank statement
For Self Employed
- Age should be between 21 and 65 years
- Should have a minimum yearly income of Rs.2.5 lakhs
- Should be the same line of business for a minimum of 1 year
- 3 months bank statement
Super bike loan
For Salaried
- Must be between 21 and 58 years of age
- Should have annual income of Rs.4.8 lakhs
- Must have 2 years of work experience
For Self Employed
- Should be aged between 21 and 60 years
- The yearly incomes should be Rs.4 lakhs
- Must be in the same line of business for at least 2 years
Documents Required to Apply for Axis Bank Two-Wheeler Loan
Two-wheeler loan for Salaried
- Passport size photograph
- KYC documents
- Latest salary slips
- Latest Form 16
- Proforma Invoice
- Bank account statement for the last 3 months
- Proof of age
Two-wheeler Loan for Self Employed
- Passport size photograph
- KYC documents
- Proforma Invoice
- Proof of business
- Proof of age
- Latest ITR
- Bank account statement for the last 3 months
Super Bike loan for Salaried
- KYC documents
- Passport size photograph
- Proforma Invoice
- Bank account statement for the last 3 months
- Proof of Income
- Proof of age
- Sign Verification proof
- Employment continuity proof
Super Bike Loan for Self Employed
- Passport size photograph
- Proforma Invoice
- KYC documents
- Proof of business
- Proof of Income
- Proof of age
- Sign Verification proof
- Proof of business continuity
- Bank account statement for the last 3 months
Minimum and Maximum Tenure for Axis Bank Two-Wheeler Loan
The minimum and maximum tenure to apply for Axis Bank two-wheeler loan are as follows:
Two-Wheeler category | Minimum Tenure | Maximum Tenure |
Two-wheeler | 12 months | 48 months |
Super bike | 12 months | 60 months |
Related Articles on Two-Wheeler Loan
FAQs on Axis Bank Two Wheeler Loan
- What are the foreclosure charges?
The foreclosure charge is 5% of the outstanding loan amount.
- What is the penal interest?
The penal interest is 2 percent per month.
- Does the bank charge the same interest rate for bike loan and super bike loan?
No, there is a difference in the interest rates for bicycle loans and superbike loans. Overall, the interest rates charged for superbikes and two-wheelers will be between 10.50% and 25.00% per annum.
- What does two-wheeler loan mean?
As the name implies, a two-wheeler loan is an advance created especially to assist you in obtaining additional finances while purchasing your car. You will need to select a two-wheeler financing option from the available options depending on the sort of two-wheeler you desire to purchase. For example, if your bike is under 500cc, you can apply for a two-wheeler loan; but, if your bike is beyond 500cc, you must apply for a superbike loan.
- What are the various benefits of Axis Bank two-wheeler loan?
The various benefits of Axis Bank two-wheeler loan include little documentation needed to process the loan, flexible tenure for repayment of the loan, and customization of loan amounts according to the customer.
- Is it possible to get a the loan for the entire value of the vehicle?
Yes, assuming the loan comes into the two-wheeler loan category, you can obtain a bike loan to cover the entire value of your vehicle. We provide loans for two-wheelers and superbikes, respectively. In two-wheeler loans, if the bike's total value is less than 1,000,00, you will receive 100% of the cash for the bike's road costs.
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