If you are planning to buy a two-wheeler with the help of a loan, you should first check the loan products available in the market. Compare the loans based on interest rates, processing fees, eligibility criteria, repayment tenure, loan to value (LTV) ratio, charges, etc. Banks generally fund up to 90 per cent of the value of the bike. The rest, 10 per cent, is the down payment you will have to pay. Therefore, it would be wise to take the help of an equated monthly instalment (EMI) calculator to know if it is affordable for you. Also, before applying for a loan, do check your credit score. A score below 750 is considered poor and may result in your loan application rejection, or you will have to take a loan at a higher interest rate. A score above 750 may help you get a loan at a lower interest rate. If you want to take a two-wheeler loan, the table below lists ten banks offering the lowest interest rate. The table only includes the lowest advertised rates for each of the banks mentioned below.
| Bank Name | Interest Rate (On Loan Of Rs. 1 Lakh) Per Annum |
| Bank Of India | 6.85% |
| Central Bank | 7.25% |
| J&K Bank | 8.45% |
| Punjab National Bank | 8.65% |
| Punjab & Sind Bank | 8.80% |
| Canara Bank | 9.00% |
| Axis Bank | 9.00% |
| Union Bank | 9.90% |
| Indian Overseas Bank | 10.05% |
| Yes Bank^^ | 10.39% |
Disclaimer: Interest rate on two-wheeler loan for all listed (BSE) Public & Pvt Banks considered for data compilation (except foreign and small finance banks). Banks for which data is not available on their website are not considered. Data collected from respective bank’s website on Apr 12, 2022. Top 10 Banks are listed in ascending order on the basis of interest rate i.e. bank offering lowest interest rate on two wheeler loan is placed at top and highest at the bottom. Lowest interest rate offered by the banks on two wheeler loan is shown in the table, irrespective of loan amount and tenure. Interest mentioned in the table is indicative and it may vary depending on bank’s terms and conditions. ^Rack Interest Rate; ^^Min APR during Q3 FY 2021-22.
