Two-Wheeler Loan

Check out the various two-wheeler loans available to you if you’re looking to take out a loan to buy a motorcycle.
Take a look at some of the banks that can provide you with these loans. Interest rates, processing fees, and EMIs are all factors to consider. Continue reading to discover the best solution for you.

Two-Wheeler Loan Interest Rates for All Banks

TWL Banks Interest Rate Loan Amount Processing Fees
State Bank of India 16.65% to 18.40% p.a. Rs.20,000 to Rs.3 lakh 2.00% of the loan amount + GST (minimum of Rs.1,000)
HDFC Bank 14.50% p.a. onwards Contact the bank 2.5% of the loan amount
Punjab National Bank 9.55% p.a. onwards Up to Rs.10 lakh 0.5% of the loan amount subject to Rs.500 to Rs.1,000
Union Bank of India 10.80% onwards Up to Rs.10 lakh Contact the bank
Axis Bank 12.00% to 23.00% p.a. Rs.25,001 onwards 2.5% of the loan amount

          Home Loan FAQ

          Here are some of the important features and benefits of home loan:
          Flexibility to choose a tenure: Most banks give you the flexibility to choose your home loan tenure, which generally ranges from 15 – 30 years. The tenure you choose directly impacts the EMI you pay every month.
          Comparatively cheaper than personal loans: The rate of interest on home loans is generally lower in comparison to the personal loans. This is because home loans are generally secured loans whereas personal loans are unsecured loans.
          It’s an option that allows a borrower to pay only the interest amount on the disbursed home loan until the construction of the property is completed. This means if a borrower opts for pre-EMI, he/she will not have to pay the principal amount until the property is ready for possession. Thus, once the property is ready, the pre-EMI payments will end and the EMI payments will start.
          Check out some of the most common types of home loans available from banks and financial institutions:
          Home loan for purchase: Most commonly available, this type of loan is for purchasing a residential property, whether it is a resale home, a ready-to-move-in home or an under construction home.
          Home loan for construction: This loan is available only for construction of a house and is offered to those who own a piece of land.
          Home loan for renovation: This can be availed for making renovations or improvements to an existing home.
          Bridge home loan: This loan is availed by those who are looking to upgrade their homes to bigger or better ones. Such a loan helps meet shortage of funds that arises due to time lag between sale of existing home and purchase of new one.
          Step up home loan: Designed primarily for young salaried professionals, this home loan helps you avail a bigger amount as compared to your eligibility under regular home loans. Also, under these loans, the EMIs are kept lower during initial years.
          Balance transfer home loan: This facility allows you to transfer your existing home loan from one lender to another for the purpose of taking advantage of better interest rates.