Apply Now

BANK OF BARODA TWO WHEELER LOAN

Bank of Baroda Two Wheeler Loan Details

Bank of Baroda is the third largest bank in India after State Bank of India and Punjab National bank and ahead of ICICI Bank. It was founded in 1908 and is headquartered in Baroda (Vadodara).The bank offers a wide range of customized and specialized services to meet the diverse needs of of its customers, and these services have been categorized into personal banking, business banking, corporate banking, international banking, treasury banking,and rural banking services.

The two wheeler loan helps you to purchase a motorcycle or a scooter of your choice and pay it in equated Monthly Installments EMIs. Here, we talk about all the things above that are quite normal but there is a change in it, now everyone has to get a two wheeler loan with ease..You all think that “how it is possible? To overcome this issue Bank of Baroda came with an exciting opportunity i.e. Bank of Baroda Two Wheeler Loan. This loan is eligible for salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of the Bank of Baroda.

Benefits of Bank of Baroda Two Wheeler Loan

1. No processing fee for staff or ex-staff of Bank of Baroda

2. Salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of BOB

3. Hassle free documentation

4. Can be availed to bus a new bike upto Rs.10 lakh

5. This loan is used to purchase bike for private use 

6. Affordable interest rate start at 11.50% per annum onwards

7. Don't need to pay any pre closure charges

8. Easy monthly installments 

9. Repayment tenure upto 5 years

Fee and Charges of Bank of Baroda Two Wheeler Loan

To apply for a two wheeler loan, you have to pay fees and charges applied by the Bank of Baroda. It covers all charges and fees made by a bank to their customers.The following charges are taken from Bank of Baroda i.e processing fee, prepayment / foreclosure charges etc.

1. Processing fee =  2% of the loan amount (Minimum Rs.1000)

2. Foreclosure charges = NIL

3. Tenure period = 1 year to 5 years

4. Loan amount = Upto Rs.10 lakh

Eligibility Criteria for Bank of Baroda Two Wheeler Loan

Before applying for a loan for two wheeler from Bank of Baroda, you should fulfil all basic eligibility criteria as prescribed by the bank. For the two wheeler loan application the salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of Bank of Baroda are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.

ELIGIBLE 

Salaried, entrepreneurs, professionals, agriculturists, staff or ex-staff of BOB

AGE 

21 years to 70 years

CREDIT SCORE 

Preferred 750

Documents Required for Bank of Baroda Two Wheeler Loan

Any applicant who is going to avail a loan for two wheeler from Bank of Baroda must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

  1. Filled application form

  2. Proforma Invoice

  3. Passport size photograph

  4. Identity Proof 

  • For salaried individuals = PAN card, voter’s ID, passport, Driving license

  • For self employed individuals = PAN card, voter’s ID, passport, driving license

  1. Address Proof

  • For salaried individuals = Utility bills, passport, etc.

  • For self employed individuals = Utility bills, passport, etc.

  1. Income Proof

  • For salaried individuals = Salary slips, IT returns, bank statements

  • For self employed individuals = Bank statements, IT returns, audited financial statements

Compare other banks two wheeler loan Interest Rates

BANKS 

INTEREST RATE 

AXIS Bank Super Bike Loan

9.15% to 15.90%

SBI Super Bike Loan 

Start at 10.65%

HDFC Bank Two Wheeler Loan 

Start at 11.83%

HDFC Bank Super Bike Loan

9.65% to 15%

YES Bank Bike Loan 

10% to 18%

ICICI Bank Two Wheeler Loan 

10% to 26%

IDBI Bank Two Wheeler Loan 

Start at 11.83%

Indusind Bank Two Wheeler Loan 

21% to 29%

Bank of Baroda Two Wheeler Loan 

Start at 11.50%

Bank of India Two Wheeler Loan 

7.75% to 8.35%

Punjab National Bank Two Wheeler Loan

Start at 10.70%

Other products of Bank of Baroda 

1. Bank of Baroda Personal Loan

2. Bank of Baroda Car Loan 

3. Bank of Baroda Home Loan

4. Bank of Baroda Education Loan

How to Apply for Bank of Baroda Two Wheeler Loan

There are two ways to apply for Bank of Baroda Two Wheeler Loan :

1. Offline Method : By visiting the nearest bank branch 

2. Online Method 

  • Firstly visit lenders website or branch from which you want to get loan

  • Fill the application form and read all the term and conditions

  • Attach all required documents with an application form

  • After submitting form lenders will let you know that you eligible or not for the loan

Bank of Baroda Two Wheeler Loan Customer Care

Contact number : 18001024455 / 18002584455

To know the details of your branch please visit : http://bank of baroda.com/locate-us-branch.htm

How to calculate EMI of Bank of Baroda Two Wheeler Loan

The mathematical formula is used to calculating EMI of Bank of Baroda Two Wheeler Loan

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P stands for the loan amount or principal, 

R is the interest rate per month and 

N is the number of monthly installments.

Financials products offered by Bank 

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

Bank of Baroda Two Wheeler Loan Frequently Asked Questions 

1. What is the maximum loan tenure for Bank of Baroda Two Wheeler loan?

The maximum loan tenure is 5 years for Bank of Baroda Two Wheeler Loan.

2. How to apply for a two wheeler loan from Bank of Baroda?

You can apply online or offline for a two wheeler loan from Bank of Baroda.

3. What is the interest rate provided by a two wheeler loan from Bank of Baroda?

The interest rate provided for a two wheeler loan from Bank of Baroda starts at 11.50% per annum.

4. Is, processing fee charged by the Bank of Baroda two wheeler loan?

The processing fee provided by the Bank of Baroda two wheeler loan is 2% of the loan amount (Minimum Rs.1000).

5. What is the maximum loan amount provided by Bank of Baroda for two wheeler loan?

The maximum loan amount is Rs.10 lakh provided by Bank of Baroda for two wheeler loan.

6. How to calculate EMI of Bank of Baroda for two wheeler loan?

The following formula is used to calculate EMI of Bank of Baroda two wheeler loan is EMI = [PXRX(1+R)^N] / [(1+R)^N-1], Where, P stands for Loan Amount, R stands for Interest Rate, N stands for tenure in number of months 

7. What is the minimum and maximum age the customer is required to take a two wheeler loan from Bank of Baroda?

The minimum age is 21 years and maximum age is 70 years is required to take a two wheeler loan from Bank of Baroda.

Last Updated on : 01/Sep/2020

Know More About

Bank Of Baroda Two Wheeler Loan

You're eligible for a Bank Of Baroda Two Wheeler Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Bank Of Baroda Two Wheeler Loan Interest Rates

Updated on 25 Nov 2017

Bank Of Baroda Two Wheeler Loan Details
Interest Rate (Monthly reducing balance) 11.5% - 0%
Processing Fees 2% of the loan amount (Minimum Rs.1000)
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Two Wheeler Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959