Bajaj Finance Two Wheeler Loan Interest Rate

The major concern before borrowing any type of loan is the interest rate chargeable on the loan amount. Similarly, when a person is borrowing a Two Wheeler Loan, it is important to be aware of the current interest rate. You must know the fact that Bajaj Finance Bike Loan gives you up to 95% value of the bike as a loan but it also charges a certain rate of interest. So, the Bajaj Finance Two Wheeler Loan Interest Rate is 6.2% to 13.8% per annum and you can negotiate it with the institution if you have a healthy relationship. Let’s move on to the interest rate and other charges that might incur while boring the 2 Wheeler loan from Bajaj Auto Finance.

Bajaj Auto Finance Two Wheeler Loan Interest Rate

In the table given below, you can go through the interest rate that will apply to the loan. There are also some other charges that you might have to pay at the time of availing of the personal loan.

Particulars Charges
Minimum Rate of Interest6.2% per annum
Maximum Rate of Interest13.8% per annum
Processing Fee1% to 3%
Foreclosure Charges3% of the Principal Loan Amount
Partial Foreclosure ChargesNIL
Loan Statement RequestNIL
Statement Printing INR 118 per Instance
Duplicate NOC ChargesINR 295
Late Payment Charges3% of the Unpaid EMI + GST
Instalment Bounce ChargesINR 531
Vehicle Repossession ChargesINR 3540
Change in EMI DateINR 590
Vehicle Parking ChargesINR 59 per day
Swapping Repayment ModeINR 590

How the Rate of Interest on Bajaj Auto Finance is Determined

There are some factors that affect the rate of interest. Due to the involvement of the below factors, you can get a two wheeler loan at a low or a high rate of interest.

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Income

If you have a high income and a good loan repaying capacity then you can negotiate on the rate of interest with the institution. The institution might reduce the two-wheeler loan interest rate if you are having a stable income and a good capacity to repay the loan on time without any delay.

Cibil Score

Cibil Score is also one of the important factors to determine the rate of interest. Bajaj Finance will ask you for a Cibil Score of at least 750 or above so that you can get a quick disbursal. On the other hand, you can ask the institution to reduce the Bajaj Two Wheeler Loan Interest Rate if you have a high Cibil Score of 800 and above.

Repayment History

Your repayment history matters a lot while the institution is determining the Rate of Interest. If you have done the repayments of the previous loans on time then it might help you to negotiate on the rate of interest with the institution.

Relation with the Institution

Old customers always receive the best deals on any type of debt. Similarly, if you are a loyal customer of the institution and borrowing a two-wheeler loan then you will get the best possible rate of interest on the Bajaj Auto Finance Two Wheeler Loan.

Frequently Asked Questions

1. What is the existing rate of interest of the Bajaj Finance Two Wheeler Loan?

2. What is Bajaj Auto Finance 2 Wheeler Loan Interest Rate in 2022?

Currently, in 2022, the Bajaj Finance Two-Wheeler Loan interest rate is 6.2% onwards per annum. The maximum rate of interest on this loan is 13.8% per annum.

3. What is the Interest Rate on INR 1 Lac loan?

If you are borrowing a loan of INR 1 lac then the interest rate on this amount will be from 6.2% to 13.8% per annum.

4. What is the Interest Rate on INR 1.5 Lacs loan in Bajaj Two Wheeler Loan?

The interest rate on INR 1.5 lacs loan is 6.2% to 13.8% per annum. The exact rate of interest will be decided on the basis of your income and Cibil Score.

5. What is the Interest Rate on INR 2 Lacs loan in Bajaj 2 Wheeler Loan?

An interest rate of 6.2% to 13.8% will be chargeable if you are borrowing a two-wheeler loan of INR 2 lacs from Bajaj Auto Finance.

6. What is the Customer Care Number of Bajaj Auto Finance Two Wheeler Loan?

The customer care number of Bajaj Auto Loan is +91-7219821111 and it is available from 9 AM to 8 PM from Monday to Saturday.

7. How can I Negotiate on the Bajaj 2 Wheeler Loan Interest Rate?

You can negotiate on the Bajaj Auto Loan Interest Rate on the basis of your income and Cibil Score. If you have a high income and excellent Cibil Score then you will get the two-wheeler loan at an affordable rate of interest.

8. What is the tenure for the 2 wheeler bike loan?

9. Will I have to pay any processing fee while applying for the loan?

Yes, a processing fee of 1% to 3% will be charged at the time of disbursal of the Bajaj Auto Finance Bike Loan.

10. How I Can take the NOC after repaying the loan?

You will just have to clear all the dues and ask the institution for the NOC. The validity of the NOC will be for 90 days.

Conclusion

So, the Bajaj Finance Two Wheeler Loan Interest Rate is 6.2% to 13.8% per annum. You can borrow the same loan at an interest rate of 6.2% if you have a high Cibil Score and a high income. But the rate of interest on the Bajaj 2 wheeler loan will keep on increasing if you have a low Cibil Score and a low income. Therefore, before you apply for the loan, you must full fill the factors that determine the rate of interest.

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