Axis Bank Two Wheeler Loan | Axis Bank Bike Loan Interest Rate

 

Axis Bank Bike Loan Interest Rate | Axis Bank Two Wheeler Loan | Axis Bank Super Bike Loan | Super Bike Loan Interest Rate

Axis Bank is the third largest private sector bank in India. It was established in 1994 with the approval of the Indian government. It has more than 11,000 ATMs in India and 4000 branches all over the country. It provides various products to its customers, such as credit cards, various types of loan, insurance, etc. The Axis Bank offers two types of loan for two wheelers and superbikes.



Axis Bank Two Wheeler Loan | Axis Bank Bike Loan Interest Rate

Axis Bank Bike Loan Interest Rate : One of its most popular offerings is the Axis Bank 2 wheeler loan. This loan allows you to buy your desired two wheeler without any hassle. The introductory price of the 2 wheeler loan is Rs.25,001 and it can be extended up to Rs.48,000 with a flexible tenor. The amount can be repaid in manageable installments.



Highlight of Axis Bank Bike Loan Interest Rate

Bank NameAxis Bank
Article NameAxis Bank Bike Loan Interest Rate
Article SubjectAxis Bank Bike Loan Interest Rate
Interest Rate10.80% to 28.30% per annum
Loan Amount90% loan
Official WebsiteMore Details…

Axis Bank Bike Loan Interest Rate

You can get an Axis Bank Two Wheeler Loan with cheap interest rates. The Axis Bank Two Wheeler Loan interest rate ranges from 10.80% to 28.30% per annum.

Axis Bank Two Wheeler Loan Interest Rate & Fees

ParticularsDetails
Axis Bank Two-Wheeler Loan Interest Rates(1) For two-wheeler loan – 16.50%* p.a to 24% p.a.
(2) For Super Bike loan – 11% p.a. onwards
Maximum Loan Amount(1) For two-wheeler loan – Up to 100% of the vehicle’s on-road price
(2) For Super Bike loan – Up to 85% of the vehicle’s on-road price
Minimum Loan Amount(1) For two-wheeler loan – ₹25,000
(2) For Super Bike loan – ₹1 Lakh
Minimum Income Requirement(1) For Salaried Persons:
₹1.44 Lakhs p.a. (two-wheeler loan)
₹4.8 Lakhs p.a. (Super Bike loan)
(2) For Self-Employed Persons:
₹2.5 Lakhs (two-wheeler loan)
₹4 Lakhs p.a. (Super Bike loan)
Repayment Tenor(1) For two-wheeler loan – 12-48 months
(2) For Super Bike loan – 12-60 months
Processing FeeUp to 2.5% of the loan amount
Axis Bank Bike Loan Interest Rate & Fees

Axis Bank Two Wheeler Loan EMI Calculator

Axis Bank Bike Loan Interest Rate: You can quickly calculate your EMI using the Axis Bank Two Wheeler Loan EMI Calculator. It is a terrific online tool that may provide you with an answer in a fraction of a second and help you understand the appropriate amount of your EMI.
Here’s the formula for calculating your EMI.

  • P = R x (1+R)^N / [(1+R)^N-1].
  • P represents the loan’s principal amount.
  • R represents the interest rate.
  • N represents the number of monthly payments.
  • Link – More Details…

Axis Bank Bike Loan Features & Benefits

Axis Bank Bike Loan offers two options: a two-wheeler loan and a superbike loan. The following are the advantages and benefits of these loans:

1. Axis Bank Two-wheeler Loan

  • You can take out a loan for a minimum of Rs.25,001.
  • You will have a 48-month flexible payback time to repay the loan amount.
  • You can choose to repay the money in EMIs at your convenience.
  • There is relatively minimal documentation required to obtain the loan.
  • The loan approval process is quick and clear.
  • You will receive a loan-to-value of up to 100% for on-road expenses.
  • Electric vehicles may qualify for a 50 basis point loan rate decrease.

2. Axis Bank Super Bike Loan

  • The loan starts at Rs. 1 lakh.
  • The loan is disbursed quickly and easily.
  • You will benefit from a repayment period of up to 60 months.
  • You can repay the loan in EMIs.
  • The loan follows a minimum documentation procedure.
  • You can acquire a loan-to-value of up to 85% for on-road expenses.

Axis Two Wheeler Loan – Eligibility Criteria

The tables with comprehensive details regarding the requirements for an Axis Bank bike loan are provided below. The tables with comprehensive details regarding the requirements for an Axis Bank bike loan are provided below.

1. Axis Bank Two-wheeler Loan – Eligibility Criteria

Eligibility CriteriaSalaried IndividualSelf-employed Individual
Minimum Age21 years21 years
Maximum Age58 years65 years
Annual IncomeRs. 1.44 LakhRs. 2.5 Lakh
Work Experience1 yearShould have been in the same field of business for at least a year
Axis Bank Two-wheeler Loan – Eligibility Criteria

2. Axis Bank Super Bike Loan – Eligibility Criteria

Eligibility CriteriaSalaried IndividualSelf-employed Individual
Minimum Age21 years21 years
Maximum Age58 years60 years
Annual IncomeRs. 4.80 LakhRs. 4 Lakh
Work Experience2 yearShould have been in the same field of business for at least two years
Axis Bank Super Bike Loan – Eligibility Criteria

Documents Required – Axis Bank Bike Loan Interest Rate

Here is the table listing all of the documents required for the Axis Bank 2 Wheeler Loan.

Salaried IndividualSelf-employed Individual
Signed application formSigned application form
Recent passport size photographRecent passport size photograph
Proof of Identity (PAN card, Voter ID card, Passport, Driving license)Identity proof (PAN card, Voter ID card, Passport, Driving license)
Age proofAge proof
Address proof (Utility bills, Passport, Rent agreement)Address proof (Utility bills, Passport, Rent agreement)
KYC documentsKYC documents
Form 16ITR of previous two years
Proforma InvoiceProforma Invoice
Salary slip of previous three monthsShop & Establishment act certificate
Bank account statement of previous three yearsRegd. lease with other utility bills
Sales tax or VAT certificate
SSI or MSME Registration Certificate
Bank account statement of previous three years
Documents Required – Axis Bank Bike Loan Interest Rate

How to Apply for Axis Bank Two Wheeler Loan?

The Axis Bank Two Wheeler Loan is available for online and offline applications.
The processes to apply for an Axis Bank two-wheeler loan online are as follows.

  • Step 1: Look around the official Axis Bank website first.
  • Step 2: The loan portion of the page will be visible to you. Select the “Two Wheeler Loans” option under the loan section.
  • Step 3: Next, choose ‘Apply Online.’
  • Step 4: As a result, you will be redirected to a new page where you will be required to provide your name, email address, state, city, and cell phone number.
  • Step 5: After that, you’ll be required to agree the terms and conditions and input a captcha.
  • Step 6: Click ‘Submit’ once you have entered all the necessary information.
  • Step 7: A bank customer service agent will then get in touch with you and guide you through the complete two-wheeler loan application process.

Through the Axis Mobile App, you can easily apply for the Axis Bank Two Wheeler Loan.

How to Apply Axis Bank Two Wheeler Loan Offline?

  • You can apply at your nearest Axis Bank location. The bank’s dedicated staff will be available to advise you through the process. The bank has also supplied a hotline number (18004197878) that you can use if you have any questions about the mortgage process.

Axis Two-Wheeler Loan Processing Fees and Charges

Axis Bank Bike Loan ParticularsFees and Charges
Processing FeeUp to 2.5% of the loan amount
Overdue EMI Interest2.5% per month on the unpaid instalment sum
Documentation Charges₹750
PDD Collection Charges₹200
Stamp Duty and Statutory ChargesAt actuals
Cheque Bounce Charges₹339 per case
Instrument Swap Charges₹500 per case
Duplicate Statement Issuing Charge₹250 per case
Duplicate Repayment Schedule Issuing Charge₹250 per case
Loan Agreement Photocopy Issuing Charge₹250 per case
Loan Cancellation/Rebooking Charges₹550
Foreclosure Charges5% of the outstanding principal amount
Penal Interest2% p.m.
Axis Two-Wheeler Loan Processing Fees and Charges

Benefits of Availing an Axis Bank Two-Wheeler Loan

  • Funding for Different Types of Bikes – Axis Bank two-wheeler loans offer financing choices for a variety of new two-wheelers. Thus, whether you want a 500cc motorcycle or an eco-friendly electric vehicle, Axis Bank auto loans have you covered.
  • Minimal documentation and quick approvals – You can apply for an Axis Bank two-wheeler loan online using only a minimum set of KYC documents. Once verified, your loan amount will be issued within a few days. This streamlined method makes applying for a two-wheeler loan simple and straightforward.
  • There’s no need to worry about margin requirements. With an Axis Bank bike loan, you won’t have to compromise on the type of bike you desire simply because you don’t have enough down payment. Axis Bank’s normal two-wheeler loan arrangement provides up to 100% funding for your new bike. This means you won’t have to pay margin charges out of pocket.
  • Plan Ahead with No funds Loss – Axis Bank’s two-wheeler loans allow you to purchase your dream bike without depleting your funds. You can divide the loan amount into manageable bite-sized instalments and repay them over a flexible period of 12-60 months. To plan ahead and avoid overburdening your monthly payments, utilize the Axis Bank EMI calculator to select a suitable loan period.

Axis Bank Contact Details

  • If you have any questions or concerns about an Axis Bank 2-wheeler loan, you can contact the bank at its toll-free customer care numbers 1860-419-5555/1860-500-5555 or visit your nearest bank location for instant assistance. Alternatively, you can send your inquiries to loans@axisbank.com.

Usefull links Axis Bank Bike Loa

30,000 रुपये का लोन के लिए / For loan of Rs 30,000यहाँ क्लिक करें / Click Here
55,000 रुपये का लोन के लिए / For loan of Rs 55,000यहाँ क्लिक करें / Click Here
1,00, 000 रुपये का लोन के लिए / For loan of Rs 1,00,000यहाँ क्लिक करें / Click Here

FAQ’s of Axis Bank Bike Loan Interest Rate

Que.1 What is the maximum tenor of the Axis Bank bike loan?

Ans.1 The Axis Bank Bike Loan has a maximum tenor of up to 60 months.

Que.2 How can I check my bike loan status in Axis Bank?

Ans.2 You can visit the Axis Bank official website or download the Axis Bank Mobile App to check your bike loan status.

Que.3 Is age an eligibility factor to get a two wheeler loan from Axis Bank?

Ans.3 Yes, age is an essential eligibility factor. The bank has different age criteria for salaried and self-employed people.
Salaried Person:
The minimum age should be 21 years, and the maximum should be 58 years.
Self-employed Person:
The minimum age should be 21 years, and the maximum should be 65 years.

Que.4 Are there any processing fees for Axis Bank two-wheeler loans?

Ans.4 Yes. Axis Bank can charge up to 2.5% of the loan amount as a processing fee for sanctioning a bike loan.

Que.5 Can I prepay the Axis Bank bike loan?

Ans.5 Yes. You can prepay your Axis bank bike loan after 12 EMIs

Que.6 Does Axis bank charge the same interest rate for bike and super bike loans?

Ans.6 No, the interest rates for a bike and a superbike loan are not the same. Axis Bank charges interest on bike loans ranging from 10.80% per annum to 28.30% per annum, while superbike loans carry interest ranging from 9.25% per annum to 16.00% per annum.

Disclaimer – Axis Bank Bike Loan Interest Rate

Under no circumstances is the information provided above intended to be a source of advice, recommending any financial advice or endorsing any product of any kind. Instead, it is merely informational and relates to Non-Partnered Banks/NBFCs. This information was provided by Loaninfoguj. Be sure to consult your financial advisor before taking the loan.

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