Bank of Baroda Two-Wheeler Loan

Features and Benefits of Bank of Baroda Two-Wheeler Loan

The features and benefits of Bank of Baroda's two-wheeler loan are as follows:

1. Can be availed to buy a new bike of up to Rs.10 lakh with repayment tenure up to 60 months.
2. Processing charges are minimal
3. Interest rates are affordable
4. No pre-closure charges.
5. No processing charges for staff or ex-staff of Bank of Baroda
6. Hassle-free documentation

Bank of Baroda Two-Wheeler Loan EMI Calculator

You can easily calculate what your Equated Monthly Instalment will be on your two-wheeler loan using the free online two wheeler loan emi calculator on Bank of Baroda's official website. To do this, the Bank of Baroda and navigate to the section on two-wheeler loans (under Vehicle Loans). On the page, click on 'EMI Calculator'.

Use the sliders given on the page to adjust the figures for your loan amount, rate of interest, and loan repayment tenure. Your EMI will be displayed instantly on the page with a graph showing you what your total amount, principal amount, and interest amount will be.

Knowing your EMI amount will help you to budget your finances and plan better, which will make it easier and stress-free to pay your EMIs regularly and consistently.

Bank of Baroda Two-Wheeler Loan Eligibility

1. The minimum age of the applicant should be 21 years and the maximum age of the applicant should be 70 years after the completion of repayment tenure.
2. The following are eligible for a two-wheeler loan from Bank of Baroda:
   1. Salaried individuals
   2. Entrepreneurs
   3. Professionals
   4. Agriculturists
   5. Staff or ex-staff of Bank of Baroda
3. The two-wheeler purchased with the loan amount should be new and bought for personal use only.
4. Income based eligibility criteria:
   1. The average of the last three months' Gross Monthly Income (GMI) is considered for salaried individuals.
   2. The average of the last two years' GMI is considered for non-salaried individuals.
5. Repayment capacity-based eligibility criteria:

Total deductions including proposed EMI should not exceed the following:

Find: Two Wheeler Loan Eligibility

How to Apply for Bank of Baroda Bike Loan?

To apply for a bike loan from Bank of Baroda, follow the steps given below:

Step 1: Visit the official Bank of Baroda website

Step 2: In the main navigation tab, click on 'Vehicle Loans'

Step 3: Select 'Two Wheeler Loan'

Step 4: Click on the 'Apply Now' button on the page

Step 5: Enter the required details on the next page

Step 6: A Bank of Baroda will get in touch with you regarding your application

You can also visit your nearest branch to apply for the two-wheeler loan directly.

You can also visit BankBazaar.com for your two-wheeler loan. The advantage of applying for a bike loan on BankBazaar is that you get to compare and choose different loans from different banks and choose the one that suits your budget and requirements the best.

Documents Required for Bank of Baroda Two-Wheeler Loan

These are the documents required to apply for a bike loan from Bank of Baroda:

General Documents

1. Signed and duly filled in application form
2. Three passport size photographs
3. Proof of age (birth certificate/driving license/passport/PAN card/life insurance policy/school-leaving certificate)
4. Proof of residence (utility bills/voter ID card/driving license/valid passport/notarized registered rental agreement/updated bank account statement or passbook)
5. Bank statement for the last 6 months
6. Bike quotation

For Self-employed

1. Income tax returns of the last 2 years, Traces, 26AS
2. Computation of income, balance sheet, profit and loss account for the last 2 years
3. IT assessment, income tax challans, TDS certificate, Form 16A, Form 26AS of the last 2 years
4. Proof of business (registration certificate/gomasta license/service tax registration, etc)

For Salaried Employees

1. Salary pay-slips for the last 3 months
2. Income tax returns or Form 16

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