Planning to buy a scooter or bike on EMI? With so many lenders and offers in 2025, it’s important to compare bike loan interest rates across all banks and pick the one that gives you the lowest 2 wheeler Loan interest rates — especially if you’re looking for the cheapest bike loan option.
In this guide, we’ll help you understand how bike loan interest works, which banks offer the best rates, and how to secure the lowest interest rate for a bike loan in 2025.
🚀 Latest 2 Wheeler Loan Interest Rates – July 2025
To find the lowest interest rate for a bike loan, it’s smart to compare bike loan interest rates from all banks and NBFCs before applying. Below is a quick overview of the most recent offers from top lenders, including EV and regular two-wheeler loans:
| Bank / NBFC | Starting Interest Rate (p.a.) | Loan Type | Processing Fee |
|---|---|---|---|
| Yes Bank | 9.28% | Regular & EV | ₹999 approx. |
| ICICI Bank | 10.25% | Regular Bike Loan | ₹2,500 approx. |
| SBI | 12.85% | Two-wheeler Loan | 2% of loan amount |
| HDFC Bank | 14.55% | Bike Loan | Up to 2.5% |
| Bajaj Finserv | 0.99%* (can go up to 30%) | EV & Petrol Bikes | Varies by dealer |
| Hero FinCorp | 10.65% – 36% | Entry-level bikes | Low or no processing fee |
💡 Tip: Use our Bike Loan EMI Calculator to estimate your monthly cost based on latest offers.
✅ Note: EV bike loan interest rates are sometimes lower than regular bikes due to government-backed green finance offers.
🧠 What Affects Your 2 Wheeler Loan Interest Rates?
Getting a low rate isn’t just about choosing the right bank. Here are the key factors that affect motorcycle loan interest rates:
🔹 Credit Score
A score above 750 usually qualifies for the best bike loan interest rate.
🔹 Loan Amount & Tenure
Shorter tenures often come with lower interest rates, while longer tenures may cost more over time.
🔹 Income & Employment Type
Salaried individuals with stable income often receive better offers compared to self-employed applicants.
🔹 Bike Type & Value
New bike loan interest rates may be lower than used bikes, and premium models may have different rates.
💡 How to Get the Lowest Interest Rate for Bike Loan
Here are proven tips to secure a better deal:
- Improve your credit score before applying
- Compare loan offers from multiple banks/NBFCs
- Choose shorter repayment tenure
- Opt for festive offers or manufacturer tie-ups
- Negotiate processing fees and insurance bundling
Using an EMI calculator for bike loan can also help you choose the right balance between EMI and interest.
Should You Choose a Bank or NBFC for a Bike Loan?
When applying for a loan, you can choose between banks or NBFCs (Non-Banking Financial Companies). Here’s how they compare:
| Criteria | Bank | NBFC |
|---|---|---|
| Interest Rates | Lower (usually) | Slightly higher |
| Eligibility | Stricter | More flexible |
| Processing Speed | May take longer | Faster disbursal |
| Offers | Limited to existing customers | Dealer tie-ups, special schemes |
👉 If you have a good credit score, a bank may offer the lowest interest rate for bike loans. If not, NBFCs provide better flexibility.
📊 Example: Bike Loan EMI Calculation
Let’s say you take a loan of ₹70,000 for 2 years at 10.5%:
- Monthly EMI: ₹3,246
- Total Interest Paid: ₹7,904
👉 Use our bike EMI calculator for bike loan to estimate your EMI based on different rates and tenures.
❓ Frequently Asked Questions(FAQ’S): 2 Wheeler Loan Interest Rates.
Q1. What is a good 2 wheeler loan interest rates in 2025?
A: Anything under 10% is considered competitive, especially from banks like SBI and Bajaj Finance.
Q2. Which lender offers the best bike loan interest rate?
A: SBI, Bajaj Auto Finance, and ICICI often have attractive rates based on borrower profiles.
Q3. Are new bike loan interest rates lower than used bike loans?
A: Yes. New bikes generally attract lower interest due to reduced risk for lenders.
Q4. Can I get a zero-interest bike loan?
A: Sometimes offered during promotions, but such loans often include higher vehicle prices or hidden charges. Always read the terms.
Q5. Do women get lower 2 wheeler loan interest rates?
A: Some banks offer special schemes or discounted rates for women applicants. It’s best to inquire specifically.
Q6. Does the down payment amount affect the interest rate?
A: Yes. A higher down payment reduces the loan-to-value ratio and can result in better loan terms and lower rates.
🏁 Final Thoughts
Choosing the right 2 wheeler loan interest rates can make a big difference in your total loan cost. Always compare rates, read the fine print, and plan using an EMI calculator. Whether you’re buying a scooter or a superbike, getting the best 2 wheeler loan interest rates in 2025 is possible with a bit of research and smart planning.
Great article, this cleared up a lot of confusion.
Thank you! We’re glad the explanation helped you.