Thinking about buying a new bike or scooter? Whether it’s for daily travel or weekend rides, many people prefer taking a loan instead of paying the full amount at once. But before you apply, it’s important to compare bike loan interest rates from different banks and finance companies.
Even a small change in interest rate can save you a lot on monthly EMIs and total loan repayment.
🔢 Current Bike Loan Interest Rates (June 2025)
Here’s a quick look at the latest bike loan interest rates offered by top banks and NBFCs:
| Bank/NBFC | Interest Rate (p.a.) | Loan Amount | Max Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 12.85% – 14.85% | Min ₹50,000 – Max loan amount is ₹3,00,000 | Up to 3 years |
2% of the loan amount + GST |
| HDFC Bank |
14.5% – 27.53% | Min ₹26,000 – Max ₹50,00,000. | Up to 4 years | 0.50% of the loan amount or ₹3,000 |
| Bajaj Finserv | 0.99% – 31% | Min loan amount of ₹9999 – Max loan amount of ₹20 lakh. | 12 to 60 months | 5% of the loan amount |
| Hero FinCorp | 10.65% – 36% | Min ₹10,000 – Max ₹3,50,000. | Up to 3 years | 2.5% of the loan amount plus applicable taxes |
| ICICI Bank |
10.25% – 26.10% | Ranging from a Min of ₹10,000 to a Max of ₹30 lakh. | Up to 5 years |
Upto 4% of loan amount |
| Axis Bank |
15.00% – 25.00% | Min ₹25,001 – Max ₹35 Lakhs | Up to 3 years |
Up to 2.5% of Loan Amount |
| Kotak Mahindra Bank | 11.50% – 32% | Min ₹25,000 – Max ₹25 Lakhs | Up to 3 years | Can be vary from 1% to 4%. |
| Bank of Baroda |
13.35% – 13.65% | Up to ₹10 lakh | Up to 3 years |
2% of loan amount , (min ₹1,000) |
| Canara Bank | 8.20% – 15.75% | ₹10,000 – ₹10 lakh | Up to 3 years | 0.25% on the total loan amount, (min ₹1,000) |
| Union Bank of India | 12.35% – 12.45% | Up to ₹10 Lakhs | Up to 3 years |
Ranging from 1% to 4% |
| Bank of India | 8.75% – 11.10% | ₹50,000 – 1 Crore. | Up to 3 years |
The percentage can vary from 1% to 4%. |
| UCO Bank | 10.70% – 14.10% | Min ₹60,000 – Max ₹20 Lakhs. | Up to 3 years |
1% of loan amount, (min ₹500) |
| Yes Bank | 9.25% – 14.20% | Ranging from ₹1 lakh to ₹25 lakhs. | Up to 3 years |
Up to 1% of the loan amoun |
| Bandhan Bank | 9.47% – 22.50% | Min of ₹10,000 – Max of ₹1.5 lakhs | Up to 5 years |
3% of the loan amount, plus applicable GST |
Note: Final bike loan interest rates depend on your credit score, the loan amount, and whether you’re buying a new or used bike.
📌 What You Should Know Before Applying
When you apply for a two-wheeler loan, banks check your credit score, the bike type, and how much you want to borrow. A good score and higher down payment usually give you better bike loan interest rates.
Before you apply, it’s smart to:
✔️ Check if you’re eligible
✔️ Calculate your EMI in advance
👉 Use the tools below to plan better:
| Bike Loan Calculator | Check Loan Eligibility |
🚲 New vs Used Bike Loan Interest Rates
| Type of Loan | Interest Rate | Tenure | Other Info |
| New Bike | From 14% p.a. | Longer tenure | Better offers available |
| Used Bike | 17% – 30% p.a. | Shorter tenure | faster processing |
New bikes usually get lower bike loan interest rates, especially if you apply through the dealer or during a festive offer.
🧠 How to Get the Best Bike Loan Interest Rate
Want to reduce your EMI and save money? Here are some helpful tips:
✔️ Keep your CIBIL score above 750
✔️ Make a larger down payment
✔️ Compare 2–3 loan offers before choosing
✔️ Apply during festive seasons
✔️ Choose a shorter loan period if you can
📉 Use the Bike Loan EMI Calculator
Our Bike Loan EMI Calculator is easy to use. It helps you find out your monthly payment and total repayment instantly.
Just enter:
🔸 Loan Amount
🔸 Interest Rate
🔸 Loan Tenure
📍 You can see the full EMI and total loan amount upfront—no hidden surprises
📌 Why Bike Loan Interest Rate Matter
A lower interest rate means:
✅ Lower EMI every month
✅ Less money paid in total
✅ Faster loan closure
Even a 1% difference in bike loan interest rates can save you ₹5,000 to ₹10,000 over the loan period.
📝 Documents Required for Bike Loan
To apply for a bike loan, you usually need these documents:
- ID Proof (Aadhaar, PAN, Voter ID)
- Address Proof (Utility bill, Passport, Aadhaar)
- Income Proof (Bank statement, salary slip, ITR)
- Passport size photos
- Quotation or invoice of the bike
Tip: Having complete and updated documents can speed up your loan approval and give you better bike loan interest rates.
❓ FAQs on Bike Loan Interest Rates
Q1: What affects bike loan interest rates?
A1: Credit score, loan amount, bike type (new/used), and lender’s policy.
Q2: Can I get a bike loan without a credit history?
A2: Yes, but interest rates may be higher if you have no credit history.
Q3: Is zero down payment bike loan available?
A3: Some banks offer it during offers, but usually require good credit.
Q4: How much down payment is needed for a bike loan?
A4: Normally 10%–25% of the bike’s cost. More down payment = lower EMI.
Q5: Can I close my bike loan early?
A5: Yes, but some lenders charge a small foreclosure fee.
Q6: Which lender has the lowest bike loan interest rates?
A6: In 2025, Bajaj Finserv and HDFC Bank start from 14% p.a., depending on your profile.
Q7: Are interest rates fixed or floating for bike loans?
A7: Most are fixed, so your EMI stays the same throughout the loan term.
Q8: Can I get a loan for an electric bike?
A8: Yes, many banks finance electric two-wheelers with attractive rates.
✅ Final Words
Don’t rush into a loan. Make sure to check bike loan interest rates from different lenders before choosing one. A few minutes of research can save you a lot in the long run.
Explore Our Loan Calculators & Interest Rate Guides
Want to understand your loans better? Explore our range of calculators and interest rate guides to manage your finances smartly:
| EMI Calculators | Interest Rate Guides |
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Home Loan Interest Rates – Calculate your monthly EMIs based on loan amount, tenure, and interest rate. |
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| 💼 Personal Loan Calculator – Plan your personal loan repayments with ease. |
💰 Personal Loan Interest Rates – View current personal loan rates. |