Owning a two-wheeler has become more accessible than ever, thanks to easy financing options provided by banks. If you’re planning to buy a bike or scooter in 2025, securing a loan with a low-interest rate can significantly reduce your financial burden. To help you make an informed decision, we’ve compiled a list of the top 5 banks offering the lowest interest rates on two-wheeler loans in 2025.
Let’s explore their features, benefits, and why they stand out!
1. State Bank of India (SBI)
Interest Rate: Starting at 7.50% p.a.
State Bank of India remains a top choice for two-wheeler loans due to its competitive rates and flexible repayment options.
Key Features:
- Loan Amount: Up to 85% of the on-road price of the vehicle.
- Repayment Tenure: Up to 3 years.
- Processing Fee: Minimal, with discounts for women applicants.
- Prepayment Charges: No charges for early repayment after 6 months.
Why Choose SBI?
SBI’s transparent loan process, coupled with its nationwide presence, ensures ease of access. Additionally, the bank offers lower rates for existing customers with a good credit history.
2. HDFC Bank
Interest Rate: Starting at 8.25% p.a.
HDFC Bank is known for its quick loan approval process and attractive schemes for salaried and self-employed individuals.
Key Features:
- Loan Amount: Up to 90% of the bike’s on-road price.
- Repayment Tenure: 12 to 48 months.
- Processing Fee: Up to 2% of the loan amount.
- Special Offers: Pre-approved loans for existing account holders.
Why Choose HDFC Bank?
HDFC Bank’s streamlined digital process allows you to apply for a loan online and get approval within hours. Their competitive interest rates and flexible tenure make them a strong contender.
3. ICICI Bank
Interest Rate: Starting at 8.50% p.a.
ICICI Bank offers a wide range of two-wheeler loan products designed to cater to different customer needs.
Key Features:
- Loan Amount: Up to 100% of the ex-showroom price for select models.
- Repayment Tenure: Up to 5 years.
- Processing Fee: 1% to 2% of the loan amount.
- Prepayment Charges: 5% of the outstanding amount.
Why Choose ICICI Bank?
ICICI Bank’s loan schemes include tailored options for premium bikes. Their attractive offers for existing customers and extended tenure options make them a popular choice.
4. Axis Bank
Interest Rate: Starting at 8.75% p.a.
Axis Bank is another strong player in the two-wheeler loan segment, offering competitive rates and fast processing.
Key Features:
- Loan Amount: Up to 95% of the on-road price.
- Repayment Tenure: Up to 36 months.
- Processing Fee: Starting at ₹1,000.
- Special Schemes: Exclusive discounts for women borrowers.
Why Choose Axis Bank?
Axis Bank’s easy documentation process and dedicated customer support make it an ideal choice for first-time borrowers. Their special schemes for women encourage gender inclusivity in financing.
5. Bajaj Finserv
Interest Rate: Starting at 9.00% p.a.
Bajaj Finserv, a non-banking financial company (NBFC), is well-known for its specialized two-wheeler loan products and quick disbursal.
Key Features:
- Loan Amount: Up to 100% of the on-road price.
- Repayment Tenure: Up to 5 years.
- Processing Fee: Low, with periodic offers for zero processing fees.
- Additional Benefits: Flexible EMI options and zero foreclosure charges.
Why Choose Bajaj Finserv?
Bajaj Finserv’s tailored loan options cater to individuals with varying credit profiles. Their hassle-free application process and extended repayment tenures make them a preferred choice for many.
How to Choose the Right Bank for Your Two-Wheeler Loan
When deciding on a two-wheeler loan, consider the following factors:
- Interest Rate: Lower interest rates reduce your overall repayment burden.
- Loan Amount: Ensure the bank finances a significant portion of the bike’s price.
- Repayment Tenure: Choose a tenure that balances your monthly EMI and total interest payable.
- Processing Fees: Compare fees and hidden charges across banks.
- Special Offers: Look for discounts or schemes tailored to your needs, such as women-centric offers or festive deals.
Conclusion
Choosing the right bank for your two-wheeler loan can save you a lot of money in the long run. The banks listed above—SBI, HDFC Bank, ICICI Bank, Axis Bank, and Bajaj Finserv—stand out for their competitive interest rates and borrower-friendly features. Assess your financial requirements and compare offers to select the best loan option.
Pro Tip:
Always calculate your EMI beforehand using an online EMI calculator. This will help you plan your monthly budget effectively and avoid any financial stress.
So, what’s stopping you? Go ahead and make your dream of owning a two-wheeler a reality in 2025!
What’s Next?
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