Benefits for Moneyfy Customers
Finance upto 100% of cost
You can avail a loan up to 100% of the two wheeler actual cost for bikes, up to ₹1,50,000.
Longer tenure
You can avail a loan tenure up to 5 years.
Quick & Easy processing
With quick processing and minimal paperwork, your two wheeler loan will be processed in no time.
Two-Wheeler Loan Interest Rate
Here’s a look at some of the charges associated with a two-wheeler loan:
Type of Fee |
Details |
Rate of Interest |
Get a two-wheeler loan of up to Rs 1,50,000 at an attractive interest rate. |
Processing Fees |
This fee is charged to process your loan request. Please discuss this when applying for the loan. |
Stamp Duty and Other Statutory Charges |
This amount will depend on the governing state law and will be deducted from the loan amount. |
Documentation Charges |
This is a one-time payment that is made at the time of loan application. |
Registration Certificate (RC) Collection Fees |
An RC is an official document that is issued by the Regional Transport Office (RTO) to validate a vehicle’s ownership. Charges associated with this are referred to as RC collection fees. |
RTO Charges |
The amount will depend on the prevailing RTO charges. |
Delayed Instalment Payment Charges |
A delay in EMI payment can attract penal charges. Please discuss this when applying for the loan. |
Premature Closure Charges |
This is a charge that is levied on the prepayment of the loan. |
Loan Cancellation Charges |
This is a charge that is levied on the loan applicant if they cancel the loan application before the disbursement date. |
Documents Required for Two-Wheeler Loan
Here’s a list of documents required for a two-wheeler loan from Tata Capital Moneyfy:
Proof of Identity: The following documents can be furnished as proof of identity.
1. Voter ID card
2. Permanent Driver’s License
3. Passport
4. Aadhaar Card
5. Job card issued by NREGA and duly signed by a State Government officer
Proof of Address: The following documents can be furnished as proof of address.
1. A letter of accommodation allotment from the employer issued by the State or Central Government departments, regulatory or statutory bodies, scheduled commercial banks, public sector undertakings, financial institutions, and listed companies, along with leave and license agreements with the employer allotting said official accommodation.
2. A receipt of property or municipal tax in the name of the applicant.
3. Pension or Family Pension Payment Orders (PPOs) that have been issued to retired individuals by government departments or public sector undertakings as long as they contain the applicant's address.
4. A utility bill (electricity, post-paid mobile phone, gas passbook, water bill, etc.) from the last two months.
Proof of Income: The following documents can be furnished as proof of income.
1. Bank statement of the last three months or ITR for self-employed loan applicants.
2. Salary slip for the last three months, a bank statement of the last three months mentioning salary credit, or Form 16 for salaried loan applicants.
Eligibility Criteria for Bike Loan
Here are the eligibility criteria for a two-wheeler loan from Tata Capital Moneyfy:
1. The applicant must be between the ages of 21 and 65.
2. The applicant can be salaried, or self-employed at the time of loan application.
3. The applicant must be an Indian citizen.
4. The applicant must have a credit score of 700 and higher.
How to Apply for Two-Wheeler Loan Online?
Here is how you can apply for a two-wheeler loan from Tata Capital Moneyfy:
Step 1: Navigate to Tata Capital Moneyfy’s two-wheeler loan page.
Step 2: Click on ‘Apply Now’. A pop-up window will appear, informing you that you’re being directed to a third-party website or platform. Click ‘Proceed.’
Step 3: A new pop-up window will appear, requiring you to log in or register for a Tata Capital Moneyfy account.
Step 4: Follow the steps on your screen.
You will be notified once your two-wheeler loan application is approved.
Frequently Asked Questions (FAQs)
VIEW ALLThe maximum amount that you can avail through a bike loan is Rs 1,50,000 for a tenure of 5 years.
The eligibility criteria for a two-wheeler loan are as follows:
1. The applicant must be between the ages of 21 and 65.
2. The applicant can be salaried, or self-employed at the time of loan application.
3. The applicant must be an Indian citizen.
4. The applicant must have a credit score of 700 or higher.
A credit score of 700 and higher can increase your chances of approval and even help you negotiate a better interest rate.
The maximum repayment tenure for a motorcycle loan is 5 years. Loan applicants must discuss the minimum loan repayment tenure at the time of application.
Yes, you can get 100% funding for your two-wheeler purchase. Tata Capital Moneyfy offers two-wheeler loans of up to Rs 1,50,000.
Tata Capital Moneyfy offers quick and easy loan processing with minimal paperwork. Apply for the loan in just a few steps right from the comfort of your home. Once your application is processed, you will be notified.
The rate of interest for bike loans depends on various factors, such as the loan applicant’s credit score, the loan amount, the tenure, etc. Applicants can discuss the interest rate when applying for the loan.