Bank of Baroda Two-wheeler loans
The Bank of Baroda is the third-largest public sector bank after State Bank of India and Punjab National bank. It was founded in 1908 and is headquartered in Baroda (Vadodara). The bank offers a wide range of customized and specialized services to meet the diverse needs of its customers, and these services have been categorized into personal banking, business banking, corporate banking, international banking, treasury banking, and rural banking.
Among all services, the most popular are two-wheeler loans financing. Based on the credit profile and financial requirement, one can apply for a loan for a two-wheeler up to 10 lakhs. The interest rates start at 11%.
Features and benefits of applying Two-wheeler loans
- Easy to apply online with hassle-free documentation.
- A loan could be applied for bikes purchased for personal use.
- Salaried, entrepreneurs, professionals, agriculturists, staff, or ex-staff of BOB.
- One can repay the loan for up to 60 months.
- Available at an affordable interest rate starting from 11%.
- There are no pre-closure charges in two-wheeler loans.
Fee and charges
|Interest rate||Starts at 11%|
Maximum Loan amount
|Up to 10 Lakhs|
|Minimum Loan amount||At Bank's discretion|
|Repayment period||Up to 60 months|
|Processing fees||2% of the loan amount|
Know about Bank of Baroda Two-wheeler loan eligibility criteria
- The minimum age to apply for a two-wheeler loan in the Bank of Baroda is 21 years and the maximum is 70 years.
- The two-wheeler purchased with the loan amount should be new and bought for personal use only.
Income eligibility criteria
- The average of the last three months' Gross Monthly Income (GMI) is considered for salaried individuals.
- The average of the last two years' GMI is considered for non-salaried individuals.
Documents required to apply for Two-wheeler loans
These are the documents required to apply for a bike loan from the Bank of Baroda:
- Signed and duly filled in the application form.
- Proof of age (birth certificate/driving license/passport/PAN card/life insurance policy/school-leaving certificate)
- Proof of residence (utility bills/voter ID card/driving license/valid passport/notarized registered rental agreement/updated bank account statement or passbook)
- Bank statement of the last 6 months
- Bike quotation
- Last 2 years Income Tax Return, Traces, 26AS.
- Computation of income, , profit, loss account, balance sheet of the last 2 years.
- IT assessment, income tax challans, TDS certificate, Form 16A, Form 26AS of the last 2 years
- Proof of business (registration certificate/gomasta license/service tax registration, etc.)
For Salaried Employees
- Salary pay-slips of the last 3 months
- Income tax returns or Form 16
How to apply for Bank of Baroda Two-wheeler loans
- Visit the official Bank of Baroda website
- In the main navigation tab, click on ‘Vehicle Loans’
- Select ‘Two-Wheeler Loan’
- Click on the ‘Apply Now button on the page.
- Enter the required details on the next page
- A Bank of Baroda representative will get in touch with your regarding your application.