Bank of Baroda Two-wheeler Loan

Bank of Baroda has been one of the most trusted banks in India for decades and is known for offering pocket-friendly two-wheeler loans. You can borrow amounts of up to ₹10 Lakhs and purchase your dream bike with ease. The Bank of Baroda bike loan interest rate starts at 13.90 % p.a., with a repayment tenure of up to 5 years.

Ensure to note the following Bank of Baroda two-wheeler loan interest rates and charges if you plan to apply:

The Bank of Baroda two-wheeler loan EMI calculator is a helpful tool to estimate your monthly repayments. By entering details like the loan amount, tenure, and interest rate, you can get an accurate EMI figure. This enables effective financial planning and helps you select the best repayment option.

To qualify for a BOB two-wheeler loan, ensure you meet these criteria:

Eligible Applicants

Salaried employees, business professionals, farmers, and Bank of Baroda staff/ex-staff.

Income-Based Deductions:

• Gross Monthly Income (GMI) < ₹20,000: Total deductions including EMI ≤ 50%

• GMI ₹20,000 to ₹1 Lakh: Deductions ≤ 60%

• GMI > ₹1 Lakh: Deductions ≤ 70%

Income Assessment:

• Salaried: Average GMI of the last 3 months considered.

• Others: Average gross annual income of the last 2 years used for FOIR (Fixed Obligation to Income Ratio) calculations.

Provide these documents to complete your loan application:

Personal Identification

PAN card, passport, or driving licence

Address Proof

Passport, voter ID, utility bill, updated passbook, or rent agreement

Bank Statements

Last 6 months' bank account statements

For Salaried Applicants:

• Last 3 months' salary slips

• Form 16 or recent IT returns

For Self-employed Applicants:

• Balance sheet, profit/loss account, and income computation for 2 years

• IT returns, Form 26AS, and business proof (e.g. Registration certificate and service tax registration)

Additional Requirement

Quotation for the bike.

Bank of Baroda’s two-wheeler loan is not available on Bajaj Markets. You can easily apply for a Bank of Baroda Two-wheeler Loan online through the official website.  Follow a few simple steps mentioned below to proceed:

1. Visit the official website of the Bank of Baroda

2. Click on the ‘Loans’ option in the main navigation tab

3. Select ‘Baroda Two-wheeler Loan’ under the ‘Vehicle Loan’ option from the drop-down menu

4. Click on the ‘Apply Now’ button on the page

5. Fill in all the required details and submit

After this, your application will be verified. A representative will get in touch with you regarding the future proceedings of your loan application.

BOB two-wheeler loan offers flexible repayment options to suit different financial capacities. Here are the key features:

Flexible Tenure

Repayment tenure ranges up to 5 years, allowing borrowers to choose a comfortable schedule.

No Prepayment Charges

Pay off your loan early without any penalties, offering savings on interest costs.

EMI-based Repayments

Borrowers can repay the loan in affordable Equated Monthly Instalments (EMIs), ensuring consistent payments over time.

FOIR-linked Repayment

Repayment is structured based on the borrower’s income, ensuring affordability and financial stability.

These options make managing your Bank of Baroda Bike Loan easy and convenient.