Two-Wheeler Loan/Chakra Loan
Make your daily commute easier with our Chakra Loan – a two-wheeler loan designed to make your life simpler. We offer financing up to 95% of the on-road price of the vehicle. Enjoy competitive rates, flexible repayment tenures, minimal documentation, and more. Avail our two-wheeler loan to add speed and progress to your life!
Two-Wheeler Loan EMI Calculator
Calculate and compare your EMI in few seconds with our Two-Wheeler Loan EMI Calculator.
Break-up of Total Payment
Monthly Loan EMI
Principal
Total Interest
Total Payment
(Principal + Interest)
Features & Benefits
Minimum Requirements
KYC documents
One passport-size photograph
Eligibility
Age: 18 to 59 years
Employment: Salaried/Self-employed with minimum work experience of 1 year
Schedule Of Charges
Effective from 1st April 2024 below the Schedule of charges
| Loan Amount | ₹ 26,000 - ₹ 2,75,000 |
| Loan Tenure | 12 - 48 months. |
| Rate of Interest | 20%- 26% p.a. diminishing balance method. |
| Processing Fee | Up to 4% of the Loan Amount plus GST. |
| Documentation Charges | ₹ 500 + GST. |
| Stamp duty | As per the state by-laws. |
| CERSAI Charges | At actuals |
| Late Payment Charges | 2.5% on the overdue amount + GST (w.e.f. 1st Apr’24) |
| Bounce Charges | Rs.500 plus GST |
| Pre-closure Charges | 2% of principal outstanding, if loan is pre-closed on or before 12 months from date of disbursement. 1% of principal outstanding, if loan is pre-closed after 12 months from date of disbursement. |
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Latest Blogs
Catch up on the latest blog updates from your trusted bank!
Seasonal Promotions on Two-Wheeler Loans: What's on Offer?
Are you in the market for a new two-wheeler? If so, it's worth considering the timing of your purchase.
Financing Your Two-Wheeler Accessories: Loans for Customisation
Building a custom motorcycle is a dream for many enthusiasts, but it often comes with financial challenges.
Two-Wheeler Loans for Adventure Bikes: What to Consider
The adventure motorcycle segment in India has been experiencing significant growth, with enthusiasts eager to explore
Frequently Asked Questions
1. What is a Two Wheeler Loan?
A two-wheeler loan helps customers purchase the ride of their dreams. He can then pay it in Equated Monthly Installments [EMIs].
2. What is the Loan tenure?
12-48 months
3. What is the amount being offered by USFB's Two Wheeler Loan?
We offer funding up to 2.75 Lakh on your dream ride.
4. What are the interest rates?
20% - 26% p.a diminishing balance method
5. What is the documentation charges?
Rs.500 plus GST
6. What is the processing fees?
Upto 4% of the loan amount plus GST
7. What is the bounce charge?
Rs.500 plus GST per bounce
8. What is the late payement charges?
Late payment charges will be 2.5% plus GST of loan amount for every late EMI
9. Who can apply for the two-wheeler loan?
Minimum Age- 21 years at the time of loan application & ·Maximum Age- 62 years at the end of the loan tenure (last EMI date)
10. What is the maximum bike loan I can get with Ujjivan SFB?
We offer financing up to 95% of the on-road price of the vehicle capped at ₹2.75 lakh. Contact us to know your eligibility.
11. How is two-wheeler loan EMI calculated?
The mathematical formula for two-wheeler loan EMI calculation P * r * (1 + r)^n / ((1 + r)^n - 1), where P is the principal loan amount, r is the monthly interest rate (annual rate divided by 12), and n is the loan tenure in months. However, manual calculations are time consuming and may leave room for errors. As a better alternative, use our two-wheeler loan EMI calculator to check your monthly repayment obligations.
12. Can I get a two-wheeler loan with poor credit score?
It’s important to maintain a good credit score, typically above 750. A higher credit score may help you secure your loan faster.
Customer Speak
I had an excellent experience with Ujjivan Small Finance Bank. Their loan process is swift, requiring minimal documentation, and offers reducing interest rates. I highly recommend Ujjivan Small Finance Bank.
Rameshwar Hembram
East
Recently, I financed my scooter through Ujjivan Small Finance Bank, and I'm extremely satisfied with the experience and the overall process. The team was exceptionally supportive and helpful.
Sachin Kumar Jha
North
The bank is experiencing significant growth and continuously enhancing its processes. A few years ago, when my brother obtained a Two Wheeler Loan, the entire process took a considerable amount of time. However, when I financed my two-wheeler with them recently, it was remarkably smooth and easy
Anup Kanti Dey
East
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