Everything you need to know about Bajaj Auto Credit two-wheeler loan

If you are planning to get a two-wheeler but don’t have enough financial backing, an auto credit loan is the best option. It will not only help you get immediate ownership of the bike but also reduce your monetary burdens significantly. Bajaj Auto Credit (BACL) offers exclusive auto credit loans on two-wheelers. With this, you can rest assured that the benefits will be splendid. You no longer have to wait for months to accumulate enough bank savings to pay the entire vehicle cost upfront. 

However, what exactly is the Bajaj Auto Credit two wheeler loan ? If you haven’t yet explored this finance option, it’s time to know about the same in detail. At least, then you can make the best decision for your finances without any hassle. That being said, we have discussed here everything you need to know about Bajaj Auto Credit bike loan in brief. 

What is the Bajaj Auto Credit loan for two-wheelers?

Bajaj Auto Credit will help you get your dream KTM or Bajaj bike easily while offering easy repayment options. This way you can manage your finances better and ensure your credit score is not impacted. 

What are the key features of Bajaj Auto Credit loan for two-wheelers?

Low to zero down payment 

BACL will evaluate your credit score to decide your eligibility for the loan amount. If it's high enough, you may even opt for a zero down payment auto credit loan. In other words, you won’t have to pay any upfront cost at the time of purchasing your dream bike. However, if your credit score is marginal, you may have to bear a certain expense amount but that will be nominal. The lender also offers 100% financing options on a few selective two-wheeler models.

Flexible repayment tenure 

Most people are worried about the repayment timeline since it impacts the EMI amount to be paid significantly. A longer repayment tenure means a higher interest rate. On the other hand, if the term is shorter, the EMI amount will be higher by several notches. To mitigate these challenges, BACL offers a repayment term of 3 to 60 months, meaning one year to four years. You will have complete liberty to choose the most feasible repayment tenure based on your financial ability. 

Hassle-free and faster loan approval

With Bajaj Auto Credit's wheeler loan, you can rest assured that approval won’t take too long. Once you submit all the necessary documents, the lender will evaluate your credit score and eligibility for the loan amount. If your credit risk is low, your application will be processed and you will soon get the loan approval. For existing customers, Bajaj offers pre-approved loans that don’t require any further eligibility checks. 

Competitive interest rates 

One of the many benefits of the auto credit loan offered by BACL is the competitive interest rate. It usually varies between 7% to 15% approximately. The actual rate levied will depend on your credit score and the risks associated. So, you should use the bike finance calculator to know how much EMI you have to give for the concerned loan amount. This will help you manage your cash flows better and prevent missed or delayed EMI payments. 

Digital loan management 

You can use the Bajaj Auto Credit’s portal to check the repayment schedule and track the EMIs. You will also get real-time updates about the outstanding balance on the loan amount or the exclusive offers given by the lender. This will help you in preventing sudden delayed or missed EMI payments with ease. On top of everything, you can use their online payment option to repay the EMI on time. 

What are the eligibility criteria for Bajaj Auto Credit bike loan?

1. You need to be at least 18 years of age to avail of the Bajaj Auto Credit two wheeler loan. 

2. You should have a stable employment history with a monthly income of more than the estimated EMI. 

3. You should be an Indian citizen. 

4. You need to have a valid address proof. 

5. Your credit score should be at least over 750 to become eligible for the two-wheeler auto credit loan. 

What are the documents you need to submit for Bajaj Auto Credit loan?

1. Income proof: You should submit your pay slips and bank account statements for the past three months. Additionally, your past ITR files will also be needed. For salaried employees, Form 16 issued by the employer is necessary.

2. ID and address proofs: Pan cards, voter cards, Aadhar cards, valid passports, and utility bills can be submitted as valid ID and address proofs. 

3. Age proof: You also need to submit an official document by the Indian Government where your complete date of birth is mentioned. This will act as the age proof for the loan. 

Conclusion 

With the Bajaj Auto Credit’s two-wheeler loan, you won’t have to worry about getting your dream bike. Just visit their online app, fill out the application, attach the documents, and submit everything. Once your loan gets approved, you can go ahead with the purchase of your chosen KTM or Bajaj bike model.