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Vijaya Bank Two Wheeler Loan
Total rating: 3.35

Vijaya Bank has been established as one of India's leading banks with 1701 branches and 1458 ATMs across India. The bank provides technologically advanced products such as Mobile Banking, ATMs and loans. A two-wheeler loan is an excellent tool for customers to finance either new or used bikes (but not more than five years old) with versatile payment terms.

Features of Two-Wheeler Loan

The objective of the bank is to make the two-wheeler loan affordable for the common man. The borrower can look forward to having 85% of the cost of vehicle financed by the bank if he or she is looking for a new vehicle. If the borrower prefers a used vehicle (not older than five years), he or she can get up to 70% of the market value financed by the bank. It states that the contribution of the borrower will be 15% for new bikes or 30% of the cost of used motorcycles.

The borrower can also get up to 100% of the cost of a new vehicle financed by the bank if the applicant is a salaried individual and  the employer provides the salary mandate, and if the salary is credited to one of the branches of Vijaya Bank. Another way for getting up to 100% of the cost financed for a new vehicle is by providing the mortgage of property as security towards the existing housing loan.

The maximum repayment period given to the borrower is 84 months.


The age of the applicant must be between 21 and 70 years to be eligible for a two-wheeler loan.

Applicant must belong to any of these categories:

1. Permanent employee of the state or central government, a private company, public or joint sector undertaking, or a reputed company.

2. The pensioners who draw their pension through Vijaya bank.

3. The self-employed professionals who have an independent source of income.

Documentation Required

1. 2 passport size photographs

2. Identity Proof

3. Proof of Address

4. Account statement of the applicant/co-applicant for the past one year.

5. If the borrower is a salaried employee, then he or she must provide the salary slips of the last three months.

6. In any of the case either salaried or self-employed, the applicant must provide ITR of the previous two years.

Interest Rates on Vijaya Bank Bike Loan

The interest rate levied for the two-wheeler loan is Base Rate + 0.40 = 10.05% p.a.


Q1. What are the criteria that the applicant must fulfill to get 100% of the vehicle's cost financed by the bank?

The applicant can get 100% of the cost financed while applying for a new bike if  the applicant is a salaried applicant and the employer provides a salary mandate. Also, the salary of the applicant should be credited to one of the branches of Vijaya Bank.

The applicant can also provide the mortgage of property as security to the existing housing loan for getting 100% vehicle cost.

Q2. Where can I find more information about a two-wheeler loan?

Please either call the toll free number 1800 425 5885 or visit the nearest Vijaya Bank branch for getting more information.