Two-wheeler Loan
Shriram Two-wheeler Loan offers financing of up to 95% of the on-road price for the purchase of new bikes and scooters, with interest rates starting from 10%* p.a. and repayment tenure from 12 to 60 months. The loan is available to salaried and self-employed applicants, as well as those from the unorganised sector, subject to eligibility criteria.
Shriram Finance also provides financing for used two-wheelers, subject to eligibility and applicable terms. Rates and conditions for used two-wheeler loans differ from those for new vehicles; applicants are advised to refer to the Interest Rates and Charges page for details.
Eligible applicants may apply for Shriram Two-wheeler Loan online.
Shriram Two-wheeler Loan — Key Parameters
Key parameters of Shriram Two-wheeler Loan are outlined in the table below:
-
Parameters
- Loan Amount
- Tenure
- Interest Rates
- Applicant Age
- Eligibility
- Key Documents
-
Details
- Up to 95% of the on-road price
- 12 - 60 months
- Starting from 10%* p.a.
- 21-59 years (at the end of loan tenure)
- Salaried and Self-Employed individuals
- Identity, address and income proof
*Interest rates are indicative and subject to change based on applicant profile, loan tenure, and vehicle type.
Two-Wheeler Loan Interest Rates and Charges
The applicable rates and charges for bike loans offered by Shriram Finance are outlined in the table below.
-
Fee Type
- Rate of Interest
- Processing Fee
- Foreclosure Charges
-
Applicable Charges
- Starting from 10%* p.a.
- Up to 5%* of the loan amount
- Up to 4%* of the outstanding principal (The customer cannot foreclose within 12 months of first EMI; additional 2% will be applied if the loan is transferred to another lender)
*Rates and charges are subject to change based on loan tenure, market conditions, and other factors. Please refer to the Interest Rates and Charges document for the latest information.
Two-wheeler Loan - Features
The key features and benefits of Shriram Two-wheeler Loan are outlined below:
Interest Rate
The interest rate on Shriram Two-wheeler Loan starts from 10%* p.a., subject to applicant profile and loan tenure.
Flexible EMI Tenure
Repayment tenure for Shriram Two-wheeler Loan ranges from 12 to 60 months. Applicants may select a tenure consistent with their assessed repayment capacity.
Finance Up to 95%
Shriram Two-wheeler Loan covers up to 95% of the on-road price of the vehicle. Applicants are required to contribute the remaining amount as a down payment.
Approval & Disbursal
Subject to document verification and eligibility assessment, loan applications are typically processed within a few business days. Applicants are notified of their loan status once the review is complete.
New and Used Two-Wheeler Financing
Shriram Finance provides two-wheeler loan financing for both new and used bikes and scooters, subject to eligibility. Applicants seeking financing for a used two-wheeler may refer to the Interest Rates and Charges page for the applicable rate range and conditions.
Minimal Documentation
Document requirements for Shriram Two-wheeler Loan include identity proof, address proof, and income proof. Refer to the Documentation Requirements section for the complete list of accepted documents.
Two-wheeler Loan Eligibility Criteria
Two-wheeler loan eligibility criteria at Shriram Finance are as follows:
Age
- 21 to 59 years
Employment Type
- Salaried or Self-Employed
Employment Proof
- Salaried applicants: At least 1 year of work experience with current employer
- Self-Employed applicants: Active business of at least 2 years
- Applicants from the unorganised sector : including farmers, homemakers, and students — are eligible to apply for a two-wheeler loan provided a co-applicant or guarantor with stable income is included in the application.
Unorganised Sector (farmers, homemakers, students):
- A co-applicant or guarantor with stable income
Residence Proof
- Applicant must be living for at least one year at the current address
Documents Required for Shriram Two-wheeler Loan
To apply for a two-wheeler loan, submit the following documents along with the loan application.
For Proof of Identity
- Passport
- Driving Licence
- Voter ID Card
For Proof of Residence
- Passport
- Driving Licence
- Utility bill (gas connection with passbook)
Income Proof Documents
- Bank statements of the last six months
- One cancelled cheque
- ACH form for electronic clearing mandate
Other Documents
- Recent passport-size photographs
For New Vehicles
- Duly endorsed vehicle registration certificate
Shriram Two-wheeler Loan EMI Calculator
Use the Shriram Two-wheeler Loan EMI Calculator to estimate the bike loan EMI instantly and plan repayments accordingly.
The online EMI calculator helps estimate the monthly repayment before applying. Enter the loan amount, preferred interest rate, and tenure — the calculator instantly generates a loan summary showing the monthly EMI, total interest payable, and the overall repayment amount.
Illustrative Example — New Bike Loan for a Salaried Applicant
A salaried applicant with a monthly income of ₹25,000 opting for a two-wheeler loan of ₹80,000 at 10%* p.a. over a 60-month tenure would have an indicative monthly EMI of approximately ₹1,700. This example is applicable to new bike loans only. EMI values will vary based on the loan amount, applicable interest rate, and tenure selected. Use the EMI Calculator for an estimate based on specific inputs.
EMI values are indicative and based on the interest rate and tenure entered. Actual repayment amounts may vary.
Two-Wheeler Loan EMI Chart
-
Loan Amount
- 50000
- 50000
- 50000
-
Tenure
- 12
- 24
- 36
-
12%
- 4442
- 2354
- 1661
-
14%
- 4489
- 2401
- 1709
-
16%
- 4537
- 2448
- 1758
-
Loan Amount
- 75000
- 75000
- 75000
-
Tenure
- 12
- 24
- 36
-
12%
- 6664
- 3531
- 2491
-
14%
- 6734
- 3601
- 2563
-
16%
- 6805
- 3672
- 2637
-
Loan Amount
- 100000
- 100000
- 100000
-
Tenure
- 12
- 24
- 36
-
12%
- 8885
- 4707
- 3321
-
14%
- 8979
- 4801
- 3418
-
16%
- 9073
- 4896
- 3516
Loan terms disclaimer: *Interest rates, fees, and charges for Shriram Two-wheeler Loan are subject to change based on applicant profile, loan tenure, and market conditions. Please refer to Shriram Finance for the most current terms before applying.
EMI table disclaimer: *EMI figures are indicative only. Actual repayment amounts will vary based on the loan amount sanctioned, interest rate applicable to your profile, tenure chosen, and applicable charges at the time of disbursement. Refer to Shriram Finance for confirmed figures before applying.
How to Apply for a Two-wheeler Loan Online
The online application process for Shriram Two-wheeler Loan can be completed through the Shriram Finance website or the Shriram One App. Here are the steps to apply for a two-wheeler loan online:
Two Wheeler Loan Available in Cities
Shriram Two-wheeler Loan FAQs
The minimum CIBIL score of 600 and above* is requirement for a two-wheeler loan from Shriram Finance. While a score in this range meets our eligibility criteria, approval is not based solely on a single number. Customers with lower CIBIL scores may also qualify, subject to overall eligibility and credit evaluation*.
*T&C apply
The minimum salary requirement for a bike loan is ₹10,000 per month. However, we offer flexibility and frequently process loan applications for individuals earning less than this amount.
Approval is based on your overall repayment capacity, income stability, and employment type rather than a rigid baseline. If your income is below the benchmark, you can easily improve your eligibility by making a slightly higher down payment or choosing a longer tenure to keep your monthly EMIs comfortable.