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Best Bike Loan Scheme by Shriram Finance

Best Bike Loan Scheme by Shriram Finance

Best Bike Loan Scheme by Shriram Finance

India and its penchant for two-wheelers

India has always been a dream market for two-wheeler manufacturers. The market, which was hugely dominated by local super brands like the Hero Group and the Bajaj Group till a decade back, is now facing severe competition from International Brands.

Two-wheelers have always been a favourite for both urban as well as rural consumers. Compared to a four-wheeler, it is less expensive to purchase and maintain. In India especially, where the infrastructure is already spilling at its edges, a two-wheeler can be easily manoeuvred on narrow and densely populated roads. Another major challenge that consumers face is the non-availability of parking spaces. Compared to a four-wheeler, a two-wheeler occupies less space. On the back of all these reasons, we have seen a steady rise in demand for two-wheelers despite the economy going through difficult times, especially during the ongoing pandemic.

Consistent Sales Always!

Two-wheeler sales have never really relied on the fate of the Indian economy. We have seen the sales of commercial vehicles and passenger car sales linked to external factors like recession or poor economy. But two-wheelers have consistently shown steady sales growth over the years. They still enjoy being the preferred mode for customers across the country, across all economic classes, gender, and age groups.

With the rising prices of petrol and diesel and increasing taxes on four-wheelers, more and more people are opting for a two-wheeler over a four-wheeler. An Indian consumer who prefers better mileage and fuel efficiency over luxury would rather place his bet on the two-wheeler that gives him up to 500% better mileage.

Bikes and mopeds are the favoured mode of transport as they allow the comfort of owning your vehicle, which is not heavy on your pocket. Also, in the age of social distancing, against the backdrop of the pandemic, two-wheelers are the preferred option as people prefer travelling on their own instead of taking public transport. Finding a parking space, especially in cities like Mumbai, becomes less of a hassle.

Dream Loans

Two-wheeler loans have also shot up as the moped segment has a big fan-following amongst women and the younger generation.

Another major reason for a strong show by the two-wheeler segment is the easy availability of finance. Most of the banks and NBFCs have dedicated verticals to provide two-wheeler finance for bikes as well as mopeds.  

Banks typically fund 75% of the overall cost of the two-wheeler with the remaining to be provided by the purchaser. This is where leading NBFCs like Shriram Finance come to the fore. They provide 100% finance of the on-road price to the customer, where the entire cost of the two-wheeler at the time of purchase by the consumer is borne by the company. This bodes well for the manufacturer as well as the finance company as their customers can purchase a completely funded two-wheeler provided the documentation is in place. In the end, the Indian consumer, who is extremely cost-conscious, gets to buy a fully funded vehicle. The customer is also comfortable to avail finance from such reputed companies who have a proven track record and a financially stable parent company.

Bike loans and moped loans from Shriram Finance can be availed in a quick and hassle-free manner. They are the leaders in two-wheeler financing today, especially as they provide 100% financing of the on-road price of the two-wheeler. They have tailor-made two-wheeler loans catering to different types of customers. Many of the top two-wheeler brands in India have tied up with Shriram Finance as their trusted financing partner. The company thus has its reach across the length and breadth of the country. Shriram Finance is the front-runner and soon will the one-stop solution for two-wheeler loans in India.

Why is Shriram Finance two-wheeler loan preferred over other NBFCs?

Product Features

1) Convenience - 100% loan financing on the on-road price.

2) Suits your pocket - Competitive interest rates starting from 11.5% p.a.

3) Easy to apply for the loan – The customer just needs to fill up a form and start his loan approval process.

4) Easy documentation - Documents are simple and easy to understand. Extremely hassle-free.

5) Quick Loans - Shriram Finance offers the fastest loan disbursal. If the documents are in place, the loan can be availed 24 hours from the time of process.

6) Easy access - With more than 2,875+ branches, the company has a nation-wide presence.

7) Online access - You can check all your transactions online on its customer portal from the date of approval of loan.


1) Any individual between the age group of 21-59 years is eligible to apply for two-wheeler Finance.

2) Both salaried and self-employed can apply for two-wheeler finance.

3) Loan disbursals are subject to a minimum Salary of Rs 12000 p.m for salaried individuals or for self-employed continuing in their business for a minimum of two years.

4) The applicant should also be living in the same address for at least a year.

5) All existing liabilities/loans should be declared while applying for the two-wheeler loan.

6) There should be no cheque-bounce in the last 12 months’ bank statement.


If the applicant meets the above-mentioned criteria, applicant can apply. Followingf are the documents required:

1) Aadhar card is mandatory.

2) Identity Proof - Passport, Driving License, Voter ID Card or Pan Card (Any one)

3) Address Proof – Passport, Driving License, Gas Book

4) Recent passport size colour photographs

5) Income Proof Documents

6) Bank statement for the last six months

7) One cancelled cheque and ACH form for Electronic Clearing Mandate

8) Duly endorsed Vehicle Registration Certificate on receipt for New Vehicles

9) Any other document as advised by Shriram Finance Union Finance

In conclusion, it’s a good time to own your dream vehicle with 100% hassle-free funding and enjoy a safe drive following all the social distancing norms!

Get a two wheeler loan at low interest rates