Why Choose a Two-Wheeler Loan?

A bike loan or scooter loan allows you to spread the cost of your two-wheeler over manageable Equated Monthly Installments (EMIs), making it easier to own a vehicle without depleting your savings. With Muthoot Finance, you can finance up to 100% of the on-road price of your chosen two-wheeler, whether it’s a motorcycle, scooter, or even an electric vehicle. This eliminates the need for a hefty down payment, making two-wheeler ownership accessible to salaried and self-employed individuals alike.

Key Benefits of Muthoot Finance Two-Wheeler Loan

1. Up to 100% Financing: Muthoot Finance offers loans covering up to 100% of the on-road price, allowing you to purchase your dream bike without any upfront payment. This is ideal for those looking to manage their finances efficiently while owning a vehicle.
2. Low Interest Rates: With interest rates starting at 0.99% per annum, Muthoot Finance provides one of the most competitive rates in the market. The final rate depends on factors like your credit score, repayment capacity, and loan tenure, ensuring a personalized and affordable borrowing experience.
3. Flexible Tenure Options: Choose a repayment tenure ranging from 12 to 48 months, allowing you to customize your EMIs based on your financial comfort. This flexibility ensures that loan repayment doesn’t strain your monthly budget.
4. Quick Approval and Disbursal: Muthoot Finance’s streamlined process ensures quick loan approval and disbursal, often within hours, so you can ride your new bike sooner. The minimal documentation requirement further simplifies the process.
5. Hassle-Free Documentation: The application process requires basic KYC documents (identity proof, address proof, and income proof), making it user-friendly and efficient. You can apply online or at a nearby Muthoot FinCorp branch.
6. Support for Electric Vehicles: For eco-conscious buyers, Muthoot Finance offers financing for electric two-wheelers, with added benefits like tax incentives under Section 80EEB of the Income Tax Act.
7. Credit Score Improvement: Timely repayment of your two-wheeler loan can boost your CIBIL score, enhancing your financial profile for future credit opportunities.

Eligibility Criteria for Muthoot Finance Two-Wheeler Loan

To qualify for a two-wheeler loan from Muthoot Finance, you need to meet the following criteria:

• Age: Applicants must be between 18 and 65 years at the time of loan repayment.
• Income: Salaried individuals need a minimum annual income of ₹96,000, while self-employed individuals require a minimum annual profit of ₹1,20,000.
• Residence Stability: You should have resided at your current address for at least one year.
• Employment Stability: Salaried applicants need at least one year in their current job. Self-employed individuals may need to provide a guarantor with a good credit score.

Documents Required

The documentation process is straightforward, requiring the following:

• Identity Proof: Aadhaar card, PAN card, passport, voter’s ID, or driving license.
• Address Proof: Aadhaar card, voter’s ID, ration card, utility bills (electricity, telephone, gas), or LIC policy.
• Income Proof: Salary slips, Form 16, or Income Tax Returns.
• Asset Proof: Latest property tax receipt or land records (if applicable).

How to Apply for a Muthoot Finance Two-Wheeler Loan

Applying for a bike finance or scooter finance with Muthoot Finance is simple and can be done online or offline:

Online Application via Muthoot FinCorp ONE App

1. Download the Muthoot FinCorp ONE app from the Play Store or App Store.
2. Navigate to the Two-Wheeler Loan section on the homepage.
3. Fill in the required loan amount and personal details.
4. Submit the application, and a customer support representative will guide you through the next steps.

Offline Application

1. Visit a nearby Muthoot FinCorp branch or Muthoot Capital Services Ltd. branch.
2. Fill out the loan application form with the help of a representative.
3. Submit the required documents (KYC, income proof, etc.).
4. Upon verification, your loan will be approved and disbursed within 1-2 working days.

Repaying Your Loan

Muthoot Finance offers multiple repayment options for convenience:

• Muthoot Capital mPower App: Pay EMIs via net banking, UPI, or debit cards.
• National Automated Clearing House (NACH): Set up automatic EMI deductions.
• Standing Instruction (SI): For existing account holders, EMIs can be auto-debited from your bank account.

You can also track your loan status, check repayment schedules, and manage payments through the Muthoot FinCorp ONE app or by contacting customer support at 1800 102 1616.

Why Muthoot Finance Stands Out

As part of the Muthoot Pappachan Group, a trusted name in India’s financial services industry for over 135 years, Muthoot Finance combines a legacy of reliability with modern digital solutions. The Muthoot FinCorp ONE platform integrates lending, repayments, and financial management, offering a seamless experience. With a network of over 5,840 branches and a customer base exceeding 1 crore, Muthoot Finance is a leader in vehicle finance, particularly for two-wheelers.

Additional Perks

• Zero Down Payment Options: Select schemes allow you to finance the entire cost of the vehicle, ideal for those with limited savings.
• Customized Loan Schemes: Tailored options for salaried and self-employed individuals, ensuring accessibility for diverse borrowers.

Support for Women: Special schemes like the Muthoot Blue two-wheeler loan for ladies cater to specific demographics, promoting inclusivity