What is the Processing Fee and Other Charges for Bike Loan?

What is the Processing Fee of Bike Loan?

It is the fees for making decision of the loan. The two wheeler industry in India is booming and bike loans are becoming increasingly popular with the Indian masses. If you aspire to buy a Bajaj or KTM two wheeler but are short of funds then you can approach Bajaj auto finance for a bike loan. Two wheeler loan interest rates have become affordable as it is a competitive segment where you can avail for the best rates prevailing in the market. You can make use of bike loan calculator available on the lender’s website to calculate the interest rate and EMIs before purchasing your favorite Bajaj or KTM bike

Processing Fee on a Bike Loan

At the time of applying for a bike loan , Loan providers ask you to pay a processing fee which is non refundable. At the time of submitting the documents you are required to make a cheque for processing fee which varies depending on your profile. Processing charges can be adjusted but cannot be waived off. Processing fee charges are variable based on your profile and must be paid before the loan is sanctioned.

Additional Read: Benefits of Two Wheeler Loan

Even if Bajaj auto finance offers 100%* finance on a two-wheeler, processing fee on the loan amount still has to be paid by the borrower. It is advisable to check the processing fee charges. Your two wheeler loan will be processed only when your processing fee is credited into the lender’s account. The charges for processing fee are subject to change and vary from 2% to 3.5% depending on location.

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