What Is A Zero Down Payment Two-Wheeler Loan?


Once you learn to ride a bike, it’s tough to go back to commuting on public transport. The obvious solution, of course, is to buy the two-wheeler of your choice. Now you might be thinking that buying a brand new two-wheeler is easier said than done. But with the zero down payment two-wheeler loan, buying a bike has never been easier. 

A zero down payment plan for a two-wheeler loan does sound too good to be true. But this guide will clarify what it means and how to get it. 


Before diving into the details of the plan, understand what a downpayment means. Down payment in bike finance is the initial contribution that you pay from your savings when you apply for a loan to buy a bike. This means you have to pay something between 5% and 15% of the value of the model upfront. The lender then offers 85% to 90% of the product’s value as a loan. To make the down payment, you would need to have some money saved up.

Zero Down Payment Two-Wheeler Loan

A zero down-payment two-wheeler loan offers you the option to be able to purchase a bike even if you do not have an initial amount saved up. In this case, the bank loans you the entire cost of the vehicle. You may still have to pay a small loan processing fee, but it is only a tiny fraction of the cost. 

Benefits of a Zero Down Payment Two-Wheeler Loan

Zero down-payment two-wheeler loan has all the added benefits of any two-wheeler loan. This makes it an ideal payment option if you are looking to buy your dream bike. Some of its features and benefits are

  • Zero down-payment: You have to invest nothing initially as the bank finances the entire cost of the two-wheeler. This removes any financial strain from your savings.
  • Online application and instant approval: You can now apply for a zero down payment two-wheeler loan online, sitting at your home. If all your documents are in order, then the loan gets almost instantly approved. With just a few clicks you can get the money credited to your account
  • High loan amount: Some banks offer two-wheeler loans that can be as high as Rs. 15 lakh. Both self-employed and salaried individuals can apply for these loans.
  • Interest rate: Interest rates usually vary between 8% to 28% per annum. The rate of interest depends on several factors like your annual income, the model of the bike you are buying, your credit score, etc. 
  • Minimal hassle: You only need the standard documentation to apply for the loan. Most banks also offer a customized and flexible payment schedule to make the process of repayment more comfortable for you.


By now you are probably wondering just how soon you can apply for the loan. But first, you should check the eligibility criteria for the zero down payment two-wheeler loan. While these may vary from lender to lender, a few standard eligibility criteria are:

  • A minimum gross annual income of ₹72,000 for those self-employed and ₹84,000 a year for salaried people.
  • A good credit score is imperative for applying for a zero down payment two-wheeler loan
  • You need to be between 21 and 65 years of age
  • You will need to be living for at least one year at the address you have given.
  • You should have been working for at least one year.

Have you been worrying about not having enough money saved up to buy the bike you wanted? Then the zero down payment Two wheeler loan is the ray of hope that you were waiting for. This is by far the most effortless way to buy a bike since it requires absolutely zero initial investment from you! 


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