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Recently there has been a gradual shift from petrol and diesel vehicles to electric ones. The demand for electric vehicles is on the rise because of increasing environmental awareness and innovative mobility. They have become the center of attraction for the global automobile industry as they are more sustainable and reliable. However, the adoption rate has been lower because of high costs.

This is where a two-wheeler loan comes into the picture as a savior. It is an affordable financing method to purchase an electric vehicle. The two wheeler loan is offered by many financial institutions and NBFCs to salaried and self-employed individuals. Factors like maintaining a good credit score or having a successful history of payment of monthly installments are considered while financing the loans.

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Best Two Wheeler Loans


The State Bank of India is India’s largest public sector bank. Its interest rates start from 16.95% p.a. for the regular two-wheeler loan scheme. The maximum loan amount for a two-wheeler scheme is Rs. 3 lahks, with a repayment period of 48 months.

Bank of India

Bank of India’s two-wheeler loans can be used to purchase both new and second-hand two-wheelers as well. One can avail of a two-wheeler loan from the Bank of India at interest rates ranging from 7.35% onwards. The maximum loan amount which can be availed under this scheme is Rs.50 lakh with a loan repayment tenure of up to 5 years.

Punjab National Bank

Punjab National Bank offers two different two-wheeler loans, PNB Saarthi, and PNB Power Ride. Its interest rates start from 11.15% p.a. onwards. The maximum loan amount which can be availed is Rs. 1.50 lakhs subject to repayment capacity. PNB Saarthi has a repayment period of 24 months to 60 months while PNB Power Ride has a repayment period of 36 months.


ICICI Bank is one of the largest private lenders in the country. The bank offers two-wheeler loans with interest rates starting at 9.00% p.a. It also offers loan amounts of up to 100% of the on-road price of the two-wheeler with a repayment period of 48 months.

Axis Bank

Axis Bank offers up to 100% on road funding for two wheelers with a minimum loan amount of Rs. 25,001. It has a repayment tenure of 12 to 48 months. The two-wheeler loan interest rates range between 10% to 28% per annum, depending on the loan amount, tenure, engine capacity, bike model, and other features.


HDFC Bank is one of the leading private banks offering two-wheeler loans. It’s interest rates start from 14.50% p.a. onwards. The bank also offers up to 100% of the on-road price with a repayment tenure of 12 months to 48 months.


The Indian market for electric two-wheelers is experiencing significant growth and has become a promising sector for both consumers and investors. With the government’s emphasis on reducing pollution and promoting sustainable transportation, various financing options have emerged to make electric two-wheelers more accessible to the masses.


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