Three Wheeler Loan Interest Rates
Three wheelers are the preferred mode of transport in Indian cities. Low-interest three-wheeler loans have made it affordable and convenient for Indians to buy three-wheeler of their choice.
One can easily apply for three wheeler loans with Bajaj Auto Credit. You can comfortably pay off the monthly instalments as we offer attractive interest rates. Interest rate can directly affect the equated monthly instalment or the EMI you are expected to pay for the loan tenor. Even the slightest change of 0.25% rate can have a major impact on the EMI. Therefore, interest rates play a key role in three-wheeler finance and we ensure that our customers are getting an attractive interest rate.
Interest Rate Methodology
Interest rate applicable for Loans in BACL varies basis BACL internal credit and risk policy and as per an algorithmic multivariate score card which includes following variables (the variable list mentioned below is not exhaustive):
(a) Interest rate risk (fixed loan viz floating loan) (b) Credit and default risk in the related business segment; (c) Historical performance of similar homogeneous clients; (d) Profile of the Borrower; (e) Industry segment; (f) Repayment track record of the Borrower; (f) Nature and value of collateral security (g) Secured viz unsecured loan; (h) Subvention available (i) Ticket size of loan; (j) Credit Bureau Score; (k) Tenure of loan; (l) Location delinquency and collection performance (j) Customer indebtedness in other existing loans. The aforesaid variables may be revised from time to time as per the Lender’s past performance in a given loan portfolio.
Bajaj Auto Credit Loan Interest Rates
Annualised ROI is Starting from
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Upto Max of 40% for three-wheeler and Qute
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Loan Tenure
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From 3 months to 84 months for three-wheeler and Qute
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Processing fees
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For Three-Wheeler & Qute:
For new Vehicles:
-Up to 6% (inclusive of applicable taxes) of Loan Amount as standard percentage.
-Up to 30% of Loan Amount for Zero and Low ROI (Up to 15%) schemes.
For Refinance and Used Finance upto 25% of Loan Amount.
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Loan Amount
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From min 10,000 and upto 5,00,000 for three-wheeler and Qute
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Disclaimer : Annualised ROI mentioned is Excluding of HTH,STS & Advance EMI Cases Apply for Loan Calculate Your EMI
How is Interest Calculated on Three-wheeler Loan?
As is obvious above, before getting three-wheeler finance it is important to know the three-wheeler loan interest rates. Interest rates on three-wheelers vary for applicants based on their profile, repayment capacity, income level and the type of loan.
- Three-wheeler loan interest rates vary according to the category of the three wheelers.
- For secured loans, the interest rate is lower while unsecured loans are offered on higher interest rates.
- Your financial status also has an impact on the interest rate of the Three-Wheeler Loan. Your income is considered a parameter in determining your repayment capacity and credibility.
- Salaried individuals with a stable job are usually offered Three-wheeler loans on lower interest rates while self-employed individuals are offered loans on higher interest rates.
The EMIs for three-wheeler loans are structured depending upon all these factors.
Advantages of Taking a Three Wheeler Loan from Bajaj Auto Credit
As is mentioned above, Bajaj Auto Credit offers the lowest rate of interest to its customers. Apart from that, there are several other advantages of taking a Three-wheeler loan from us. These are:
- Hassle free documentation and speedy processing
- Quick disbursal of three-wheeler loans
- Low-interest rates and low-cost EMIs
- Convenient repayment schedule
- Flexibility to choose the tenure and EMI schedule as per your monthly budget
- Nominal foreclosure charges
- Three-wheeler loans offered to salaried professionals as well as self-employed individuals
- Partial foreclosure option is available
- Call center, customer support in ten different languages
- Special offers for existing customers and customers with an exceptional track record
Contact us now and get a Bajaj three-wheeler loan with the lowest rate of interest!
Apply for Loan Calculate Your EMI
Three-Wheeler Loan Interest Rate FAQs
Q: What is the three-wheeler loan interest rate of Bajaj Auto Credit?
The Bajaj Auto Credit provides an attractive interest rates in addition with 1% onwards* processing fee of the loan amount.
Q: What are the main factors that affect three-wheeler loan interest rate?
The main factors that affect the three-wheeler loan interest rate are the loan amount, loan tenure, employment history and credit history of the borrower.
Q: What is minimum down payment required for a three-wheeler loan?
Bajaj Auto Credit provides finance upto 95%* that means you only need to pay around 5%* of the value of the three-wheeler as down payment. It also depends on your loan amount, repayment tenure, employment and credit history.
Rajiv Bajaj
Chairman, Non-Executive Director
Mr. Rajiv Bajaj is the Chairman, non-executive director of the Company.
He graduated first in class, with distinction, in Mechanical Engineering from
the University of Pune in 1988, and then completed his masters in Manufacturing
Systems Engineering from the University of Warwick in 1991.
He has since worked at Bajaj Auto in the areas of Manufacturing & Supply Chain
(1990-95), R&D and Engineering (1995-2000), and Marketing and Sales (2000-2005).
He has served on the board of Bajaj Auto Ltd since March 2002 and has been its
Managing Director since April 2005.
He has won several awards and recognition from various prestigious bodies and
institutions for business leadership, entrepreneurship and innovation.
His current priority is the application of the scientific principles of
Homoeopathy to the task of building a brand centered strategy at Bajaj Auto with
the objective of achieving its vision of being one of the world's leading
motorcycle manufacturers.
His directorships and other full-time positions in bodies corporates are as
follows:
- Bajaj Finserv Limited
- Bajaj Holdings & Investment Limited
- Bajaj Electricals Limited
- Bajaj Auto Limited
- Bajaj Finance Limited
- Bajaj Auto Technology Limited
- Bajaj Sevashram Pvt. Limited
- Kamalnayan Investment & Trading Pvt. Limited
- Rupa Equities Pvt Limited
- Rahul Securities Pvt. Limited
- KTM Power Sports A G
- Pierer Mobility AG
- Pierer Bajaj AG
- Mahakalpa Arogya Pratisthan
- Bhoopati Shikshan Pratisthan
Mr.Rakesh Sharma
Non-Executive Director
Mr. Rakesh Sharma is the non-executive director of the Company.
He joined Bajaj Auto Limited, the holding Company in October 2007 as President
(International Business) and is now an Executive Director of Bajaj Auto Limited.
He led the International Business for over 10 years during which the business
grew in scale to nearly INR ~10,000 crores representing close to 40% of Bajaj
Auto’s revenues then. He was elevated to the position of Chief Commercial
Officer in July 2018 with the responsibility to lead the front-end Business
Units.
He is a member of the Board of Commissioners of PT Bajaj Auto Indonesia, a
subsidiary of Bajaj Auto Ltd. He is the Chairman of the Exports Council of the
Society of Indian Automobile Manufacturers (SIAM) and the President of the
International Motorcycle Manufacturers’ Association.
Prior to joining Bajaj Auto, Mr. Sharma worked for over 20 years with the ICI
Group in the chemicals, speciality materials and paints businesses in India and
overseas. His last posting was as CEO-Southeast Asia for ICI Paints. Mr Sharma
is a Commerce graduate from Delhi University and holds a PGDM from IIM
Ahmedabad.
Kevin D'sa
Managing Director
Mr. Kevin D'sa, has acquired a Bachelor's degree in Commerce from Pune
University, completed his CA in 1978 and ICWA in 1981. He began his career with
Bajaj Auto Limited in September 1978 and has completed 45+ years in BAL. He is
presently the President - Retail Finance in Bajaj Auto Limited. Before taking
over his current responsibility in 2019, he was heading the Finance function as
President (Finance) & CFO of Bajaj Auto Limited for several years. He has also
been the CFO of leading Bajaj Group NBFCs like Bajaj Finserv Ltd. and Bajaj
Holdings and Investment Limited.
Shri Pradip Shah
Independent Director
Mr. Pradip Shah is the Independent Director of the Company.
Mr. Pradip P Shah runs IndAsia, a corporate finance and investment advisory
business. He is also the co-founder of www.Grow-Trees.com, a web-enabled social
initiative. Earlier, IndAsia had a joint venture with AMP of Australia for the
private equity business. Prior to that, he helped establish the Indocean Fund in
1994, the first foreign India-dedicated private equity fund, in association with
affiliates of Chase Capital Partners and Soros Fund Management.
Before starting Indocean, he was the founder Managing Director of CRISIL,
India's first credit rating agency. Mr. Shah provided technical assistance and
training to Rating Agency Malaysia Berhad and MAALOT. He has been honored with a
garden of a hundred trees in his name in Israel. Prior to founding CRISIL, Mr.
Shah assisted in founding Housing Development Finance Corporation (HDFC),
India's first retail housing finance company, in 1977 where he was seconded from
ICICI, where he was Project Officer. Mr. Shah has also served as a consultant to
USAID, the World Bank and the Asian Development Bank.
Mr. Shah holds an MBA from Harvard, is a Management Accountant and ranked first
in India in the Chartered Accountants' examinations.
He has written articles and given talks in India and in Amsterdam, Abu Dhabi,
Bahrain, Bangkok, Copenhagen, Hong Kong, Istanbul, Singapore, Kuala Lumpur,
Jakarta, Shanghai, Bali, Colombo, Tel Aviv, London, Oslo, Washington, San
Francisco, New York, Chicago, Boston, Perth, Melbourne and Sydney on credit
rating housing finance, capital market, venture capital and other subjects.
Mr. Shah is Chairman of Kansai Nerolac Paints, Sonata Software, BASF (India),
Pfizer Ltd and Director of Godrej & Boyce and Bajaj Auto amongst other
companies. He serves as Chairman of the Advisory Board of Infomo Global of
Singapore, as member of Dun & Bradstreet International Advisory Board, and
member of the Advisory Board of 4FO-X Ventures, Switzerland. He is Member, Banks
Board Bureau appointed by the Government of India, was Chairman of IFSC
International Retail Business Development Committee, was a member of the
Committee for Economic Development of Gujarat post-Covid served on the Justice
Easwar Committee for simplifying direct taxes, serves on the Management
Committees of the IMC Chamber and Bombay Chamber, was a Director on the Western
Region Board of Reserve Bank of India, was the first Chairman of the CII's
Financial Sector Committee, and has served as a member of the Finance Commission
of the State Government of Gujarat; of the Expert Group on Infrastructure
Financing appointed by the Government of India; of the Advisory Board of the
Bureau of State Public Enterprises, Government of Maharashtra of the CII
National Task Force on Non-Performing Assets; of the SEBI Committee on Venture
Capital; of the SIDBI Working Group on Access to Capital Markets for Small
Industries; of the Expert Committee, Public Sector Restructuring Program,
Government of Gujarat, and of the Gujarat Infrastructure Development Board Task
Force on Policy and Implementation. He also serves as Governing Council Member
of Somaiya Vidyavihar University and other non-profit organizations and
co-founded Harvard Business School Association of India.
Arun Nathani
Independent Director
Mr. Arun Nathani is the Independent Director of the Company. He is also the
Chief Executive Officer and Managing Director of Cybage Software. Cybage is a
data-driven company, and this work ethic primarily originates from Arun's
thought process of giving more importance to how the analysis of data is applied
to decision-making rather than the data alone. This thought process has led to
the conceptualization of ExcelShore™ for Digital Excellence, which is a unique
data-driven system used for all core decision-making in the organization.
Arun started his career as a software design engineer in the USA and has been
contributing to software development and quality management ever since. He
returned to India in the early ’90s and founded Cybage with the intention of
creating one of the most efficient IT service companies in the world that
provides a high value chain in the product engineering and IT services space. He
believes that the right balance must be struck between being ‘customer-centric’
and ‘employee-centric’ in order to benefit from and provide benefits to both
entities. He is a strong believer in the empowerment of the society through
education and has been instrumental in establishing and promoting two Corporate
Social Responsibility wings of Cybage: CybageAsha and CybageKhushboo.
Arun was awarded the ‘CEO of the Year Award’ by the National Awards in IT
Excellence. He has also been conferred the ‘CEO with HR orientation Award’
during the Talent & HR Leadership conference organized by World HRD Congress and
ET Now. He was honored with the ‘Global HR Excellence’ award at the Asia Pacific
HRM Congress.
Arun is dedicated towards staying healthy and is very disciplined about it. He
encourages all Cybagians to maintain a healthy physical and mental state in
order to attain optimal productivity and a balanced personal and professional
life. He is a conscious writer, drawing out management lessons from real-life
situations and sharing them on his blog www.arunnathaniblog.com, which is
regularly read by all Cybagians and a large populace outside of Cybage.
Smita Mankad
Independent Director
Ms. Smita Mankad has three decades of experience spanning the corporate, social
and government sectors, and further, a combination of both grassroots level work
and board level governance – unique combinations that give her an unparalleled
perspective on both policy and implementation. An Independent Woman Director on
top level corporate boards, and an independent consultant to retail, social and
craft enterprises offering business planning support to ensure sustainability,
where she aims to combine commercial impact with social impact – her area of
interest, passion and experience.
Smita currently serves as Independent Woman Director on the Boards of Fabindia
Limited, Mahindra Heavy Engines Ltd. (MHEL), Blue Planet Integrated Waste
Solutions Ltd., Mahindra Rural Housing Finance Ltd., Swaraj Engines Ltd.,
Imperial Auto Industries Ltd., Bajaj Auto Credit Ltd and DSP India International
Financial Services Centre. She is also on the Boards of the Women on Wings
Foundation in the Netherlands and India; WOW is an Indo-Dutch organization whose
aim is to create 1 million jobs for women in rural India, and TARSHI, an NGO
which works on creating safe spaces for young people. She has served on the
Boards of Mahindra Vehicle Manufacturing Ltd. till its merger into M&M, Mahindra
Renewables (solar), Mahindra Auto Steel Ltd., and Compact India Pvt. Ltd., a
company in the area of international humanitarian aid producing rescue food for
severely malnourished children.
An Economics (Hons) graduate from Lady Shriram College for Women (1989-92) Delhi
University, and an MBA from Narsee Monjee Institute of Management Studies
(1992-94) Mumbai University, India, she started her career with TATA Motors in
export finance, and after 6 years with ABN AMRO Bank in corporate banking
product management, moved to Fabindia where she has spent 12 years across
various divisions including international business, retail operations and
setting up new stores, launching the personal care range, creating systems
processes and internal audits, and thereafter managing the Fabindia’s entire
sourcing and supply chain its wholly owned subsidiary Artisans Micro Finance
Pvt. Ltd. (AMFPL), of which she was Managing Director from 2008 to 2013. She
also worked with ORGANIC INDIA from 2013 – 15 on their nutrition, preventive
healthcare and wellness enterprise.
Smita has participated in Vital Voices programs and received several awards,
including the Vedica Women’s Alliance V-WA 50 Award and the Social Innovation
Award. She was awarded the Chevening Fellowship at the University of Oxford in
2021.
She remains committed to social entrepreneurship, women's leadership, and
mentoring, and practices reflexology while running a zero waste-to-landfill
home.