A two-wheeler loan is a financing option that helps you purchase your desired bike or scooter without having to pay the full amount upfront. RING offers a personal loan for bike, allowing you to cover all costs related to your bike, including accessories and insurance.
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Flexible Repayment
Instant Bank Transfer
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About Our Bike Personal Loan
RING’s Personal Loan for Bike is designed to make your dream of owning a two-wheeler a reality without the financial burden. Offering loans up to ₹5 Lakhs with flexible repayment plans ranging from 3 to 24 months, you can finance not just the bike, but also accessories, insurance, and more. The fully digital process ensures instant approval, with no collateral required and 100% financing available. Whether you're salaried or self-employed, RING’s hassle-free application and transparent terms make it easy for you to ride your dream bike today.
Benefits of Bike Personal Loans
Credit up to ₹5 Lakhs: Finance everything from the bike itself to all the must-have accessories.
Flexible repayment plans: Pay it back on your own terms—anywhere from 3 to 24 months.
Instant approval: Get your loan approved and activated in under 5 minutes.
No collateral needed: No need to pledge anything. Your bike dreams are safe with us.
Fully digital: Apply for your loan online and enjoy a quick, paperless KYC process.
Features of Personal Loans for Bike
Credit Up to Rs. 5 Lakhs
Avail of credit up to Rs. 5 lakhs with paperless KYC.
Flexible Repayment
Choose repayment periods from 3 to 60 months.
Instant Approval
Money transferred to your bank account in 5 minutes.
Zero Paperwork
100% Digital - Hassle-free process
No Collateral Required
Secure a loan without pledging any assets.
Transparent Terms
Know all costs upfront with no hidden charges.
Competitive Rates
APR ranges from 32% to 57% per annum.
Multi-Purpose Loans
Use your loan for personal or business purposes
Check Your Eligibility
Instant Personal Loan Eligibility Criteria
To qualify for a personal loan applicants need to meet the following criteria:
- Nationality: Indian citizen.
- Age: Between 23 and 55 years.
- Documentation: Selfie, PAN Card, and Aadhaar Card.
- Income Proof: Required only for select high-value loans based on credit profile.
- Profile : Salaried, Self-Employed, Small busines owner & MSMEs
Having these documents prepared ensures a smoother and quicker application process
Follow these simple steps to get started:
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Verify Mobile Number
Enter your number on the RING app/website, receive an OTP, and verify.
Personal Loan For Bike EMI Calculator
Breaking Down the Cost: Interest Rates Explained
A tool designed to help you understand the monthly payment on your loan. Whenever you take a loan, the EMI amount that you will pay is very important in helping you arrive at your final loan amount and repayment tenure. Our personal loan calculator helps you do just that. You will be able to see your monthly payment, and this will help you decide what your loan amount should ideally be, and if it is payable over a period.
Principal Amount (A): ₹500,000
Interest Amount (B):
Your EMI: ₹ per month
Your Loan Amount: ₹500,000
At Interest Rate of: 2%
For : 2 years
Total Payable: ₹
Here’s a quick example to illustrate:
- Loan Amount (Principal): ₹1,00,000
- Tenure: 12 months
- Interest Rate: 13% per annum
- Processing Fee (incl. GST): ₹3000 (3%)
- Total Interest: ₹7,180.73
- EMI: ₹1,374.63
- APR: Start from 14%
Disclaimer - The Loan EMI Calculator only shows an estimate. Consult your lender for accurate details.
The Formula to Calculate EMI on Bike Personal Loan
The formula for calculating EMI is as follows:
EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]
P= Principal loan amount | R= Monthly interest rate (annual interest rate divided by 12) | N= Loan tenure in months
**To explain it further, let’s see an example:**
Suppose you take a Bike loan for ₹5,00,000 with an annual interest rate (IR) of 10% for a tenure of, say, 5 years (60 months).
First, convert the annual interest rate to a monthly interest rate. In this case, the monthly interest rate would be 10%/12 = 0.00833.
Using the formula, you can calculate the EMI as follows:
EMI = [500000 x 0.00833 x (1+0.00833)^60] / [(1+0.00833)^60-1]
By simplifying the equation, you will find that the EMI for this loan would be approximately ₹10,609.
This means that your monthly payment will be ₹10,609 for 60 months to repay the loan amount along with the interest.
For a more detailed explanation, you can refer to this blog.
Hear from Our Happy Customers
Nardiya
Bengaluru
I always wanted a scooter for my daily commute, but the upfront cost seemed too much. Thanks to RING’s personal loan for bike, I was able to get the scooter of my dreams without any stress. The loan process was incredibly smooth—I applied on the app, completed KYC in minutes, and got my loan approved the same day. Now, I’m paying off the loan with EMIs that fit right into my budget!
Arjun
Chennai
I needed a personal loan for bike accessories and insurance after buying my two-wheeler, and RING delivered instantly. I didn’t have to worry about a down payment, and the flexible repayment options made it really easy for me. It’s not just about the loan—RING’s customer support team was always available to answer any questions. I’m truly happy with my experience!
Sunil
Hyderabad
As a small business owner, I needed a bike for my deliveries, but cash flow was tight. RING’s personal loan for bike came to the rescue. The entire loan application was 100% online, so I didn’t even need to leave my office! I received the loan in my account within hours, and I was on the road by the end of the week. Best of all, I’ve been earning reward points every time I use RING to pay!
Neeta
Delhi
I was a little nervous about applying for a loan, but RING made the entire process super easy. Their app was user-friendly, and the transparent terms meant I knew exactly what I was signing up for. Now I’m riding my dream bike and managing my loan comfortably thanks to RING’s affordable EMIs!
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Got Questions? Let's get to them.
What is a Two-Wheeler Loan?
How can I apply for a Two-Wheeler Loan?
Applying is easy! Just download the RING app, select the personal loan for bike option, complete the simple online KYC, and you’ll get instant approval.
What is the maximum amount I can avail of through a Bike Loan?
You can avail up to ₹5 Lakhs with RING’s personal loan for bike. The amount is based on your eligibility and repayment capability.
Can I avail of 100% financing for my bike purchase?
Yes, RING offers up to 100% financing with no down payment required for your bike. That means you can ride away without paying a single rupee upfront.
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