Official Rates • Updated Oct 2026Bank of Maharashtra Two Wheeler Loan Calculator 2026
Verified Bank of Maharashtra bike & scooter loan rates of 11.20% - 14.05% p.a. — calculate your EMI with down payment, total interest & repayment schedule.
Interest Rate
11.20% - 14.05%
RLLR 8.05% (w.e.f. 31.08.2026) + spread
Processing Fee
0.50% of loan amount, minimum Rs.500, maximum Rs.5,000 (excluding GST)
≈ ₹590 for current loan
Max Funding
Up to 85%
Of vehicle price
Loan Tenure
Up to 60 months
5 years max
Bike Loan Calculator
Calculate Your Two Wheeler EMI Instantly
Plan your bike, scooter, or electric two-wheeler purchase with our compact EMI calculator – quick, simple, and always on top!
₹
One Lakh Twenty Thousand rupees
₹
Twenty Thousand rupees
Bank of Maharashtra official range: 11.2% - 14.05%Verified from official website
%
11.2%14.05%
years
Monthly EMI
₹3.28 K
for 3 years
Loan Amount
₹1.00 L
Total Interest
₹18.20 K
Total Amount
₹1.18 L
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Bank of Maharashtra Foreclosure Charge Calculator
See exactly what closing this loan early would cost you — and whether the interest you save makes it worth it.
₹
EMIs paid when you close9 mos
035 months
Estimated Foreclosure Fee (%)3% + GST
Outstanding
₹78,043
Foreclosure fee
₹2,763
3% of outstanding + GST
Total to close
₹80,806
Interest saved
₹10,608
Closing now leaves you ₹7,845 better off
₹10,608 interest avoided − ₹2,763 fee = ₹7,845 net benefit.
| Close after | Outstanding | Fee | Net benefit |
|---|---|---|---|
| 6 mos | ₹85,567 | ₹3,029 | ₹9,905 |
| 12 mos | ₹70,306 | ₹2,489 | ₹6,005 |
| 24 mos | ₹37,111 | ₹1,314 | ₹976 |
Official Bank of Maharashtra Foreclosure & Prepayment Terms
Published schedule of charges • Verified banking disclosure
Bank of Maharashtra publishes descriptive terms for preclosure charges. Use the fee percentage slider in the calculator above to model your exact payoff statement.
Verbatim Published Clause
“No pre-payment charges for floating rate retail loans to individuals”
18% GST Applicable: Prepayment & foreclosure fees attract 18% statutory GST as mandated by Government of India taxation rules.
Payoff Calculation: Estimates assume a monthly reducing balance. Official payoff statement from Bank of Maharashtra will include exact accrued interest up to the settlement date.
Bank of Maharashtra Two Wheeler Loan Interest Rate & Charges (2026)
Interest rate, processing fee, tenure and prepayment terms as published by Bank of Maharashtra
| Particulars | Bank of Maharashtra Two Wheeler Loan |
|---|---|
| Interest Rate | 11.20% - 14.05% p.a. |
| Rate Benchmark | RLLR 8.05% (w.e.f. 31.08.2026) + spread |
| Processing Fee | 0.50% of loan amount, minimum Rs.500, maximum Rs.5,000 (excluding GST) |
| Foreclosure / Prepayment | No pre-payment charges for floating rate retail loans to individuals |
| Maximum Funding (LTV) | Up to 85% of the vehicle price |
| Maximum Loan Amount | ₹25,00,000 |
| Maximum Tenure | 60 months (5 years) |
| Effective Date | RLLR w.e.f. 31.08.2026 |
Important Notes
- Mahabank Vehicle Loan Scheme for two wheelers: rate depends on CIBIL score, from RLLR + 3.15% = 11.20% (750+) to RLLR + 6.00% = 14.05% (below 600).
- Maximum Rs.5 lakh for regular / EV two-wheelers; Rs.25 lakh for high-end bikes above 500cc. Minimum margin 15% of on-road price; up to 60 months.
- Product: https://bankofmaharashtra.bank.in/mahabank-vehicle-loan-scheme-for-two-wheelers-loans
Last verified against the official Bank of Maharashtra website on Oct 2026.
Bank of Maharashtra Two Wheeler Loan Scheme-wise Rates
Bank of Maharashtra publishes separate rates for these two wheeler loan variants.
| Scheme / Segment | Interest Rate (p.a.) |
|---|---|
| CIBIL 750 and aboveRLLR + 3.15% | from 11.20% |
| CIBIL 700-749RLLR + 3.50% | from 11.55% |
| CIBIL 650-699RLLR + 4.00% | from 12.05% |
| CIBIL 600-649RLLR + 5.00% | from 13.05% |
| CIBIL below 600RLLR + 6.00% | from 14.05% |
| New to credit (CIBIL -1 / 0 / 1-5)RLLR + 4.00% | from 12.05% |
Compare Bank of Maharashtra with Other Two Wheeler Loan Lenders (2026)
Bike loan interest rates from each lender's official website, sorted by lowest starting rate.
Comparing for₹1,00,000 (36 mo)
Sort by:
| Lender | Interest Rate (p.a.) | Est. Monthly EMI | Calculated Processing Fee | Total Payable (incl. fees & interest) |
|---|---|---|---|---|
| 8.86% - 22.00% | ₹3,173 | Up to ₹5,900 | ₹1,20,128 | |
| 8.90% - 11.70% | ₹3,175 | 1% on the loan amount (processing-fee page); the service-charges circular w.e.f. 01.01.26 lists Rs.1,000 irrespective of loan amount for the Vehicle Loan Scheme | ₹1,14,300 | |
| 9.00% - 13.35% | ₹3,180 | ₹1,000 | ₹1,15,480 | |
| 9.00% - 24.00% | ₹3,180 | Up to ₹5,000 | ₹1,19,480 | |
| 9.50% - 25.92% | ₹3,203 | Up to ₹5,000 | ₹1,20,308 | |
| 10.00% - 30.00% | ₹3,227 | Up to ₹5,000 | ₹1,21,172 | |
| 10.10% - 15.75% | ₹3,231 | Up to ₹1,180 | ₹1,17,496 | |
| 10.25% - 26.10% | ₹3,238 | Up to ₹4,000 | ₹1,20,568 | |
| 10.25% - 11.35% | ₹3,238 | Up to ₹500 | ₹1,17,068 | |
| 10.45% - 12.95% | ₹3,248 | ₹1,475 | ₹1,18,403 | |
| 10.50% - 12.90% | ₹3,250 | Up to ₹5,000 | ₹1,22,000 | |
| 10.50% - 11.50% | ₹3,250 | 0.50% of loan amount + GST (loan up to Rs.10 lakh); stamp duty at actual; log-in charges Rs.2,000 for applicant and Rs.1,300 for each co-applicant/guarantor (non-refundable) | ₹1,17,000 | |
| 10.75% - 13.65% | ₹3,262 | ₹2,360 | ₹1,19,792 | |
| 10.85% - 12.35% | ₹3,267 | Up to ₹590 | ₹1,18,202 | |
| 10.85% - 14.15% | ₹3,267 | Full waiver of processing charges on vehicle loans (product page) | ₹1,17,612 |
Live figures calculated for ₹1,00,000 over 36 months. Rates and fee formulas sourced directly from each lender's official website (last verified 8 Oct 2026) and auto-refreshed. GST at 18% is added where charged by the lender.
Bank of Maharashtra Bike Loan EMI: Worked Example
Live from the calculator above: a ₹1,20,000 bike with ₹20,000 down payment, financed at 11.2% p.a. for 36 months.
Loan Amount
₹1,00,000
Monthly EMI
₹3,283
Total Interest
₹18,188
Processing Fee
≈ ₹590
Bank of Maharashtra Two Wheeler Loan EMI per ₹1 Lakh
EMI on a ₹1,00,000 loan at Bank of Maharashtra's lowest and highest published rate.
| Tenure | EMI @ 11.2% | EMI @ 14.05% |
|---|---|---|
| 12 months | ₹8,847 | ₹8,981 |
| 24 months | ₹4,670 | ₹4,804 |
| 36 months | ₹3,283 | ₹3,420 |
| 48 months | ₹2,594 | ₹2,735 |
| 60 months | ₹2,184 | ₹2,329 |
Before You Apply for a Bank of Maharashtra Two Wheeler Loan
- Compare the all-in cost, not just the rate. Processing fee, documentation charges and insurance bought through the dealer can add more than a 1% rate difference on a small bike loan.
- A bigger down payment cuts interest fastest. Bike loans are short, so every ₹10,000 less borrowed saves interest across the whole tenure.
- Check foreclosure terms. Many borrowers close bike loans early; Bank of Maharashtra's published terms are listed in the Rates & Charges table above.
- Typical documents: PAN, Aadhaar / address proof, income proof (salary slips or ITR), recent bank statements and the dealer's quotation. The vehicle is hypothecated to Bank of Maharashtra until the loan is closed, after which you get an NOC to remove it from the RC.
Bank of Maharashtra Two Wheeler Loan FAQs
Common questions about Bank of Maharashtra bike and scooter loan interest rates, EMI, charges and foreclosure in 2026.
What is the Bank of Maharashtra two wheeler loan interest rate in 2026?
Bank of Maharashtra's officially published two wheeler loan interest rate is 11.20% - 14.05% p.a. This is Bank of Maharashtra's published rate card for two wheeler loans.
What is the EMI for a ₹1 lakh Bank of Maharashtra bike loan?
At Bank of Maharashtra's lowest published rate of 11.2% p.a., the EMI on ₹1,00,000 is about ₹3,283 for 36 months or ₹4,670 for 24 months. Use the calculator above for your exact price, down payment and tenure.
What processing fee does Bank of Maharashtra charge on a two wheeler loan?
Bank of Maharashtra's published processing fee is: 0.50% of loan amount, minimum Rs.500, maximum Rs.5,000 (excluding GST).
Can I foreclose my Bank of Maharashtra two wheeler loan early?
Bank of Maharashtra's published foreclosure / prepayment terms: No pre-payment charges for floating rate retail loans to individuals.
How much of the bike price does Bank of Maharashtra finance, and for how long?
Bank of Maharashtra finances up to 85% of the vehicle price, with a published maximum loan of ₹25,00,000, repayable over up to 60 months.
How is the Bank of Maharashtra two wheeler loan EMI calculated?
EMI = [P × r × (1 + r)^n] / [(1 + r)^n – 1], where P is the loan amount (vehicle price minus down payment), r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months.