Official Rates • Updated Oct 2026Bank of India Two Wheeler Loan Calculator 2026
Verified BOI bike & scooter loan rates of 10.50% - 12.90% p.a. — calculate your EMI with down payment, total interest & repayment schedule.
Interest Rate
10.50% - 12.90%
RBLR 8.35% w.e.f. 07.10.2026 + spread (floating)
Processing Fee
Two wheeler / old vehicle: 1.0% of loan amount, minimum Rs.1,000, maximum Rs.5,000; 50% concession for e-vehicles
≈ ₹5,000 for current loan
Max Funding
Up to 90%
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
BOI official range: 10.5% - 12.9%Verified from official website
%
10.5%12.9%
years
Monthly EMI
₹3.25 K
for 3 years
Loan Amount
₹1.00 L
Total Interest
₹17.01 K
Total Amount
₹1.17 L
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BOI 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
₹77,859
Foreclosure fee
₹2,756
3% of outstanding + GST
Total to close
₹80,615
Interest saved
₹9,897
Closing now leaves you ₹7,141 better off
₹9,897 interest avoided − ₹2,756 fee = ₹7,141 net benefit.
| Close after | Outstanding | Fee | Net benefit |
|---|---|---|---|
| 6 mos | ₹85,433 | ₹3,024 | ₹9,050 |
| 12 mos | ₹70,085 | ₹2,481 | ₹5,440 |
| 24 mos | ₹36,872 | ₹1,305 | ₹825 |
Official BOI Foreclosure & Prepayment Terms
Published schedule of charges • Verified banking disclosure
BOI 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 prepayment penalty”
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 BOI will include exact accrued interest up to the settlement date.
BOI Two Wheeler Loan Interest Rate & Charges (2026)
Interest rate, processing fee, tenure and prepayment terms as published by BOI
| Particulars | BOI Two Wheeler Loan |
|---|---|
| Interest Rate | 10.50% - 12.90% p.a. |
| Rate Benchmark | RBLR 8.35% w.e.f. 07.10.2026 + spread (floating) |
| Processing Fee | Two wheeler / old vehicle: 1.0% of loan amount, minimum Rs.1,000, maximum Rs.5,000; 50% concession for e-vehicles |
| Foreclosure / Prepayment | No prepayment penalty |
| Maximum Funding (LTV) | Up to 90% of the vehicle price |
| Maximum Tenure | 60 months (5 years) |
| Effective Date | Floating w.e.f. 07.10.2026; fixed w.e.f. 01.01.2026 |
Important Notes
- Bank of India's floating-rate PDF (w.e.f. 07.10.2026): "For Two Wheelers ... RBLR + 2.15% presently 10.50% / RBLR + 2.25% presently 10.60%".
- The Star Vehicle Loan page says "Starting from 7.60%"; that is the floor for the whole vehicle scheme (cars / super bikes), not ordinary two-wheelers.
- Up to 90% funding for new vehicles, up to 60 months for two-wheelers. No maximum loan amount published.
- Product: https://bankofindia.bank.in/vehicle-loan/star-vehicle-loan-individual
Last verified against the official BOI website on Oct 2026.
BOI Two Wheeler Loan Scheme-wise Rates
BOI publishes separate rates for these two wheeler loan variants.
| Scheme / Segment | Interest Rate (p.a.) |
|---|---|
| Star Vehicle Loan - two wheelers (floating)Salaried RBLR + 2.15% (10.50%); non-salaried RBLR + 2.25% (10.60%) | 10.50% - 10.60% |
| Two wheelers (fixed for 5 years)Salaried 12.80%, non-salaried 12.90%; w.e.f. 01.01.2026 | 12.80% - 12.90% |
| Super bikes above Rs.5 lakh (floating)Priced with four-wheelers, by CIBIL score | 7.85% - 10.25% |
Compare BOI 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.
BOI Bike Loan EMI: Worked Example
Live from the calculator above: a ₹1,20,000 bike with ₹20,000 down payment, financed at 10.5% p.a. for 36 months.
Loan Amount
₹1,00,000
Monthly EMI
₹3,250
Total Interest
₹17,000
Processing Fee
≈ ₹5,000
BOI Two Wheeler Loan EMI per ₹1 Lakh
EMI on a ₹1,00,000 loan at BOI's lowest and highest published rate.
| Tenure | EMI @ 10.5% | EMI @ 12.9% |
|---|---|---|
| 12 months | ₹8,815 | ₹8,927 |
| 24 months | ₹4,638 | ₹4,749 |
| 36 months | ₹3,250 | ₹3,365 |
| 48 months | ₹2,560 | ₹2,678 |
| 60 months | ₹2,149 | ₹2,270 |
Before You Apply for a BOI 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; BOI'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 BOI until the loan is closed, after which you get an NOC to remove it from the RC.
Bank of India Two Wheeler Loan FAQs
Common questions about BOI bike and scooter loan interest rates, EMI, charges and foreclosure in 2026.
What is the BOI two wheeler loan interest rate in 2026?
BOI's officially published two wheeler loan interest rate is 10.50% - 12.90% p.a. This is BOI's published rate card for two wheeler loans.
What is the EMI for a ₹1 lakh BOI bike loan?
At BOI's lowest published rate of 10.5% p.a., the EMI on ₹1,00,000 is about ₹3,250 for 36 months or ₹4,638 for 24 months. Use the calculator above for your exact price, down payment and tenure.
What processing fee does BOI charge on a two wheeler loan?
BOI's published processing fee is: Two wheeler / old vehicle: 1.0% of loan amount, minimum Rs.1,000, maximum Rs.5,000; 50% concession for e-vehicles.
Can I foreclose my BOI two wheeler loan early?
BOI's published foreclosure / prepayment terms: No prepayment penalty.
How much of the bike price does BOI finance, and for how long?
BOI finances up to 90% of the vehicle price, repayable over up to 60 months.
How is the BOI 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.