Official Rates • Updated Oct 2026Indian Overseas Bank Two Wheeler Loan Calculator 2026
Verified IOB bike & scooter loan rates of 10.85% - 14.15% p.a. — calculate your EMI with down payment, total interest & repayment schedule.
Interest Rate
10.85% - 14.15%
RLLR + spread (RLLR revised to 8.35% w.e.f. 08.10.2026)
Processing Fee
Full waiver of processing charges on vehicle loans (product page)
See official schedule
Max Funding
Up to 90%
Of vehicle price
Loan Tenure
Up to 72 months
6 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
IOB official range: 10.85% - 14.15%Verified from official website
%
10.85%14.15%
years
Monthly EMI
₹3.27 K
for 3 years
Loan Amount
₹1.00 L
Total Interest
₹17.60 K
Total Amount
₹1.18 L
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IOB Two Wheeler Loan Interest Rate & Charges (2026)
Interest rate, processing fee, tenure and prepayment terms as published by IOB
| Particulars | IOB Two Wheeler Loan |
|---|---|
| Interest Rate | 10.85% - 14.15% p.a. |
| Rate Benchmark | RLLR + spread (RLLR revised to 8.35% w.e.f. 08.10.2026) |
| Processing Fee | Full waiver of processing charges on vehicle loans (product page) |
| Maximum Funding (LTV) | Up to 90% of the vehicle price |
| Maximum Tenure | 72 months (6 years) |
| Effective Date | Vehicle loan rates w.e.f. 15.12.2025; RLLR revised w.e.f. 08.10.2026 |
Important Notes
- IOB's published two-wheeler rates (10.85%-14.15%) are worked out on an RLLR of 8.10%, but the same page states "RLLR (w.e.f 08.10.2026) - 8.35%". On the new RLLR the individual two-wheeler range would be 11.10%-14.40% until IOB updates the table.
- New two-wheelers only (including electric); up to 90% of vehicle cost, up to 72 EMIs. No maximum loan amount or foreclosure charge published.
- Product: https://www.iob.bank.in/en/iob-vehicle-loans
Last verified against the official IOB website on Oct 2026.
IOB Two Wheeler Loan Scheme-wise Rates
IOB publishes separate rates for these two wheeler loan variants.
| Scheme / Segment | Interest Rate (p.a.) |
|---|---|
| Individual two-wheeler (floating, by CIC score)RLLR + 2.75 (score 800+) to RLLR + 6.05 (680-699) | 10.85% - 14.15% |
| Individual electric two-wheeler (floating)RLLR + 2.55 to RLLR + 5.85 | 10.65% - 13.95% |
| IOB Pink Wheel scheme - two wheelerNon-electric 9.75%-12.25%, electric 9.55%-12.05% | 9.55% - 12.25% |
| Vehicle loan (2 wheeler) - fixed rate | from 13.00% |
Compare IOB 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.
IOB Bike Loan EMI: Worked Example
Live from the calculator above: a ₹1,20,000 bike with ₹20,000 down payment, financed at 10.85% p.a. for 36 months.
Loan Amount
₹1,00,000
Monthly EMI
₹3,267
Total Interest
₹17,612
Processing Fee
Not published
IOB Two Wheeler Loan EMI per ₹1 Lakh
EMI on a ₹1,00,000 loan at IOB's lowest and highest published rate.
| Tenure | EMI @ 10.85% | EMI @ 14.15% |
|---|---|---|
| 12 months | ₹8,831 | ₹8,986 |
| 24 months | ₹4,654 | ₹4,808 |
| 36 months | ₹3,267 | ₹3,425 |
| 48 months | ₹2,577 | ₹2,740 |
| 72 months | ₹1,896 | ₹2,069 |
Before You Apply for a IOB 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; confirm IOB's charges before signing.
- 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 IOB until the loan is closed, after which you get an NOC to remove it from the RC.
Indian Overseas Bank Two Wheeler Loan FAQs
Common questions about IOB bike and scooter loan interest rates, EMI, charges and foreclosure in 2026.
What is the IOB two wheeler loan interest rate in 2026?
IOB's officially published two wheeler loan interest rate is 10.85% - 14.15% p.a. This is IOB's published rate card for two wheeler loans.
What is the EMI for a ₹1 lakh IOB bike loan?
At IOB's lowest published rate of 10.85% p.a., the EMI on ₹1,00,000 is about ₹3,267 for 36 months or ₹4,654 for 24 months. Use the calculator above for your exact price, down payment and tenure.
What processing fee does IOB charge on a two wheeler loan?
IOB's published processing fee is: Full waiver of processing charges on vehicle loans (product page).
Can I foreclose my IOB two wheeler loan early?
IOB does not publish two wheeler specific foreclosure charges on its website; check your sanction letter.
How much of the bike price does IOB finance, and for how long?
IOB finances up to 90% of the vehicle price, repayable over up to 72 months.
How is the IOB 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.