Used Two-Wheeler Loan - Instant Bike Loans At Low Interest Rates

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Second Hand Bike Loan

Get an instant cash loan of up to ₹ 5 Lakh to buy a used bike on EMI

Apply now

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Freo Most Loved Features

Instant approval of a credit line of up to ₹ 5 Lakh in real-time.

Withdraw as small as ₹ 3,000 or up to your approved limit.

Pay interest only on the borrowed amount.

Use the credit card for 100% cash withdrawal and get rewards.

Repay your spends in flexible EMIs of 2-36 months

Minimal documentation of just an ID proof and an address proof to get you started.

Someone like you is happy with Freo

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

Navjyoti

You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.

Julen

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.

N Cavin Misao

I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.

Eligibility Criteria

Must be a full-time salaried employee with a minimum take-home salary of ₹30,000/month

or

Must be a self-employed professional with an income of at least ₹30,000/month.

(Only certain professionals like doctors, lawyers, or business owners qualify)

Must be above 23 years and below 55 years of age

Must be a resident of one of the following cities:

Required Documents

Pan Card Number

Professional Selfie

To be taken on the Freo App

Address Proof

Valid Driving License / Valid Passport / Aadhar Card

ID Proof

Valid Driving License / Valid Passport / Voter’s ID / Aadhar Card / Pan Card

Reasons You're Here

Looking for second-hand bike loan on EMI
Need a convenient and simple process to finance your used bike purchase
Need affordable used bike loan
Need better loan repayment terms
Confused between taking a personal loan vs a traditional two-wheeler loan for second-hand bikes
Approved pre-owned two-wheeler loan limit is lower than expected
The monthly EMIs on second-hand bike loan are too high

You have two options to get a second-hand bike on EMI, without dipping into your savings: traditional two-wheeler finance or personal loan. That said, a personal loan from Freo makes better sense for a second-hand two-wheeler as it gives you better flexibility.

Why Use Freo's Personal Loan to buy Second Hand Bike on EMI?

The personal loan amount approved is not dependent on the valuation of the used bike you plan to purchase. You can get approved of an amount that can pay off 100% of the second-hand two-wheeler cost.
The personal loan approval process is far quicker than traditional two-wheeler loans.
Two-wheeler loans have strict loan repayment rules and require the loan to be fulfilled within a specified time, while personal loans have flexible repayment terms.
You are not required to pledge any collateral as security for the second-hand bike loan.

Tips on Buying a Second-Hand Bike on EMI

Check your credit score and if needed, make improvements to your credit score so that you can qualify for better loan terms.
Examine your budget to figure out how much you can afford to repay every month towards the loan. Don't forget to consider registration, maintenance and motorcycle insurance costs.
Explore the market to ensure you are getting the best deal possible for the second-hand bike you want.
Take test drives before buying the two-wheeler.
Make your repayment affordable by negotiating loan terms and the purchase price of the used bike.
Take the used two-wheeler to your mechanic for a thorough inspection.
Get the maintenance and accident records of the second-hand bike from its owner.