HDFC Bank Two Wheeler Loan

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HDFC Bank Two Wheeler Loan

HDFC Bank Two Wheeler Loan Key Features

HDFC Two Wheeler Loan Interest Rate 11.83%* per annum
Min Loan Amount ₹ 10,000
Max Loan Amount
(Loan to Value)
Loan up to 90% of On Road Price
or 100% of Ex-showroom Price
Loan Tenure 1 year to 4 years
Lowest EMI / Lac ₹ 2,625
Minimum Net Monthly Income Salaried – ₹ 7,000, Self Employed – ₹ 6,000
Age Criteria 21 years to 65 years(At Loan Maturity)
Types of Vehicle For All New Two-Wheelers (Bikes, Superbikes, etc.)
Processing Fee Up to 3% of the Loan Amount.
Foreclosure Charges 3% – 10% Based on the time of foreclosure ( Foreclosure not allowed during the first 3 months)
Basic Documentation ID Proof, Address Proof, Bank Statement

About HDFC Bank Two Wheeler Loan

HDFC Bank Two Wheeler Loan has become essential for an individual to fulfil his dream of buying a new bike at any cost with any financial resource. HDFC Bank is providing the opportunity of a lifetime by providing Two Wheeler Loans with Lowest Interest Rates & Affordable EMIs.

Advantages of HDFC Bank Two Wheeler Loan 

  1. Easy and hassle-free process
  2. Quick Disbursal of Loan Amount
  3. Fulfil your wants by choosing the Two Wheeler you love
  4. Attractive two wheeler Rate of Interests
  5. Easy Repayment and Prepayment Method.

HDFC Bank Two Wheeler Loan Eligibility

Your ability to repay the loan is the biggest factor in deciding whether you’ll be eligible or not for the HDFC two-wheeler loan. The following are the major criteria’s: 

  • The applicant should be of at least 21 years of age and a maximum of 65 years of age to apply for the loan. 
  • If you have an average monthly income of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re eligible for the HDFC two Wheeler loan.
  • Cibil Score has a direct impact on your two wheeler loan eligibility. If you have a high Cibil score, you can get the approval for the loan easily. 

HDFC Bank Two Wheeler Loan Interest Rate, Fees and Charges

Interest Rate Starts at 11.83% p.a.
Processing Fee Up to 3% of the loan amount (maximum)
Prepayment Charges From 3% to 10% of the outstanding principal
Pre-payment charges Within 4 to 6 months – 10% of principal outstanding
Within 7 to 12 months – 6% of principal outstanding
13-24 months – 5% of principal outstanding
Post 24 months – 3% of principal outstanding
Prepayment is not allowed within three months of EMI repayment

HDFC Bank Two Wheeler Loan Documents Required

1. Salaried Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Compulsory Documents PAN Card
Bank Statement Bank statement of last 3 months

2. Self-Employed Individual

Category Documents Required
Identity Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Address Proof(Any 1) Driving Licence
Aadhaar Card
Passport
Voter ID
Required Documents PAN Card
Bank Statement Bank statement of last 3 months

HDFC Bank Two Wheeler Loan EMI Calculator

The applicant has the option to know the EMI’s before availing of HDFC Two Wheeler Loan. Thus, you can easily check through the link below:

Two Wheeler Loan EMI Calculator

Compare Bike Loan Interest Rates of HDFC Bank with other banks

Bank Two Wheeler Loan Interest Rates Lowest EMI Per ₹ 10 Thousand For Max Tenure
Axis Bank 10.85% ₹ 217 for 5 years
SBI 16.05% ₹ 352 for 3 years
HDFC Bank 9.10% ₹ 249 for 4 years
PNB 9.55% ₹ 210 for 5 years
Bajaj Auto Finance 13.26% ₹ 338 for 3 years
IndusInd Bank 21.00% ₹ 377 for 3 years
Allahabad Bank 10.40% ₹ 214 for 5 years
Andhra Bank 9.90% ₹ 212 for 5 years
Bank of India 7.45% ₹ 200 for 5 years
Union Bank of India 9.90% ₹ 322 for 3 years
United Bank of India 9.55% ₹ 210 for 5 years
Corporation Bank 9.90% ₹ 322 for 3 years
Indian Bank 10.40% ₹ 214 for 5 years
Karnataka Bank 8.48% ₹ 205 for 5 years
Jammu And Kashmir Bank 8.70% ₹ 206 for 5 years
Canara Bank 9.00% ₹ 318 for 3 years

HDFC Bank Two Wheeler Loan Types

HDFC Bank offers multiple types of loans to its customers and you have the option of choosing one of them as per your requirements. You have the following two options:

  1. Two Wheeler Loan – If you wish to buy a two-wheeler and wish to finance it then HDFC has the best offer for you. You can avail this loan at an attractive interest rate of 12%.
  2. Super Bike Two Wheeler Loan – If you’re planning to buy a Superbike and are looking for funds, then this is the best deal available for you at an attractive interest rate of 11.83%.

HDFC Bank Two Wheeler Loan Pre Calculated EMI

Rate 4 yrs 3 yrs 2 yrs 1 yr
11.83% 2625 3313 4699 8876
12.00% 2633 3321 4707 8884
12.50% 2658 3345 4730 8908
13.00% 2682 3369 4754 8931
13.50% 2707 3393 4777 8955
14.00% 2732 3417 4801 8978
14.50% 2757 3442 4824 9002
15.00% 2783 3466 4848 9025
15.50% 2808 3491 4872 9049
16.00% 2834 3515 4896 9073
16.50% 2859 3540 4920 9096
17.00% 2885 3565 4944 9120

How to Apply for HDFC Two Wheeler Loan

You can apply for HDFC Bank Two Wheeler Loan online by visiting Dialabank’s digital platform and then : 

  1. Fill the basic Application Form for Two Wheeler Loan
  2. Please wait for a call from our Relationship Manager
  3. Get personalised assistance and choose the most suitable offer based on your needs. 
  4. Enjoy your Two Wheeler. 

How to avail of two-wheeler loans?

Choose a Two-Wheeler Loan.

  • Choose the two-wheeler loan brand and type that will best fit your needs. HDFC Bank also provides Super Bike Loans if you want anything more than a normal bike.
  • When you apply online, the bank will send workers to your door to complete the paperwork work, so you won’t have to wait in long lines.
  • And you save up to Rs. 12,500 as a result.
  • That’s not everything, though. The advantages of an HDFC Bank two-wheeler loan are numerous.
  • The interest rate is 2% lower for HDFC Bank account holders.
  • You can choose from a 12-month to 48-month repayment period.
  • You’ll get your loan approved quickly, so you won’t have to wait long for your dream car.
  • If you qualify, you might be able to get up to 100% financing with no down payment.

Check Eligibility

  • In less than two minutes, you can confirm your loan eligibility. You can begin your loan application by checking your eligibility for a Two Wheeler Loan by following these simple steps.
  • You may review the eligibility requirements here, which include the applicant’s minimum gross income, age limit, and residency status, among other things.
  • When you select the ‘check eligibility’ choice, you will be directed to a login page.
  • You can log in with your Customer ID and verification code if you already have an HDFC Bank account. If you don’t have a phone, you can still log in using your phone number and a verification code sent to your phone.
  • Holders of an HDFC Bank account will receive a pop-up window informing them of a potential loan amount and tenure option. In most cases, you can take out a loan for up to six times your annual salary. If this choice does not fit your needs, you may choose to ignore it.

Calculate your EMI for a two-wheeler loan.

  • Following an eligibility check, you will learn how much EMI you’ll have to pay on your loan and for how long.
  • The HDFC Bank Two Wheeler Loan EMI Calculator can be found here.
  • Fill in your personal and financial details, as well as the vehicle model and estimated prices.
  • Adjust as required to achieve the best EMI.

Online applications are accepted.

After you’ve completed your research, simply go to the HDFC Bank Two Wheeler Loan website and fill out an application. You will be required to provide personal and financial information. You’ll also need to include specific information about the car, such as the RTO venue, the name of the dealer, and the on-road price.

Since the entire approval process is digital, you will find out the status of your Two-Wheeler Loan application in under 15 minutes.

Submit documents

HDFC Bank has the simplest and easiest documentation process.

Factors Affecting Two-wheeler Loan Application

Here are the certain factors that affect the two-wheeler Loan Application

  1. Credit Score – On a scale of 900, credit rating agencies give you a grade, with anything above 750 considered fine. Your credit score assists the lender in determining your creditworthiness and determining whether or not you are a responsible borrower. Make sure you have a decent credit score before applying for a bike loan with a low-interest rate. This will inform the lender that you are capable of repaying the debt.
  2. Loan Amount – Most financial institutions will lend you up to 85% of your bike’s current on-road price. It means that the higher the cost of your bike, the larger the loan. This will also boost the interest rate. You can quickly calculate your monthly payments with a bike loan EMI calculator.
  3. Loan Tenure – A lender can charge you a high rate of interest to justify the risk and cover their losses in the event of a default. As a result, if you want a loan with a lower interest rate, go for the shorter-term loan. When you get your two-wheeler home, you can use a bike loan EMI calculator to find out how much you’ll have to pay per month.
  4. Dealership Location – Since the price of the car varies, the loan amount you apply for may also vary, depending on whether you pay a higher or lower interest rate. As a result, if you want a bike loan with a lower interest rate, do your research and choose a dealership with a slightly lower bike price.
  5. Secures Vs Unsecured Loan – Depending on the lender, you will be able to choose between the two types of loans or just one. Furthermore, the interest rate can vary depending on the type of loan you select. Unsecured loans, on the whole, have a higher interest rate than secured loans, due to the higher risk associated with the former.

HDFC Bank Two Wheeler Loan for Top Selling Bikes

Other Available Products from HDFC Bank 

HDFC Personal Loan HDFC Gold Loan HDFC Home Loan
HDFC Credit Card HDFC Car Loan HDFC Education Loan

FAQs for HDFC Bank Two Wheeler Loan

What is HDFC Two Wheeler Loan?

HDFC Bank Two wheeler loan is a credit in which you need to pay EMIs every month towards the reimbursement of your two-wheeler credit till the finish of the loan tenure. The lowest EMI offered by HDFC Bank is ₹ 273 for each ten thousand advance sum at a credit loan fee of 14.03%.

How can I get Two Wheeler Loan from HDFC Bank?

Check your credit qualification in only 5 minutes, get speedy endorsements, and discover your advance application status in only 15 minutes. You can profit of a HDFC Bank Two Wheeler Loan at any of more than 3000 branches across India.

How does HDFC Two Wheeler Loan work?

Bike Loan EMI of HDFC Bank is a fixed sum that you pay every month towards the reimbursement of your bicycle advance till the finish of residency. … Your EMI relies on the measure of credit you will obtain. Credit EMI will be high on the off chance that you apply for a high advance sum.

What is the Two Wheeler Loan Interest Rate in HDFC?

SuperBike Two Wheeler Loan 9.10% onwards
Two Wheeler Loan 10.45% onwards

✅ How to check Two Wheeler Loan status in HDFC?

  • Snap the connection -HDFC Loan Status Check.
  • Enter either the Application Number or Reference Number.
  • Enter either PAN no. or then again Mobile Number.
  • Snap “Submit” to check the status.

How to calculate Two Wheeler Loan Interest in HDFC?

You can calculate Two Wheeler Loan Interest in HDFC by clicking the link below:

Two Wheeler Loan EMI Calculator

What is the maximum loan amount I can avail on Two Wheeler Loan from HDFC Bank?

  • Intrigue Rates 14.03%
  • Greatest Loan Amount Eligibility 85% of On Road Price
  • Greatest Loan Tenure 4 years
  • Most reduced EMI per Rs. Ten Thousand Loan Amount ₹ 273
  • Preparing Fee 3% of Loan Amount with Minimum Rs. 600
  • Prepayment Charges 3%-10%, after 3 EMIs
  • Intrigue Calculation EMI on a month to month lessening balance
  • Age Between 21 years and 65 years

What is the loan tenure of HDFC Bank Two Wheeler Loan?

The loan tenure of HDFC Two-wheeler Loan is 4 years.

Can I get 100% Two Wheeler Loan from HDFC Bank?

Most banks offer somewhere in the range of 70% to 90% of the bicycle an incentive as a credit. You may need to dish out the rest as an initial instalment. HDFC Bank offers 100% fund on select models to existing record holders.

How much Processing Fee is applicable on HDFC Two Wheeler Loan?

The processing fee in HDFC two-wheeler loan is 3% of the loan amount with minimum Rs.600.

“What are the EMI options available on HDFC Bank Two Wheeler Loan?

Adaptable Repayment Tenure Decide whether you’d like your advance residency to be only a year, or four years, with our pocket-accommodating EMI reimbursement alternatives.

What are the charges for Prepayment in HDFC Two Wheeler Loan?

HDFC Bank empowers an individual advance borrower to make a pre-conclusion or a pre-instalment of advance. Be that as it may, you will have the option to prepay your HDFC individual credit simply following a year after you have acquired your advance and in the wake of paying 12 EMIs in addition to the dispossession charges that might be pertinent. On the off chance that you meet this prerequisite, you can reimburse your own advance before the first due date and close your credit early.

Can I get a top-up loan on my existing HDFC Bank Two Wheeler Loan?

HDFC Bank offers you a top-up credit on your current vehicle advance regardless of whether you have taken a vehicle advance from another bank furnished you hold a ledger with them. Existing clients of HDFC Bank can either log in to their Netbanking records or visit an HDFC Bank ATM to benefit the top-up advance on their current vehicle advances.

Do I need to provide a guarantor to avail a Two Wheeler Loan from HDFC Bank?

In most cases, you do not need guarantor if you comply with the rules and regulations of the bank. 
If you are asked to obtain loan, you might not fulfil the entry requirements on your own and the loan amount will be paid back.

How to get HDFC Two Wheeler Loan Statement?

You can get the framework produced Loan Account proclamation, for the equivalent, basically sign in to “Access My Loan Account” with your username and secret word. You can send your solicitation * through dispatch, Post or Bearer to the closest/particular branch (* Please notice “Advance Account Statement” subtleties on the head of the wrap.)

How to Pay HDFC Bank Two Wheeler Loan Interest Online?

  • NEFT (Available 24 * 7)
  • UPI (Instant Mobile Money Transfer)
  • IMPS (Immediate Payment 24 * 7)
  • RTGS (Real Time large payment on all working days)
  • RemitNow (Foreign Outward Remittance)
  • Remittance (International Money Transfers )
  • Visa CardPay.

What if I can’t pay the interest on HDFC Two Wheeler Loan for 3 months?

Bank won’t request any EMI Payment for the time of ban benefited by you for example till Jun 30th 2020 on the off chance that you benefit it for one month or till Aug 31st 2020 in the event that you profit it for 3 months. Intrigue will keep on accruing on the central exceptional for the time of the ban at the contracted pace of the advance.

How can I apply for EMI Moratorium on HDFC Two Wheeler Loan?

Coming up next are the various ways you can choose the HDFC Bank individual advance ban: Call the bank at 022-50042333 or 022-50042211 from your enrolled portable number or website Dialabank HDFC  two-wheeler loan. Round out the advance ban structure on the official site of HDFC Bank to present your solicitation.

What is the number for HDFC Two Wheeler Loan agent?

  • HDFC Bank Customer Centre Number: 1800 258 3838
  • Toll-Free Number (only for India) (8:00 a.m. to 8:00 p.m on all days).

Can I close HDFC Two Wheeler Loan online?

Closing of any of your current credit is simple and one can do it visiting the physical branch or mentioning a pre-conclusion on the web.

What is HDFC Two Wheeler Loan Customer Care Number?

HDFC two-wheeler 24/7 customer care number is 61606161

How can I get NOC from HDFC Bank for Two Wheeler Loan?

In the wake of paying all the EMIs, approach your bank for a no protest endorsement (NOC). This archive will express that no levy is pending on the credit. The bank will send the NOC to you by post. HDFC Bank clients can likewise get the NOC on NetBanking.

News

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Retail loans such as a house, personal, LAP, two-wheeler, auto, school, and doctor loans, as well as deposits such as fixed and recurring deposits, helped PNB Housing Finance report a consolidated net profit of Rs 127 crore in Q4. Total income was Rs 1,834 crore in January-March, down from Rs 1,952 crore in the same stretch of the previous fiscal year. Interest income fell by over 7% to Rs 1,670 crore in the year, compared to Rs 1,803 crore a year ago.

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In the January-March quarter, Bajaj Finserv recorded a net profit of 979 crores, up from 194 crores in the same quarter last year. Retail loans such as home, personal, LAP, two-wheeler, automobile, college, and doctor loans, as well as business and mudra loans, boosted the NBFC’s profit.

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For the quarter ended March 31, 2021, ICICI Bank’s net profit increased by 260 per cent to Rs 4,403 crore. Retail loans such as home, LAP, personal, two-wheeler, vehicle, college, and doctor loans, as well as business and mudra loans, boosted profit.

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