Indian Bank Two Wheeler Loan Key Features
| Indian Bank 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 Indian Bank Two Wheeler Loan
Indian Bank 2 Wheeler Loan has become essential for a private to fulfill his dream of shopping for a replacement bike at any price with any money resource. Indian Bank is providing the chance of a lifespan by providing 2 Wheeler Loans with Lowest Interest Rates & cheap EMIs.
Factors Affecting Two-wheeler Loan Application
Indian Bank two-wheeler loans the following factors, which you have to think about before getting the loan
Your credit rating. When you approach a lender in India for a loan, your credit score is one of the first and most significant factors they consider.
- Loan Amount
- Loan Duration
- Dealership Location
- Secured vs Unsecured Loan.
How to avail a Two Wheeler Loan?
If you’re weary of waiting for the bus or haggling with taxi drivers, now is the time to get your own motorcycle. The ability to drive fast and safely is one of the main advantages of riding a two-wheeler. Since a two-wheeler uses less fuel and is simpler to maintain than a sedan, it is a popular option for first-time car buyers. Rather than taking on the whole financial responsibility of a two-wheeler purchase, it is preferable to take out a two-wheeler loan and repay it in manageable EMIs.
Compare Bike Loan Interest Rates of the bank with other banks
The following criteria can be used to compare two-wheeler loans from various lenders:
Payment fees – Most banks charge processing fees ranging from 0 to 1,000 dollars. You will compare 2 wheeler loan prices, deals, and cashback when applying online to get the best deal.
Insurance premium – While bike loans are guaranteed loans, it is recommended that you purchase an insurance policy before taking out a loan. The premium, however, varies from bank to bank and is determined by the risk compensation provided by different policies. As a result, closely examine the loan sanction letter to determine the coverage and premium.
Part prepayment and foreclosure – Part prepayment is whether you intend to pay off a portion of your debt early. Foreclosure occurs as you plan to pay off your debt in full before the due date. Under such cases, banks usually charge prepayment or foreclosure fees, which may vary from zero to three per cent. So be sure the low-interest two-wheeler loan you’re having doesn’t come with high prepayment or foreclosure penalties. It’s worth noting that some bike loans aren’t repaid on time. Banks sell two-wheeler loans at either 80% of the on-road price or 100% of the ex-showroom price as a down payment. On the other hand, the on-road price is almost identical to the ex-showroom price at 80%.
Advantages of Indian Bank Two Wheeler Loan
- Simple and hassle-free process.
- Quick Disbursal of Credit Amount.
- Fulfill your needs by choosing the Two Wheeler you love
- Good Rate of Interests
- Easy Reimbursement and Prepayment Strategy.
Indian Bank Two Wheeler Loan Eligibility
Your capacity to reimburse the advance is the greatest calculate in choosing whether you’ll be qualified or not for the Indian Bank two-wheeler credit. The taking after is the major criteria’s:
- The candidate ought to be of at slightest 21 a long time of age and a greatest of 65 a long time of age to apply for the loan.
- On the off chance that you’ve got a normal month-to-month wage of Rs 7000 (salaried) and Rs 6000 (self-employed), you’re qualified for the Indian bank two Wheeler credit.
- Cibil Score includes a coordinated impact on your qualification for the advance. If you have got a tall Cibil score, you’ll be able to get the endorsement for the credit easily.
Indian 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 |
Indian 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 Person
| 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 |
Indian Bank Two Wheeler Loan EMI Calculator
The candidate has the alternative to know the EMI’s some time recently profiting Indian Two Wheeler Credit. Hence, you’ll be able to effectively to check through the interface underneath:
Two Wheeler Loan EMI Calculator
Indian Bank Two Wheeler Loan Types
Indian Bank offers numerous sorts of advances to its clients and you’ve got the choice of choosing one of them as per your necessities. You’ve got the taking after two alternatives:
- Two Wheeler Credit – On the off chance that you want to purchase a two-wheeler and wish to finance it then Indian Bank has the most excellent offer for you. You’ll be able to profit this advance at an attractive two wheeler interest rate of 12%.
- Super Bike Two Wheeler Loan – In case you’re arranging to purchase a Superbike and are trying to find stores, at that point usually the leading bargain accessible for you at an appealing intrigued rate of 11.83%.
Indian 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 Indian Bank Two Wheeler Loan
You’ll be able to apply for Indian Bank Two Wheeler Loan online by going by Dialabank’s digital stage and after that :
- Fill the essential Application Shape for Two Wheeler Loan.
- Please hold up for a call from our Relationship Manager.
- Get personalized help and select the foremost appropriate offer based on your needs.
- Enjoy your Two Wheeler.
Indian Bank Two Wheeler Loan for Top Selling Bikes
Other Available Products from Indian Bank
| Indian Bank Personal Loan | Indian Bank Gold Loan | Indian Bank Home Loan |
| Indian Bank Credit Card | Indian Bank Car Loan | Indian Bank Education Loan |
FAQs for Indian Bank Two Wheeler Loan
✅ What is Indian Bank Two Wheeler Loan?
Bike Loan EMI of the Indian Bank is a fixed sum that you pay every month towards the reimbursement of your bicycle advance till the finish of residency. The most minimal EMI offered by Indian Bank is ₹ 211 for every ten thousand advance sum at least a bike advance loan cost of 9.65%.
✅ How can I get Two Wheeler Loan from Indian Bank?
Indian Bank gives the office of bicycle advance to the individuals who need to satisfy their fantasy about having their own 2 wheeler. There are a few highlights and advantages of taking car advance from Indian Bank:
- Speedy handling with a simple endorsement
- Serious estimating
- Adaptable reimbursement alternatives
✅ How does Indian Bank Two Wheeler Loan work?
Bike Loan EMI of the Indian Bank is a fixed sum that you pay every month towards the reimbursement of your bicycle credit till the finish of residency.
✅ What is the Two Wheeler Loan Interest Rate in Indian Bank?
The Two Wheeler Loan Interest Rate in Indian Bank is 9.65%.
✅ How to check Two Wheeler Loan status in Indian Bank?
An individual can check the credit status by contacting the numbers 1800 425 00 000/1800 425 4422 for any money-related questions including Personal Loan. You can likewise straightforwardly go to the branch you apply at to meet the official in control to know the status of your own advance application.
✅ How to calculate Two Wheeler Loan Interest in Indian Bank?
EMI Calculator Indian Bank computes EMI utilizing underneath equation:
EMI Calculator Formula
Where P characterizes the chief credit sum,
r is the pace of intrigue every month [r= Rate of Annual Interest/(12*100)]
furthermore, n is the residency of credit in months
Assume, Indian Bank gives you vehicle credit of Rs. 10,0000 at 9.65% for 60 months.
For this, r = 9.65/12*100 = 0.00804
At that point the month to month bicycle credit EMI of Indian Bank is 10,0000 *0.00804* (1+0.00804 )^60/([(1+0.00804)^ ]-1)
EMI = Rs. 211.
✅ What is the maximum loan amount I can avail on Two Wheeler Loan from Indian Bank?
The maximum loan amount you can avail for Two Wheeler Loan is 10 lakhs.
✅ What is the loan tenure of Indian Bank Two Wheeler Loan?
The loan tenure of the Indian Bank Two Wheeler loan is 5 years.
✅ Can I get 100% Two Wheeler Loan from Indian Bank?
Yes, you can get 100% Two Wheeler Loan from Indian Bank.
✅ How much Processing Fee is applicable to Indian Bank Two Wheeler Loan?
3% Processing fee is applicable to Indian Bank Two Wheeler Loan.
✅ What are the EMI options available on Indian Bank Two Wheeler Loan?
✅ What are the charges for Prepayment in Indian Bank Two Wheeler Loan?
NIL, there is no prepayment charges.
✅ Can I get a top-up loan on my existing Indian Bank Two Wheeler Loan?
No, you cannot top-up loan on the existing Indian Bank Two Wheeler Loan.
✅ Do I need to provide a guarantor to avail of a Two Wheeler Loan from Indian Bank?
✅ How to get Indian Bank Two Wheeler Loan Statement?
Apply Online. You can purchase a bicycle on EMI in only a couple of moments.
Visit a bike business. You can likewise apply for a bicycle advance by visiting a bike business close to you.
Submit Documents. Our agent is accessible at the business to direct you in your advance application.
Brave on your bicycle or bike.
✅ How to Pay Indian Bank Two Wheeler Loan Interest Online?
You pay Indian Two Wheeler Loan Interest online by logging on to their website.
✅ What if I can’t pay the interest on Indian Bank Two Wheeler Loan for 3 months?
In the event that you don’t reimburse your credit sum on schedule, the banks will be at risk to auction your bicycle to recuperate the lost obligation. Your CIBIL score will be affected adversely making it hard for you to profit of credits later on.
✅ How can I apply for EMI Moratorium on Indian Bank Two Wheeler Loan?
Look at which banks and NBFCs are asking their borrowers whether they need to profit the credit reimbursement ban, which are picking the default ‘select in’ alternative and which will offer the ban just if the borrower request it all alone. Send emails to request a ban if there should be an occurrence of credit EMI.
✅ What is the number for Indian Bank Two Wheeler Loan agent?
These are the numbers for Indian Bank Two Wheeler Loan Agent 1800 4250 0000 or 1800 425 4422
✅ Can I close Indian Bank Two Wheeler Loan online?
No, you cannot close a two-wheeler loan online.
✅ What is Indian Bank Two Wheeler Loan Customer Care Number?
1800 4250 0000 or 1800 425 4422
✅ How can I get NOC from Indian Bank for Two Wheeler Loan?
Workers of different save money with NOC from the business concerned. *For NRIs (people just), credit for the acquisition of 4 wheeler (to be utilized by his/her family in India) might be allowed depending upon the accompanying conditions: Minimum month to month pay ought to be identical to INR: 40000/ –
News
In the fourth quarter, PNB Housing Finance made a net profit of Rs 127 crore.
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 record a consolidated net profit of Rs 127 crore in Q4. Total revenue was Rs 1,834 crore in January-March, down from Rs 1,952 crore in the same stretch of the previous fiscal year. Thanks to the country’s volatile economic situation, interest income fell by more than 7% to Rs 1,670 crore in the third quarter, compared to Rs 1,803 crore a year ago.
Two-wheeler dealers in Bangalore are advising hesitant buyers to lease a motorcycle.
Automotive retailers, according to sources, are advising clients who are hesitant to take out bank loans to consider leasing cars. OTO Capital, a car leasing company, recently announced a significant expansion in its relationship with Bangalore’s automobile dealers. Customers’ appetite has improved after the constraints of COVID-related lockout have been relaxed. Many buyers, on the other hand, choose to lease cars rather than take out two-wheeler or car loans from banks. This is partly attributed to the country’s unstable economic situation.
