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HDFC Bank Two Wheeler Loan

HDFC Bank is an Indian banking and financial services company. Established in 1994 and headquartered in Mumbai, it is one of the leading private banks in India that offers a wide range of financial products and banking services to customers. HDFC Bank Two Wheeler Loan is used to fund the purchase of two wheeler models i.e. Scooters, Motor Cycles, Mopeds, Battery-Operated Scooters etc. This loan can be enjoyed by salaried individuals and self employed individuals. You can either apply for this loan online or by visiting the nearby HDFC Bank branch. Alternatively, you can download the two wheeler loan application form its official website, fill the form and share it with the bank representative.

Benefits of HDFC Bank Two Wheeler Loan

If you are planning to apply for HDFC two wheeler loan, then here are the benefits you can count on:

  1. Flexible repayment tenure from 1 years to 4 years
  2. Get upto 100% finance of the price of the vehicle
  3. Attractive interest rates every year with minimum being 11.83% per annum
  4. Hassle documentation process
  5. Seamless procedure and quick loan approval
  6. Salaried and self-employed individuals are eligible to apply for this loan
  7. Loans can be availed from more than 3000 branches across India
  8. Privilege of doorstep services

Fees & Charges of HDFC Bank Two Wheeler Loan

The process of HDFC Bike or Two Wheeler loan comes with certain fees and charges that need to be paid by the applicant. These fees and charges include processing fee, late payment charges and cheque dishonour charges.

You can refer to the following table to know more about such fees and charges.

TYPE 

CHARGES

Loan Processing Charges

3% of Loan Amount

Documentation Charges

3% of Loan Amount

Pre-payment charges

3% to 10% of the outstanding principal

No Due Certificate / No Objection Certificate (NOC)

NIL

Overdue EMI Interest

2.5% Per Month on the Unpaid Installment

Stamp Duty

At actuals as levied by respective State Govt

Cheque Bounce / EMI return charges

Rs 500/

Loan cancellation charges

NIL

Legal, Repossession & Incidental charges 

At actuals

Duplicate NOC

Rs. 500/- per request

CIBIL Charges (only on request)

Rs. 50

PDD Collection Charges

Up to Rs.450/

Cheque/ECS swapping Charge

Rs 500/-

Amortization Schedule Charges

Rs 200/-

Special NOC Charges

Rs 500/-

Loan Rebooking/Reschedulement Charges

Rs 1000/-

Essential Eligibility Criteria for availing HDFC Bank Two Wheeler loan

You need to pass certain requirements in order to be eligible for HDFC two wheeler loan. Being able to fill in all the required information about yourself and matching the criteria designed by the bank will get you to successfully receive the loan. Here is what you need to know about HDFC Bank two wheeler loan eligibility criteria.

ELIGIBLE 

Salaried and self employed individuals

AGE 

21 years to 65 years

INCOME 

For salaried individuals = Minimum gross income is Rs.84000 per year

For self employed individuals = Minimum gross income is Rs.72000 per annum

RESIDENCE STABILITY

Minimum 1 year

WORK EXPERIENCE

Minimum 1 year

CIBIL SCORE

Preferred 750

Documents Required for HDFC Bank Two Wheeler Loan

Any applicant who is going to avail a loan for two wheeler from HDFC Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

  1. Filled application form

  2. Proforma Invoice

  3. Passport size photograph

  4. Identity Proof 

  • For salaried individuals = PAN card, voter’s ID, passport, Driving license

  • For self employed individuals = PAN card, voter’s ID, passport, driving license

  1. Address Proof

  • For salaried individuals = Utility bills, passport, etc.

  • For self employed individuals = Utility bills, passport, etc.

  1. Income Proof

  • For salaried individuals = Salary slips, IT returns, bank statements

  • For self employed individuals = Bank statements, IT returns, audited financial statements

 

Required Documents

Any applicant who is going to avail a loan for two wheeler from HDFC Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.

  1. Filled application form

  2. Proforma Invoice

  3. Passport size photograph

  4. Identity Proof 

  • For salaried individuals: PAN card, voter ID, passport, driving license

  • For self employed individuals: PAN card, voter ID, passport, driving license

  1. Address Proof

  • For salaried individuals: Utility bills, passport, etc.

  • For self employed individuals:  Utility bills, passport, etc.

  1. Income Proof

  • For salaried individuals: Salary slips, IT returns, bank statements

  • For self employed individuals:  Bank statements, IT returns, audited financial statements

Compare HDFC two wheeler loan Interest Rate with Other Financial Lenders

BANKS 

INTEREST RATE 

AXIS Bank Super Bike Loan

9.15% to 15.90%

SBI Super Bike Loan

Start at 10.65%

HDFC Bank Two Wheeler Loan

Start at 11.83%

HDFC Bank Super Bike Loan

9.65% to 15%

YES Bank Bike Loan 

10% to 18%

ICICI Bank Two Wheeler Loan

10% to 26%

IDBI Bank Two Wheeler Loan

Start at 11.83%

Indusind Bank Two Wheeler Loan

21% to 29%

Bank of Baroda Two Wheeler Loan

Start at 11.50%

Bank of India Two Wheeler Loan

7.75% to 8.35%

Punjab National Bank Two Wheeler Loan

Start at 10.70%

Other Products Offered by HDFC Bank 

1. HDFC Bank Car Loan

2. HDFC Bank Business Loan

3. HDFC Bank Credit Card

4. HDFC Bank Used Car Loan

How to Apply for HDFC Bank Bike Loan

Wondering how to apply for HDFC Bank two wheeler loan? Let us tell you that it won’t demand a great deal of endeavors from you. Applying for a loan has become easier than it ever has been and thankfully, there is more than just a single way to apply for it.

There are two ways to apply for HDFC Bank Two Wheeler Loan:

  1. Offline Method: You can visit the nearest bank branch in order to apply for a loan.

  2. Online Method: You can visit the official website of the lender and perform the required formalities online.

HDFC Bank Two Wheeler Loan Customer Care

Contact number : 01416160616

Email id : customerservices.loans@hdfcbank.com

How to calculate EMI of HDFC Bank Two Wheeler Loan

The mathematical formula is used to calculating EMI of HDFC Bank Two Wheeler Loan

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Where,

P stands for the loan amount or principal, 

R is the interest rate per month and 

N is the number of monthly installments.

Financials products offered by Bank 

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

Frequently Asked Questions 

1. What is the age criteria for HDFC two wheeler loan applicants?

The minimum age must be 21 years and maximum of 65 years old at the time of loan maturity.

2. Are there any processing fees for HDFC Bank two-wheeler loans?

Yes, a maximum of 3% of the loan amount will be charged for processing HDFC Bank two-wheeler loan.

3. Do self-employed individuals need to provide guarantees to get a bike loan from HDFC Bank?

Yes, self-employed individuals need to provide a single guarantor with good credit score standing.

4. Can I prepay the loan?

Yes, you can prepay the loan after completing three months of repayment.

5. What is the interest rate of HDFC Bank two wheeler loan?

The interest rate of HDFC Bank two wheeler loan starts at 11.83% per annum.

Last Updated on : 09/Feb/2021

Know More About

Hdfc Bank Two Wheeler Loan

You're eligible for a Hdfc Bank Two Wheeler Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Two Wheeler Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Hdfc Bank Two Wheeler Loan Interest Rates

Updated on 25 Nov 2017

Hdfc Bank Two Wheeler Loan Details
Interest Rate (Monthly reducing balance) 11.83% - 0%
Processing Fees 3% of loan amount
Loan Tenure 1 year to 4 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Two Wheeler Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959