ICICI Bank is a leading private sector bank in India. It offers a wide range of banking and financial services to corporate and retail customers. In the 1990s, ICICI transferred its business from development financial institutions offering only project finance to a diversified financial services group offering a wide variety of products and services.
ICICI Bank two wheeler loan finance is upto 100% of the road price of the bike. It uses a digital process that makes loan disbursal faster. Two wheeler loans are provided at ICICI bank with the lowest EMI offers. Get maximum tenure for 60 months and low processing fees.
1. Attractive Interest rate starts from 10% to 26% per annum’
2. Finance upto 100% of the on road price of the bike
3. Easy documentation
4. Digital sanction that makes loan disbursal faster
5. Special processing fee for ICICI Bank customers
6. Tenure period upto 5 years
7. Low processing fee
To apply for a two wheeler loan, you have to pay fees and charges applied by the ICICI Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from ICICI Bank i.e processing fee, late payments of EMIs, cheque dishonour charges, prepayment / foreclosure charges etc.
|
TYPE |
CHARGES |
|
Processing Fees |
2.5% of the loan amount or Max. Rs. 2500 |
|
Registration charges |
Rs. 499 |
|
Loan Cancellation Charges |
Rs. 3000 per loan |
|
Stamp Duty |
At Actuals |
|
Part payment option |
Not allowed |
|
Swap charges |
Rs. 500 |
|
Pre-payment charges |
5% on principal outstanding |
|
Late payment charges |
2% per month on the outstanding installment |
|
Bounce Charges |
Rs. 400 per transaction |
|
Documentation Charges |
2.25% of the loan amount |
Before applying for a loan for two wheeler from ICICI Bank, you should fulfil all basic eligibility criteria as prescribed by the bank. For the two wheeler loan application the Salaried individuals, self employed individuals are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
|
ELIGIBLE |
Salaried or self employed individuals |
|
AGE |
21 years to 65 years |
|
WORK EXPERIENCE |
For salaried = Minimum 1 year For self employed = Minimum 3 years |
|
MINIMUM ANNUAL INCOME |
Rs. 48000 for salaried applicant Rs. 42000 for the self-employed applicant |
|
RESIDENTIAL STATUS |
Min. 1 year in the same city or town |
Any applicant who is going to avail a loan for two wheeler from ICICI Bank must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.
Filled application form
Proforma Invoice
Passport size photograph
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
Address Proof
For salaried individuals = Utility bills, passport, etc.
For self employed individuals = Utility bills, passport, etc.
Income Proof
For salaried individuals = Salary slips, IT returns, bank statements
For self employed individuals = Bank statements, IT returns, audited financial statements
|
BANKS |
INTEREST RATE |
|
9.15% to 15.90% |
|
|
Start at 10.65% |
|
|
Start at 11.83% |
|
|
9.65% to 15% |
|
|
10% to 18% |
|
|
10% to 26% |
|
|
Start at 11.83% |
|
|
21% to 29% |
|
|
Start at 11.50% |
|
|
7.75% to 8.35% |
|
|
Start at 10.70% |
There are two ways to apply for ICICI Bank Super Bike Loan :
1. Offline Method : By visiting the nearest bank branch
2. Online Method
Firstly visit lenders website or branch from which you want to get loan
Fill the application form and read all the term and conditions
Attach all required documents with an application form
After submitting form lenders will let you know that you eligible or not for the loan
ICICI Bank Super Bike Loan Customer Care
Contact number : 18601207777
Email id : customer.care@icicibank.com
The mathematical formula is used to calculating EMI of ICICI Bank Super Bike 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
The loan amount is provided by SBI Bank is upto 100% of the on road price of the bike.
The repayment tenure is up to 5 years provided by the ICICI Bank Super Bike Loan.
Processing fee charged by ICICI Bank Super Bike Loan is 2.5% of the loan amount or Max. Rs. 2500.
The Interest rate provided by ICICI Bank Super Bike Loan starts at 10% to 26% per annum.
You can apply online or offline by visiting the nearest bank branch for ICICI Bank Super Bike Loan.
The mathematical formula is used to calculating EMI of ICICI Bank Super Bike 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
Last Updated on : 31/Aug/2020Know More About
You're eligible for a Icici 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
Updated on 25 Nov 2017
| Icici Bank Two Wheeler Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 10% - 26% |
| Processing Fees | 2.5% of the loan amount or Max. Rs. 2500 |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Two Wheeler Loans EMI Calculator