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ICICI BANK TWO WHEELER LOAN

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 up to 100% for on 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.

Features & Benefits of ICICI Bank Two Wheeler Loan

Here are some benefits of ICICI bank two wheeler loan that you can count on:

  1. ICICI bank two wheeler loan comes with an attractive interest rate which starts at 10% per annum. 

  2. The bank provides up to 100% finance for the on road price of a bike.

  3. You go through a cool-headed documentation.

  4. ICICI bank provides loan sanction digitally which makes loan disbursement faster.

  5. It has minimum processing fees.

  6. ICICI bank customers are treated with special processing fees.

  7. The repayment tenure period is up to 5 years.

Fee and Charges of ICICI Bank Two Wheeler Loan 

ICICI bank applies certain fees and charges on the two wheeler loan which you have to pay to avail loan. These fees and charges include processing fee, cheque dishonour charges, prepayment / foreclosure charges, late payments of EMIs etc.

Here are the fees and charges applied to the ICICI bike loan.

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

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

Documents Required for ICICI Bank Two Wheeler Loan

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.

  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

  • Salaried individuals: Salary slips, IT returns, bank statements

  • Self employed individuals: Bank statements, IT returns, audited financial statements

Compare other banks Two wheeler Loan Interest Rates

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 of ICICI Bank 

1. ICICI Bank Personal Loan

2. ICICI Bank Car Loan

3. ICICI Bank Credit Card

4. ICICI Bank Home Loan

How to Apply for ICICI Bank Super Bike Loan

There are two ways which you can consider to apply for the ICICI bank super bike loan:

  1. Offline method: You can visit the nearest bank branch to apply for a two wheeler loan from ICICI bank. 

  2. Online method: In this method, you can visit the bank website and apply for a two wheeler loan from ICICI bank. 

Here is what you need to do:

  • Navigate to the website.

  • Now fill the application form.

  • Submit all the required documents along with the application form.

Now that you have submitted the application form for a two wheeler loan, wait until the bank informs you whether your application has been approved or rejected.

How to Calculate EMI of ICICI Bank Super Bike Loan

The following mathematical formula is used to calculate EMI for YES bank two wheeler loan:

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

Here,

  • P is the loan amount or principal, 
  • R stands for the interest rate per month 
  • N stands for 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

FAQ's on ICICI Bank Super Bike Loan

1. What is the maximum loan amount provided by ICICI Bank Super Bike Loan?

The maximum loan amount provided by ICICI bank is Rs. 3,00,000.

2. What is the repayment tenure provided by the ICICI Bank Super Bike Loan?

The repayment tenure is up to 5 years provided by the ICICI Bank Super Bike Loan.

3. Is there any processing fee charged by 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.

4. How much interest rate is provided by the ICICI Bank Super Bike Loan?

The Interest rate provided by ICICI Bank Super Bike Loan starts at 10% to 26% per annum.

5. How to apply for ICICI Bank Super Bike Loan?

You can apply online or offline by visiting the nearest bank branch for ICICI Bank Super Bike Loan.

6. Which formula is used to calculate EMI of superbike loans from ICICI Bank?

The following mathematical formula is used to calculate EMI for YES bank two wheeler loan:

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

Here,

P is the loan amount or principal, 

R stands for the interest rate per month 

N stands for the number of monthly installments

Last Updated on : 11/Feb/2021

Know More About

Icici Bank Two Wheeler Loan

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

Icici Bank Two Wheeler Loan Interest Rates

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

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