ICICI Bank Two Wheeler Loan: Interest Rate, Eligibility, Processing & Customer Care

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ICICI BANK TWO WHEELER LOAN

ICICI Bank Two Wheeler Loan Details

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.

Benefits of ICICI Bank Two Wheeler Loan

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

Fee and Charges of ICICI Bank Two Wheeler Loan 

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

Eligibility Criteria for ICICI Bank Two Wheeler Loan

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

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

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

  • For 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 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

How to calculate EMI of 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.

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

ICICI Bank Super Bike Loan Frequently Asked Questions 

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

The loan amount is provided by SBI Bank is upto 100% of the on road price of the bike.

2. How much tenure is 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 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/2020

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