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IDBI BANK TWO WHEELER LOAN 

IDBI Bank Two Wheeler Loan Details 

The full form of IDBI Industrial Development Bank of India. It is one of the largest commercial banks and offers banking and financial services to their customers. IDBI was established in 1964 by act of parliament and its headquarters is in Mumbai. It is one of 27 commercial banks owned by the government of India.

The two wheeler loan helps you to purchase a motorcycle or a scooter of your choice and pay it in equated Monthly Installments EMIs. Two wheeler loan is available for both salaried and self employed individuals.

For different people, a two-wheeler serves different purposes. For some, it represents fulfilling a dream, while for others it represents a mode of transportation that can take them efficiently from one place to another. While most of us dream of owning that dream motorcycle or scooter, not everyone is capable of buying two wheelers with full payments, and other than a simple bike some of them are costly and hard to buy with cash. So to solve this issue IDBI Bank two wheelers loan is the best option. 

Benefits of IDBI Bank Two Wheeler Loan

1. Adaptable repayment tenure upto 4 years

2. Minimum loan amount is Rs.10000

3. Salaried and self employed individuals are eligible to take this loan

4. Enjoy doorstep services

5. Attractive interest rate starts at 11.83% per annum

6. Full transparency

Fee and Charges of IDBI Bank Two Wheeler Loan 

To apply for a two wheeler loan, you have to pay fees and charges applied by the IDBI Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from IDBI Bank i.e processing fee, prepayment / foreclosure charges etc.

1. Processing fee =  Upto 3% of the loan amount

2. Foreclosure charges = 3% to 10% based on the time of foreclosure and foreclosure not allowed during the first 3 months

3. Tenure period = 1 year to 4 years

Eligibility Criteria for IDBI Bank Two Wheeler Loan 

Before applying for a two wheeler loan from IDBI 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 individuals, self employed individuals  

AGE 

21 years to 65 years

INCOME

For salaried net monthly income = Rs.7000 p.m.

For self employed individuals = Rs.8000 p.m.

Documents Required for IDBI Bank Two Wheeler Loan 

Any applicant who is going to avail a loan for two wheeler from IDBI 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 IDBI Bank 

1. IDBI Bank Car loan 

2. IDBI Bank Education loan

3. IDBI Bank Credit Cards

4. IDBI Bank Loan Against Property

5. IDBI Bank Personal Loan

How to Apply for IDBI Bank Two Wheeler Loan 

There are two ways to apply for IDBI Bank Two Wheeler 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

IDBI Bank Two Wheeler Loan Customer Care

Contact  number : 18002094324

Email id : customercare@idbi.co.in

How to calculate EMI of IDBI Bank Two Wheeler Loan 

The mathematical formula is used to calculating EMI of IDBI 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

IDBI Bank Two Wheeler Loan Frequently Asked Questions 

1. How much age of the customer is required to take a two wheeler loan from IDBI Bank?

The minimum age of the customer is 21 years and maximum age of the customer is 65 years to take a two wheeler loan from IDBI Bank.

2. What is the minimum loan amount of IDBI Bank for two wheeler loan?

The minimum loan amount is Rs.10000 of IDBI for two wheeler loan.

3. How to apply for an IDBI Bank two wheeler loan?

You can apply offline by visiting the nearest bank branch or online for an IDBI Bank two wheeler loan.

4. Are there any foreclosure charges applied by IDBI Bank for two wheeler loans?

The foreclosure charges applied by IDBI Bank for two wheeler loans is 3% to 10% based on the time of foreclosure and foreclosure not allowed during the first 3 months.

5. Who is eligible to take a two wheeler loan from IDBI Bank? 

Salaried employees, self employed individuals are eligible to take a two wheeler loan from IDBI Bank.

6. What is the tenure period of IDBI Bank for two wheeler loan?

The tenure period of IDBI Bank for two wheeler loan is 1 year to 4 years.

7. How much interest rate is charged by IDBI Bank for two wheeler loan?

The interest rate of IDBI Bank for two wheeler loan is ranging from 11.83% per annum onwards.

Last Updated on : 31/Aug/2020

Know More About

Idbi Bank Two Wheeler Loan

You're eligible for a Idbi 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

Idbi Bank Two Wheeler Loan Interest Rates

Updated on 25 Nov 2017

Idbi Bank Two Wheeler Loan Details
Interest Rate (Monthly reducing balance) 11.83% - 0%
Processing Fees Upto 3% of the 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