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INDUSIND BANK TWO WHEELER LOAN

Indusind Bank Two Wheeler Loan Details 

Indian Bank Limited is an Indian new generation bank in Pune, established in 1994. The Bank offers commercial, transactional and electronic banking products and services. Indusind Bank inaugurates its first solar powered ATM in Mumbai.

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. With Indusind bank two wheeler loan, the customer can purchase motorcycles of any brand and make. Indusind Bank provides funds for purchasing of fresh 2 wheelers i.e. Scooters, Motor Cycles, Mopeds, Battery-Operated Scooters etc. of any make and model. You can either apply online or visit a nearby Indian Bank branch for the application. You can also download the 2-wheeler loan application form from the Indian Bank official website, complete the form and submit it to the bank representative.

Benefits of Indusind Bank Two Wheeler Loan

1. Hassle free documentation

2. Easy loan processing

3. Customer can be guaranteed of complete transparency

4. No hidden costs

5. Fast track loan processing is also available

6. Flexibility of tenure upto 5 years

7. Paper free easy online application

8. Special offers to existing customer of Indusind Bank

9. Low interest rate start from 21% to 29% per annum

Fee and Charges of Indusind Bank Two Wheeler Loan

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

1. Processing fee =  Upto 5% of the loan amount with applicable tax

2. Foreclosure charges = NIL

3. Tenure period = 1 year to 5 years

4. Loan amount = On the average finance institution pay upto 90% of the loan

Eligibility Criteria for Indusind Bank Two Wheeler Loan

Before applying for a loan for two wheeler from Indusind 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 

For salaried individuals = 21 years to 60 years

For self employed individuals = 21 years to 65 years 

INCOME

For salaried net monthly income = Rs.10000 p.m.

For self employed individuals minimum annual profit = Rs.1 lakh

EXPERIENCE 

For salaried individuals = 1 year

For self employed individuals = 3 years of experience and 1 year in current business

CREDIT SCORE 

Preferred 750

Documents Required for Indusind Bank Two Wheeler Loan

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

1. Indusind Bank Car Loan

2. Indusind Bank Personal loan 

3. Indusind Bank Credit Card

4. Indusind Bank Home Loan

How to Apply for Indusind Bank Two Wheeler Loan

There are two ways to apply for Indusind 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

Indusind Bank Two Wheeler Loan Customer Care 

Contact number : 18605005004

Email id : premium.care@indusind.com

How to calculate EMI of Indusind Bank Two Wheeler Loan

The mathematical formula is used to calculating EMI of Indusind 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

Indusind Bank Two Wheeler Loan Frequently Asked Questions 

1. What is the loan amount of Indusind Bank Two Wheeler Loan?

The loan amount of HDFC Bank Two Wheeler Loan is On the average finance institution pay upto 90% of the loan

2. How much minimum and maximum age of the customer is required to take a two wheeler loan from Indusind Bank?

For salaried individuals the age of the customer is 21 years to 60 years and for self employed individuals the age of the customer is 21 years to  60 years is required to take a two wheeler loan from Indusind bank..

3. Is, there any pre-closure and part payment charges applied to take a two wheeler loan from Indusind Bank?

There is no pre-closure and part payment charges are applied to take a two wheeler loan from Indusind Bank.

4. What is the maximum tenure period provided by Indusind Bank to take a two wheeler loan?

The maximum tenure period provided by Indusind Bank is 5 years to take a two wheeler loan.

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

The salaried person, self employed individuals are eligible to take a two wheeler loan from Indusind Bank.

6. How much interest rate is provided by Indusind Bank to take a two wheeler loan?

The interest rate provided by Indusind Bank to take a two wheeler  loan starts from 21% to 26% per annum.

 

Last Updated on : 01/Sep/2020

Know More About

Indusind Bank Two Wheeler Loan

You're eligible for a Indusind 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

Indusind Bank Two Wheeler Loan Interest Rates

Updated on 25 Nov 2017

Indusind Bank Two Wheeler Loan Details
Interest Rate (Monthly reducing balance) 21% - 29%
Processing Fees Upto 5% of the loan amount with applicable tax
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