HDFC Two Wheeler Loan
Last Updated : March 14, 2022, 6:43 p.m.
HDFC Bank is one of the trusted financial institutions that have always satisfied its customers with the services. It gives various types of loans to its customers so that they can fulfil their dreams. There are some individuals who want to buy two-wheelers but due to scarcity of funds, they are unable to do so. Therefore you can apply for the HDFC Two Wheeler Loan that has a competitive rate of interest. It gives you a tenure of 48 months to repay the loan and finance your two-wheelers fully. So you must explore the various details of this loan and see how it will help you to buy your dream bike or scooter.
HDFC Bank Two Wheeler Loan Interest Rate and Other Details
| Particulars | Details |
|---|---|
| Interest Rate for Two Wheeler | 11.85% to 31.54% per annum |
| Interest Rate for Super Bikes | 9.28% to 16.16% per annum |
| Loan Tenure | 12 Months to 48 Months |
| Principal Amount | 100% Finance for Specific Models |
| Processing Fees | A maximum of 3% of the Loan Amount |
| Documentation Charges | A maximum of 3% of the Loan Amount |
HDFC Bank Bike Loan Fee and Charges
| Particulars | Fees |
|---|---|
| Pre-Payment Charges | - 10% of the Principal Amount if it is done within 4 Months to 6 Months. · 6% of the Principal Amount if it is done within 7 Months to 12 Months. · 5% of the Principal Amount if it is done within 13 Months to 24 Months. · 3% of the Principal Amount if it is done after 24 Months. |
| Overdue EMI Interest | 2.5% per month for the unpaid statement. |
| Cheque Bounce Charges | ₹500 |
| Duplicate NOC Charges | ₹500 per request |
| Loan Re-booking Charges | ₹1000 |
| ECS Swapping Charges | ₹500 |
| Amortization Schedule Charges | ₹200 |
Eligibility Criteria for Two Wheeler Loan from HDFC Bank
- The Applicant should be a salaried or self-employed individual.
- 21 years must be the age of the applicant to apply for the bike loan .
- 65 Years is the maximum age for the applicant to apply for this loan.
- The gross-income of the salaried individuals must be at least ₹84000 per year.
- The gross-income of the self-employed individuals must be at least ₹72000 per year.
- Individuals must reside at the given residence for a minimum of 1 year.
- Individuals who have been working for a minimum of 1 year.
- Must have a telephone/office landline connection.
Documents Required for the Loan
If you are applying for the HDFC Two Wheeler loan then you must go through the documents that have to be submitted at the time of applying for the loan.
Address Proof
- Passport
- Photo Credit Card (front & reverse)
- Voters ID Card
- Driving License
- PAN card
- Copy of Company ID card of MNC/Public Ltd./PSU/Govt. Company
- Ration Card (if the photo is provided)
Identity Proof
- Passport
- Voter’s ID Card
- Driving License
- Rental Agreement
- Telephone Bill
- Electricity Bill
- Gas Connection Bills
- Ration Card
- Property Purchase Agreement
- Credit Card Billing Statement (latest)
- LIC Policy
- Letter from Company or Company Provided Accommodation
Income Proof
- Salaried: Latest salary slip for Govt. employees
- For Self Employed: Copy of the latest Income Tax Return
Customer Care Number of HDFC Bank for Two Wheeler Loan
You can go through the customer care number of the bank in various cities. You can apply for the two-wheeler loan by contacting the customer care executive of the bank.
| Cities | Contact Number |
|---|---|
| Delhi and NCR | 011-61606161 |
| Mumbai | 022-61606161 |
| Ahmedabad | 079-61606161 |
| Chandigarh | 0172-6160616 |
| Chennai | 044-61606161 |
| Hyderabad | 040-61606161 |
| Jaipur | 0141-6160616 |
| Indore | 0731-6160616 |
| Pune | 020-61606161 |
| Lucknow | 0522-6160616 |
| Kolkata | 033-61606161 |
| Cochin | 0484-6160616 |
Payment of the Bike Loan
The bank gives you the facility to auto-debit the EMI on a particular date. You are free to decide the date on which the EMI will be deducted. Your amount of EMI will be calculated at the time of loan disbursal and it will be auto-debited on the date given by you.