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HDFC Two Wheeler Loan

Highlights

  • Check all the details of HDFC Bank Two Wheeler Loan including the Interest Rate.
  • Check the Eligibility Criteria and Documents required to apply for the bike loan.

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

ParticularsDetails
Interest Rate for Two Wheeler11.85% to 31.54% per annum
Interest Rate for Super Bikes9.28% to 16.16% per annum
Loan Tenure12 Months to 48 Months
Principal Amount100% Finance for Specific Models
Processing FeesA maximum of 3% of the Loan Amount
Documentation ChargesA maximum of 3% of the Loan Amount

HDFC Bank Bike Loan Fee and Charges

ParticularsFees
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 Interest2.5% 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
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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.

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.

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