HDFC Two Wheeler Loan

HDFC is one of the biggest private banking chains that offers two wheeler loans to thousands of applicants across the nation. The HDFC Two Wheeler Loan interest rate is minimal and starts at 20.90% per annum. The best aspect about this loan is that you can avail of a loan amount up to 100% of the vehicle's on-road price. The HDFC Bank Two Wheeler Loan repayment can be made over  48 months or 4 years.

Let us dig deeper to look at what HDFC 2 Wheeler Loan has to offer, including its benefits and key features that you can avail of.

HDFC Two Wheeler Loan Interest Rate

The rate of interest is an important factor to keep an eye on while taking any kind of loan. You've no reason to worry as the HDFC Bike Loan interest rate is only 20.90% per annum, making it quite an affordable choice. The HDFC Bike Loan interest rate details are mentioned down below:

Key Features and Benefits of HDFC Two Wheeler Loan

HDFC Bike Loan comes with several benefits and key features which make it more exciting and sought-after than any other in the market. The advantages of availing of the HDFC 2 Wheeler Loan are as follows:

• The HDFC 2 Wheeler Loan repayment comes with flexible tenures that range from a minimum of 12 months (1 year) to a maximum of 48 months (4 years). It gives you the freedom to choose the tenure according to your suitability.

• EMIs of the HDFC Bike Loan can be easily paid through ECS post-dated cheques or online applications.

• HDFC Bank 2 Wheeler Loan interest rate starts from just 20.90% per annum.

• HDFC Bank Bike Loan can be availed from over 3,000 branches that are spread across the nation.

• These loans come with quick sanctioning and hassle-free processing.

• You are provided with doorstep service and an easy process of documentation.

• Every loan charge is communicated in written drafts along with the quotation of the loan.

HDFC Two Wheeler Loan EMI Calculator

To better understand the EMI (Easy Monthly Installments) for the HDFC Two Wheeler Loan, the HDFC Bank provides an HDFC Bike Loan EMI Calculator on the official website, which anyone can use to calculate the EMI amount easily.

To make use of the HDFC Two Wheeler Loan EMI calculator, you need to just fill up details like the total amount, loan repayment tenure, and the annual interest rate. And after filling them up, click on the 'Calculate', and the EMI calculator will calculate the EMI amount in no time. Remember, the calculation would be made completely based on the details provided by you. So, fill up the details carefully to get accurate results.

HDFC Two Wheeler Loan Eligibility Criteria

You are required to fulfill certain conditions to apply for the loan. The HDFC Bank Two Wheeler Loan eligibility check needs to be made before applying for the loan. Remember that the first step in having your loan sanctioned is fulfilling every HDFC Two Wheeler Loan eligibility criteria. The HDFC Bike Loan eligibility criteria are as follows:

• You must be a salaried employee or a self-employed individual.

• You must be between the age group of 21 to 65 years.

• Another important HDFC Bike Loan eligibility criteria include your income. Your monthly income should be a minimum of Rs. 10,000.

• Private companies, partnership firms, limited companies, etc., can also apply for two wheeler loans from the HDFC Bank.

HDFC Two Wheeler Loan Apply Online

You can avail of the HDFC bike finance online by simply following the steps mentioned below:

• Visit the bank's official website www.hdfcbank.com.

• Select the type of loan or product you're interested in (in this case, the two wheeler loan) and apply online.

• You will be asked for your contact number along with some verification details.

• After filling up all the necessary details, click on 'Proceed'.

• If you are already an HDFC Bank customer, you can apply by simply filling up your customer ID or NetBanking ID.

• If you are not an HDFC Bank customer, you need to register yourself to obtain the customer ID or NetBanking ID with your registered contact number and a captcha.

• In both cases, the bank will provide you with an authentication code on your provided registered contact number.

• Then log in, and you will be all set to apply online.

Documentation Required for HDFC Two Wheeler Loan

HDFC Bank requires nominal documentation to sanction your loan application. Borrowers are categorized under salaried employees and self-employed individuals. Documents required to apply for the loan are as follows:

• Salaried Employees

1. Address Proof - Any proof of address such as Voters ID, passport, Aadhaar card, Driving License, ration card, electricity bill, recent credit card bill, etc.

2. Identification Proof - Any proof of identification such as Voters ID, Pan Card, Driving Licence, Company ID Card, etc.

3. Income Proof - 3 months’ salary slip, bank statement for the last 3 months, or Form 16.

4. Latest Photographs

5. Signature Verification - Signed loan application of the applicant.

• Self-employed Individuals

1. Address Proof - Any proof of address such as Voters ID, passport, Aadhar card, Driving License, ration card, electricity bill, recent credit card bill, etc.

2. Identification Proof- Any proof of identification such as Voters ID, Pan Card, Driving Licence, Company ID Card, etc.

3. Income Proof- 3 months of bank statements and income tax returns of the last 2 years.

4. Latest Photographs

5. Signature Verification - Signed Loan Application of the Applicant.

6. Business Proof - VAT or service tax registration, address proof of business, incorporation details (in the case of companies).

HDFC Two-Wheeler Loan Processing Fees and Charges

Here’s a list of additional fees and charges associated with an HDFC two-wheeler loan.

Benefits of Availing a HDFC Two-Wheeler Loan

• Paperless Application Process - Thanks to HDFC’s digital and paperless application process, you won’t have to visit a brick-and-mortar branch to apply for your HDFC 2-wheeler loan. Thus, you can apply for a bike loan from the comfort of your home without having to venture out and wait in long queues at the bank. 

• Easy Approvals and Quick Disbursals - HDFC Bank two-wheeler loans are approved and processed instantly. This means that you won’t have to wait for weeks to hear back from the bank and can purchase your dream two-wheeler without any further delay. 

• Attractive Interest Rates - HDFC Bank ensures that purchasing your dream two-wheeler doesn’t drain your pockets. Thus, the bank offers regular two-wheeler loans from a starting interest rate of just 14.20% p.a. and Super Bike loans from 12% p.a. 

• Manageable EMI Payments - Since an HDFC bike loan allows you to comfortably repay the loan amount in manageable instalments over 12-48 months, your bike EMIs don’t interfere with your other financial obligations. Additionally, paying the bite-sized instalments for your HDFC two-wheeler loan on time also helps build your credit profile and makes you a more credit-worthy borrower. This helps improve your chances of getting instant approvals for loans in the future. 

• Benefits for Existing Customers - If you are an existing HDFC Bank customer, you qualify for a 2% reduction on the base HDFC two-wheeler loan interest rates and a 50% reduction on the base processing charges. Additionally, if, as an existing customer, you qualify for a pre-approved bank loan, the loan amount can be credited to your account in just 10 seconds.  

• Up to 100% Financing Options - Existing customers can also enjoy up to 100% financing for their new bikes (select models). This means zero down payment burdens and reduced financial woes. 

HDFC Bank Contact Details 

Since opting for a two-wheeler loan is a big decision, it is important to get as much clarity on a loan scheme as possible. While we’ve tried to cover all the important bases, if you still need more details on HDFC two-wheeler loans, you can contact the bank’s all-India customer care units on the following toll-free numbers.

• 1800-202-6161

• 1860-267-6161

   

You can also write to HDFC Bank at loansupport@hdfcbank.com or visit the nearest HDFC Bank branch.