Indian Bank Two-Wheeler Loan

A bike brings you freedom on the road — and Indian Bank’s two-wheeler loan helps you own it without worry. You can avail up to ₹10 Lakhs for a new bike, with a repayment period stretching up to 48 months (4 years). The margin, i.e., your down payment, is around 25% to 30% and you also enjoy the freedom of paying zero prepayment charges. Whether this is your first ride or an upgrade, this loan gives you flexible support so you can hit the road sooner and smarter.

The Indian Bank EMI calculator helps you estimate your monthly instalment for a two-wheeler loan so you know your payments in advance. 

How to use it step by step:

1. Enter the loan amount (principal) you want to borrow. 
2. Input the annual interest rate applicable to your profile. 
3. Choose the repayment tenure (in months or years). 
4. The calculator computes your monthly EMI, total amount payable, and total interest cost. 
5. You can adjust any of the inputs — loan amount, interest, or tenure — to see how the EMI or total cost changes. 

Indian Bank’s Bike Loan EMI Calculator uses the standard reducing-balance formula: 

EMI = EMI = P × R × [(1 + R)^N / ((1 + R)^N - 1)]

Where:

• P = principal (loan amount)
• R = monthly interest rate = (annual rate ÷ 12)
• N = total number of monthly instalments

Over the repayment period, though the EMI remains fixed, the interest portion gradually falls and the principal portion rises because the outstanding principal reduces. 

Example

Suppose you borrow ₹1,20,000 for 36 months at 9.15 % p.a.

• Monthly interest rate, R = 9.15%/12 = 0.007625 
• N=36 

So, using the formula, your EMI would be approximately ₹3,893 per month. 

• Total amount paid = ₹3,893 × 36 = ₹1,40,148
• Total interest cost = ₹1,40,148 − ₹1,20,000 = ₹20,148

Meeting Indian Bank’s eligibility standards and keeping your documents handy ensures faster approval and smoother processing. These are the eligible customers who can get a bike loan from Indian Bank: 

• Salaried Individuals
• Businessmen
• Self-employed Professionals / Non – Professionals
• Pensioners
• NRIs

Eligibility Criteria

Here are the key requirements of Two Wheeler Loan Eligibility for different applicant categories: 

• Age: Must be between 21 and 60 years at loan maturity.
• Employment Stability (salaried): Should be employed with the current organisation for at least one year. 
• Income Requirement
  • Salaried: Must have a minimum salary of ₹10,000 per month. 
  • Self-employed: Net annual income should be ₹1.50 Lakhs and above as per latest ITR.

• Business Stability (self-employed): Must have been in business for at least one year.
• Income Proof: Should show regular income flow through bank statements or financial documents. 

Documents Required

Before applying for a two-wheeler loan, make sure you have all the necessary documents ready. Having these papers in order will make your loan approval process faster and smoother.

• Start with a completed loan application form and a recent passport-size photograph.
• Submit a valid identity proof, such as your PAN Card, Passport, Voter ID, or Driving Licence.
• Provide residential proof, which can include a recent electricity bill, telephone bill, property tax receipt, passport, or voter ID card.
• If you’re employed, share your salary slip or certificate along with proof of employment.
• For self-employed applicants, include your business address proof and balance sheets for the last three financial years.
• Attach copies of Income Tax or Wealth Tax returns for the previous three years (if applicable).
• Add your bank statement or passbook copy showing transactions for the past six months.
• Include documents for any additional income, such as rent receipts or investment interest statements.
• A copy of your driving licence is also required.
• Lastly, get a quotation or proforma invoice for the vehicle from an authorised dealer.

Having these documents ready helps you demonstrate your eligibility and speeds up your bike loan approval process. 

Follow these simple steps to apply and get your two-wheeler loan approved with ease:

Online Application

1. Visit the official Indian Bank website and go to the ‘Vehicle Loan’ page. 

2. Select the ‘IB Vehicle Loan’ option and click on ‘Apply for loan’. 

3. Select if you are an existing customer of Indian Bank or a fresh applicant. 

4. Fill in your personal details, contact information, vehicle choice, and income particulars. 

5. Upload scanned copies of your identity, address, income, and vehicle quotation documents. 

6. Submit the application and track status online via the bank portal or SMS updates. 

Offline Application

1. Visit the nearest Indian Bank branch or vehicle-loan desk.

2. Meet with a loan officer and discuss your desired loan amount, bike model, and repayment tenure.

3. Provide original and photocopies of required documents (ID, address, income, vehicle quotation).

4. Fill out the physical application form and sign it. 

5. The branch processes your application; once approved, the loan is disbursed to the dealer or your bank account. 

You can opt for either the digital or branch route — whichever suits you best for convenience or assistance. 

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