Two Wheeler Loan
Enjoy 2% lower interest rate with 50% discount on processing fee exclusively for HDFC Bank account holders
- 2% lower rate and 50% lower Processing Fees for A/c holders
- Savings upto Rs 2375/-*
- Check eligibility in 1 minute. Approval in 15 minutes.
(savings calculated on loan amount of Rs 50000/- . Approval TAT from the time of submission of relevant documents at branch with no address change applicable for account holders.)
- Speedy Approval
- Convenient and Hassle free
Calculate your EMI
Use our Two Wheeler Loan EMI Calculator to find out how much EMI you will have to pay for your Two Wheeler Loan.
Status of Loan Application
Click here to view the status of your Two Wheeler Loan application.
Features & Benefits of Two Wheeler Loan from HDFC Bank
Whatever be your need we have a loan for you. Over the years we have won the trust of our customers and have become market leader in loan products.
You will get some exclusive features and benefits with your HDFC Bank Two Wheeler Loan
- 2% lower rate and 50% lower Processing Fees for A/c holders
- Savings upto Rs 2375/-*
- Check Loan eligibility in 5 min and loan status in 15 min*
- Get flexible repayment options, ranging from 12 to 48 months available even at the point of purchase.
- Repay through ECSStands for Electronic Clearing Service. It is a mode by which funds are automatically debited to your account every month to pay or a certain bill or fee. It helps so you don’t have to remember every month to pay your regular bills. It is only done after a standing instruction is given by the account holder./Standing Instructions/post-dated cheques with easy EMIs.
- Calculate your EMI.
- Get hassle free loans
- Loan available across 3000+ branches Pan India
- Get a speedy loan approval.
- We provide loans up to 100% for Account holders for specific models at attractive interest rates.
Enjoy triple benefits when you take a loan from HDFC Bank:
- Faster loan - Our loan sanction and disbursal is one of the quickest with easy documentation and doorstep service.
- Competitive pricing – Our loan rates and charges are very attractive
- Transparency – All charges are communicated up front in writing along with the loan quotation
Eligibility and Documentation of Two Wheeler Loan
Get details on eligibility criteria & documents required for HDFC Bank Two Wheeler Loan
To be eligible for a HDFC Bank Two Wheeler loan, you need to:
- Be a salaried or self-employed individual.
- Be between the age of 21 years (at the time of application) and <= 65 years (at the end of the loan tenor).
- Earn a minimum gross income of Rs. 84,000/- p.a. for salaried profile and Rs. 72,000/- p.a. for self-employed profile.
- Reside for at least 1 year at the given residence address (in case of transfer from other location with less than 1 year at current location - please provide relevant documents to the bank during loan approval stage).
- Be working for at least 1 year.
- Have a phone at your residence or office.
If you are eligible for a HDFC Bank Two Wheeler Loan, you can apply simply by submitting just the following documents:
- Proof of Identity:
Any one of Passport Copy/ 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 Photo is given).
- Address Proof:
Any one of Passport Copy/ Voters ID card/ Driving License/ Rental agreement/ Telephone Bill/ Electricity bill/ Gas Connection Bills/ Ration Card/ Sale deed/ Property purchase agreement/ Credit Card billing statement (latest)/ LIC policy/ Letter from Company or Company provided Accommodation (List of the company's as per the Banks List- ID card of MNC/ Public Ltd.,/ PSU/ Govt. Company Containing the residence address), Address proof in the name of the applicant's Spouse or parents name is acceptable.
- Income Proof:
For Salaried : Latest Salary slip for Govt. employees; If Salary slip is not available, Only salary certificate to be accepted with deductions, For Partnership/ Proprietary firms & Pvt. Ltd. Co's- Salary Certificate to be accepted with the following mitigants: Salary Certificate to clearly state the deductions, Name & Designation of the authorized signatory.
For Self-Employed: Copy of the latest I. T. return.
What are the Special Schemes available?
We have special Two Wheeler loan schemes for you that suit your needs.
- Tenure up to 48 months.
- Pre approved Loan of upto 100% for Account Holders on select models.
What are the Interest Rates & Charges of Two Wheeler Loan ?
Enclosed below are HDFC Bank Two Wheeler Loan Interest Rates & Charges
Here is the list of all the charges applicable to your Two Wheeler Loans.
|Description of Charges||Two Wheeler Loans|
|Loan Processing Charges||Maximum - 3% of Loan Amount or Rs.600 whichever is higher|
|Documentation Charges||Maximum - 3% of Loan Amount or Rs.600 whichever is higher|
|No Due Certificate / No Objection Certificate (NOC)||Nil|
|EMI Late payment penalty||2.5% Per Month on the Unpaid Installment|
|Stamp Duty||At actuals as levied by respective State Govt.|
|Cheque Bounce / EMI return charges||Rs 550/-|
|Loan cancellation charges:||NIL (However client would be charged interest for the interim period between date of loan disbursementDisbursement of loan means the delivery of the loan funds by the bank to the applicant of the loan. to loan cancellation and Processing fees, Documentation charges & Stamp DutyA tax levied on documents, stamp duty applies to documents like cheques, receipts, licenses and transaction records. would be retained.)|
|Legal, Repossession & Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer.||At actuals|
|Duplicate NOC||Rs. 500/- per request|
|CIBIL Charges (only on request)||Rs. 50|
|PDD Collection Charges||Up to Rs.300/-|
|Cheque/ECS swapping Charges||Rs 500/-|
|Amortization Schedule Charges||Rs 200/-|
|Special NOC Charges||Rs 500/-|
|Loan Rebooking/Reschedulement Charges||Rs 1000/-|
Rates offered to customer during the period of Apr'15 to June'15
|Min IRR||Max IRR||Avg IRR|
|SUPER BIKE TWO WHEELER LOAN||11.00%||15.00%||12.53%|
|TWO WHEELER LOAN||11.75%||24.08%||22.37%|
Annual Percentage Rate offered to customer during the period of Apr'15 to June'15
|Min APR||Max APR||Avg IRR|
|SUPER BIKE TWO WHEELER LOAN||11.00%||15.38%||12.86%|
|TWO WHEELER LOAN||11.99%||31.73%||24.24%|
Note: The above charges are the maximum charges applicable for each type of charge.
* Charges which are in nature of fees are Exclusive of service tax.
Service tax and other government levies, as applicable, would be charged additionally.
Loan Processing fees, Documentation charges & Stamp DutyA tax levied on documents, stamp duty applies to documents like cheques, receipts, licenses and transaction records. is non-refundable.
PDD Collection Charges are refundable in case of loan cancellation.
What you can do online
- To avail a Two Wheeler Loan, you can log a request online and get convenient door step service.
What will be done with the post-dated cheques if I request to change the mode of repayment/ account for my loan?
Post Dated Cheques(PDCs)/Security Cheques submitted towards loan repayment that have not been encashed, will be defaced and retained by the Bank. In case, you wish to have your old Post Dated Cheques(PDCs)/ Security Cheques to be returned to you, kindly lodge a request at the Retail Loan Service Center or through PhoneBanking or write us an email at www.hdfcbank.com/services within 45 days from the date of application of change in repayment instructions. In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.
How much time will it take to change the mode of repayment/ account for repayment of my loan?
It will take 25 working days to activate the revised instructions. In case your next installment falls due prior to the said date, instruction already lodged with us will be presented for payment.
In which other ways can I get in touch with the bank for details on Two Wheeler Loans?
What is Grahak Seva Kendra?
Our Grahak Seva Kendra addresses your queries pertaining to Two-Wheeler Loans.
Contact our Grahak Seva Kendra on 020-39401010 between 10:00 AM and 05:30 PM from Monday to Friday, and 10:00 AM and 01:30 PM on Saturday.
Alternatively you can also contact our PhoneBanking number for customer support.
Do I have the option to pre-pay the entire loan amount?
Yes, you can pre-pay the loan any time after six months of availing of the loan at a nominal charge.
Kindly note :- No Cash Payment accepted towards Pre-payment of loan, Only DD/MC/Cheques accepted.