How to apply for bike loan?
If you have been thinking of reclaiming your independence to move around, there is no better time than now to buy your dream bike or scooter at affordable interest rates. You can avail up to 100% finance at flexible tenures and easy repayment options.
You can simply apply online, check your eligibility status in under five minutes and get instant funds. Getting a loan sanctioned has never been this easy, fast and stress free. Here is your 5-step guide to get an HDFC Bank Two Wheeler Loan.
1 - Pick a Two Wheeler Loan
Decide the brand and type of Two Wheeler Loan that is likely to serve your needs best. If you are looking for something beyond just a regular bike, HDFC Bank also offers Super Bike Loans.
- You need not bother with standing in long queues since the bank will send its staff at your door step to complete the documentation work, when you apply online.
- And you end up saving up to Rs. 12,500
That’s not all. HDFC Bank Two Wheeler Loan has more benefits
- For HDFC Bank account holders, the interest rate is 2% lower
- Get flexible repayment tenure from 12 months to 48 months
- Enjoy superfast loan approvals, so you need not wait forever for your dream vehicle to arrive
- If eligible, you can get up to 100% financing without having to make any down payment
2 - Check your loan eligibility
You can check your loan eligibility in less than two minutes. Follow these simple steps to check your Two Wheeler Loan eligibility and you can get going with your loan application.
- You can go here to check the eligibility criteria like the minimum gross income, age limit of the applicant, and residential status among other parameters.
- On clicking on the ‘check eligibility’ option, you are taken to a login page.
- Here, if you are already an HDFC Bank account holder, you can log in with your Customer ID and verification code. If not, you can still log in with your phone number and verification code that will be sent to your mobile number.
- HDFC Bank account holders will see a pop up window informing you about a possible option of the loan amount and tenure you are eligible for. In most cases, you can avail up to six times of your annual income as the loan amount. You can choose to skip this option, if it doesn’t fit suit your needs.
3 - Calculate your Two Wheeler Loan EMI
After an eligibility check, you can find out how much EMI you are likely to pay out on your loan and in what duration.
- Find the HDFC Bank Two Wheeler Loan EMI Calculator.
- Key in your personal and financial details along with the details of the vehicle model and indicative prices
- Adjust as required to arrive at an optimal EMI
4 - Apply online
Having done your homework, you can simply go visit the webpage online and apply for your HDFC Bank Two Wheeler Loan. You will be asked to fill your personal and financial details. You will also need to provide exact details about the vehicle like the RTO location, Dealer’s name and on road price.
Since the entire approval process is digital, you can get your Two Wheeler Loan application status in 15 minutes straight.
5 - Submit documents
HDFC Bank has the simplest and most hassle free documentation process. Here is a checklist of Two Wheeler Loan documents.
Looking to apply for a Two Wheeler Loan? Click here to get started!
* Terms & conditions apply. Two Wheeler Loan disbursal at sole discretion of HDFC Bank Ltd. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.
How To Get A Two Wheeler Loan