Capital First Two Wheeler Loan
Capital First, which is now IDFC First Bank, offers bike loans at attractive interest rate and will finance up to 95% of the vehicle's value. The loan process is also done quickly with online applications and approvals that can be done in minutes.
Table of Contents
Capital First Two-Wheeler Loan Interest Rate
Category | Details |
Rate of interest | 9% p.a. and 22% p.a. |
Margin | Up to 95% of the vehicle price |
Maximum loan amount | Up to Rs.20 lakh |
Minimum Loan Amount | Rs.7 lakh |
Income | At the discretion of the bank |
Repayment Period | Up to 4 years |
Processing Fee | Up to 4% of the total amount |
Prepayment Charges | 5% of principal outstanding amount |
Compare with: Lowest two wheeler loan interest rate
Features and Benefits
The features and benefits of the Capital First two-wheeler loan are given below:
- Once loan amount is sanctioned, it is transferred directly to the dealer
- Margin is only 5% of the vehicle price
- Online application and approval for quick disbursal
- Minimal documentation
- Fixed interest rate that protects from future interest rate hikes
Capital First Two-Wheeler Loan EMI Calculator
Knowing precisely how much your Equated Monthly Instalment (EMI) will be on your Capital First, now IDFC First Bank, two-wheeler loan will be helps you in planning your finances better and ensuring that you are able to make regular payments without any hassle.
To know what your EMI will be, all you have to do is visit the official website of Capital First, which is now IDFC first Bank. Click on 'EMI Calculator' on the navigation panel.
This is a free online two wheeler loan emi calculator that will display your EMI instantly. All you have to do is enter the correct figures for your loan amount, interest rate, and repayment tenure using the slider. Your EMI is displayed instantly.
Capital First Two-Wheeler Loan Eligibility
The eligibility criteria are as follows:
- Individuals above 18 years of age
- Salaried individuals: Employed for minimum 6 months
- Self-employed individuals: Been in business for minimum 2 years and be above 21 years of age
Find: Two Wheeler Loan Eligibility
How to Apply for Capital First Bike Loan?
You can apply for a Capital First bike loan/IDFC First Bank two-wheeler loan through any one of the following ways:
Online: Visit the bank's official website and click on the tab 'Products'. From the dropdown menu, click on 'Two-wheeler Loans'. Click on the button 'Apply Now'. You will be prompted first to enter your mobile number, for which you will get an OTP for verification.
Once that is entered, you will have to enter your personal details and employment details. The bank will get in touch with you shortly.
Offline: You can also walk into your nearest branch and apply directly for the two-wheeler loan.
Mobile App: You can download the official mobile app of the bank and fill in and submit the application form there.
You can also submit your two-wheeler loan application and get quick approvals on BankBazaar.com (link to be added to: ). You can compare loans and choose the one that is the best fit for your budget and requirements.
Documents Required
These are the documents required to apply for a bike loan from Capital First or IDFC First
Photo identity proof
which is the self-attested copy of any one of the following documents:
Address proof
which is the self-attested copy of any one of the following documents:
- Aadhaar card
- Driving license
- Passport
- Ration card
- Landline bill
Fees and Charges
Services | Fees charged (in Rs.) |
MI Bounce charges per presentation* | 400 |
Late payment fee | 2% per month of the EMI not paid or Rs.300 whichever is higher |
Charges for cheque swap (per swap)* | 500 |
Charges for cancellation & rebooking | 1000 |
Foreclosure / Prepayment charges* | 5% of principle amount outstanding |
Loan re scheduling charges (per re scheduling) | NA |
Charges for duplicate no objection certificate Issuance * | 500 |
Physical Repayment Schedule * | 500 |
Physical Statement of Account* | 500 |
Charges for document retrieval (per retrieval)* | 500 |
Charges for stamping | As per actuals |
Processing fees | Up to 4% of the total amount |
Document list | NA |
Part Payment charges | NA |
Application Fees (Non-refundable) | NA |
Fee for Easy Buy Card Replacement | 99 |
Fee for EBC & Push Card | 499 |
Admin Fee (if applicable) | Up to Rs.1200 |
PDD charges | Up to Rs.1000 |
Other Charges (if applicable) | Up to Rs.1000 |
EMI Pickup | 350 |
Pre EMI | 350 |
Security Post Dated Cheque Waiver | 500 |
Legal charges | As per actuals |
Valuation charges (If applicable) | As per actuals |
FAQs on Capital First Two Wheeler Loan
- What is the minimum repayment tenure for a bike loan from Capital First?
The minimum repayment tenure is for 6 months.
- Is any security or collateral required?
Yes, the security or collateral required is the hypothecation of the two-wheeler which you are purchasing with the loan from Capital First or IDFC First Bank. This hypothecation will be released when you completely pay back the loan.
- Can I change the loan tenure later?
You can call the bank or visit the nearest branch to change your loan tenure later.
- Can I take an insurance along with my loan?
Yes, the bank will help you to get the best insurance policy for your bike such that you can pay the premiums along with the EMIs.
- Are part-payments allowed on my bike loan from Capital First?
No, Capital First or IDFC Bank does not allow part-payments on your loan.
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