• HDFC Two Wheeler Loan

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    Two Wheeler Loan
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    • Attractive interest rates
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    One of the leading private banks of the nation, HDFC Bank is extremely popular amongst its customers for quick loan disbursal, swift service and credibility. Incorporated in the year 1994, the bank currently boasts of a wide network of 4,014 branches and 11,766 ATMs spread across the nation. Offering a wide array of financial products and services, HDFC has witnessed a rapid growth since its inception.

    Two Wheeler Loans from HDFC Bank:

    HDFC offers two wheeler loan at affordable interest rates, with minimum documentation, making it a hassle-free and smooth process. One of the USPs of the bank is also its quick disbursal of loans. Owning a two wheeler is a dream that every Indian cherishes. While some see it as the most ideal mode of daily transport, some want to enjoy the thrill of biking across the vast and varied geographical terrain of our nation. HDFC two wheeler loans provide you with ideal financial assistance to buy a two wheeler of your choice.

    Also Read: Two Wheeler Insurance.

    Features and Benefits of HDFC Bank Two Wheeler Loan:

    HDFC two wheeler loans come with a wide array of attractive features and benefits. They have been listed below –

    • The loan comes with a 2% lower rate. The processing fees is 50% lower for HDFC account holders.
    • The bank provides an online facility of checking the loan eligibility and loan status in no time.
    • The repayment options, ranges from 12 to 48 months. This is flexible repayment options. This facility is available even at the point of purchase.
    • EMIs can be easily paid through Standing Instructions, ECS or post-dated cheques.
    • Practical and easily affordable interest rates.
    • Loans can be availed from more than 3000 branches across India.
    • Quick disbursal of loan and hassle-free process.
    • Easy documentation process and doorstep service
    • Two wheeler loans are provided up to 100% to HDFC account holders for specific two wheeler models.
    • All the loan charges are communicated in writing along with the loan quotation

    You May Like To Read : Two Wheeler Insurance Online.

    HDFC Two Wheeler Loan Interest Rates:

    One of the key features of HDFC Two Wheeler that has made it so popular in the Indian market is the competitive interest rate. Interest rate of the loan which starts at 10.50% and goes up to 14.85% (Average IRR of 12.25%) for superbike two wheeler loan lets you save big. The minimum interest rate for a standard two wheeler loan is 11.81% and maximum is 24.00%.

    Interest Rate Average
    ProductMin IRRMax IRRAvg IRR
    Two wheeler loan11.81%24.00%22.28%
    Super Bike Two Wheeler Loan10.50%14.85%12.25%

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    HDFC Two Wheeler Loan Fees and Charges:

    The charges applicable to your HDFC Two Wheeler Loans is minimal compared to other banks. These include necessary charges such as Pre-payment charge, EMI Late payment penalty, Loan cancellation charges etc.

    EMI Late payment penalty: If you happen to be late on your EMI payment due to an unavoidable reason, you will be charged 2.5% Per Month on the Unpaid Installment.

    The pre-payment charge that one will have to bear differs and depends on when you make the prepayment. There are slabs of periods to which a certain percentage will be assigned. For example, if you do prepayment between 7 and 12 months from the date of the 1st EMI, the pre-payment charge will be 6% of principal outstanding. Refer the table below to see the complete list:

    Description of ChargesTwo Wheeler Loans
    Documentation ChargesMaximum is 3% of Loan Amount
    Loan Processing ChargesMaximum is 3% of Loan Amount
    Pre-payment charges
    • If within 7 to 12 months from the date of the 1st EMI, the pre-payment charge will be 6% of principal outstanding.
    • If pre-payment is done between 13 and 24 months from 1st EMI, the charge will be 5% of principal outstanding.
    • If prepayment is done after 24 months from 1st EMI, you will be charged 3% of the principal outstanding.
    • Customers are not permitted to do prepayment within six months of EMI repayment
    EMI Late payment penaltyIf you are late to pay your EMI, you will be charged 2.5% Per Month on the Unpaid Installment
    No Objection Certificate (NOC)/ No Due CertificateNil
    EMI return charges/ Cheque BounceRs 550/- only
    Stamp DutyAt actuals as levied by respective State Govt
    Legal, Repossession & Incidental chargesAt actuals
    PDD Collection ChargesUp to Rs.300/-
    CIBIL Charges (only on request)Rs. 50 only
    Loan cancellation chargesNIL (The customer will however be charged interest for the interim period between date of loan disbursement and date of loan cancellation. Documentation charges, Processing fees and Stamp Duty would be retained.)
    Duplicate NOCRs. 500/- per request
    Cheque/ECS swapping ChargesRs 500/- only
    Reschedulement Charges/ Loan RebookingRs 1000/- only
    Special NOC ChargesRs 500/- only
    Amortization Schedule ChargesRs 200/- only

    HDFC Two Wheeler Loan Eligibility:

    Applicant of HDFC two wheeler loan has to be –

    • At least 21 years old at the time of applying for the loan, and less than 65 years at the end of the loan tenure.
    • A salaried or self-employed individual.
    • The minimum gross income for salaried individuals should be Rs. 84,000/- per annum, and Rs. 72,000/- per annum for self-employed individuals.
    • Working for minimum 1 year.
    • Own a telephone at his/her office and house.
    • Reside for minimum 1 year at the given address.

    Documentation:

    • Proof of residence/ address proof
    • Copy of - passport, voter’s identity card, Driving license, Electricity bill, Ration card, most recent credit card bill. Address proof in the name of the applicant's spouse or parents’ name is also valid.
    • Proof of Identity:
    • Income Proof:
      1. For Salaried Individuals - For Govt. employees, the most recent salary slip.
      2. For Self-Employed: Copy of the most recent Income Tax return form.

    Frequently Asked Questions (FAQs) On HDFC Bike Loan:

    1. What is the loan processing charge on HDFC Two Wheeler Loan?

      The bank charges an affordable loan processing fee of 3% of the loan amount or Rs. 600, whichever is higher.

    2. Is there any penalty charged if I fail to pay my two wheeler loan EMI on time?

      Yes, a penalty of 2.5% per month is charged on the unpaid instalment.

    3. Does HDFC provide any special schemes on two wheeler loans?

      Yes, the following schemes have been designed to suit the varied needs of customers:

      • Loan tenure of up to 48 months.
      • Pre-approved loan of up to 100% for HDFC account holders on selected two wheeler models.
    4. Can I pre-pay the entire loan amount?

      Yes, customers can pre-pay the loan after the first six months of availing of the loan. You will be charged a nominal charge for doing so. It must be noted that Cash Payment will not be accepted towards Pre-payment of loan. Customers will have to pre-pay using DD/MC/Cheques.

    5. Will I need a guarantor to get a loan?

      Not in most cases. Unless you fail to meet the Bank's norms, you will not need a guarantor. If you are asked to get a guarantor, he/she will become a co-endorser and assumes liability in event of default.

    6. If my vehicle’s loan has been fully repaid and closed, how can I get a duplicate NOC/Form 35 for it?

      You can get a duplicate NOC/Form 35 by visiting any of the Retail Loan Service Center and submitting these documents:

      • The Original Registration Certificate book for validation and duly Self-attested copy of the Registration Certificate book.
      • Request form for Duplicate NOC/Form 35.
      • Applicable fee of Rs. 500/- which is paid with a pay order/ cheque/ demand draft favouring "HDFC Bank Ltd Loan Account No. << >>".
      • If you, the borrower is not available to submit the request personally, a bearer may do so for you. In this case, the bearer’s authorization, bearer’s KYC documents (self-attested copy and original for validation), i.e. Identity and Signature Proof like Aadhaar Card, Driving License, PAN Card or Passport Copy have to be submitted.
      • You will not be granted the Loan Closure NOC/Form 35 if:
      • You cannot provide a copy of RC Book
      • The same vehicle is encumbered to the Bank for another loan.
      • If you happen to have a notice from any authority that restrains the Bank from releasing hypothecation
      • If there are any kind of over dues in your name
    7. How much will I be charged as processing charge for the HDFC Two Wheeler Loan?

      The processing fee charged is Rs. 600 or 3% of the loan amount (whichever is higher).

    8. Will I be charged if I am unable to pay my two wheeler loan EMI on time?

      Yes, you will be charged a penalty of 2.5% per month if instalment is unpaid.

    9. Are there any special schemes that HDFC provides on two wheeler loans?

      Yes, there are various schemes that HDFC provides to suit the different needs of customers:

      • As a HDFC account holder, you can avail a pre-approved loan of up to 100% on selected two wheeler models.
      • You can avail loan tenure of up to 48 months.
    10. Is it possible for me apply for HDFC online?

      Yes, applying for HDFC loans is possible online. Simply click on the ‘Apply Now’ button and fill in all the required details correctly. Thereafter, you shall be directed and the loan application process will be completed in no time.

    11. How can I calculate my two wheeler loan EMI?

      You can calculate your EMI using the dynamic tool loan EMI calculator that HDFC Bank portal provides. Simply fill in the required details and your loan EMI will be calculated.

    12. I have to change the mode of repayment for my loan. If i request for this change, what will be done with the post-dated cheques then?

      Security Cheques/ Post Dated Cheques (PDCs) that are submitted to the bank for loan repayment, but have not been encashed, will be defaced and retained by the Bank. It is possible for you to get your old Security Cheques/ Post Dated Cheques (PDCs) back. You can do so by lodging a request at the Retail Loan Service Center or through Phone Banking. Alternatively, you can write to the bank at www.hdfcbank.com/services within 45 days from the date of application for repayment instructions to be changed. If you do not contact the bank within the expected time period, the defaced cheques will be destroyed.

    13. How many days will the bank take to change the mode of repayment/ account for repayment of my loan?

      The bank will take 25 working days to activate the revised instructions. This means that you will have to continue with the instruction already lodged if your next installment falls due prior to the said date.

    14. How much can I borrow with this loan?

      Rs. 20,000 is the minimum loan amount that you can avail. Rs. 1.5 Lacs is the maximum that you can avail. Depending on the model, you can borrow up to 85% of the ORP.

    15. How much time will it take to process the loan?

      Processing of the loan will be done in 48 hours once the documentation is completed.

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    News About HDFC Two Wheeler Loan

    • Bikes to Be Available on Rent at Bangalore Metro Stations

      According to a new initiative by Bangalore Metro Rail Corporation Ltd. (BMRCL), residents will be able to avail bikes-on-rent service at 36 metro stations of Bangalore out of the total 42. Aiming to boost the non-fare revenue produced by BMRCL, this initiative might be able to help commuters cover the additional distance during the start or end of their journey at a cost of Rs.5 per km or Rs.0.50 per minute. The two-wheeler rental service will not only have 65 to 100 bikes available for use at each metro station, but will also have a stock of bicycles that can be rented out by the people. The bikes-on-rent service is expected to be launched shortly at the Cubbon Park metro station.

      23 February 2018

    • Hero MotoCorp aims to have an exclusive retail network for premium bikes

      Hero MotoCorp, the biggest two-wheeler manufacturer in India, recently announced that it wants to release an exclusive channel for selling only its premium motorcycles that come with an engine capacity of 150cc and above.

      The bike manufacturer presently sells its bread and butter motorcycles such as Glamour, HF Deluxe, and Splendor in the same showroom that sells the company’s performance bikes.

      The Chairman MD and CEO of Hero MotoCorp, Pawan Munjal, said that a customer interested in a premium bike is very different from an individual interested in a 100cc motorcycle. He also said that the company plans to have more bikes in the premium segment.

      8 November 2017

    • Surviving the GST effect two-wheeler industry showed positive growth in August 2017

      Goods and Service Tax or GST implemented on July 1, 2017, had a mixed effect on the two-wheeler companies in India. But the industry which experienced a dip in its sales graph in the month of July has smartly swayed off the GST effect and regained its position by August 2017. Renowned two-wheeler manufacturers like Royal Enfield, Suzuki Motorcycles, Hero Motocorp and TVS Motors are among the popular brands which reported a positive growth.

      The largest two-wheeler company in India, Hero Motocorp has broken its monthly sales record by registering 10.11% sales in the month of August. Another market leader, Royal Enfield continued with its growth chart in August by achieving a sales record of 22%. Just like its market competitors, TVS Motors also witnessed a 16% increase in its monthly sales compared to what it achieved in August 2016. However, with a solid 54.3% growth, Suzuki Motors topped the list by posting its highest monthly sales ever.

      When most of the two-wheeler manufacturing companies registered positive sales record, Bajaj Auto was not lucky enough like its counterparts. The company witnessed a decline in its sales record by 2%, compared to what it achieved in 2016.

      14 September 2017

    • Bajaj Dominar 400 launched in India on 15th December

      Bajaj Dominar 400 was scheduled to be launched on 15th December, but had started reaching company dealerships across India ahead of its launch date. The Dominar 400 is a production version of the CS 400 concept. The bike has a 373cc engine, similar to the one in KTM Duke 390. It will likely come with Bajaj's patented triple-spark technology, and will be mated to a 6-speed gearbox. The Dominar 400 is a sports-cruiser, competing against Mahindra Mojo 300, and the Royal Enfield Himalayan.

      5 January 2017

    • Buy a new Suzuki through PayTM and HDFC

      In light of the recent demonetization of the Rs.500 and Rs.1,000 currency notes many people are making purchases online for their day-to-day needs. Now you can even buy two-wheelers online. Suzuki Motorcycles has tied up with PayTM and HDFC to facilitate cashless payment for their motorcycles. Customer will be able to pay up to Rs.20,000 to book their new motorcycles and the remainder can be financed, in addition PayTM will give Rs.3,000 as cashback on delivery. HDFC account holder will be able to get their new motorcycles 100% financed by the bank and this offer extends to people who do not have accounts with HDFC, as HDFC is ready to finance up to 90% of the cost of the motorcycle for people who are not their customers as long as they can furnish a proof of income.

      5 December 2016

    • HDFC's '30-min auto' and '15-min 2-wheeler' Loan Schemes Launched

      HDFC Bank, India's second largest lender in the private sector introduced two new loan schemes - '30-min auto' and '15-min two-wheeler'. The bank's customers can now avail auto loans in just a matter of 30 minutes and get approval for two-wheeler loans in a span of mere 15 minutes.

      The HDFC loan schemes use the biometric technology to provide loans. Now, customers can just provide their Aadhar card number and fingerprint at any auto dealership or any of the bank's touchpoints to avail a loan from HDFC. Based on the customer's profile and eligibility, the loan can be approved within a short time and minimal documents. This Go Digital initiative of HDFC is expected to go one step higher in meeting customers' financial needs.

      7 April 2016

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    HDFC Two Wheeler Loan Reviews

  • Page 1 of 44 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Good"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I have taken the two wheeler loan with the HDFC bank and the interest rate was not aware from my end like it got completed before three years of time. I would like to say that the processing charges were nominal one with them.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 24, 2018
    • HDFC Bank Two Wheeler Loan
      "Very good"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have my two wheeler loan with HDFC Bank for about 2 months. The loan amount was 50,000 and the Interest rte was 17% which is average in the market. They have sanctioned the loan with the committed time and the processing fee was also nominal..
      Was this review helpful? 0
      , aurangabad
      Reviewed on Feb 23, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken Two wheeler loan with HDFC bank,the loan amounts is 36,000,rate of interest is nominal as compared to others,The tenure is one year.They had deducted minimum amount of processing fees.The bike modal is Activa.The customer service is good
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Got the Two wheeler loan from the HDFC bank around 7 years ago. The customer support service is good with the HDFC bank and they have offered me the loan of 25% and the balance amount has been paid has initial payments. The rate of interest and the charges are average with the HDFC bank two wheeler loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from HDFC and the approved loan amount was 67000. The rate of interest was 8 to 9% were i have to pay a monthly EMI of 2667. The total tenure was for 2 years. The process was quick and the processing fee was 2% of the total amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a credit card with HDFC bank,the loan amount is 50,000.The rate of interest is nominal as compared to others.No processing fees for the same,the tenure is for 24 months.I closed five years ago.I dint have any foreclosure charges.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 16, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Got the Two wheeler loan from the HDFC bank around 3 months ago. The customer support service is good with the HDFC bank. They have disbursed the loan amount within 10days of time. They have offered me the loan amount up to 70% and I am satisfied with it.
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 15, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      I have applied for the Two wheeler loan with the HDFC bank around 5 days ago and I haven't got the call yet from the customer service of HDFC , I believe they will be giving me a call back immediate to process my two wheeler loan application. the customer support service is good with the HDFC bank.
      Was this review helpful? 0
      , gorakhpur
      Reviewed on Feb 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Got the TWO wheeler loan from the HERO FINCORP LIMITED , I have got his two wheeler loan around 2 years ago. The customer support is good with the HERO FINCORP?LIMITED and they have disbursed the loan amount with in a week time. The rate of interest and the charges are average with the HERO FINCORP LIMITED. I am satisfied with the Two wheeler loan service offered by HERO FINCORP LTD.
      Was this review helpful? 0
      , bhimavaram
      Reviewed on Feb 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Better service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Got the TWO WHEELER LOAN from HDFC bank within a day time. The customer support was very quick and fast in their response . The rate of interest and the charges were high , when I got my TWO WHEELER LOAN from the HDFC bank. Overall , I am satisfied with the TWO WHEELER LOAN service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Best service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my loan experience was very good. The loan amount was around 45000-50000 with the nominal rate of interest when compared to other banks. My EMI amount gets auto deducted through ECS and i have a tenure of 24 months. Customer service was good, they followed up on time and their response was prompt.
      Was this review helpful? 0
      , indore
      Reviewed on Feb 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Satisfied"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      My two wheeler loan is with HDFC Bank as well. They have done a good job by collecting the documents on time. The process and customer services are good. Though it is way back, there were no issues in the process. The interest rate and charges are normal.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 09, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and my loan experience was very good. The loan amount was for Rs 25000 with the nominal rate of interest when compared to other banks. The process was smooth and i received my loan amount on time. Customer service was good and they collected documents on time. The tenure of this loan is 24 months and overall it was a good service from HDFC bank.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 09, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      had taken a Two wheeler loan with HDFC bank long back,its closed long back.The EMI amount is 3500 paid through online paymnt.Rate of interest is very low with HDFC as compared to others.I had submitted limited documents to process the same.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 09, 2018
    • HDFC Bank Two Wheeler Loan
      "Good"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      I had a bike loan with HDFC Bank and it was closed before 8 months. It was a good experience. The customer service and response was good with HDFC Bank. The rate of interest was average. I had purchased Honda Unicorn Bike. They processed the loan faster. The documents are collected by the executive.
      Was this review helpful? 0
      , cuttack
      Reviewed on Feb 08, 2018
    • HDFC Bank Two Wheeler Loan
      "Best service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and my loan experience was good. The loan amount was for Rs 50000 with the rate of interest which is nominal when compared to other banks. The process was smooth and i received my loan amount within the given time. Customer service was fine and they followed up on time. The tenure of this loan is 18 months.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 08, 2018
    • HDFC Bank Two Wheeler Loan
      "Always excellent"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had the two wheeler loan with the HDFC bank and they have provided the rate of interest , which was okay one for me. I have got it before four to five years of time. I would like to say that the services are good one with them.
      Was this review helpful? 0
      , surat
      Reviewed on Feb 06, 2018
    • HDFC Bank Two Wheeler Loan
      "Service is good "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Got the Two wheeler loan from the HDFC bank around a year ago. The customer support gave me immediate response in regards to my loan process. They have disbursed my loan amount within a week time. The rate of interest and the charges are quite high from the HDFC two wheeler loan.
      Was this review helpful? 0
      , nalgonda
      Reviewed on Feb 06, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and the loan experience was very good. I pay an EMI of Rs 4300 every month and it has to be paid for next 36 months. The process was quite long and it took time to receive the loan amount. Customer service was good and they responded on time. Overall it was a good experience with HDFC bank.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Feb 02, 2018
    • HDFC Bank Two Wheeler Loan
      "Best service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      My experience with HDFC bank for two wheeler loan was very good, the loan amount was for Rs 50000 with the rate of interest of 12% which is nominal when compared to all other banks. The process was smooth and i received my loan amount on time. Customer service was fine, they followed up correctly and the tenure of this loan is 24 months.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 01, 2018
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