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  • HDFC Two Wheeler Loan

     4.5 / 5.0   by 704 users
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    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Overview of HDFC Bank two wheeler loan:

    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.

    Apply for Personal Loan

    Features and Benefits:

    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

    Perfect Personal Loan Deals for you

    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%
    Apply for Personal Loan

    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

    • 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.

      14th 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.

      5th 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.

      5th 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.

      7th April 2016

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    HDFC Two Wheeler Loan Reviews

  • Page 1 of 36 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Awesome service "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      The HDFC bank has given me a 2 wheeler loan within day time. The customer service is good with HDFC bank. The rate of interest is nominal with HDFC bank. The HDFC bank has given me 95% of loan . I go the tenure of 2years. I am happy and satisfied with the loan amount.
      Was this review helpful? 0
      , hubli
      Reviewed on Sep 20, 2017
    • HDFC Bank Two Wheeler Loan
      "Approachable bank"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from HDFC bank. The approved loan amount was 17000. i got the approval within a week. The rate of interest is 10% with a EMI of 3000. The tenure period for this loan amount is 1 year. Even the executive came to my place to collect the documents.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 18, 2017
    • HDFC Bank Two Wheeler Loan
      "Process is fantastic"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have earlier taken a two wheeler loan from HDFC Bank and the process to get my loan through was great. It was simple and very much on time. Like wise the bank has not charged me a high interest rate and they were minimal on their processing charges too.
      Was this review helpful? 0
      , pondicherry
      Reviewed on Sep 18, 2017
    • HDFC Bank Two Wheeler Loan
      "Good if interest are reduced"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      HDFC banking services are good when compared to other banking services it maintains good rate of interest that would accelerate the market norms and .When i availed loan for the two wheeler the rate of interest is 18.5% which is very high but i liked the bike so had to bend for it with no better options .Not bad tenure period .Customer services are also good
      Was this review helpful? 0
      , kakinada
      Reviewed on Sep 16, 2017
    • HDFC Bank Two Wheeler Loan
      "GOOD SERVICE"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had taken a two wheeler loan from Axis bank and their interest of rate is minimal and their customer service is an excellent one, also the response was very nice. The loan amount got disbursed to my account within same day the loan amount was 54000 and the down payment i had made is 30000 rupees the two wheeler name is Honda activea.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 09, 2017
    • HDFC Bank Two Wheeler Loan
      "Bad experience"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      The bad experience with HDFC bank delayed the two wheeler loan from their end. The approved loan amount was 1.5 lakhs. They approved 100% down payment which i asked for with an EMI of 4000 for 3 years. And documentation pat also was bit time consuming.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 08, 2017
    • HDFC Bank Two Wheeler Loan
      "Very good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Around a year ago I got the Two-wheeler loan from HDFC bank. They have disbursed my loan within 3 to 4 days of time. Thy disbursed the requested loan amount and I am satisfied with their service. The rate of interest is nominal with HDFC bank. This loan has the tenure of 3 years.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Sep 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Average Service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I do not want to mention the drawbacks of the bank in the first line so let me inform about the good things about HDFC bank for the two wheeler loan process. Very first thing is, it is on time process. Everything went good on its time and I did not face any issue during the loan process. But after the disbursal, the bank people informed me there is no need to pay first emi, and it will be applicable from second month onwards. Also they did not provide emi date and other details. But within two to three days of disbursal, they sent notification for first emi payment. At the same time, they did not activate ecs mandate.
      Was this review helpful? 0
      , karur
      Reviewed on Sep 07, 2017
    • HDFC Bank Two Wheeler Loan
      "High interest rate and need to improved"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have applied for a two wheeler with HDFC. The approved loan amount is 50000 for a tenure of 2 years.The rate of interest is 10% ,but i think i was too high for a two wheeler. Any way the approval was very quick and i got the amount within a week...
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Process"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I availed the two wheeler loan from HDFC bank. I am very much interested with the same bank for the same loan again. I do not remember the exact interest rate for the two wheeler loan but it is quite ok. I took this loan for a tenure of one year and the process was really good.
      Was this review helpful? 0
      , jaipur
      Reviewed on Sep 05, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Experience"
      HDFC BANK
      0.5 4.0/5 "Great!"
      HDFC bike loan experience was good, but they took my documents and kept it some where for while. Hence loan process was little inconvenient, they should be clarity on it. Totally I took the loan amount of Rs. 1.40 lakhs for the tenure of six months, Interest rate was good.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 04, 2017
    • HDFC Bank Two Wheeler Loan
      "Excellent "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I am having the two wheeler loan with the HDFC bank and their interest rate is around 13%. I would like to say that the loan amount got disbursed within a week of time and the response is good one . I have got the funds around 90% of the cost of bike as loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 01, 2017
    • HDFC Bank Two Wheeler Loan
      "Wonderful"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have got the two wheeler loan with the HDFC bank and the interest rate is around 19.5% adn the loan amount got disbrused to my account within a week of time. Response is good one with them and they have provided around 85% of the cost of bike as loan.
      Was this review helpful? 0
      , nellore
      Reviewed on Aug 31, 2017
    • HDFC Bank Two Wheeler Loan
      "Not Responsive"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      Loan process and all went good with HDFC but after the disbursement, a lot of troubles I had received from HDFC for my two wheeler loan. Actually this is my first loan and I am not educated about the bank rules and regulations so the cheque got bounced. Second time, I provided everything to activate ecs mandate but the bank did not activated so again I had cheque bounce but that is purely from the bank end. I am not happy with HDFC so I did not open savings account and I would not.
      Was this review helpful? 0
      , mysore
      Reviewed on Aug 30, 2017
    • HDFC Bank Two Wheeler Loan
      "EXCELLENT"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      The executives of HDFC bank contacted me on the same day after I applied for a Two wheeler loan with them. They asked me for very less documents for processing the loan.I have taken this loan in 2015 and the total value of the bike is 92000 and with the down payment of 40000 rupees and they have offered me rate of interest is 21% processing fe charges was around 1% loan amount.
      Was this review helpful? 0
      , akola
      Reviewed on Aug 30, 2017
    • HDFC Bank Two Wheeler Loan
      "Quite Good"
      HDFC BANK
      0.5 4.0/5 "Great!"
      In the year of 2014, I had taken two wheeler loan from HDFC bank. And the bank quoted the interest rate of 11.5% and it is nominal one. Moreover the bank never delayed to disburse the loan amount in to my account, they had done it on time. Loan process went good.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 30, 2017
    • HDFC Bank Two Wheeler Loan
      "EXCELLENT"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have applied for the two wheeler loan with the HDFC bank and they have told that they can provide the full loan amount, I have taken this bike loan last year for the total loan amount 35000 rupees and down payments of 10000 rupees Customer service and the response are really a good one with them and the tenured was for 1 year of time.
      Was this review helpful? 0
      , namakkal
      Reviewed on Aug 30, 2017
    • HDFC Bank Two Wheeler Loan
      "EXCELLENT"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      It was a very good experience with HDFC BANK for the bike loan. I had no difficulties in getting my loan through and even after the loan was disbursed. The monthly EMI is taken on time and they have explained all the details they have offered me normal rate of interest and less processing fee the two wheeler loan amount was 1.31 lakhs, down payment of 25000 rupees and the loan got disbursed with in two days of time.
      Was this review helpful? 0
      , namakkal
      Reviewed on Aug 30, 2017
    • HDFC Bank Two Wheeler Loan
      "Happy service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      About thirteen months ago, I had taken two wheeler loan from HDFC bank. I do not remember the interest rate and first of all, I will not be so concerned about the interest rate and other stuffs. If my loan got approved, then I will confirm the emi amount and the down payments, because I will make the payment promptly. For this two wheeler loan, I am much happy with HDFC bank.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 30, 2017
    • HDFC Bank Two Wheeler Loan
      "Experience is excellent"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      My earlier experience with HDFC Bank was for a two wheeler loan. I bought a Royal Enfield and I also cleared the loan. The process was done in time and it was a fast process. I did not have any issues even after clearing the loan. The interest rate and charges was normal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 29, 2017
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