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HDFC Two Wheeler Loan

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Two Wheeler Loan
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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.

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

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
Product Min IRR Max IRR Avg IRR
Two wheeler loan 11.81% 24.00% 22.28%
Super Bike Two Wheeler Loan 10.50% 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 Charges Two Wheeler Loans
Documentation Charges Maximum is 3% of Loan Amount
Loan Processing Charges Maximum 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 penalty If 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 Certificate Nil
EMI return charges/ Cheque Bounce Rs 550/- only
Stamp Duty At actuals as levied by respective State Govt
Legal, Repossession & Incidental charges At actuals
PDD Collection Charges Up to Rs.300/-
CIBIL Charges (only on request) Rs. 50 only
Loan cancellation charges NIL (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 NOC Rs. 500/- per request
Cheque/ECS swapping Charges Rs 500/- only
Reschedulement Charges/ Loan Rebooking Rs 1000/- only
Special NOC Charges Rs 500/- only
Amortization Schedule Charges Rs 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.

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 50 1 2 3 4 5
  • HDFC Bank Two Wheeler Loan
    "Good"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken a two wheeler loan with HDFC BANK on 2 years before which was processed through a showroom for the amount of 40 thousands for the tenure period of 2 years. The rate of interest was nominal. For EMI amount paying for the amount of 3 thousands. Now I have closed the loan. They have given NOC letter. The bike model is Glam-our.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Oct 15, 2019
  • HDFC Bank
    HDFC Bank Two Wheeler Loan
    "Good Loan Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    HDFC is providing me a very comfortable service. Due is pending means, the staffs are helpful. They will send the reminders about the due date. I bought a loan amount of Rs. 70000 in that 40000 is pending to pay. In the tenure period of 29 months, i have completed 15 months already.
    Was this review helpful? 0
    , erode
    Reviewed on Oct 15, 2019
  • HDFC Bank Two Wheeler Loan
    "Very useful loan"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    HDFC has offered me a pre-approved two wheeler loan. Since its pre-approved the interest rates are high because they offered me 19%. I had taken loan amount of Rs. 72000 approximately. The loan is on going now. I'm paying the EMI of Rs. 3600. I have selected the tenure period of 24 months.
    Was this review helpful? 1
    , guntur
    Reviewed on Oct 11, 2019
  • HDFC Bank Two Wheeler Loan
    "Better Loan Service"
    HDFC BANK
    0.5 4.0/5 "Great!"
    My friend was working in HDFC and he suggested me to take the loan so i have paid a less down payment. Still 1 year more to pay the EMI amount because i got the loan in the year of 2017. I paid the down payment of Rs. 8000 and cost of the bike is Rs. 1 lakhs.
    Was this review helpful? 1
    , coimbatore
    Reviewed on Oct 10, 2019
  • HDFC Bank Two Wheeler Loan
    "Need to decrease interest charge"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken a two wheeler loan with HDFC bank on 1 year before which was processed through a showroom. The amount was sufficient of 60 thousands for the tenure period of one year 8 months. The rate of interest was high. The bike model was Honda. Their service is good and approachable.
    Was this review helpful? 2
    , hindupur
    Reviewed on Oct 04, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Loan service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I bought the two wheeler from HDFC and i'm satisfied with their services. I have paid the down payment of Rs. 18000 and bought the loan amount of Rs. 56000. I have paid the EMI amount of Rs. 2482. I have selected the duration of 24 months and they have sanctioned the loan on the spot.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Oct 01, 2019
  • HDFC Bank Two Wheeler Loan
    "Overall Good"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Usually every month the amount used to deduct from my account for my HDFC two wheeler. Once they have not deducted the amount, when i enquired about that, they said due to some technical issue, they were unable to take the EMI amount later they have charged me extra and saying my cheque got bounced. It was a duration of 24 months for my loan. The manager accepted the mistake but he said there was no option to return the charges.
    Was this review helpful? 0
    , bangalore
    Reviewed on Sep 30, 2019
  • HDFC Bank Two Wheeler Loan
    "Loan was fine"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken my two wheeler loan from HDFC. I have a account with HDFC so i have selected them. I bought the loan in 2015. Early month i have paid the EMI amount of Rs. 2800 approximately and i have already closed this loan. I got the loan immediately and the documentation process was good.
    Was this review helpful? 0
    , jamshedpur
    Reviewed on Sep 30, 2019
  • HDFC Bank Two Wheeler Loan
    "Good "
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Already, I had two wheeler loan with HDFC BANK and it was completed 8months back. My experience was very good. I have purchased Yamaha Bike and they have sent the documentation directly to my home. Once I have visited the branch at Palakad, the response was good.
    Was this review helpful? 2
    , palakkad
    Reviewed on Sep 29, 2019
  • HDFC Bank Two Wheeler Loan
    "Excellent"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken a two wheeler loan from HDFC BANK before 10 years ago. They were ready to provide the loan which have processed it. The interest rate is feasible and the services are good at that period. There is no deviation on the process and they sent the NOC letter to my home address.
    Was this review helpful? 1
    , ahmedabad
    Reviewed on Sep 28, 2019
  • HDFC Bank Two Wheeler Loan
    "Good"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken a two wheeler loan with HDFC bank on 2 years before which was recommend by bike showroom. The amount they offered for 1 lakh for the tenure period of 3 years. Within 2 days they have sanctioned the loan .The bike model is Royal Enfield.
    Was this review helpful? 2
    , madurai
    Reviewed on Sep 26, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Experience"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Long back I availed two wheeler loan from HDFC, they sanctioned the requested amount I purchased Honda pleasure from the on road price they approved 80% of amount its was satisfactory. Even the rate of interest was reasonable with their end.
    Was this review helpful? 2
    , madurai
    Reviewed on Sep 23, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken Two Wheeler Loan through HDFC Bank direclty . The rate of interest and the processing fee was nominal and loan got sanctioned immediately.There was no issue faced so far when applied for this loan ,once loan was eligible then gave documents and the vehicle model was Suzuki Access 125CC .
    Was this review helpful? 1
    , madurai
    Reviewed on Sep 20, 2019
  • HDFC Bank Two Wheeler Loan
    "Hassle Free Experience"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I already received HDFC two wheeler, they charged me 13% of interest for per annum for the amount of Rs.75,000 its a ex showroom price of Honda shine. There was no charges deducted from the disbursement. I have closed the loan by paying all the dues and I got the NOC letter.
    Was this review helpful? 1
    , patna
    Reviewed on Sep 20, 2019
  • HDFC Bank Two Wheeler Loan
    "Good services"
    HDFC BANK
    0.5 4.0/5 "Great!"
    It was in 2011, i have got my two wheeler loan from HDFC because it was a only bank used by me. Their interest rates are nominal for the two wheeler loan and i have made the down payment of Rs. 20K. Immediately, they have sanctioned the loan after collected all the documents and it was done by the HDFC executive.
    Was this review helpful? 0
    , noida
    Reviewed on Sep 19, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    4 months before, i have bought my two wheeler loan from HDFC because one of my colleague suggested me to take the loan from HDFC. They have offered me a interest rate of 10.5% and every month I'm paying the premium amount of Rs. 4327. I have chosen the tenure period of 18 months.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Sep 19, 2019
  • HDFC Bank Two Wheeler Loan
    "Very good experience"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken motor vehicle loan from HDFC BANK for 2 times and the services are very good. They have directly credited the amount into my account. The rate of interest and charges are good but SBI is not providing vehicle loan. I have completed the loan by last year.
    Was this review helpful? 1
    , dhanbad
    Reviewed on Sep 19, 2019
  • HDFC Bank Two Wheeler Loan
    "Need to decrease interest charges"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken a two wheeler loan with HDFC BANK and its going to complete in next 6 to 8 months. I don't have any issues. They are charging for a high of 13% as interest for the loan amount of 35 thousands. The duration is 1 year 8 months. By a showroom I was applied for a loan. The bike model was splendor.
    Was this review helpful? 0
    , dhanbad
    Reviewed on Sep 18, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Loan "
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I already taken the two wheeler loan from HDFC and its cleared. Its easy option and quickly i got the loan hence i approached HDFC for my two wheeler loan. I had applied the loan amount of Rs. 50000 and i have made down payment of Rs. 20000. I have paid the EMI amount of Rs. 3168. They have provided me a tenure period of 23 months.
    Was this review helpful? 4
    , bangalore
    Reviewed on Sep 18, 2019
  • HDFC Bank Two Wheeler Loan
    "Need to reduce rate of interest"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I am paying a two wheeler loan with HDFC BANK and its going to complete in next 3 to 4 months. I don't have any issues and the premium is getting debited automatically. They are charging monthly Rs,500 as interest for the loan amount of 50K. The duration is 3years. They said that will provide me an insurance for bike but failed to do it which am not satisfied.
    Was this review helpful? 2
    , madurai
    Reviewed on Sep 17, 2019
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