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  • HDFC Two Wheeler Loan

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    Promised Interest Rate

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    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.

    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

    • 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.

      ></p> <p><em> 5th January 2017 </em></p> </div> <div class=

    • 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.

      ></p> <p><em> 5th December 2016 </em></p> </div> <div class=

    • 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.

      ></p> <p><em>7th April 2016</em></p> </div> <div class=

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    HDFC Two Wheeler Loan Reviews

  • Page 1 of 34 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Always the best"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan twice from HDFC Bank. There were two different instances and both times, the experience is good and satisfactory. The process was quick and very much easy as well. The rate of interest and processing charges was also smooth.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 13, 2017
    • HDFC Bank Two Wheeler Loan
      "Excellent Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have availed two wheeler loan from HDFC bank, this loan would get completed most probably by 6 months. Their interest rate is very nominal when compared with other banks in the market. I am happy banking with HDFC. Their response and the customer service provided by HDFC Bank is really excellent.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Jul 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Customer friendly bank"
      HDFC BANK
      0.5 4.0/5 "Great!"
      HDFC bank is also plays a good role, I am very satisfied with their charges and their norms are good. That's the reason I have taken two loan from HDFC, My loan amount is around Rs.53,000 to purchase Activa worth of Rs.62,000 before two months. Overall HDFC good experience.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Good in customer service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      For two wheeler loan, I had approached HDFC bank and the services are good with them. I had taken the loan with the interest rate of 9.5%. They done with the process in a good manner and all their services are really good. I am happy with HDFC bank.
      Was this review helpful? 1
      , raipur
      Reviewed on Jul 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Supportive "
      HDFC BANK
      0.5 4.0/5 "Great!"
      My two wheeler loan is running with HDFC bank. Recently I got this loan and I had done with 2 EMIs. I do not remember about the interest rate but I am happy with the bank for the loan process. Actually this is my second two wheeler loan from the bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 06, 2017
    • HDFC Bank Two Wheeler Loan
      "Wonderful "
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have closed the two wheeler loan with the HDFC bank and the interest rate was bit like it was around 14%. Customer service and everything was good, also I don't have any issues with them till now. Response is also good one with the HDFC bank.
      Was this review helpful? 1
      , pune
      Reviewed on Jul 06, 2017
    • HDFC Bank Two Wheeler Loan
      "Dissatisfied service"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      I already submitted all the document to HDFC for two wheeler loan. But they kept changing the interest rate they were not transparent in their process. Initially they told me interest rate would be around 12 % then they changed to 20% of interest. I am not fine with their service, Though I am an existing customer they are not good in offers.
      Was this review helpful? 2
      , amritsar
      Reviewed on Jul 03, 2017
    • HDFC Bank Two Wheeler Loan
      "Not Happy"
      HDFC BANK
      0.5 2.0/5 "Expected more"
      During the year of 2014, I got two wheeler loan from HDFC bank. Interest rate was high with the bank and the process was average. I had already completed the loan. But I am not happy with the services of HDFC bank for the two wheeler loan process.
      Was this review helpful? 1
      , guwahati
      Reviewed on Jun 24, 2017
    • HDFC Bank Two Wheeler Loan
      "Convenient and Good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have bike loan with HDFC, I took the loan amount around Rs. 66,000. I have purchased the Honda unicorn HDFC offered 100% loan with the interest rate of 11.5% for the tenure of three years. I am very happy with their service, I didn't face any hassles.
      Was this review helpful? 4
      , chennai
      Reviewed on Jun 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Excellent "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken the bike loan with the HDFC bank and the response is also very good like I got it without any formalities. Customer service is quite good one for me and they have provided around 100% cost of the bike as loan. I am happy with the HDFC bank.
      Was this review helpful? 5
      , guwahati
      Reviewed on Jun 21, 2017
    • HDFC Bank Two Wheeler Loan
      "User friendly "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had a 2 wheeler loan with Hdfc bank around 2 years ago. It has 3 years of tenure. Already I finished paying for 2years 6 months, another 6 months is left to finish the loan. Within 3 days of time I got the loan from HDFC bank. The rate of interest is nominal with HDFC. The HDFC bank has satisfied me with their wonderful service.
      Was this review helpful? 5
      , mysore
      Reviewed on Jun 20, 2017
    • HDFC Bank Two Wheeler Loan
      "Extreme"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I am very much happy with HDFC bank for the two wheeler loan which I had availed from the bank. Interest rate is 12% which is nominal and it is better than the other banks. Customer service is really superb. They had done the loan process extremely well.
      Was this review helpful? 3
      , lucknow
      Reviewed on Jun 20, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      About eight years ago, I had taken two wheeler loan from HDFC bank. The bank is good in processing the loan and they done with the process in a proper way. Interest rate was around 12% and the HDFC people who were in the showroom, they had done all the formalities within a day. I am quite happy with the services of HDFC bank.
      Was this review helpful? 4
      , paradip
      Reviewed on Jun 19, 2017
    • HDFC Bank Two Wheeler Loan
      "Satisfactory services"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has been really good in the two wheeler loan process. They collected my documents on time and processed my details as well. The interest rate and processing charges was normal and the after loan services was also smooth and pretty easy.
      Was this review helpful? 3
      , visakhapatnam
      Reviewed on Jun 19, 2017
    • HDFC Bank Two Wheeler Loan
      "Very good experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I got a 2 wheeler loan with HDFC bank. The process was quite easy and it just took a day time. They have directly disbursed the loan amount to the dealer and I got the 2 wheeler in a same day. The paid back the loan amount through the ECS mode. I have paid the loan amount and cleared within the assigned period. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 17, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Process"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      One year ago, I availed two wheeler loan with HDFC bank. For the loan, they provided good service. They never caused any trouble and done with the process in a smooth manner. Their responses are good. Still the loan is running, I am paying the emi regularly. The entire process is good.
      Was this review helpful? 5
      , madurai
      Reviewed on Jun 15, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I am with HDFC bank for more than nine years. I had availed two wheeler loan from the bank. The loan process went smooth and their marketing executives are good in addressing the customers. I am happy with the bank for my two wheeler loan process.
      Was this review helpful? 4
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Last year I had taken two wheeler loan from HDFC bank. The loan process went good with them. I had taken this loan for two years, I almost completed one and a half years. I had no issues with the bank for the two wheeler loan as it is going smooth till date.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jun 13, 2017
    • HDFC Bank Two Wheeler Loan
      "Good in services"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have an earlier experience with HDFC Bank for a two wheeler loan. The customer services was smooth and I got the loan on time. I even closed the loan when I had five to six EMI pending before the tenure could end. It was a easy process to close it as well.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Jun 10, 2017
    • HDFC Bank Two Wheeler Loan
      "Better "
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had closed the two wheeler loan with the HDFC bank and the interest rate was around 12% to 13% . I would like to suggest that they could reduce it to some extent. They have provided around 85% of the cost of the bike as loan. Response is fine one with the HDFC bank .
      Was this review helpful? 4
      , kolkata
      Reviewed on Jun 07, 2017
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