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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.

    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%

    Perfect Personal Loan Deals for you

    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

    Essential Two Wheeler Loan Pages
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    HDFC Two Wheeler Loan Reviews

  • Page 1 of 50 1 2 3 4 5
    • 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 good, the loan amount was for Rs 45000 with nominal interest rate when compared to others. Customer service was good and they followed up on time. The tenure period for this loan was for 10 months.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 20, 2018
    • HDFC Bank Two Wheeler Loan
      "Average"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      My two wheeler loan was taken with HDFC bank 1 year back. The loan amount was 65,000. The customer service and responses was good. The interest rate was satisfactory . The tenure period was 2 years. The documentation was very good and there is no inconvenience at all.
      Was this review helpful? 4
      , kolkata
      Reviewed on Sep 15, 2018
    • HDFC Bank Two Wheeler Loan
      "Looking for less interest rate"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 41000 where i pay an EMI of Rs 2400. The rate of interest was high when compared to others. Customer service was good and the tenure period for this loan is 24 months.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Sep 12, 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 experience was good, the loan amount was for Rs 70000 with nominal interest rate when compared to others. Customer service was good, i pay an EMI of Rs 2400 and the tenure period is 24 months.
      Was this review helpful? 2
      , gulbarga
      Reviewed on Sep 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I've taken a business loan from the HDFC bank. The loan amount was 5 lacs, at the time of the application I've got a competitive rate of interest. It has been a hassle free business loan experience with the HDFC bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 11, 2018
    • HDFC Bank Two Wheeler Loan
      "Good experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 55000 with nominal interest rate when compared to other banks. I have taken Honda Shine and made a down payment of Rs 21000. Customer service was good and they responded on time. The tenure period for this loan is 30 months.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 05, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have taken a Bike Loan from the HDFC bank. The interest rate was very high, the price of the bike was 2 Lacs and I got the loan for 1.5 Lacs, the rate of interest was very high; a whopping 19% which wasn't a satisfactory experience.
      Was this review helpful? 7
      , pune
      Reviewed on Aug 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Very high interest rate"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I've taken a bike loan from the HDFC bank, The loan amount was 70000. The interest rate was high, they processed the loan pretty fast and the application and documentation was hassle free. It was a smooth loan experience.
      Was this review helpful? 4
      , guwahati
      Reviewed on Aug 31, 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 experience was good, the loan amount was based on requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 29, 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 experience was good, the loan amount was for Rs 60000 with nominal interest rate when compared to others. Customer service was good with HDFC bank and they responded on time. The tenure period for this loan is 24 months.
      Was this review helpful? 6
      , new delhi
      Reviewed on Aug 28, 2018
    • HDFC Bank Two Wheeler Loan
      "Very Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had applied for a Two wheeler loan form them and the experience i had with them has been good. The loan amount which they had offered had been good. Their staffs and their customer support had been good. The branch has been long since because of that i have cancelled the loan application but the interest rate which they had offered also had been good as well.
      Was this review helpful? 4
      , new delhi
      Reviewed on Aug 27, 2018
    • HDFC Bank Two Wheeler Loan
      "good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken two wheeler loan with HDFC BANK and my loan experience was good. Customer service and their response is up to the mark.I am not aware about processing fee . My loan amount is 60000 and interest rate is nominal in the market.There is no hidden charges. I use to pay 2000 as EMI per month and tenure period is 36month.
      Was this review helpful? 8
      , kochi
      Reviewed on Aug 19, 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 experience was good, the loan amount was for Rs 1.5 lakhs with 13% as interest rate which is high. Customer service was good and they followed up on time. The tenure period for this loan is 24 months.
      Was this review helpful? 7
      , bangalore
      Reviewed on Aug 17, 2018
    • HDFC Bank Two Wheeler Loan
      "Best Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken two wheeler loan with HDFC bank and my loan experience was good, the loan amount was for Rs 40000 with nominal interest rate when compared to others. Customer service was good and they followed up on time. The tenure period for this loan is 24 months.
      Was this review helpful? 8
      , new delhi
      Reviewed on Aug 17, 2018
    • HDFC Bank Two Wheeler Loan
      "Nice experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have also taken my two wheeler loan with HDFC Bank. The services are good and responsive. But the rate of interest is very high. It is of 17% and the processing charges are of 250. The process is good and the documentation is minimal. In all no hassles.
      Was this review helpful? 11
      , jaipur
      Reviewed on Aug 03, 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 good, the loan amount was for Rs 55000 with nominal interest rate when compared to others. Customer service was good with HDFC bank and the tenure period for this loan is 24 months.
      Was this review helpful? 5
      , lucknow
      Reviewed on Jul 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had taken this loan for the purchase of my Honda Activa and the process in getting this loan has been good as well. The loan amount which they had given has been satisfactory as well as the interest rate with them had been nominal as well when compared with the market rate. Overall it had been a hassle free experience.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Average"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      My two Wheller loan was taken with HDFC bank 1 Years back.Their interest rate was very high and the tenure period was 1 years . I have taken 35,000 here. I am satisfied with the service and the loan process her . There are no complaints. The documentation was also quite smooth so i would like to recommend the same to others,
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 27, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      It has been a very good experience with them and the process in getting this loan had been good. The process fee with them has been okay. The loan amount had been okay and the interest rate with them had been nominal when compared with the market rate.
      Was this review helpful? 3
      , pune
      Reviewed on Jul 26, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      My experience with HDFC bank for two wheeler loan was good, the loan amount was for Rs 1 lakh with nominal interest rate. The process was smooth and the loan amount was disbursed on time. Customer service was good and they responded on time. The tenure period for this loan is 18 months.
      Was this review helpful? 1
      , gurgaon
      Reviewed on Jul 26, 2018
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    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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