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ICICI Two Wheeler Loan

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Two Wheeler Loan
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  • Attractive interest rates
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ICICI Bank Two Wheeler Loan:

In the present market, ICICI has earned the top position as India's largest private sector bank as of March of 2015. A bank that started its journey in 1994 as a financial institution solely focusing on project finance, has since branched out to providing an array of products and services, directly as well as through its subsidiaries and affiliates. ICICI is also the first bank and the first Indian company from Non - Japan Asia which is listed on the NYSE. The bank's total assets as of March 3, 2015 is Rs. 6, 461, 29 billion or US $103 billion. The bank holds a strong network of more than 4000 branches and over 13,000 ATMs in India alone. ICICI is also decorated with several awards, including winning 7 awards at 'National Award for Excellence in Energy Management 2015' that was organized by the CII (Confederation of Indian Industry).

Why Two Wheeler Loans Are Necessary Today:

With the rapidly changing lifestyles of people in the present world, there is a drastic change in the needs and demands of people. We live in a world today where luxury is the new necessity of life. Owning your own vehicle has become that necessity. We no longer want to travel according to someone else's schedule, we want our own vehicle so we can travel according to our time and need without being dependent on anybody else. Today, many have a preference of two wheelers over four wheelers, one of the most important reasons for this is the traffic in our country. With the increase in the population and purchase capacity of people, Indian roads are now flooded with vehicles causing massive traffic jams. Under such circumstances, people prefer opting for two wheelers to beat this traffic and get to their destinations much faster because they can squeeze into any lanes, can be parked with minimal space and are cheaper than other vehicles. Even though we see two wheelers as a necessity today, not everyone can afford it in on their own. Some of us need financial support to purchase it. Due to the increase in demand of two wheelers, loans for them are also increasingly becoming important so it becomes affordable to the masses. Having realized this necessity, many leading banks in the country are today offering Two Wheeler Loans at low interest rates, ICICI bank is popular among them.

Also Read: Two Wheeler Insurance.

ICICI Two Wheeler Loan Interest Rate:

ICICI bank provides specific interest rates for Two Wheeler Loans to customers that are determined using several factors, some of them are as follows -

  1. Customer Profile
  2. Customer Relationship
  3. Asset Segment
  4. Loan Tenure and many more
  • As of March, 2013, the interest rate for Two Wheeler Loans has been fixed at 12.50%.

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Two Wheeler Loan Interest Rate Range -

June 2015 Quarter End

Min.

Max.

Mean

Two Wheeler Loan

11 percent

14.50 percent

12.07 percent

Note :

  • The above values have been determined according to the loans provided in the first Quarter of the financial year of 2015 - 2016.
  • The values are inclusive of the fixed interest rates that were determined using the factors discussed in the previous section.
  • The values mentioned above exclude govt. schemes and subsidies.
  • Mean rate is calculated in the following way - Sum of the interest rate of all loan accounts / No. of all loan accounts.

You May Like To Read : .

Annual Percentage Rate (APR)

APR is a method that helps to compute the annul credit cost that includes the loan origination fee and the interest rate. You can calculate the APR for your loan by downloading the APR calculator available on the official ICICI bank page.

Fees and Charges:

Charge for Additional Documentation

Rs. 350

Charge for Amortisation Schedule 

Rs. 200 per schedule

Late Payment Charge

2 percent per month will be charged on the outstanding amount

Charge for cheque return

Rs. 200 for each cheque return

Charge for cheque swap

Rs. 500 for each transaction

Charge for Duplicate NOC

Rs. 200 for each NOC

Charge for Prepayment Statement

Rs. 100 for each statement

Charge for Revalidation of NOC

Rs. 200 for each NOC

Charge for Statement of Account

Rs. 200 for each statement

Processing Fee for the Loan (Non Refundable)

0.25%

Prepayment Option

Part prepayment for the loan is not allowed

Note:

  • The following charges may be applied over and above the aforementioned rates - Service Tax, Other govt. tax, levies etc. These charges are applied as per the discretion of the bank.
  • Interest Reset Clause is not applicable on Two Wheeler Loans

IMPORTANT - Presently, Two Wheeler Loans are only offered on Harley Davidson Models.

ICICI Two Wheeler Loan FAQs:

  1. What factors will be taken into account while determining what interest rate I will receive for my Two Wheeler Loan?
  2. The interest rates are determined after careful evaluation of your customer profile that will include but not restricted to - your loan tenure, your customer relationship, your asset segment and several other factors. Currently, the interest rate for a Two Wheeler Loan is faxed at 12.50%.

  3. If I want to end my loan tenure earlier than the agreed upon date, what are my prepayment options?
  4. In case you want to pay off your loan earlier than the mutually agreed upon date, you will have to pay the full prepayment amount at once for your Two Wheeler Loan. There is no option for part prepayment of your loan.

  5. How can I calculate the Annual Percentage Rate for my Two Wheeler Loan?
  6. You can download the APR Calculator that is available on the official ICICI website and calculate the APR for your Two Wheeler Loan.

  7. Will I be charged a fee for any additional documentation?
  8. Yes. You will be charged Rs. 350 extra for any additional documentation.

  9. What is the Interest Reset Clause on the ICICI Two Wheeler Loan?
  10. Currently, the Interest Reset Clause is not applicable on the Two Wheeler Loan offered by ICICI Bank.

Essential Two Wheeler Loan Pages
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ICICI Two Wheeler Loan Reviews

Page 1 of 10 1 2 3 4 5
  • ICICI Two Wheeler Loan
    "Good"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    From ICICI bank I have taken two wheeler loan on one year before which was applied for this loan through showroom. The amount which was given for 40 thousands for the tenure period of 1 year. The rate of interest was nominal. The bike model was Bajaj.
    Was this review helpful? 1
    , goa
    Reviewed on Oct 05, 2019
  • ICICI
    ICICI Two Wheeler Loan
    "Best service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    Previously i had a two wheeler loan from ICICI bank and i have cleared all my EMIs by last month only. At the time, the loan was best for me since the processing fee is less and interest rate is appropriate for me. I have chosen the duration of 2 years and they have approved the loan within 3 days.
    Was this review helpful? 2
    , vadodara
    Reviewed on Sep 25, 2019
  • ICICI Two Wheeler Loan
    "First loan with ICICI"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    Very long back, i bought the two wheeler loan from ICICI. It was 6 to 8 months installment loan and there was no interest rate and they have charged me a file charges of Rs. 1500. I have made the down payment of 20 to 30% value of the vehicle. They have sanctioned the loan immediately.
    Was this review helpful? 1
    , chandigarh
    Reviewed on Aug 17, 2019
  • ICICI Two Wheeler Loan
    "Good"
    ICICI BANK
    0.5 4.0/5 "Great!"
    I took my two wheeler loan with ICICI BANK since its my salary account bank. The rate of interest was reasonable. I am still paying the premium and the total tenure is 2 years. The processing fee is not applicable. I made down payment of 12K to purchase Bajaj CT 100.
    Was this review helpful? 0
    , mumbai
    Reviewed on Aug 07, 2019
  • ICICI Two Wheeler Loan
    "interest rate should be reduced"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have purchased Honda Activa Bike before 1.5 years with the help of ICICI BANK. It was referred by friend and the loan was sanctioned as per time frame. The interest rate is little bit higher but its okay. The processing fee is Rs.500 for the loan amount of 82K.
    Was this review helpful? 4
    , chennai
    Reviewed on Jul 23, 2019
  • ICICI Two Wheeler Loan
    "Quite Good service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    In 2016, i took the ICICI loan which is a purchase of my bike. I'm not satisfied with their repayment process and when my cheque got bounced they have charged me a huge amount of Rs. 500 being a good client sometimes it happened. I am having account with ICICI hence i have chosen them.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jul 13, 2019
  • ICICI Two Wheeler Loan
    "EXCELLENT"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I am using the two wheeler loan from since from last 18 months, the documentation process was easy and i got the loan within 2-3 days, there was a processing fee. The loan amount given was good also there was a down payment of 25000 rupees. The rate of interest was 3000 rupees per monthly.
    Was this review helpful? 1
    , mumbai
    Reviewed on Jul 12, 2019
  • ICICI Two Wheeler Loan
    "Good"
    ICICI BANK
    0.5 4.0/5 "Great!"
    I have selected two wheeler bike Baja platinum cost bike Rs 48,000 down payment Rs 15000, EMI Rs 1800. while document submitted showroom they given clear information about loan process ,Tenure 24 months .Customer service is good and responsive
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 10, 2019
  • ICICI Two Wheeler Loan
    "Good overall"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have taken a two wheeler loan from ICICI Bank. The bank offered me 75% of the loan. The rate of interest and processing charges is normal. The documentation process is easy and I got the card in three to four days. The after loan services is good too.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 06, 2019
  • ICICI Two Wheeler Loan
    "Excellent service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I was holding Two wheeler loan with ICICI bank previously, the loan amount which they have required me was sufficient as per my requirement, that time it was offer of Zero rate of interest and even processing fee was zero, so far they did not charged me any hidden charges. Now i have closed this loan.
    Was this review helpful? 1
    , ghaziabad
    Reviewed on Jun 24, 2019
  • ICICI Two Wheeler Loan
    "Good competitor in the market"
    ICICI BANK
    0.5 4.0/5 "Great!"
    Taken my two wheeler loan from ICICI. Its because of the quick approval i have chosen them. I have applied the loan amount of RS. 30000 and i have taken the loan 4 years back and i have closed it already. I'm not sure about the interest rate. Overall, the services was good in ICICI.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 22, 2019
  • ICICI Two Wheeler Loan
    "Good service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have my two wheeler loan with ICICI BANK . The process of getting loan was good i did not face any issue while getting the loan . The documentation part was also very easy . Rate of interest and processing fee is very nominal . Loan amount is very satisfactory .
    Was this review helpful? 1
    , thane
    Reviewed on Jun 19, 2019
  • ICICI Two Wheeler Loan
    "Good Experience"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    Five months back I took two wheeler loan from ICICI, when I closed the RD account it was necessary to maintain Rs. 10,000 in my women SB account. Hence I am not convenient, so I transfer the two wheeler loan to Axis. I availed the loan amount Rs. 42,000 . ICICI bank is also very good in terms of service.
    Was this review helpful? 1
    , chennai
    Reviewed on Jun 13, 2019
  • ICICI Two Wheeler Loan
    "Good Service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have taken Two wheeler Loan directly through ICICI Bank .The vehicle model was Passion Pro and the loan amount was 65000 for the tenure of 2years.I have got the loan amount on time and it was sufficient as well .The agent gave all the details about the loan process .This loan is still active and submitted the documents .
    Was this review helpful? 0
    , surat
    Reviewed on Jun 07, 2019
  • ICICI Two Wheeler Loan
    "BAD"
    ICICI BANK
    0.5 2.0/5 "Expected more"
    I was selected ICICI two wheeler loan amount 20000 and tenure is 2 years and processing fee chargers is 6500 and Rate interested is very high 24 percentage. I gone t show room submitted documents ,customer service is bad.on time received loan amount.
    Was this review helpful? 0
    , bangalore
    Reviewed on May 29, 2019
  • ICICI Two Wheeler Loan
    "Good"
    ICICI BANK
    0.5 4.0/5 "Great!"
    I was taken a two wheeler loan in ICICI bank for past ten years ago. As per my requirement I received a loan from the bank for the duration of 3 years. The rate of interest was nominal. Fee was applicable and nominal in this bank. Now I have closed the loan.
    Was this review helpful? 0
    , new delhi
    Reviewed on May 25, 2019
  • ICICI Two Wheeler Loan
    "Good Experience"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I closed ICICI two wheeler, everything was took care my motor dealer. I taken Rs. 84,000 to purchase Hero Karishma bike for the duration of 1.5 year. At last I cleared all my dues and I got the NOC, the process and response was very prompt from the bank end.
    Was this review helpful? 0
    , pune
    Reviewed on May 21, 2019
  • ICICI Two Wheeler Loan
    "Excellent Service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I had recently taken my Two Wheeler loan from ICICI Bank and the experience was quite good, the process in getting the loan was easy where it did not took much time. The loan amount was fine and the rate of interest with the loan was quite nominal. The processing fee and charges where also quite normal.
    Was this review helpful? 1
    , bangalore
    Reviewed on May 15, 2019
  • ICICI Two Wheeler Loan
    "Good"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I was holding two wheeler loan with ICICI bank, the loan amount given up to 63 thousands for 14 months. At a verification process was smooth. The rate of interest they have charged me was nominal. even the processing fee charges was minimal of 2500, now i have closed this loan.
    Was this review helpful? 1
    , new delhi
    Reviewed on May 07, 2019
  • ICICI Two Wheeler Loan
    "Very Good Service"
    ICICI BANK
    0.5 4.0/5 "Great!"
    I had taken a Two wheeler loan from ICICI BANK in the year of 2007 and the experience had been quite good. The interest rate and charges where nominal, even their customer support team had been helpful. There was not much difficulty which i had faced through in completing the loan.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Apr 30, 2019
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