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  • ICICI Two Wheeler Loan

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    Two Wheeler Loan
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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%.

    Perfect Personal Loan Deals for you

    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 : Two Wheeler Insurance Online.

    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.

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    ICICI Two Wheeler Loan Reviews

  • Page 1 of 8 1 2 3 4 5
    • ICICI Two Wheeler Loan
      "Good"
      ICICI BANK
      0.5 4.0/5 "Great!"
      My two wheeler loan was taken with ICICI bank 6 years back. The loan amount was65,000 and the interest rate was satisfactory . The tenure period was 18 months. The customer service and responses was up to the mark.I had a good experience here.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 13, 2018
    • ICICI Two Wheeler Loan
      "Supportive services"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      ICICI Bank has also offered me a two wheeler loan and the process for this loan was excellent. It was approve in a day. I wanted this bike loan on my sons birthday as a gift and as planned I got it. I am happy with the banks process and supportive services.
      Was this review helpful? 2
      , greater noida
      Reviewed on Aug 09, 2018
    • ICICI Two Wheeler Loan
      "Good service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with ICICI bank and my experience was good, the loan amount was for Rs 40000 with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. I have to pay an EMI for 36 months.
      Was this review helpful? 1
      , lucknow
      Reviewed on Jul 10, 2018
    • ICICI Two Wheeler Loan
      "Average service"
      ICICI BANK
      0.5 2.0/5 "Expected more"
      I had taken a Two wheeler loan with ICICI bank 12-13 years back and it was an average experience. The loan amount was for Rs 25000 with nominal interest rate when compared to other banks. The processing charges were high at that time and the customer service was not up to the mark.
      Was this review helpful? 0
      , karad
      Reviewed on Jul 05, 2018
    • ICICI Two Wheeler Loan
      "Good Service"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I took a Bike loan from the ICICI bank for 65000, I applied at the showroom, The whole process was okay. 3 hours . The service is good. The processed the loan instantly with minimal documentations. So far it has been a good experience considering the bike loan from the ICICI bank.
      Was this review helpful? 0
      , rewa
      Reviewed on Jun 25, 2018
    • ICICI Two Wheeler Loan
      "Good Service"
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      I took a bike loan from the ICICI bank which was for INR 8000 for purchasing my Royal Enfield Bullet. The loan was applied from the show room. The loan was approved with in 10 days but there was a delay in delivering the bike from the showroom which is common when it comes to bullet.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 21, 2018
    • ICICI Two Wheeler Loan
      "Average service"
      ICICI BANK
      0.5 3.5/5 "Pretty good"
      My experience with ICICI bank for two wheeler loan was good, the process was quick and i received my loan amount on time. The tenure period for this loan is 18 months and the rate of interest was bit high when compared to other banks. Customer service was not up to the mark with ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on May 20, 2018
    • ICICI Two Wheeler Loan
      "Good service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I got the two wheeler loan from the ICICI bank around 5 years ago and I have closed it, I have got good experience from the ICICI bank, but the lending policy of the bank need to be customer oriented. The rate of interest and the charges are average here.
      Was this review helpful? 0
      , mysore
      Reviewed on May 16, 2018
    • ICICI Two Wheeler Loan
      "Good Service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I took a two wheeler loan from ICICI bank. The whole process took a day or two. The agent managed to get the documentation done very fast. Overall the experience was really good. I never had any issues with their service. The interest rate were also comparatively good.
      Was this review helpful? 0
      , pune
      Reviewed on May 11, 2018
    • ICICI Two Wheeler Loan
      "Average loan"
      ICICI BANK
      0.5 3.0/5 "Satisfactory"
      The Two Wheller which I have purchased through ICICI bank is bajaj bike the loan amount is good were the expected amount is provided The cost was under the show room rate the loan is now closed completely I took the bike through the festival offer the insurance coverage everything is good with ICICI bank.
      Was this review helpful? 0
      , chennai
      Reviewed on May 03, 2018
    • ICICI Two Wheeler Loan
      "ICICI BANK Two Wheeler Loan"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from ICICI bank and the approved loan amount is 35000. The rate of interest was nominal and the monthly EMI comes around 2000. The tenure was for 1 year. The approval was very quick and the documentation process was simple.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 18, 2018
    • ICICI Two Wheeler Loan
      "Best Service"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with ICICI bank and my loan experience was good, the loan amount was for Rs 32000 with nominal interest rate when compared to other banks. Customer service was good and they collected documents on time. The tenure period of this loan is 24 months.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 06, 2018
    • ICICI Two Wheeler Loan
      "good experience"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I had applied and got a Two wheeler insurance form top most Private sector bank ICICI. I didn't have any claim experience so i cant able to comment on it. My annual premium amount for Two wheeler insurance is Rs. 1100/- which is very affordable by comparing with other insurance polices.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 03, 2018
    • ICICI Two Wheeler Loan
      "Need scope of improvement"
      ICICI BANK
      0.5 3.0/5 "Satisfactory"
      The moment I close my loan, they took three working they provide NOC. I done process through online but their post process was dissatisfied, they should work on it. Even for the NOC certificate I paid some fee and to cancel the hypothetical I took lot of follow up.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 27, 2018
    • ICICI Two Wheeler Loan
      "ICICI bank two wheeler loan"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan from ICICI bank and the approved loan amount was 50000. The rate of interest was nominal. The monthly EMI comes around 2000 for a tenure of 3 years. The process was quiet good and simple. The customer service and response is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 13, 2018
    • ICICI Two Wheeler Loan
      "Best service"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a Two wheeler loan with ICICI bank and my loan experience was very good. The loan amount was for Rs 35000 with the nominal rate of interest when compared to all other banks. Customer service was good and they followed up on time. The process was very smooth and the tenure of this loan is 36 months.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Feb 01, 2018
    • ICICI Two Wheeler Loan
      "Good experience for a first time"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I had closed my two wheeler loan with the ICICI Bank by last year. It was a good experience. The rate of interest was satisfactory. I have purchased ACTIVA. The preclosure is not applicable for the two wheeler loan. The loan disbursement was on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 27, 2018
    • ICICI Two Wheeler Loan
      "Good"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I have closed the two wheeler loan with the ICICI bank and the response is good too. Rate of interest is good one for me and the loan amount got disbursed. Everything is better one with the ICICI bank and am really happy with them till now.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 27, 2018
    • ICICI Two Wheeler Loan
      "Good service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with ICICI bank , my loan experience was very good with ICICI bank. The loan amount was around Rs 40000-50000 with the nominal rate of interest when compared to other banks. The process was quick and i received my loan amount on time. Customer service was good, they followed up on time and the tenure of this loan is 2 years.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 25, 2018
    • ICICI Two Wheeler Loan
      "Need improveement"
      ICICI BANK
      0.5 2.0/5 "Expected more"
      I have got the Two wheeler loan from ICICI BANK around 9years ago. The customer support was average with the ICICI BANK. The response was not up to the mark with the ICICI BANK. The rate of interest and the charges were high with the ICICI BANK and they never gave me the NOC yet.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 18, 2018
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