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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.

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Essential Two Wheeler Loan Pages
Two Wheeler Loan by Banks
Two Wheeler Loan Articles

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ICICI Two Wheeler Loan Reviews

Page 1 of 10 1 2 3 4 5
  • 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
    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
  • ICICI Two Wheeler Loan
    "Good service"
    ICICI BANK
    0.5 4.0/5 "Great!"
    I applied for two wheeler loan with ICICI bank from past one year, i got loan based on the bike price like after giving down payments they have given me loan, i have taken TVS apache bike through showroom itself i got loan, the rate of interest they have charged me was high, it was up to 12.99% which i felt was high.
    Was this review helpful? 2
    , new delhi
    Reviewed on Apr 30, 2019
  • ICICI Two Wheeler Loan
    "Response should be improved"
    ICICI BANK
    0.5 2.5/5 "Just OK"
    Few years back I took the two wheeler loan from ICICI, the loan person got tie up this bank I had only that option. I think the process is simpler but NOC paper yet to get I closed it a year back. They suppose to send the paper through courier it was not got deliver to my address. I don't have time to raise the complain. I purchased Royal enfield thunder bird bike.
    Was this review helpful? 1
    , bangalore
    Reviewed on Apr 23, 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 a long time back and the loan was closed three years back. Where the experience i had was quite good. The charges which they had made has been nominal and the interest rate with the loan has been on the lower end.
    Was this review helpful? 1
    , indore
    Reviewed on Apr 12, 2019
  • ICICI Two Wheeler Loan
    "Interest rate is higher"
    ICICI BANK
    0.5 4.0/5 "Great!"
    Honda show room has tie up with ICICI bank . So my procedure has been taken care by the showroom . It was a fast process .Two wheeler loan sanctioned within 48 hours of time and Bike delivered within 1 week . But the interest rate of 14 % , I felt little higher .
    Was this review helpful? 3
    , thrissur
    Reviewed on Mar 28, 2019
  • ICICI Two Wheeler Loan
    "Very Good Service"
    ICICI BANK
    0.5 4.5/5 "Excellent!"
    I had taken this Two wheeler loan a long time back and the process in getting the loan was pretty much good. The loan amount, the interest rate and the charges with them had all been good and there was no difficulty which i had faced with the banking services offered by them so far.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 22, 2019
  • ICICI Two Wheeler Loan
    "Excellent"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I had a two wheeler loan with ICICI BANK and its been excellent. I have purchased passion pro bike and the loan process was very simple. The interest rate was good one. I have closed the loan and did not receive the NOC letter yet which have to apply.
    Was this review helpful? 0
    , bangalore
    Reviewed on Mar 19, 2019
  • ICICI Two Wheeler Loan
    "Best service "
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have taken a two wheeler loan from ICICI bank and it was a good experience, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is sufficient .
    Was this review helpful? 1
    , new delhi
    Reviewed on Mar 07, 2019
  • ICICI Two Wheeler Loan
    "Satisfactory"
    ICICI BANK
    0.5 4.5/5 "Excellent!"
    My two wheeler loan is with ICICI Bank and the customer support is good. I got the loan on time. The rate of interest and processing charges is normal. The after loan services are also good. There were no hassle with the documentation too. Good in all.
    Was this review helpful? 1
    , bangalore
    Reviewed on Mar 02, 2019
  • ICICI Two Wheeler Loan
    "Easily available loan"
    ICICI BANK
    0.5 4.0/5 "Great!"
    The interest rates are high and if come to know how the customer negotiate with the bank then they will reduce the same for the two wheeler loan. Long back i got the loan from ICICI Bank since its easily available. The process is pretty good compared to others. The bank is so customer friendly.
    Was this review helpful? 2
    , secunderabad
    Reviewed on Feb 27, 2019
  • ICICI Two Wheeler Loan
    "Excellent service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I had been holding previously Two wheeler loan with ICICI bank ,now recently i have closed this loan,They have given me sufficient loan amount based on my requirement,and it is pre-approval loan, so i got loan quick, and the rate of interest they have charged me was nominal,and even processing fee they have charged me was nominal.
    Was this review helpful? 0
    , new delhi
    Reviewed on Feb 25, 2019
  • ICICI Two Wheeler Loan
    "Best Service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    My personal loan experience was good with ICICI bank, the loan amount was sufficient and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is for 36 months.
    Was this review helpful? 3
    , bhubaneshwar
    Reviewed on Jan 25, 2019
  • ICICI Two Wheeler Loan
    "Good service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I took two wheeler loan from ICICI bank 15 years back, the process was smooth and i received my loan amount on time. Rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is for 3 years.
    Was this review helpful? 2
    , pune
    Reviewed on Jan 23, 2019
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