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Indian Bank Two Wheeler Loan

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Two Wheeler Loan
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  • Attractive interest rates
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One of the leading banks in the country, Indian Bank is also a popular provider of a wide range of financial products and services. Indian Bank has been known for offering flawless financial solutions to the people of India, since it came into existence in the year 1907, as a part of the Swadeshi movement. Trusted by millions, the Bank boasts of a wide customer base, especially due to its credibility, swift service, innovative features and quick disbursal of loans. The bank’s strong network is well distributed across the country, and is served by thousands of competent staff.

Two Wheeler Loans from Indian Bank:

Indian Bank offers financial assistance to people for buying a new two wheeler (also new or old four wheeler) under its IB Vehicle Loan Scheme. Owning a two wheeler comes with the promise of being convenient, cost effective, hassle-free commute, time saving and low maintenance. Whether you are buying a two wheeler to take care of your daily commute or out of your passion for biking, you can avail an IB vehicle loan at affordable interest rates to buy your own vehicle.

Also Read: Two Wheeler Insurance.

Features and Benefits of Indian Bank Bike Loan:

  • Loan can be availed for purchase of new two wheeler, old (not more than 3 years old) or new four wheeler.
  • The target group of this loan scheme are salaried individuals, professionals, businessmen, self-employed people, staff of Indian Bank, NRIs and Pensioners.
  • Maximum amount of loan for two wheelers is Rs. 10 lakhs.
  • The loan margin is 15% for a new vehicle.
  • The loan repayment period stretches up to a maximum of 60 EMIs (no holiday period).

Perfect Personal Loan Deals for you

Indian Bank Bike Loan Eligibility

  • The applicant can be either of the one - salaried individuals, professionals, businessmen, self-employed people, staff of Indian Bank, NRIs and Pensioners.
  • Applicants can also be employees of other banks, but they need a NOC from their employer, with minimum 3 years’ service/experience proof.

Know About:

Documentation from Indian Bank Bike Finance:

  • Duly filled loan application form
  • Proof of Identity - Voter’s ID/Passport/PAN card, Driving License.
  • Applicant’s passport size photograph
  • Income Tax Returns form of the last 3 years only if applicable.
  • Proof of residence. This can include Telephone Bill, Electricity Bill, Passport, and Voter’s ID card.
  • Proof of address of business, only for businessmen.
  • Salary Slips
  • Proof of other income. Also includes, house rent or interest on investment
  • Quotation for vehicle (for which the loan is being availed) from the authorized dealer.

Indian Bank Bike Loan Interest Rate:

IB Vehicle Loan Scheme has extremely practical and affordable interest rates. Please contact your nearest branch for more clarity on the same.

Frequently Asked Questions (FAQs)

  1. Does Indian Bank vehicle loan come with a processing fee charge?

    Yes, it is 0.228% of the loan amount or a maximum of Rs. 10,146.

  2. Do I need to hypothecate my two wheeler?

    Yes, the two wheeler for which the IB vehicle loan has been availed needs to be hypothecated to the bank, as security.

  3. Can IB Vehicle Loan be used to purchase only two wheelers?

    No, you can avail this loan to purchase new two wheelers or new/old four wheeler which isn’t more than 3 years old.

  4. Can I use IB Vehicle Loan to purchase a second hand two wheeler?

    No, this loan scheme is not eligible for purchase of second hand two wheelers.

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Indian Bank Two Wheeler Loan Reviews

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  • review Two Wheeler Loan
    "Best service"
    0.5 5.0/5 "Blown Away!"
    I had taken a Two wheeler loan with Indian bank.The loan amount is 30,000.I have no rate of interest to process the loan.I have no processing fees.I pay my EMI directly at then branch.I had closed the EMI long back. More than all service is very good with INDIAN Bank.
    Was this review helpful? 2
    , chennai
    Reviewed on Feb 02, 2018
  • review
    review Two Wheeler Loan
    "Best banking "
    0.5 5.0/5 "Blown Away!"
    I have taken a Two wheeler loan with Indian Bank.The loan amount is 16,000.The rate of interest is nominal as compared to others.I was holding the loan for last six years now its closed.The tenure is for two years,no processing fees for this loan.
    Was this review helpful? 0
    , chennai
    Reviewed on Dec 19, 2017
  • review Two Wheeler Loan
    "Faster service"
    0.5 5.0/5 "Blown Away!"
    I have completed 6 months on my two wheeler loan. The payment of Rs.2500/M is debited from my salary account. They have offered me 16L. The rate of interest was happy. It was a faster process and the loan was on time. They took only 2 days for the disbursement. My documents are submitted directly to the branch. The overall service is good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Oct 27, 2017
  • review Two Wheeler Loan
    "Not good.."
    0.5 3.0/5 "Satisfactory"
    I have taken two wheeler loan from Indian bank. My experience was not good on that time. It was last 8 years old loan. Quiet difficult to avail loan from them because they have lots of procedure but based on my saving account I got it. Charges are higher side.
    Was this review helpful? 3
    , salem
    Reviewed on Mar 10, 2016
  • review Two Wheeler Loan
    "Good one"
    0.5 5.0/5 "Blown Away!"
    INDIAN Bank two wheeler loan is good. I am holding this two wheeler loan for a period of one year since Feb 2014 September. No additional charges being charged. I have approached them as I hold a salary account with them through my office its an ongoing loan . I am getting statements from them regularly through online.
    Was this review helpful? 7
    , chennai
    Reviewed on Sep 29, 2015
  • review Two Wheeler Loan
    "Caring customer service"
    0.5 5.0/5 "Blown Away!"
    Without any issues, they had processed two wheeler loan inspite of not having any prior relationship with this bank. Customer executives explain all the procedure, formalities in detail and taking care. Through on line, I do transfer for monthly payments. I can utilize net banking for all the purposes.
    Was this review helpful? 4
    , chennai
    Reviewed on Aug 22, 2014
  • review Two Wheeler Loan
    "Fully Satisfied with Service"
    0.5 5.0/5 "Blown Away!"
    Indian Bank Two wheeler service is great, best part is EMI payment is flexible, customer service is really good they encourage a lot and give respect to me for any help i needed, interest rate was good as per market value i got, their was no processing fee and extra charges, overall i am fully satisfied.
    Was this review helpful? 2
    , pune
    Reviewed on Jul 05, 2014
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