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Indian Bank Two wheeler Loan Interest Rate

Current Indian Bank Two wheeler Loan Interest Rates India Jun 2021

Last Updated 03rd Jun 2021

Interest Rates 10.35%
Maximum Loan Amount Eligibility 85% of On Road Price
Maximum Loan Tenure 5 years
Lowest EMI per ₹ Ten Thousand Loan Amount ₹ 214
Processing Fee 3% of Loan Amount
Prepayment Charges Nil charges
Interest Calculation EMI on a monthly reducing balance
Age Between 21 years and 65 years
Apply for Two Wheeler Loan @ 11.60%*

Indian Bank Two wheeler Loan

Indian Bank Bike Loan Interest Rates

Indian Bank bike loan Interest rate calculator works on various inputs like:

  • Salary - Higher salary bracket individuals are offered loans at lower interest rates. Indian Bank auto loan rate varies with your net monthly income.
  • Employer category – Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. Indian Bank has a list of company categories of salaried individuals to which they avail two wheeler loans. So, higher company category leads to low rate of interest.
  • Type of two wheeler - Indian Bank interest rate depends upon the type of bike you want to buy. If you have applied loan for a high value two wheeler, then the bank offer low interest rate on your two wheeler.
  • Relationship with the Bank – Indian Bank offers special rates, offers and charges to the salary account holders of the bank. Those who have managed their accounts low Indian Bank 2 wheeler interest rate.

Indian Bank Two wheeler Loan Eligibility

Eligibility of 2 wheeler loan in Indian Bank relies upon different factors but the most important factor is your ability to repay the loan. Two wheeler loan calculator calculates eligibility of an applicant depending upon various factors like

  • Age: Age plays an important role to know your eligibility and repayment capacity. Indian Bank offers two wheeler loan to individuals who are atleast 21 years old at the time of loan approval and maximum 65 years at the time of loan maturity.
  • Income: Indian Bank bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. Indian Bank asks for net monthly income of ₹ 20,000 from salaried professionals.
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your two wheeler loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your two wheeler loan eligibility.

Indian Bank Two wheeler Loan EMI

Two wheeler Loan EMI of Indian Bank is a fixed amount that you pay each month towards the repayment of your bike loan till the end of tenure. Lowest EMI offered by Indian Bank is ₹ 214 per ten thousand loan amount at lowest two wheeler loan interest rate of 10.35%. Indian Bank bike loan EMI calculator depends on factors like:

  • Auto Loan Indian Bank interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
  • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
  • Two wheeler loan EMI calculation varies from bank to bank depending upon the method of calculation

Indian Bank 2 Wheeler Loan Apply

Indian Bank gives the facility of bike loan to the people who want to fulfil their dream of having their own 2 wheeler. There are some features and benefits of taking auto loan from Indian Bank:

  • Quick processing with easy approval
  • Competitive pricing
  • Flexible repayment options

Documents Required for Indian Bank 2 wheeler Loan

Two wheeler loan Indian Bank documents for salaried employees

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months pay slip, bank statement of 3 months showing salary credit and any EMI debit

Two wheeler loan Indian Bank documents for Self-Employed

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Last 2 years ITR
  • Business existence proof such as VAT/ service tax registration, business address proof, incorporation details in case of companies

FAQs

How much interest is charged by Indian Bank on two wheeler loan?

Indian Bank bike loan interest rates today are 10.35% to 10.50%.

What is the lowest EMI for ten thousand amount on Indian Bank two wheeler loan?

If you apply for a 2 wheeler loan from Indian Bank, your lowest EMI for ten thousand amount will be ₹ 214.

What is the maximum tenure of Indian Bank bike loan?

You can repay your bike loan from Indian Bank in a flexible period of maximum 5 years.

How much auto loan I can borrow from Indian Bank?

Indian Bank offers you 85% of On Road Price of two wheeler as loan.

How much processing fee is charged by Indian Bank on bike loan?

Indian Bank charge a processing fee of 3% of Loan Amount with applicable service tax.

Is age an eligibility factor to get two wheeler loan from Indian Bank?

Yes, age is an important eligibility factor to get Indian Bank two wheeler loan as you should be at least 21 years old at loan approval time and 65 years old at loan maturity time.

Are there any prepayment charges on Indian Bank two wheeler loan?

You can foreclose your two wheeler loan from Indian Bank with Nil charges.


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Indian Bank Two Wheeler Loan News - Jun 2021
  • 2021-06-01 : Indian Bank reported a Q4 profit of 1,709-cr
    Indian Bank reported a net profit of Rs 1,708.85 crore in the March-ended quarter. Total income during the January-March quarter of 2020-21 increased to Rs 10,647.87 crore. It was Rs 6,334.37 crore in the same period of 2019-20. The net profit of the bank backed by retail loan like home, LAP, personal, two-wheeler, car education and doctor loan along business and mudra loan was recorded at Rs 3,004.68 crore.
  • 2020-10-16 : Indian Bank sets up a portal to restructure retail loans
    Indian Bank launched a digital platform for restructuring all retail loan including home, personal, car, two-wheeler, and gold loans. The portal will allow the borrowers to submit recast requests on the portal and check eligibility criteria.
  • 2020-08-17 : Indian Bank Q1FY21 PAT at Rs. 369.26 crore
    Indian Bank has posted a net profit of Rs.369.26 crores for the period ended June 30, 2020, as against a net profit of Rs. 217.73 crores for the period ended March 31, 2020. In addition to this, the Bank reported a total income of Rs.11446.71 crores aided by retail loans like home, personal, car, two-wheeler.
  • 2020-06-23 : Indian bank reported an increase of 134% net profit
    Public sector lender Indian Bank reported an increase in a net loss in the 4th quarter of FY20 however, its net profit zoomed 134% for the full year on the back of the personal, home, car, two-wheeler, business, mudra, gold, education loans. The bank also reported an improvement in its asset quality.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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