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HDFC Two wheeler Loan Interest Rate

Current HDFC Bank Bike Loan Interest Rate 2021

Last Updated 07th Oct 2021

Interest Rates 14.50%
Maximum Loan Amount Eligibility 85% of On Road Price
Maximum Loan Tenure 4 years
Lowest EMI per ₹ Ten Thousand Loan Amount ₹ 276
Processing Fee 3% of Loan Amount with Minimum ₹ 600
Prepayment Charges 3%-10%, after 3 EMIs
Interest Calculation EMI on a monthly reducing balance
Age Between 21 years and 65 years
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HDFC Bike Loan Interest Rates

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

  • Salary - Higher salary bracket individuals are offered loans at lower interest rates. HDFC 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. HDFC 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 - HDFC 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 – HDFC Bank offers special rates, offers and charges to the salary account holders of the bank. Those who have managed their accounts low HDFC Bank 2 wheeler interest rate.

HDFC Two wheeler Loan Eligibility

Eligibility of 2 wheeler loan in HDFC 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. HDFC 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: HDFC Bank bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. HDFC Bank asks for net monthly income of ₹ 7,000 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.

HDFC Two wheeler Loan EMI

Two wheeler Loan EMI of HDFC 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 HDFC Bank is ₹ 276 per ten thousand loan amount at lowest two wheeler loan interest rate of 14.50%. HDFC Bank bike loan EMI calculator depends on factors like:

  • Auto Loan HDFC 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

HDFC 2 Wheeler Loan Apply

HDFC 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 HDFC Bank:

  • Convenient and hassle free process
  • Speedy loan approval
  • Competitive pricing

Documents Required for HDFC 2 wheeler Loan

Two wheeler loan HDFC 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 HDFC 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 HDFC Bank on two wheeler loan?

HDFC Bank bike loan interest rates today are 14.50% to 25.97%.

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

If you apply for a 2 wheeler loan from HDFC Bank, your lowest EMI for ten thousand amount will be ₹ 276.

What is the maximum tenure of HDFC bike loan?

You can repay your bike loan from HDFC Bank in a flexible period of maximum 4 years.

How much auto loan I can borrow from HDFC Bank?

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

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

HDFC Bank charge a processing fee of 3% of Loan Amount with Minimum ₹ 600 with applicable service tax.

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

Yes, age is an important eligibility factor to get HDFC 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 HDFC Bank two wheeler loan?

You can foreclose your two wheeler loan from HDFC Bank with 3%-10%, after 3 EMIs.


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HDFC Two Wheeler Loan News - Oct 2021
  • 2021-10-05 : HDFC Bank Reports Growth in Advances in Q2
    HDFC Bank has reported a growth in advances by 15.4% in quarter 2. As a result, the advances have grown to ₹ 11.98 lakh crore as of September 30, 2021, from ₹ 10.38 lakh crore a year ago.
  • 2021-08-13 : HDFC Bank presents Festive Offer
    HDFC Bank is offering various offers on the occasion of the Onam festival in Kerela. It is offering benefits on a car loan, two-wheeler loan, home loan, business loans, gold Loan, Loan against Securities and Loan against the property. Also, HDFC debit cards and credit cardholders will also get cashback and discounts. This offer is valid till September 30, 2021.
  • 2021-07-08 : HDFC Bank loan growth hit amidst covid-19 pandemic
    Private lender HDFC Bank numbers for the June quarter showed loan growth moderation and contraction in its retail credit book. The bank slowed its retail disbursements which were down 30% sequentially, reflecting the impact of the second Covid wave. The continued weakness in the retail segment led to retail segment share in total loans that include Personal Loan, Home Loan, Loan Against Property, Business Loan, Gold Loan, Two-wheeler Loan, Car Loan, Education Loan and Top-up Loan slipping down to 45% from 47% in June quarter last year.
  • 2021-06-21 : HDFC Bank to refund GPS device charges to customers
    India’s largest private-sector lender, HDFC Bank Ltd, on Thursday said that it will refund commissions to auto loan customers who had availed of a bundled GPS device between FY14 and FY20. HDFC Bank executives pushed auto loan customers to buy GPS devices for ₹18,000-19,500 from 2015 to December 2019. The device in question was sold by Trackpoint GPS, a Mumbai-based firm.
  • 2021-05-28 : HDFC Bank commits Rs 100 cr towards COVID relief in FY22
    HDFC Bank committed Rs 100 crore for setting up medical infrastructure for COVID-19 relief in 2021-22. The bank is planning to set up 20 oxygen plants in hospitals besides three 100-bed COVID care facilities as part of the plan.
*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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