HDFC Two wheeler Loan Interest Rate

Last Updated 08th Jan 2020

HDFC Bank Two wheeler Loan Interest Rates India Jan 2020

Interest Rates 14.03%
Maximum Loan Amount Eligibility 85% of On Road Price
Maximum Loan Tenure 4 years
Lowest EMI per Rs. Ten Thousand Loan Amount ₹ 273
Processing Fee 3% of Loan Amount with Minimum Rs. 600
Prepayment Charges 3%-10%, after 3 EMIs
Interest Calculation EMI on a monthly reducing balance
Age Between 21 years and 65 years
Apply for Two Wheeler Loan @ 10.00%*
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HDFC Bank Two wheeler Loan

HDFC Auto 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.
Compare Two Wheeler Loan Rates of All Banks in India

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 Rs. 273 per ten thousand loan amount at lowest two wheeler loan interest rate of 14.03%. 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

Compare Bike Loan Interest Rates of HDFC with other banks

Frequently Asked Questions on HDFC Bank Two wheeler Loan

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

HDFC Bank bike loan interest rates today are 14.03% to 27.53%.

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 ₹ 273.

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 Rs. 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.

COMPARE Two Wheeler Loan DETAILS OF BANKS
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HDFC Two Wheeler Loan News - Jan 2020
  • 2019-03-14 : Kia Motors India signs MoU with eight leading financial institutes
    Kia Motors India has announced its partnership with eight financial institutes to offer financial services to its stakeholders in India. The company has signed a Memorandum of Understanding (MoU) with State Bank of India, Bank of Baroda, Axis Bank, HDFC Bank, ICICI Bank, Yes Bank, Kotak Prime and Mahindra and Mahindra Financial Services Limited. The partnerships will let Kia offer term loans, inventory funding and other credit solutions to customers at competitive interest rates and flexible loan tenures.
  • 2018-12-13 : HDFC Bank introduces step up car loans
    Due to the decline in its auto loan growth, HDFC Bank has recently introduced a new scheme of step-up repayment in its auto loans that will help to expand its existing auto loan base. Under this scheme, the bank is providing the option of bullet repayments also in which both principal and interest of the loan are to be paid at one go.
  • 2018-06-28 : HDFC Bank aims to accelerate 2-wheeler loan growth to 25%
    HDFC Bank plans to accelerate two-wheeler loan growth to nearly 25% in the current fiscal year. It became the first lender to finance nearly 12 lakh two-wheelers in a single year with improved focus on sourcing loans through digital means. The bank is now aiming to finance another 13.5 lakh two-wheelers at the end of the current fiscal year.
  • 2018-01-24 : Two-wheeler financing picking top-gear
    Buoyant rural demand has scaled up the sales of motorcycles and scooters in FY17-18, after a decade of slow growth. HDFC Bank reported growth around 18-20% The bank is all set for 1.2 million disbursals by the end of this financial year.
  • 2017-09-21 : Triumph Motorcycles announces to offer a seven year loan on bikes through a tie up with HDFC Bank
    British motorcycle maker, Triumph Motorcycles has announced to offer a seven year loan on bikes in association with HDFC Bank. Under the scheme, two wheeler loans will be offered at an interest rate of 11.5 per cent. Earlier, the company was offering this loan scheme only for a couple of high-end models, but now the scheme is applicable for all the models across its range.
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