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IndusInd Bank Two wheeler Loan Interest Rate

Current IndusInd Bank Bike Loan Interest Rate 2021

Last Updated 25th Jun 2021

Interest Rates 21.00%
Maximum Loan Amount Eligibility 95% of Ex-ShowRoom Price
Maximum Loan Tenure 3 years
Lowest EMI per ₹ Ten Thousand Loan Amount ₹ 377
Processing Fee Nil
Prepayment Charges Min 2% to 5%
Interest Calculation EMI on a monthly reducing balance
Age Between 21 years and 60 years
Apply for Two Wheeler Loan @ 11.60%*

IndusInd Bank Two wheeler Loan

IndusInd Bank Bike Loan Interest Rates

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

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

IndusInd Bank Two wheeler Loan Eligibility

Eligibility of 2 wheeler loan in IndusInd 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. IndusInd Bank offers two wheeler loan to individuals who are atleast 21 years old at the time of loan approval and maximum 60 years at the time of loan maturity.
  • Income: IndusInd Bank bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. IndusInd Bank asks for net monthly income of ₹ 10,000 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.

IndusInd Bank Two wheeler Loan EMI

Two wheeler Loan EMI of IndusInd 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 IndusInd Bank is ₹ 377 per ten thousand loan amount at lowest two wheeler loan interest rate of 21.00%. IndusInd Bank bike loan EMI calculator depends on factors like:

  • Auto Loan IndusInd 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

IndusInd Bank 2 Wheeler Loan Apply

IndusInd 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 IndusInd Bank:

  • Fast track loan processing
  • Flexible repayment options
  • Transparency with no hidden costs

Documents Required for IndusInd Bank 2 wheeler Loan

Two wheeler loan IndusInd 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 IndusInd 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 IndusInd Bank on two wheeler loan?

IndusInd Bank bike loan interest rates today are 21.00% to 27.00%.

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

If you apply for a 2 wheeler loan from IndusInd Bank, your lowest EMI for ten thousand amount will be ₹ 377.

What is the maximum tenure of IndusInd Bank bike loan?

You can repay your bike loan from IndusInd Bank in a flexible period of maximum 3 years.

How much auto loan I can borrow from IndusInd Bank?

IndusInd Bank offers you 95% of Ex-ShowRoom Price of two wheeler as loan.

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

IndusInd Bank charge a processing fee of Nil with applicable service tax.

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

Yes, age is an important eligibility factor to get IndusInd Bank two wheeler loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.

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

You can foreclose your two wheeler loan from IndusInd Bank with Min 2% to 5%.


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IndusInd Bank Two Wheeler Loan News - Jul 2021
  • 2021-02-26 : IndusInd Bank to grow loan book by 15-18%
    IndusInd Bank is expecting to grow its loan portfolio by 15-18% year-on-year for the next two financial years under its fifth planning cycle.The Bank’s year-on-year growth in advances which include home, personal, LAP, two-wheeler car and gold loan along with business and mudra loan was flat at Rs 2.07 trillion until December 2020. Its deposits which include fixed and recurring deposits, grew by 10% to Rs 2.39 trillion.
  • 2021-01-08 : IndusInd Bank reported 11% growth in Q3 deposits
    IndusInd Bank posted a 3.2% quarter-on-quarter growth in the net advances which include home, personal, car, two-wheeler, gold and education loan along with business and mudra loans in the December quarter. Further, the bank also posted a 5% quarterly growth in deposits which includes fixed and recurring deposits.
  • 2020-07-29 : IndusInd Bank reported a Q1 profit before tax of Rs 602.45 crore
    IndusInd Bank registered a 67.8% fall in Q1FY21 net profit on the back of a five-fold increase in provisions for bad loans. Net interest income backed by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 16.4% year-on-year to Rs 3,309.2 crore in the quarter ended June 2020. Further, the gross bad asset ratio spiked to 2.53 per cent from 2.45 per cent in the March quarter and 2.15 per cent in the June quarter last year.
  • 2020-06-09 : IndusInd Bank profits dip
    IndusInd Bank reported profits of ₹301.84 crores for the three months to March, down 16% on a year-on-year (y-o-y) basis, owing to rise in provisions. Its net interest income stood at ₹3,231.19 crores which were aided by a home, personal, gold, car and two-wheeler loans along with business and mudra loans grew by 44.74% from the same period last year.
*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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