HDFC Bank Two Wheeler Loan

Type of Loan	Interest Rate
SuperBike Two Wheeler Loan	9.10% onwards
Two Wheeler Loan	10.45% onwards

Note: The mentioned interest rates, fees, and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned interest rate.

Two-wheeler loan interest rate offered by HDFC bank starts from 10.45% and for Superbike two-wheeler loans the interest rate offered is 9.10% onwards.

Applicants fulfilling the below criteria are eligible for financing of their two wheeler by HDFC Bank:

• The age for applying the loan can range between 21 years (at time of loan application) to 65 years at the time of loan maturity.
• Salaried people having an annual income of Rs. 84,000 can avail the benefits of this loan.
• A self Employed individual should have Rs. 72,000 income status annually to apply for the loan.
• People residing at the current address for minimum one year need to have valid documents in case of transfer for the loan approval.
• Any individual should have a work status of a minimum one year.
• People having a telephone or office landline connection are eligible.

The submitted documents are validated at the bank, so it becomes mandatory for the applicant to provide correct documents when applying for a loan for their bike/scooter.

Identity Proof Documents

• Valid Passport
• Voter’s ID card
• Driving License
• PAN card
• Company ID card
• Ration Card (If exists)

Residential Proof Documents

• Valid Passport
• Voter’s ID card
• Driving License
• Rental Agreement
• Telephone Bill
• Electricity Bill
• Gas Connection Bill
• Ration Card
• Property Purchase Agreement
• Latest Credit Card Billing
• LIC Policy
• A letter from the company (accommodation if provided or residential address)

Income Proof Documents

• Salaried: Recent salary slip for government employees or an authorized salary certificate having the name and designation of the customer.
• Self Employed: A copy of a recent Income Tax Return.

The HDFC Bank offers 2% lower interest rates for two-wheeler loans; the bank also offers flexible tenure for loan repayment. With its quick and hassle-free process, it saves time and money of its customers.

Some of the features and other details that make it stand out from the crowd are:

• The bank offers Two-wheeler loans to both Salaried and Self-employed people.
• EMI option: The bank offers you various options in EMIs where people can select any one favorable to them according to their income and expenses.
• Variable Interest Rates: The bank also has flexible interest rates depending on the amount of loan and tenure of the customer.
• Online Process: There is the facility to do the process online and get things done just in few clicks while sitting at home.
• Easy Repayment Options: The consumer can repay the amount through EMI or post-dated cheques, whatever is the best option for the consumer at that point.
• Instant Loan Approval: By just providing correct documents at the dealership, the bank verifies the documents and provides instant approval.

Two Wheeler Loan Extra Charges	Amount and Procedure
Loan Processing Charges	Max. 3% on the loan amount
Documentation Charges	Max. 3% on the loan amount
Pre-Payment Charges	10% of principal outstanding: if it is between 4 months to 6 months from the first EMI 6% of principal outstanding: if it is between 7 months to 12 months from the first EMI 5% of principal outstanding: if it is between 13 months to 24 months from the first EMI 3% of principal outstanding: if it is posted 24 months of the first EMI Pre-Payment is not allowed within three months of the EMI
No Objection Certificate (NOC)	NIL
Overdue EMI interest	The rate will be 2.5% each month on the unpaid installment
Stamp Duty	It Depends as stated by the State Government
Cheque Bounce or EMI return Changes	Rs. 500/-
Loan Cancellation Charges	NIL (There might be charges for the interim period that lies in the date of loan disbursement to the cancellation of loan, documentation charges, and stamp duty that is applied on documents like cheques, receipts, or any transaction records would be retained and charged accordingly)
Legal, Repossession or Incidental Charges	At Actuals
Duplicate NOC	Rs. 500/- for each request
CIBIL charges (on request)	Rs. 50/-
PDD Collection Charges	Up to Rs. 450/-
Cheque or ECS Swapping Charges	Rs. 500/-
Amortization Schedule Charges	Rs. 200/-
Special NOC Charges	Rs. 500/-
Loan rescheduling Charges	Rs. 1000/-

Note: The mentioned interest rates, fees, and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned fees & charges.