IDFC First Bank Two-Wheeler Loan
The loans are offered at interest rates ranging between 9.00% p.a. and 18.99% p.a.
IDFC has curated a two-wheeler loan to enable everyone in the country to own their own scooter or motorcycle with ease and less hassle.
The bank offers flexible Equated Monthly Instalments (EMI) payment options and a low processing fee.
IDFC First Bank Two Wheeler Loan Interest Rates
Category | Details |
Premium Vehicles | 9.00% p.a. onwards |
Electric and Mid-Premium Vehicles | 15.99% p.a. onwards |
Commuter Vehicles | 18.99% p.a. onwards |
Product | Interest Rate |
Super Saver | 9.99% p.a. onwards |
Used Bike/ Income Proof/ No Income Proof | 9.00% p.a. onwards |
How to apply for IDFC First Bank Bike Loan?
The procedure that must be followed to apply for a two-wheeler loan at IDFC First Bank is mentioned below:
Fill in the Application Online
IDFC First Bank allows you to easily buy your new bike on EMI with minimum documentation and a fast and efficient application process. Once you have submitted the online application form, you will be contacted by a bank representative.
Submit the Documents
Once the representative from the bank contacts you, he/she will guide you through the documentation process. The representative will explain how to upload the documents.
Buy the Two-Wheeler
Once the representative runs you through the process and your two-wheeler loan application has been processed, you will get your loan and can purchase the two-wheeler of your choice.
IDFC First Bank Two-Wheeler Loan EMI Calculator
IDFC First Bank understands that buying a two-wheeler can be difficult, considering the high maintenance rates, hike in fuel prices, and parking issues. The bank helps you buy your own two-wheelers and ease your pocket.
With flexible EMI options, IDFC First Bank has launched its two-wheeler loan to ensure that every Indian who wants to have a scooter or bike can purchase one with ease.
The IDFC First Bank two-wheeler EMI calculator is an online service provided by the bank for you to span and plan your payments. In the calculator, you will be able to see your estimated EMI amount for a two-wheeler loan.
You can type in the required details of your loan and get your EMI immediately. You can visit the IDFC First Bank website to check your EMI two-wheeler loan
Other Banks Offering Two-Wheeler Loan in India
IDFC First Bank Two-Wheeler Loan
Central Bank of India Two-Wheeler Loan
Capital First Two Wheeler Loan
Bank of India Two-Wheeler Loan
Jammu & Kashmir Bank Two Wheeler Loan
IDFC First Bank Two-Wheeler Loan Eligibility and Documents Required
Category | Details |
Eligibility |
|
Documents Required |
|
Features and Benefits of IDFC First Bank Two-Wheeler Loan
The main features and benefits of the two-wheeler loan offered by IDFC First Bank are given below:
Easy Application Process
You have to fill in an application online in order to begin the application process for your two-wheeler loan. Once the form has been submitted, a representative from the bank will contact you to help to take the process forward.
Transparency at all Stages
The financing and loan process of your two-wheeler will be transparent and open. After you meet the eligibility criteria and the documents for your loan have been verified, the bank will sanction a loan for the bike on EMI.
Get up to 95% of the Cost Financed by the Bank
IDFC bank will finance up to 95% of the entire cost of the new two-wheeler. You will only have to pay 5% upfront. The tenure of the two-wheeler loan is up to 4 years.
Zero Processing Fee
You can avail a two-wheeler loan without having to pay any processing fee whatsoever.
Instant Sanction
You can apply for a loan from IDFC Bank online where you will have to submit minimum documents. The time taken to sanction your loan application is also instant.
Attractive Interest Rates
You can avail a two-wheeler loan at attractive interest rates with rates ranging between 9.99% p.a. and 18.99% p.a.
FAQs on IDFC First Bank Two Wheeler Loan
- If I am a business owner, will I be allowed to get an IDFC First Bank two-wheeler loan?
Yes, you can avail the IDFC First Bank two-wheeler if you are self-employed or a business owner. You should have been in business for at least two years in order to meet the eligibility criteria. Please note that you must also be at least 18 years of age at the time of applying for the two-wheeler loan.
- Are there any margin money or down payment?
Yes, the down payment is a small amount and you will have to make this payment at the vehicle dealership. The amount is usually the difference between the amount of loan sanctioned and the on-road price of the two-wheeler.
- Will I have to visit the IDFC First Bank branch to avail a two-wheeler loan?
Please note that you can also apply for the two-wheeler loan by visiting any dealership. The bank has dealerships in 65 locations across India.
- What is the process of loan repayment?
You can repay the loan amount through EMIs. You should pay a fixed amount every month along with interest.
- Will the whole application process for the loan be online, or will I have to visit the bank to get the application form?
You can apply for your two-wheeler loan online through the IDFC First Bank website or mobile app. The bank will check if you meet the eligibility criteria and then approve the loan once the documents have been verified and your application has been approved.
- Can I apply online for IDFC First Bank two-wheeler loan?
Yes, you can get an IDFC First Bank two-wheeler loan approved online. You need to make a loan application on the IDFC First Bank website or mobile app to avail online approval.
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