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HDFC Bank Two Wheeler Loan Documents Required

Home HDFC Bank HDFC Bank Two Wheeler Loan HDFC Bank Two Wheeler Loan Documents Required
Updated: 12-07-2022 11:11:29 AM

Two wheelers have become a necessity for commuters travelling within the city or inter-state. Owning a two-wheeler vehicle is sometimes difficult for many, as their monthly income does not permit them to make an upfront payment. In such a case, HDFC two-wheeler loans come to your rescue to avail the two-wheeler first and repay the loan with easy Equated Monthly Instalment (EMI).

Documents Required for HDFC Two Wheeler Loan
Interest Rate and Eligibility Criteria
HDFC Two Wheeler Loan Fees & Charges
Features of HDFC Bank Two Wheeler Loan
Frequently Asked Questions
Documents Required for HDFC Two Wheeler Loan

HDFC Bank insists on minimum documentation to process your two-wheeler loan application. Below is the comprehensive list of documents for your ready reference.

Mandatory Document PAN Card
Identity Proof (Any One Document)
  • Passport
  • Election Card
  • Driving License
  • Ration Card
Address Proof If the present address is the same as mentioned in Identity proof, there is no need for another document. In case of another document, only one document from the below list is admissible :

 

  • Rental Agreement
  • Power Bill
  • Gas Bill
  • Water Bill
  • Telephone Bill
  • LIC Policy bearing the present address
  • Address on company letterhead
Income Proof
  • Last 3 months’ pay-slips
  • Last 6 months’ bank statement
  • Last 3 years’ Income-Tax Return (ITR)
Interest Rate and Eligibility Criteria
HDFC Bank Two Wheeler Loan – Interest Rate & Eligibility Criteria (2019)
Interest Rate (Super Bike Loan) 9.05% onwards
Interest Rate (Two-wheeler Loan) 10.40% onwards
Applicant Profile Salaried or Self Employed
Age Criteria Min. 21 years & Max. 65 years
Minimum Income (Salaried) Rs. 7000 per month
Minimum Income (Self-employed) Rs. 6000 per month
Residential Status Min. 1 year stay in one city
Work Experience Min. 1 year

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 charges.

HDFC Two Wheeler Loan Fees & Charges
Fees & Charges – HDFC Bank Two Wheeler Loan
Processing Charges Up to 3 % on the loan amount
Documentation Charges Up to 3 % on the loan amount
Pre-Payment Charges
  • No prepayment is allowed until three successful EMI Payments.
  • After 3 EMI payments, you can prepay the loan with a nominal charge of 3% to 10% of the outstanding loan amount.
No Objection Certificate (NOC) NIL for first NOC & Rs.500 for duplicate NOC
Overdue interest 2.5% per month
Stamp Duty At actual
Cheque Bounce Changes Rs. 500 + GST
CIBIL charges Rs. 50/-

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 charges.

Features of HDFC Bank Two Wheeler Loan

HDFC Bank Two Wheeler loan is most popular among borrowers because of its minimum documentation, attractive interest rates, ease of applying and flexible repayment options.

Below are some of the features of HDFC Bank two-wheeler loans:

  • Minimum Documentation: You don’t have to prepare a bunch of documents to avail HDFC Bank two-wheeler loans. The bank needs your minimum KYC documents and income proof to grant you two-wheeler loans.
  • Attractive Interest Rate: Since the loan is secured through vehicle hypothecation, the interest rates offered by HDFC bank starts from 9.05% onwards.
  • Flexible Repayment Period: You have an option to opt for lower EMI amount by increasing your loan tenure up to 5 years. In case your income is more to afford higher EMI, you can reduce the tenure up to one year and save on interest cost.
  • Online Application: You can complete your loan application from the comfort of your home or office. You don’t have to visit the bank multiple times for your two-wheeler loan application.
Frequently Asked Questions

Q. What is the Two Wheeler Loan interest rate offered by HDFC Bank?

A. The interest rate offered by HDFC bank is 9.05% onwards for Super-bikes and 10.40% onwards for Two-wheeler loan.

Q. Earlier I have given PDC for my two wheeler loan, but now I want direct debit from my salary account. How can I do so?

A. You can contact the customer care department with your loan application number and other KYC details, along with bank mandate form. The request will be processed within 2-3 working days.

Q. What happens to my PDCs when I change the mode of payment?

A. You can request to HDFC bank, if you wish to get your PDCs bank within 45 days from the date of change of payment mode. If you do not request so, the bank will destroy the same after 45 days.

Q. How can I check the status of my HDFC bank two wheeler loan application?

A. Call HDFC customer care phone number

  • Visit the official website of HDFC Bank
  • Visit nearest HDFC Bank branch
  • Login to your HDFC Netbanking account
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