IDFC FIRST Bank Two-Wheeler Loan

Always dreamed to own a ride? Make it yours with an easy two-wheeler loan.

Two Wheeler Loan
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Get up to 95% of vehicle's value as loan.
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Flexible tenures of up to 5 years
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Wide network of major dealerships across 65 cities in India.
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Quick approvals and simple documentation.

Two Wheeler Loan EMI Calculator

  • Have you always wanted to own your own two wheeler? IDFC FIRST Bank’s two wheeler loan can make this dream a reality. Find out how you can comfortably buy your ride by using our two wheeler loan EMI calculator. Take the first step towards your own bike!
  • Have you always wanted to own your own two wheeler? IDFC FIRST Bank’s two wheeler loan can make this dream a reality. Find out how you can comfortably buy your ride by using our two wheeler loan EMI calculator. Take the first step towards your own bike!
  • Enter loan amount – Rs
  • Interest rate (%) –
  • Tenure --- months
  • Result:
  • Your EMI for your two-wheeler loan will approximately come up to Rs -------

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3 easy steps to your two wheeler loan

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Key features

  • Transparent process without any hidden charges.
  • Cash as repayment option plus no cheques required.
  • Doorstep instalment collections in cash.
  • Easy apply by clicking here.

Eligibility and
Documents

  • Resident of India.
  • Salaried professional OR self-employed individuals over 18 years.
  • Individuals employed for at least 6 months OR those with a business since a minimum of 2 years.
  • Resident of India.
  • Salaried professional OR self-employed individuals over 18 years.
  • Individuals employed for at least 6 months OR those with a business since a minimum of 2 years.
  • Simply submit your loan application form, a passport-size photograph and valid ID as well as address proof.*
  • Any one self-attested identity proof such as passport, PAN card, voter identity card, driving license, Aadhaar card.
  • Any one self-attested identity proof such as ration card, passport, Aadhaar card, driving license, landline bill, sale deed/property purchase agreement (for owned properties).
  • The application will be assessed quickly after receiving the required documents. Please quote the Application Reference Number mentioned in the slip for any enquiry(ies).
  • Documents required might vary according to the scheme chosen.
  • Please note that IDFC FIRST Bank may ask for additional documentation and proof to verify that you meet the eligibility criteria required to apply for a two-wheeler loan. Please refer to our two wheeler loan eligibility calculator to understand more about our bike loan eligibility.

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Frequently Asked Questions

What is a two-wheeler loan and how can I get one?

A two-wheeler loan helps you purchase a motorcycle or a scooter of your choice and pay for it in equated monthly instalments (EMIs). Two-wheeler loans are available for both salaried and self-employed individuals. IDFC FIRST Bank provides two-wheeler loans on easy terms; all you have to do is fill in the application form through our mobile app or website here and if eligible you can get an approval instantly. You can also walk in to a two-wheeler dealership where our representative will help you complete the formalities and inform you if you are eligible for a loan on the spot. Once your loan application has been approved you can ride out with a two-wheeler of your choice. 2) What is the loan repayment process? 3) Do I need to visit a IDFC FIRST Bank branch to avail a two-wheeler loan? 4) Do I need to make a down payment or pay margin money? Eligibility 5) How do I know if I am eligible for a two-wheeler loan? 6) Can a salaried person get a two-wheeler loan? 7) I am a business owner; can I get a two-wheeler loan? 8) Can I receive a two-wheeler loan online? 9) What is the process of getting a two wheeler loan online? Cost 10) Is the interest on my loan fixed or variable? 11) Are there any fees charged on processing a two-wheeler loan? Benefits 12) Are there any benefits of taking a two-wheeler loan from IDFC FIRST Bank? Loan Parameters 13) What is the maximum loan I can take for a two-wheeler? 14) How can I remove hypothecation on my two-wheeler after I have repaid the loan? 15) What about a security or collateral? 16) How long will it take to get a loan? 17) What is a No Objection Certificate and how do I receive one? Loan Repayment 18) What if I want to change the tenure of my two-wheeler loan? 19) In case I change my mind about the loan, can I cancel my loan application? 20) What is the maximum tenure of a IDFC FIRST Bank two-wheeler loan? 21) What is the loan repayment process? 22) Can I repay the loan before the tenure expires? 23) What do I do if I have missed an EMI? 24) Is it possible to get life insurance along with my loan? 25) How can I get my Statement of Account? Didn't find an answer to your question? 26) I have a question that is not listed here; what do I do? Effective 18th December 2018, Capital First & IDFC Bank have merged. The merged entity is now IDFC FIRST Bank. Click here to visit the website of ID

What is the loan repayment process?

You will need to repay your two-wheeler loan through Equated Monthly Instalments or EMIs where you pay a fixed amount each month until your loan is repaid. Every instalment of the loan that you repay will be partly made up of principal repayment and partly of interest payment. Once you complete your loan repayment, you can apply for the removal of hypothecation on your vehicle and you will gain complete ownership.

Do I need to visit a IDFC FIRST Bank branch to avail a two-wheeler loan?

You don't need to visit our branch. We are present at all major dealerships in 65 cities across India and our representative present there will be glad to help you. Our decision on your application is processed rapidly so that you can get possession of your vehicle without delays. You also have the option to apply for the loan through our website or mobile app wherein you get a decision instantly.

Do I need to make a down payment or pay margin money?

Yes, but be rest assured that at IDFC FIRST Bank, the down payment is just a small amount you need to pay at the vehicle dealership and is only the difference between on the on-road price of the two wheeler amount and the loan sanctioned to you. You will be able to get up to 95% of the vehicle's cost as a loan, which ensures that the down payment or margin money is always a small component and will not come in the way of you becoming the owner of your favourite two-wheeler.

How do I know if I am eligible for a two-wheeler loan?

IDFC FIRST Bank provides two-wheeler loans to salaried as well as self-employed persons. We will carry out an assessment and inform you whether you meet the two wheeler loan eligibility. You should ideally meet the following criteria: Your age should be above 18 years. You should have been in employment for at least 6 months or been running a business for at least 2 years. Apart from these stipulations, you will need to provide some documentation.

Can a salaried person get a two-wheeler loan?

Yes, a salaried person can get a two-wheeler loan from IDFC FIRST Bank. You should have been in your job for at least 6 months to qualify for a two-wheeler loan. You should be at least 18 years of age at the time of making the application. Click here to find out about the documents you will need to submit for loan processing.

I am a business owner; can I get a two-wheeler loan?

Self-employed individuals and business owners can get a two-wheeler loan from IDFC FIRST Bank. You should have been in business for at least two years before you become eligible to apply for a two-wheeler loan. Additionally, you must be at least 21 years of age at the time of making the application. Click here to find out about the documents you will need to submit for loan processing.

Can I receive a two-wheeler loan online?

Yes, it is possible to obtain a two wheeler loan online. You can either visit our website here or download our mobile app from Google Play or Apple App Store and fill in your details. We will check if you are eligible for a Two-wheeler loan and provide you with an approval instantly if eligible.

What is the process of getting a two wheeler loan online?

Once you have filled the form through our mobile app or website, you can get to know instantly if your loan application has been approved. If you have been approved for a two-wheeler loan you will receive a loan approval ID online. You can show this loan approval ID to the IDFC FIRST Bank representative at the dealership and he will assist you in completing the remaining formalities. You can then walk out of the dealership with the bike of your choice.

Is the interest on my loan fixed or variable?

We offer a fixed rate of interest on two-wheeler loans and help you with a planned repayment programme that is suited to your needs. The loan can be repaid gradually in EMIs thus ensuring that you do not have to bear a large expense all at once while buying your two-wheeler. You have the option of picking a flexible tenure for the loan that can range from 06 to 60 months. Please use our bike loan calculator, which will help you ascertain the cost of the loan, your EMI amount and other parameters.

Are there any fees charged on processing a two-wheeler loan?

At IDFC FIRST Bank, we believe in giving you the best possible terms for your loan at the lowest possible cost. In case of a two-wheeler loan, we limit our charges to processing fees, document charges and the applicable stamp duty. At the time of applying for your loan, you can get all the information regarding fees from a IDFC FIRST Bank representative. In an effort to make the process as transparent as possible, this information is available at the vehicle dealership from where you will be purchasing the two-wheeler.

Are there any benefits of taking a two-wheeler loan from IDFC FIRST Bank?

IDFC FIRST Bank offers loans at competitive rates for a wide variety of two-wheelers. We are prompt with making a decision on your application and the loan process is simple and completely transparent. You can avail finance up to 95% of the value of the vehicle and the down payment amount is the on-road value of the vehicle minus the loan amount sanctioned. We offer loans of flexible tenure ranging from 6 to 60 months. As the interest rate is fixed, you will remain protected from interest rate hikes in the future.

What is the maximum loan I can take for a two-wheeler?

You can take up to 95% of the on-road price of the vehicle's value as a loan. This allows you to make a down payment of the on-road price of the vehicle minus the sanctioned loan amount. Since IDFC FIRST Bank gives out the maximum possible loan amount, you will be able to access the two-wheeler of your choice easily.

How can I remove hypothecation on my two-wheeler after I have repaid the loan?

We will send a No Objection Certificate (NOC) to your registered address once your loan has been repaid. You can contact your local registration and licensing authorities with this NOC to get hypothecation removed from the vehicle. In case you need any assistance, please feel free to call our customer care at 1860-500-9900 or write to us at customer.care@capitalfirst.com. You can also visit any of our branches.

What about a security or collateral?

Your vehicle is hypothecated to IDFC FIRST Bank and serves as the security during the tenure of the loan. There is no need to provide any additional security. We would just need your KYC documents along with your bank details to process the approval.

How long will it take to get a loan?

Your loan application is processed by us in just 5 minutes. All you need to do is make sure that you provide us with all the necessary documentation needed. We process your loan application online, so you will know if the loan has been approved almost instantly. The process is quick and simple and can be undertaken at the bike dealership also. There is no need to visit our offices for procuring the loan.

What is a No Objection Certificate and how do I receive one?

We issue a No Objection Certificate (NOC) once you have finished repaying the entire loan amount. This NOC can be submitted to your Registration and Licensing Authorities, who will then remove the hypothecation that is marked on your vehicle. We will send the NOC by post to your address we have on file but in case you have not received it for any reason please feel free to contact customer care at 1860-500-9900 or write to us at customer.care@capitalfirst.com.

What if I want to change the tenure of my two-wheeler loan?

You can choose a loan tenure ranging from 06 months to 60 months at the time of taking your loan. In case you would like to change the tenure of your loan, please feel free to call our customer care at 1860-500-9900 or write to us at customer.care@capitalfirst.com. You can also visit one of our branches to get more information. .

In case I change my mind about the loan, can I cancel my loan application?

You are free to cancel your loan application although we will regret losing your patronage. Please call our customer care at 1860-500-9900 or send us an email at customer.care@capitalfirst.com. Please feel free to visit any of our branches if you would like to receive assistance in person.

What is the maximum tenure of a IDFC FIRST Bank two-wheeler loan?

IDFC FIRST Bank provides two-wheeler loans ranging from a tenure of 06 months to 60 months. This allows you to build a repayment plan that best suits your needs. With a long tenure loan, you can have lower EMIs, which are easier on the pocket; alternatively, you can choose a shorter tenure loan and repay the loan quicker.

What is the loan repayment process?

You can repay your loan by making a payment online through our website or mobile application. If you would like to know more about repayment options or if you have any questions, please feel free to call our customer care at 1860-500-9900 or email us at customer.care@capitalfirst.com.

Can I repay the loan before the tenure expires?

Yes, you can repay the entire loan amount before the tenure expires. This payment can be made either at any of our IDFC FIRST Bank branches or through our website or mobile application. In case you would like to know more about your loan repayment before expiry of the tenure, please contact us at 1860-500-9900 or email us at customer.care@capitalfirst.com.

What do I do if I have missed an EMI?

If you have missed an EMI instalment for any reason, you can make a payment to any of the IDFC FIRST Bank branches or through the website or mobile application. You can also contact us at 1860-500-9900 or email us at customer.care@capitalfirst.com and we will make arrangements to pick up the pending EMI payment from your home or office at your convenience. .

Is it possible to get life insurance along with my loan?

Sure, you can get a life insurance at the time when you take out your loan. IDFC FIRST Bank makes it really simple to get insurance because you will be able to pay your premium amount along with the loan amount EMIs. This cuts down the need to be able to have to pay a huge one-time premium at the time of purchasing your vehicle. We also make sure that the insurance policies you get have the best possible terms and are made available to you at competitive prices.

How can I get my Statement of Account?

You can get your statement of account from IDFC FIRST Bank's customer portal. Alternatively, please visit our branch and our representative will help you obtain your statement. You can also visit the dealership and our sales officer will provide you the statement. You can also receive your statement by calling our customer care at 1860-500-9900 or by writing to us at customer.care@capitalfirst.com and we will send a copy of your statement of account to your registered email address.

I have a question that is not listed here; what do I do?

We will be glad to help you with any questions regarding the IDFC FIRST Bank two-wheeler loan. Please feel free to contact our customer representative at 1860-500-9900 or email us at customer.care@capitalfirst.com. If you have a more pressing matter to discuss, feel free to visit any of our branches and speak to our customer representatives.

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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

IDFC FIRST Bank Customers

Toll Free No - 1800 419 4332
Email - Banker@idfcfirstbank.com

Capital First Customers

Toll Free No - 1860 500 9900
Email - Customer.Care@Capitalfirst.Com

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