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Two Wheeler Loan

Have you always thought about owning a two-wheeler? IDFC FIRST Bank presents a Two-Wheeler Loan, which makes buying a bike or scooter easier, with an attractive two-wheeler loan interest rate.Read More

Use our two-wheeler loan EMI calculator to plan your finances, so you can take home your dream ride. Get started with an IDFC FIRST Bank Two-Wheeler Loan today.

Segment interest rates for various loan amounts:
• Upto 1.25 lakh – 18.99%
• 1.25 lakh to 3 lakh – 14.99%
• 3 lakh and above - 9.99%
Read Less

EASY-BUY EMI Card

Purchase your Two-Wheeler with an IDFC FIRST Bank Easy-Buy EMI Card

  • Pre-approved loan of up to ₹6 lakhs
    based on eligibility
  • 95% LTV
  • Fresh KYC not required
  • Fresh repayment mandate not required

CALCULATOR

Two Wheeler Loan EMI Calculator

Amount

1L 50L

Period

1 Year 30 Year

Interest Rate

8 % 15 %

You will pay an EMI of only monthly

  • Gourav Kumar

    "I have taken a two-wheeler loan through IDFC FIRST Bank. The rate of interest and the processing fee was low, and the process was very easy and smooth. I also want to thank the branch executives for getting the same done for me. My loan application and disbursement process was simple and good."

  • Vellanki Mallikarjuna R

    "I am very happy to share that I got a two-wheeler loan from IDFC FIRST BANK within 20 minutes! This is much faster than many other banks."

ELIGIBILITY

Who can apply?

  • Indian resident
  • Age above 21 years
  • Age b/w 18-21 years with mandatory co-applicant

Documentation

  • Passport-size photograph
  • Any valid identity/address proof such as Passport, Aadhaar card, Driver’s license, Voter Id
  • Loan application form

FEES & CHARGES

Know about our minimal and transparent fees & charges

View Fees & Charges

Eligibility Image

FREQUENTLY ASKED QUESTIONS

What is a Two Wheeler Loan and how can I get one?

A bike loan helps you purchase a motorcycle or a scooter of your choice, and pay for it in equated monthly instalments (EMIs). Our loans are available for both salaried and self-employed individuals.

IDFC FIRST Bank provides a bike loan on easy terms; all you have to do is - fill in the application form through our mobile app or website and, if eligible, you can get an approval instantly. Our Sales Officer at empaneled dealerships will get in touch with you shortly for further processing. Alternatively, you can also walk into any of our partner two-wheeler showrooms, where our representative will help you complete all required formalities, and inform you if you are eligible for a loan on the spot. Once your loan application is approved, you can ride out with a two-wheeler of your choice.

What is the Two Wheeler Loan repayment process?

You will need to repay your Two Wheeler Loan through Equated Monthly Instalments or EMIs, wherein 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 an IDFC FIRST Bank branch to get a bike loan?

You don't need to visit our branch to get access to our best bike loan interest rate. We are present at all major dealerships in 91 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 Two Wheeler Loan online approval instantly. Our Sales Officer at empaneled dealerships will get in touch with you shortly post approval for further processing. Alternatively, you can also walk into any of our partner two-wheeler showrooms

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 for a bike loan 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. Once you get a Two Wheeler Loan online approval, you will be able to get up to 90% of the vehicle's cost as a loan at our best bike loan interest rate. This 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 one of the best Two Wheeler Loan interest rates to salaried as well as self-employed persons. We will carry out an assessment and inform you whether you meet our eligibility so you can get access to our best bike loan interest rate. You should ideally meet the following criteria: You should be above 21 years of age. 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 our best bike loan interest rate. You should be at least 21 years of age at the time of making the application.

I am a business owner; can I get a bike 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. Additionally, you must be at least 21 years of age at the time of making the application.

Can I receive a Two Wheeler Loan online?

Yes, it is possible to obtain a Two Wheeler Loan online approval . We also offer one of the best bike loan interest rates in the industry. 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 our Two Wheeler loan interest rate, and provide you with an approval instantly, if eligible.

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