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  • As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.

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Self start your dream journey with IDFC FIRST Bank

Get two-wheeler instant loan with attractive offers.

, Instant Two Wheeler Loan on KYC Instant Two Wheeler Loan on KYC
Paperless journeyPaperless journey
Zero processing feesZero processing fees *
Low down payment Low down payment *
Instant Two Wheeler Loan on KYC
Paperless journey
Zero processing fees *
Low down payment *

*T&C Apply

Apply for Two Wheeler Loan Online

Thinking of 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.

Use our two-wheeler loan EMI calculator to plan your finances, so you can make your purchase more affordable. Get started with an IDFC FIRST Bank Two-Wheeler Loan today.

Product and Vehicle Variant interest rates

Vehicle Variants

ROI

Commuter

  Starting From 18.99%*

         Mid Premium / Electric Vehicle          

  Starting From 15.99%*

Premium 

Starting from 8.5%*

Read More

Read Less

CALCULATOR

Two Wheeler Loan EMI Calculator

Amount

1L 50L

Tenure

1 Year 30 Year

Interest Rate

8 % 15 %

You will pay an EMI of only monthly

Interest rate depicted here is based on a reducing rate.

  • Gourav Kumar Testimonial
    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."

  • Vundavalli Testimonial
    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."

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Check Your Pre Qualified Offer with us in 3 simple steps

Check your eligibility now using only your Mobile number and 1 personal identifier (Pan / Form 60)

Locate nearest store

Step into your nearest IDFC FIRST Bank Two Wheeler dealership

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

Terms and Conditions

  • IDFC First bank reserves the right to revise the rate of interest from time to time, at its sole discretion.
  • Final Interest rate will be communicated at the time of loan offer.
  • Interest rate depicted here is based on reducing rate.

Two wheeler loan Eligibility Criterias

FEES & CHARGES

Know about our minimal and transparent fees & charges

View Fees & Charges

Two  wheeler Loan Fees & Charges

FREQUENTLY ASKED QUESTIONS

What is a two-wheeler loan?

A two-wheeler 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.

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

The two-wheeler loan interest rate offered for salaried as well as self-employed persons by IDFC FIRST Bank is among the best in the market. We carry out an assessment and inform you whether you meet our eligibility criteria so you can get access to our best two-wheeler loan interest rate. You should ideally meet the following criteria: You should be above 21 years of age (18 years with co-applicant). Apart from these stipulations, you will need to provide some documentation.

Do I need to make a down payment or pay margin money for two-wheeler loan?

Yes, but be rest assured that at IDFC FIRST Bank, the down payment for a two-wheeler 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 95% of the vehicle's cost as a loan at our best two-wheeler loan interest rate. 

Do I need a guarantor to apply for a two-wheeler loan?

No guarantor is required, a co-applicant is required if the applicant is between 18-21 years of age.

How long will it take to process the loan?

Decision on your two-wheeler loan will be done within 2 minutes, we also have an online website journey where you can enter your details and get an approval instantly. Click here to get started

If I don’t have an account with IDFC FIRST Bank, can I still avail a two-wheeler loan?

Yes, you do not need an account with IDFC FIRST Bank to avail a two-wheeler loan from the Bank.

Who can apply for an IDFC FIRST Bank two-wheeler loan?

IDFC FIRST Bank offers instant two-wheeler loans to both Salaried and Self-employed individuals.

1. Salaried individuals must be minimum 21 years of age at the time of application and should have completed minimum 6 months in their current job to qualify for our best two-wheeler loan interest rate. 

2. Self-employed individuals and business owners should be minimum 21 years of age at the time of application. They should have been in business for minimum 2 years before you become eligible to apply. 

How can I apply for an IDFC FIRST Bank two-wheeler loan?

IDFC FIRST Bank provides a two-wheeler loan on easy terms through various channels. 

Through our mobile app or website:

You can fill up the online application through our mobile app or website and, if eligible, you can get an approval instantly. Our Sales Officer at empanelled dealerships will get in touch with you shortly for further processing.

Via Partner Showrooms:

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 the two-wheeler of your choice.

Can I get a two-wheeler loan online?

Yes, you can obtain a two-wheeler loan approval online. IDFC FIRST Bank offers among the best two-wheeler loan interest rates in the industry. You can either apply via our website. or mobile app to get started with your online loan application. We will check if you are eligible for our two-wheeler loan and provide you with an approval instantly, if eligible.

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

No, you don't need to visit our branch to get access to our best two-wheeler loan interest rate. You can get two-wheeler loans from:

Our mobile app or website:

You can fill up the online application through our mobile app or website and, if eligible, you can get an approval instantly. Our Sales Officer at empanelled dealerships will get in touch with you shortly for further processing.

Via Partner Showrooms:

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 the two-wheeler of your choice.

Can I pre-pay my entire two-wheeler loan amount?

Yes, your two-wheeler loan can be foreclosed by paying 5% at the point of sale.

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.

What is hypothecation of the vehicle?

Hypothecation is the process wherein you pledge the ownership of your vehicle to the lender. Once you take a vehicle loan, the hypothecation request is submitted to the regional transport officer with the loan details. Even though the vehicle's ownership remains with the lender, your name and address are mentioned in the vehicle's RC book. It means you will be legally liable for everything related to the vehicle. Once you have completely paid your loan off, you should get the hypothecation removed. You cannot sell your vehicle without removing it.

What are different modes of paying loan EMIs

You can make a payment online through the IDFC FIRST Bank mobile app, UPI, net banking, cash at the branch or through standing instructions/NACH.

What are the points of contact for customers post the disbursement of loan?

You may reach us at IDFC FIRST Bank Branch or Loan Centre, our customer service number 1800 0 888 or through our chatbot on the IDFC FIRST Bank Mobile Banking App

What is the maximum amount I can avail through a two-wheeler loan?

IDFC FIRST Bank offers up to ₹20 lakhs financing on two-wheeler loans, meaning you can avail a loan covering the entire on-road price of the bike. This eliminates the need for a down payment in some cases. However, the exact loan amount sanctioned depends on factors like your credit profile and the bank's assessment.

What is the EMI on a two-wheeler loan?

The Equated Monthly Instalment (EMI) on a two-wheeler loan depends on the loan amount, tenure, and applicable interest rate. IDFC FIRST Bank provides an EMI calculator where you can input these details to estimate your monthly payments. Click here to calculate your monthly EMI on a two wheeler loan

What is the interest rate on a two-wheeler loan?

Interest rates vary based on the type of two-wheeler:

• Commuter bikes: Starting from 18.99%*

• Mid premium/electric vehicles: Starting from 15.99%*

• Premium bikes: Starting from 8.5%*

*Rates are indicative and subject to change based on the bank's policies and your credit profile.

Can I change my EMI amount during the loan tenure?

Ideally, it is the best to use the EMI calculator before taking the loan to set your budget accordingly. If you face any emergency during your loan tenure and need to revise your EMI amount, you can get in touch with an IDFC FIRST Bank customer care executive or visit the branch personally to get the required support.

Are interest rates different for new bikes vs used bikes loan?

Usually, a loan for a new bike would have a lower interest rate as compared to a loan for a used bike. This is because used bikes are a higher risk for lenders given their shorter remaining lifespan, potential maintenance issues, and uncertain resale value. 

What happens if I miss a two-wheeler loan EMI payment?

Missing an EMI can lead to:

• Late payment fees: Additional charges may apply.

• Credit score impact: Delayed payments can negatively affect your credit history.

• Increased interest: The overall interest payable may increase.

It's advisable to inform the bank promptly and make the payment as soon as possible to mitigate these effects.

What factors affect the interest rate of my two-wheeler loan?

Several factors influence the interest rate offered:

• Credit score: A higher score can lead to better rates.

• Loan tenure: Longer tenures might attract different rates.

• Type of bike: Premium bikes may have different rates compared to commuter bikes.

• Income and employment stability: Stable income sources can favourably impact rates.

Maintaining a good credit profile and choosing a suitable loan tenure can help in securing favourable interest rates.

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