Two Wheeler Loans
Two Wheeler Loans
Two Wheeler loans are provided by bank helping customers own their own two wheelers.
Benefits
Maximum loan upto Rs.110000
Loan Tenure - upto 2 years Repayment frequencies as desired (weekly, fortnightly & Monthly)
Interest Rates – Q4 – 2024-25
| Product | Minimum | Weighted average interest rate* | Maximum |
|---|---|---|---|
| Two Wheeler Loans | 24.0% | 24.0% | 24.0% |
* Weighted average interest rate is calculated based on the disbursements done in Q4- FY 2024-25
Note:Â Interest rates offered may differ from BC to BC.
Annualized Percentage Rate (APR) – Q4 – 2024-25
| Product | Minimum | Maximum |
|---|---|---|
| Two Wheeler Loans | 25.04% | 27.14% |
Current Interest Rates
| Product | Minimum | Maximum |
|---|---|---|
| Two Wheeler Loans | 24% | 24% |
*Interest rate may differ from BC to BC and basis customer category
Fees & Charges
Processing Fee - Upto 1.5% of loan amount plus applicable taxes.
Credit Shield Insurance to be charged at actuals and to be paid by the customer if opted. Borrower has choice to opt for
- Availing Insurance offered by Bank through its tie-up or
- To assign his/her existing insurance policy to the satisfaction of IndusInd Bank.
Stamp duty - Stamp duty applicable as per state norms.
Fore - closure / part-payment - No charges levied
Down-payment – As applicable to model chosen and on-road price
Note :Â Charges may differ from BC to BC.
Eligibility
- Individuals (18-61 years).
- Have Officially Valid Documents as KYC (Aadhaar / Driving License / voter ID /Passport / Job card issued by NREGA).
- PAN or Form 60 Mandatory.
- Applicant must provide Personal Details, Household detail, Business / activity Details, Income Details etc as applicable for the bank to decision the case.
- Residing within the operational area of Bank though BC.
- Maximum Turn Around Time (TAT) from Loan application to Loan Decisioning is 14 working days  from the date of receiving the complete set of application and required documents.
*Customer final loan eligibility will be determined by the bank’s loan eligibility criteria set for the specific product.