In India, the majority of the population uses two-wheelers to commute as it is practical and saves time in city traffic. So, as most individuals cannot afford to buy a two-wheeler in one shot, banks offer two-wheeler loans to make it easy for the individual to buy a two-wheeler without it taking a toll on their finances for the month. There are many banks and Non-Banking Financial Companies that offer two-wheeler loans for their customers.

Some of the banks that offer attractive two-wheeler loan are:

1. ICICI bank:

They finance up to 100% of the on-road cost of the two-wheeler

They have flexible tenures of up to 48 months 

They provide pre-approved loans for existing ICICI customers

Interest rates begin at just 9.25% and go up to 26% based on the customer’s credit profile 

They have special low-down payments and EMI schemes for customers

2. HDFC bank:

100% of the two-wheeler’s cost is funded by the bank if one is an existing HDFC customer 

They have very flexible tenures that range from 12 months to 48 months

They have over 3000 branches across India that offer two-wheeler loans 

The interest rates begin at just 9% for super bike two-wheeler loan and 11.49% for two-wheeler loan 

3. IndusInd bank:

They have a paper free online application process

Tenures range from 1 year to 5 years

Interest rates are charged at the discretion of the bank, but the MCLR benchmark is just 9.75% for 1 year

They have simple and easy documentation process

50% of the processing fee is waived off for IndusInd customers. 

To apply for a two-wheeler loan, click here.