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 – Q3 – 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 Q3- FY 2025
Note:Â Interest rates offered may differ from BC to BC.
Annualized Percentage Rate (APR) – Q3 – 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 - 1% of loan amount plus applicable taxes. Processing fee is applicable only for loans above Rs.25000 if classified as Priority sector lending.
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.