Skip to content

IDBI Bank Two Wheeler Loan

Two Wheeler Loan

A two wheeler loan is a financial aid given to you by the bank. in this type of loan, the bank provides you some amount of loan at some rate of interest. This loan is given for a given period of time, this is known as its tenure. Since this is a two wheeler loan so you can buy only a two-wheeler by using this amount of loan.

 

Features of Two Wheeler Loan

The customer can avail a loan of up to INR 10 Lacs.

Customer  loan will be authorized on Road Price i.e., Cost of Two wheeler +  Fees of registration +  Insurance + Tax)

Other extra expenses for fancy numbers cannot be funded by the bank.

The loan can be sum up to INR 20 lakhs  (Minimum 10 percent)

Two wheeler loans are given by Central Bank of India with floating fixed interest rates.

2 Wheeler’s basic Rate with 0.40 percent.

 

IDBI Bank

IDBI (Industrial Development Bank of India) is a government-owned bank, established in 1964 by Act of Parliament to provide credit and other financial facilities. The Bank is located in Mumbai, India. The Bank has 3817 ATMs, 1995 branches, and 1328 centers, with one branch in Dubai. The Bank provides financial products and services encompassing deposits, loans, payment services, and investment solutions. IDBI provides two wheeler loan to their customers at affordable prices and has maintained its credibility among customers for decades. Following is the eligibility criteria and documentation process.

 

Eligibility Criteria

Age

Min. age -21 years

Max. age-65 years

Employment Status

Salaried individual / self-employed

Employment Tenure

1 year of salaried individual and 6 months for self-employed

Minimum Annual Income

Rs.84,000/- ( salaried individual)

Rs.72000/- (self-employed)

 

Documentation Required

Photo ID proof

Colored passport size photograph

Identity proof

Passport/Voter ID/Driving license/Adhaar card/Pan card

Residence proof

Electricity bills/passport/voter id/driving license/telephone bills/pan card

Bank Statement

Last six months

 

Interest Rates

Two Wheeler interest rates generally range from 11.50% to 18.25%.

 

How to Apply?

To apply for the two-wheeler loan, visit the link given below

www.magicloans.in

After visiting on the given link above fill the application form online.

Enter your credentials carefully

Your contact number is required so that an executive can call you in no time

All the queries can be handled by customer care

You will get the disbursal on the same day if processing is done smoothly.