IDFC First Bank Two-wheeler loans

Are you looking for a two-wheeler loan for buying a dream bike? But don’t know whom to approach? To help you, we are sharing details about IDFC First Bank Two-wheeler loans. The bank has designed one of the best two-wheeler loans to enable everyone in the country to own their motorcycle. The bank offers flexible EMI payment options and a low processing fee. With an interest rate starting at 9.99% p.a., you can avail of a loan and get your two-wheeler.

Key features of IDFC Two-wheeler loan

• Paperless journey
• Zero Processing Fees
• Low down payment
• Instant loan on KYC
• You can avail of a two-wheeler loan at attractive interest rates with rates ranging between 9% p.a. and 22% p.a.
• IDFC Bank will finance up to 95% of the entire cost of the new two-wheeler. You will only have to pay 5% upfront. The tenure of the two-wheeler loan is up to 5 years.

The eligibility criteria to apply for IDFC First Bank Two-wheeler loans

• The minimum age to apply for IDFC First bank two-wheeler loan varies between 18 years to 21 years. The age eligibility is decided based on the credit profile of the applicant.
• Must be a resident of India.
• Must be having a credit score of 750, or above.

Use IDFC two wheeler loan EMI calculator to plan your EMIs

Now with the help of the IDFC two-wheeler loan EMI calculator, calculating EMI is quite simple. As soon you enter the down payment amount, tenure, and interest rate, you will get to know the exact bike EMI amount. The bike EMI calculator calculates the installment based on the balance being reduced. Processing fees or other charges may be imposed, which are not included in the bike EMI computed.

Here are the steps to follow

• Using the first slider, set the principal amount. The value can also be entered directly or adjusted using the ‘+' and ‘-' symbols.
• Utilizing the second slider, adjust the two-wheeler loan interest rate to the correct value. The same can be tweaked with the ‘+' and ‘-' signs, or individually typed in the box.
• The last and third sliders will assist you in determining the desired loan term. Use the '+' and '-' symbols to increase or reduce the value, or manually enter it in the box.
• After that, the calculator will display the exact EMI amount.

Document required to submit for getting two-wheeler loans

• Photograph
• Pan card
• Passport
• Driving license
• Voter ID card
• Ration card
• Aadhaar card
• Landline bill
• Passport
• Property purchase agreement (if you own property)
• Sale deed
  

Online application

IDFC bank allows you to easily purchase a new bike on EMI with minimum documentation a fast and efficient application process. Once you have filled and submitted the online application form, you will be contacted by an IDFC representative, and he/she will help you take the next steps.

Documents submission

Once the representative from the bank contacts you, he/she will provide loan application assistance through the documentation process. The representative will explain how to upload documents online.

Buy the two-wheeler

Once the representative runs you through the process and your two-wheeler loan application has been processed, you will get your loan and you can purchase the two-wheeler of your choice.