Two Wheeler Loan

ICICI Bank Instant Two-Wheeler Loan offers paperless and digital sanction letter of up to 100% of the On-Road price of the bike of your choice

Avail Two wheeler loans with easy documentation facility. An indicative list of documents required according to the profile is given below

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Avail Two wheeler loans with easy documentation facility. An indicative list of documents required according to the profile is given below

Documents Salaried Self Employed Professional
Application form
Identity Proof
Address Proof
Age Proof
Bank Statements
Signature Verification
Income Proof
Latest Salary Slip / Form 16
Income Tax Returns of 2 previous financial years
Other Documentation
Business Stability proof / Ownership proof
Employment Stability Proof

Two Wheeler Loan Service Charges

Description of Charges Charges Amount
Non-Refundable Loan Processing Fee: Non-Premium/Premium Vehicles 2.5% of Loan amount or Max ₹ 2500/-
Non Refundable Loan Processing Fee: Super Premium Vehicles 1% of Loan amount or Max of ₹ 5000/-
Documentation Charges ₹ 2.25% of Loan amount or Maximum of ₹ 1000/-
CIBIL Report Charges ₹ 50
Registration Certificate Collection Charges ₹ 499
Part Prepayment Option Part prepayment of the loan is not allowed
Full Prepayment Charges 5% on principal outstanding or interest outstanding for unexpired period of loan (whichever is lower)
Charges for late payment of loans 2% per month on the outstanding instalment
Swap Charges ₹ 500 per transaction
Bounce Charges ₹ 400 per transaction
Amortisation Schedule Charges ₹ 500 per schedule
Statement of Account Charges ₹ 200 per statement
Prepayment Statement Charges ₹ 200 per statement
Duplicate No Objection Certificate (NOC)/No Due Certificate (NDC) Charges ₹ 500 per NOC/NDC
Revalidation of NOC Charges ₹ 500 per NOC
Loan Cancellation Charges ₹ 3,000 per loan
Miscellaneous charges viz. charges incurred in filing legal suit, repossession charges, Non Maintenance of Mode of Payment (NMMP) charge, pick-up charges) wherein customer requests for a pickup of the payment, professional charges for availing services of professionals i.e. title search, valuation, etc., charges incurred in SARFAESI proceedings, paper advertisement charges, auction charges for repossessed asset, security guard charges for protection of repossessed assets, yard charges for parking the repossessed asset in authorised yard, enforcement charges for availing logistical support during repossession, charges incurred in sending different notices, charges levied for deposition of cash/cheque in branches for the purpose of paying loan dues and any other charges (as applicable) that are not budgeted or specified, but are incurred by the bank on behalf of the customer. At actuals
  • Service Tax (ST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates in addition to the above mentioned charges.
  • The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over the site.
  • Interest Reset clause: Not Applicable.
  • The above mentioned charges would be applicable for existing customers from March 31, 2016.
  • Stamp duty charges shall be extra as applicable
  • Additional documentation charges of Rs.350/- applicable
  • ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion

Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.

Two Wheeler Loans FAQ’s