IDBI Bank Two-Wheeler Loan

Features and Benefits

The main features and benefits of the two-wheeler loan offered by IDBI Bank are mentioned below:

1. Loans are provided for high-end bikes.
2. Loans are provided at attractive interest rates.
3. Maximum funding is provided.
4. The cost of the bike must be at least Rs.1.20 lakh.
5. Flexible repayment tenure.
6. The bank has tied up with several manufacturers and dealers to provide loans.

Process to Apply for a Two-Wheeler Loan

The procedure to apply for a bike loan from IDBI Bank is mentioned below:

1. Visit https://www.idbibank.in/auto-loan.aspx#homeOverview.
2. Click on 'Apply Now'.
3. Click on 'Apply Online'.
4. Next, select 'Auto Loan'.
5. Next, select whether you have an account with IDBI Bank.
6. Entered the required details on the next page.
7. Click on 'Submit'.
8. An IDBI Bank executive will contact you to process the request.

Eligibility Criteria

The eligibility criteria that must be met by self-employed individuals and salaried employees are mentioned below:

Self-Employed Individuals

1. You must be at least 18 years of age.
2. You cannot be more than 70 years old when the loan matures.
3. You must be in your profession for at least 2 years.
4. Your minimum annual income must be at least Rs.2.40 lakh.

Documents Required

For Self-Employed Individuals

1. Application form
2. Proof of residence (owned)
3. Repayment track record
4. Bank statement
5. Income Tax Returns (ITR)
6. Proof of identity
7. Proof of address
8. Passport-size photographs
9. Quotation provided by a recognised dealer
10. Profit and loss account
11. Balance sheet
12. Guarantor's application

For Salaried Employees

1. Application form
2. Bank statement
3. Proof of income such as salary slips (three months), Form 16, or ITR
4. Proof of address
5. Proof of identity
6. Passport-size photographs
7. Guarantor's application

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