HDFC EV Two Wheeler Loan – Electric Bike Loan, Interest Rates
HDFC Bank EV Bike loan, you can benefit from a wide array of features designed to make the experience of purchasing your new bike perfect. From instant disbursal on the loan amount for select preferred customers, to minimal paperwork and 24/7 availability, the power to choose the EV Bike loan lies firmly in your hands.
Whether you are salaried or self-employed, live in a big city or a town, embracing the green change towards electric vehicles is possible with HDFC Bank.
HDFC EV Two Wheeler Loan Eligibility
How can you check your eligibility for electric two-wheeler loan?
Electric two-wheeler loan eligibility is dependent on various factors, such as your age, income, type of employment etc. These loans are typically issued to people who fulfil the following conditions among others:
- They are either Salaried Professionals, Self-Employed Professionals, owners of Sole-Trading Proprietorships and employees or owners at Partnership Firms and Private Limited Companies and Public Sector firms.
- Have an income/annual turnover of at the very least ₹3,00,000 per annum.
- They are between the age bracket of 21 at the start of and 60( for salaried) or 65 (for business owners) at the time of completion of the loan.
- They have a telephone/post-paid mobile phone through which they can be reached.
- For business owners, they should have been in business for a minimum of two years before applying.
HDFC EV Two Wheeler Loan Fees & Charges
Charges to avail a Two Wheeler Loan
| Fee | Amount to be paid |
|---|---|
| Rack Interest Rate | EMI starting from 14.5% basis vehicle segment and customer credit worthiness. |
| Loan Processing Charges | Upto 2.5% of the Loan Amount
NIL Processing Fees for loan facility up to Rs. 5 Lakh availed by Micro & Small Enterprises subject to URC submission prior to disbursal |
| Stamp Duty & Other Statutory Charges | As per applicable laws of the state |
| Documentation Charges | Up to 2% of the loan amount |
| PDD Collection Charges | Up to Rs 500/- |
| RTO Charges | At Actual |
HDFC EV Two Wheeler Loan Documentation
The documents required by Salaried Individuals and Self-Employed Individuals (Sole Proprietorship) are:
For identity proof, any of the following:
- Permanent Driving license (which is relatively recent, legible and not laminated)
- Valid Passport
- Voters ID Card
- Job card issued by NREGA
- Letter issued by the National Population Register containing details of name & address
- Aadhaar Card(backed by Aadhaar consent Letter)
For proof of income:
- Latest salary slip and Form 16
- Bank statement of the previous 6 months
For Self Employed Individuals (Partnership Firms, Private Limited Companies, Public Limited Companies):
1. All the following documents must be submitted as income proof:
- Your Audited Balance Sheet
- Profit & Loss Account of the previous 2 years
- Company ITR for the previous 2 years
2. Any of the following documents as address proof:
- Telephone Bill
- Electricity Bill
- Shop & Establishment Act Certificate
- SSI Registered Certificate
- Sales Tax Certificate
3. Bank statement of the previous 6 months
