Two Wheeler Loan FAQs 

A two-wheeler loan helps you purchase a new or used bike or scooter with easy EMIs. You borrow the amount and repay it with interest over a fixed tenure.

ICICI Bank offers different types of Two-Wheeler Loans to suit the varied needs of customers. These include a Standard Two-Wheeler Loan for purchasing new bikes or scooters, an Instant Two-Wheeler Loan with quick digital approval for eligible customers, and a Two-Wheeler Loan for Electric Bikes and scooters. These loan options are designed to provide flexible repayment tenures, minimal documentation, and convenient financing for both petrol and electric two-wheelers.

Minimum loan amount: ₹25,000 up to 100% of the on-road price. Tenure: Up to 48 months years (4 years).

Yes. You can apply digitally, upload your documents, and track your application through the ICICI Bank’s website or iMobile Pay app.

Yes. ICICI Bank does offer electric two-wheelers loans with attractive interest rates and flexible repayment options.

Both salaried and self-employed individuals with a stable income can apply.

A score of 700+ ensures better approval chances.

Yes. Joint applications help improve loan eligibility and amount.

ID proof, address proof, latest salary slips, and 3-6 months’ bank statements.

KYC, address proof, ITRs, business proof, and latest bank statements.

Yes. All documents can be uploaded digitally through the ICICI Bank’s portal or iMobile Pay app.

• ICICI Bank’s Net banking or iMobile pay app
• Contact any of our Direct Sales Agents
• Walk into any of our branches
• Call our 24 hour Customer Care number 1800 1080.

Late payment charges and penal interest may apply, and it can impact your credit score.

Yes, you can Foreclose/Prepay your Two-Wheeler Loan.Nominal charges plus applicable GST are levied on the outstanding principal.

To facilitate prepayment of your Two-wheeler Loan, visit an ICICI Bank Branch along with the below mentioned documents to complete the prepayment process:

• Prepayment Statement
• Request Letter signed by the Loan applicant
• Bank Statement reflecting the clearance of the last instalment
• PAN Card (If the closing cash payment is more than Rs 50,000)
• Vehicle Registration Certificate (RC Book Copy)
• Vehicle Insurance Copy
• Mode of payment can be Cheque, Demand Draft or Cash.

Yes. Part-payments reduce your principal balance and help save interest.

Interest is charged only on the outstanding balance, which reduces every month as you make EMI payments.

Repayment can be done through auto-debit, ECS, or e-NACH using Net Banking or a debit card

It compares your current loan with new lender offers to check savings after transfer charges.

Yes. Enter loan amount, interest rate, and tenure in the Bike Loan EMI Calculator to get instant EMI and interest details.

Yes. The Two-Wheeler Loan Eligibility Calculator estimates how much you can borrow based on income, expenses, and existing EMIs.

The calculator provides a month-wise breakup of principal and interest over your loan tenure.

Use the calculator to compare both scenarios — longer tenure gives smaller EMIs; lower rate reduces overall interest.

Yes. Add both applicants’ incomes to estimate a higher eligible loan amount and better EMI affordability.

It helps you check how much interest you save by paying early. Example: Paying ₹20,000 extra after a year can save ₹2,500-₹3,000 in interest.

Yes. A small processing fee (usually 1-2% of the loan amount) applies.

Yes. Nominal foreclosure/prepayment charges apply on the outstanding amount, plus GST.

Interest rates vary depending on customer profile, loan type, and vehicle model.

No. Tax benefits are available only if the two-wheeler is used for business purposes. There are no tax benefits for personal-use vehicles.

• You can contact ICICI Bank through:
• ICICI Bank for a Two-Wheeler Loan Customer Care Number
• iMobile Pay app chat assistant
• Visiting your nearest ICICI Bank branch

A two-wheeler loan is a secured loan where the vehicle acts as collateral and generally offers lower interest rates. A personal loan is unsecured and usually carries higher interest rates.

Yes. You can apply for a two-wheeler loan balance transfer to ICICI Bank, subject to eligibility and bank policies.

Yes. Valid vehicle insurance is mandatory during loan tenure as per regulatory requirements.

Late fees and penal interest are charged, and your CIBIL score may be affected.

Visit any ICICI Bank branch with valid ID proof or raise a service request through Net Banking or the iMobile Pay app.

You can check the outstanding loan balance through Net Banking, the iMobile Pay app, or by contacting customer care.

Log in to the iMobile Pay app or ICICI Bank Net Banking → Loans section → View or download statement.

Visit any ICICI Bank branch with the required documents to initiate prepayment or foreclosure.

• Prepayment / foreclosure statement
• Loan closure request letter signed by the applicant
• Latest bank statement showing last EMI clearance
• PAN card (mandatory if payment exceeds ₹50,000)
• Vehicle Registration Certificate (RC) copy
• Vehicle insurance copy

Once processed, you will receive an acknowledgment and a No Objection Certificate (NOC) confirming loan closure.

The NOC is issued within 5-7 working days after full repayment of the loan.

• Service requests can be raised through:
• ICICI Bank Net Banking
• iMobile Pay app
• Visiting the nearest branch