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You are the proud owner of this two wheeler, which accompanies you wherever you go and every time you think about making it different from others. Yes, it is a motor bike, passion of today’s younger generation. But to get a motor bike is not at all an easy task today. With the price of bikes soaring high, it needs a good finance to avail a bike of your choice. However, with the help of motor bike loans, the youngsters of India can always get finance for bikes.

There are innumerable lenders in the loan market, who provide motor bike loans on competitive rates. However, before selecting any lender, you should research properly. You should compare every offer of motor bike loans on the basis of its annual percentage rate. From the loan quotes provided by the lender, you can understand the details of annual percentage rate. After getting all possible inputs regarding this annual percentage rate and other loan terms, you can choose the best offer.

Now, you can get motor bike loans both as secured and unsecured form. If you are ready to place your home or any related assets as security, you can get motor bike loans in secured form. Whereas, if you do not own any property or do not want to place any security for the loaned amount, you can avail these loans in unsecured form.

Two Wheeler Loan from ICICI Bank

Income Requirement
For Salaried
Minimum Age
21 yr.

Maximum Age
60 yr.

Income

For Loan amount less than equal to Rs. 60000

A category cities -
(Mumbai, Delhi, Calcutta, Hyderabad, Chennai and Bangalore)
two wheeler loans financial services, two wheeler loan repayment schemes     Minimum gross salary of Rs.5000/- per month for funding amount icici two wheeler loans, icici two wheeler finance     Minimum gross salary of Rs.6000/- per month for funding amount greater than or equal Rs.45000

For B Category cities-
(All other cities excluding "A" category cities)
two wheeler loans interest rate     Minimum gross salary of Rs.4000/- per month for funding less than Rs. 45000
low interest two wheeler loan     Minimum gross salary of Rs.5000/- per month for funding greater than or equal Rs.45000

For Loan amount greater than Rs. 60000

Gross salary to be Rs 7500 for all cities.

For Self Employed
Minimum Age
21 yr.

Maximum Age
65 yr.
For self employed/ proprietorship /partnership firm
For funding amount less than equal to Rs.50000, gross income (PBDT) of Rs.42k per annum as per ITR and computation
Tax Challans aggregating to greater than 15000(equivalent to declared annual income of Rs. 42000)
For funding amounts greater than Rs.50000, gross income (PBDT) of Rs.60000 per annum as per ITR and computation
For Partnership Firms:
Income is calculated as: Net Profit + remuneration to Partners + interest on partner’s capital + depreciation
Tax Challans aggregating to greater than 15000
For Private /Public ltd. Co’s:
Minimum PBDT of Rs.60000
PBDT shall be calculated as:
Net Profit + Depreciation + Tax
( In all cases of Partnerships or Pvt ltd. Companies the Partner/Director would mandatory be taken as a co applicant )

Sources : http://www.icicibank.com/