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ICICI Bank Two Wheeler Loan
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ICICI bank was founded in 1994, as a financial institution. It solely focuses on project finance, has branched out to provide an array of products and services, directly as well as through its subsidiaries and affiliates. The ICICI is also a bank and the first Indian company from Asia to be listed on the NYSE. As of March 3, 2015, the total assets of the bank is Rs. 6,461,29 billion or the US $103 billion. The bank has a strong presence of over 4000 branches and 13,000 ATMs across the country. The bank has also been recognized with several accolades, including winning seven awards at 'National Award for Excellence in Energy Management 2015', organized by the Confederation of Indian Industry.

Two Wheeler Loan

India is the second largest populous country in the world, and with the increase of working individuals, the purchase capacity of people has also been increased. Indian roads have been flooded with two-wheelers and four-wheelers causing massive traffic jams. Under such conditions, many people prefer two-wheelers to beat the traffic and reach their destinations much faster. For women, having  a two-wheeler like Scooty or Activa is much more convenient than using public transport. Even though two-wheelers are a necessity today, not everyone can afford to buy them. People need financial assistance for buying them. Due to the increase in demand for two-wheelers, loans have been increased to make it affordable to the masses. Having realized this trend, many prominent banks in the country are offering two-wheeler loans at low-interest rates and ICICI bank is prevalent among them.

Rates of Interest in ICICI Two Wheeler Loan

For two-wheeler loans, ICICI bank offers particular interest rates to its customers based on several aspects. Below are some of them:

  1. Customer Profile

  2. Relationship with the customer

  3. Asset Segment

  4. Loan Tenure

Annual Percentage Rate (APR)

APR is a method which assists in calculating yearly credit cost that includes the loan origination fee and the interest rate. The APR for the loan can be calculated by downloading the APR calculator available on the official ICICI bank page.


There are various charges that may be applied as per the aforementioned rates such as service taxes and other government taxes. These charges are used as per the discretion of the bank. Interest Reset Clause is not applicable to Two Wheeler Loans


Q1. What factors will be taken into consideration while determining the rate of interest levied on an applicant for two-wheeler loan?

The interest rates are calculated after examining the customer profile that include loan tenure, customer relationships, asset segment, and  other aspects. Currently, the rate of interest for a two-wheeler loan is fixed at 12.50%.

Q2. For ending the loan tenure earlier than the agreed upon date, what is the prepayment procedure?

If you can afford to pay your loan prior than the tenure end date, then you will be required to pay the full prepayment amount at once.

Q3. How can the Annual Percentage Rate be calculated for two-wheeler loan?

Download the APR Calculator available on the official ICICI portal and evaluate the APR for your two-wheeler loan.

Q4. Will I be charged for the additional documentation?

Yes, you will be charged Rs. 350 extra.

Q5. What is the interest reset clause on loan?

Currently, the interest reset clause is not applicable to ICICI bank loan.