General FAQs


Who is eligible to apply for an InCred Two-wheeler Loan?

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Any earning person be it Salaried or Self Employed can apply for InCred Two-wheeler Loan. Applicant should meet the following criteria

  • Applicant should be above 18 years of age.
  • Applicant should have been in employment for at least 6 months or been running a business for at least 1 year.

What is a Two-wheeler Loan?

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A Two-wheeler Loan is the loan taken for the purchase of a scooter or a bike. It’s a secured Loan which has a hypothecation in favour of financier which is the bike. The hypothecation can be removed once the loan is matured.

How can I avail a Two-wheeler Loan from InCred?

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You can avail a Two-wheeler Loan from InCred through our website by filling up a simple form and if eligible, you will get a call from our representative to process the loan. You can also visit your nearby Two-wheeler Showroom and our InCred representative will process your Two-wheeler Loan there.

Application & Documentation

What all documents do I need to give you?

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You can avail the InCred Two-wheeler loan by providing your KYC (As per RBI norms) and 3 months Bank Statements.

What do you mean by KYC document?

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KYC documents are the set of documents defined by RBI to gather the information about Identity and address of the customer, so that banks can provide better offering and services to the customer.

Is there a fee or charge to apply?

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No fee is charged till the process of sanction of the Two-wheeler Loan. Although charge will be applied if the loan is disbursed.

How long does it take for my application to be processed?

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Once you provide all the required documents, it will take 30 -45 min to get the loan approved. The disbursement process might take a day.

Will I be required to provide additional documents or information at any stage after applying?

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No, you will not be asked for any additional documents post the disbursement of the loan. All the required documents will be taken by you at the time of application.

Loan & Financial Related

The Interest on my loan is Fixed or Variable?

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The Interest charged on your InCred Two-wheeler loan will be a fixed rate. You also have the option to decide your loan tenure that can range from 12 to 36 months, which helps you plan your EMI amount. As the Interest rate is fixed, the applicant remains protected from hike in market rates in future.

How much is the Rate of Interest and Processing Fees?

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The ROI varies from 10% to 13% depending on the profile and the vehicle you want to borrow. The processing fees also varies from 0% to 4% of the loan amount .

Is there any Benefit if I avail the Two-wheeler Loan from InCred?

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InCred has a vast range of offerings in terms of rate of interest and funding amount. You can avail a Two-wheeler loan of up to 95% of your vehicle price. We also offer loans for flexible tenure ranging from 12 to 36 months.

What is the maximum loan InCred offer for Two-wheeler?

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With InCred, you will be able to get your favourite two-wheeler easily. InCred offers up to 95% of loan on your vehicle cost.

Repayment related

How can I remove hypothecation on my two-wheeler after I have repaid the Loan?

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After you have repaid the complete two-wheeler loan, you will have to collect the No Objection Certificate (NOC) from InCred. You can collect this from your nearby InCred branch. Post that, you must submit it to your local RTO (Regional Transport Office) to remove the hypothecation from the vehicle.

Can I repay the loan before my loan tenor expires?

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Yes, you can repay the entire loan amount before the tenure expires. Although you will be charged with some foreclosure charges which will be applicable on the principal outstanding amount.

How do I repay my loan?

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The repayment of Two-wheeler loan is usually done through EMIs which is derived from the rate of interest and tenure of loan. In case you want to repay the full amount, you can foreclose the loan; although you will be charged with some foreclosure amount which will be applicable on the principal outstanding.

At what period of time I can repay my entire two-wheeler Loan?

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If you wish to repay the entire loan and do not want to pay through EMIs. you can repay it once the loan is matured for at least 6 months.