All You Need to Know About Two-Wheeler Loans

Two-wheelers are great for manoeuvring through congested city streets. If you have your eyes set on a scooter or motorcycle but do not wish to spend all your savings buying it, choose a two-wheeler loan.

Why Take a Two-Wheeler Loan

Two-wheeler loans offered by banks and financial institutions are an effective way to finance your purchase without spending a fortune. Since you only have to pay fixed Equated Monthly Instalments (EMI) to the lender, most of your cash will be free for personal use.

Benefits of a Two Wheeler Loan

Most two-wheeler loans are easy to repay and can boostyour creditworthiness if you are afirst-time borrower. A good credit score comes in handy when looking for biggerloans in the future.Since you have to pay EMIs on your two-wheeler loan,you will also learn to manage your finances effectively. Moreover, if you are timely with your repayments, this will further boost your credit score.

Budgetary concerns may keep you from buying a two-wheeler of your choice. With a two-wheeler loan however, you are easily able to afford the vehicle of your choice without having to worry about the finances.

Basic Covenants You Should Know

1.To apply for a two-wheeler loan, you need the following documents:

• Proof of Identity (AADHAR card, Passport, PAN Card etc.)
• Proof of Address (Utility bills, AADHAR card, Passport etc.)
• Income Proof or Proof of Business
• Bank Account statements of the past 3-6 months.
• Passport-sized photographs
• Completed Paper/Online Loan Application

2.Both salaried and self-employed individuals qualify for a two-wheeler loan. To check your two-wheeler loan eligibility for a loan with IndusInd Bank, you can visit this link.

3.Two-wheeler loan interest rates depend on several factors like your income, age and chosen vehicle type and model. These vary from lender to lender. At IndusInd Bank, we offer attractive interest rates on our two-wheeler loans.

4.Repayment tenures for most two-wheeler loans are flexible and can be adjusted to suit your cash flow and income. Stay away from lenders whodo not offer customised repayment tenures.

5.Two-wheeler loans do not require any collateral or security because your vehicle is hypothecated in the name of the lender until you repay the entire amount, and the interest and fees associated with the loan. In case you fail to repay, the lending institution can seize your vehicle.

How to Choose the Right Lender

Selecting an appropriate lender is extremely important for anyone who wants a hassle-free loan. While choosing a lender, keep the following in mind:

• Choose a lender that offers competitive interest rates. A two-wheeler loan with an exorbitant interest rate is financially damaging, while oneswith ultra-low interest rates usually have hidden costs. Before opting for alender, clarify all the terms related to interest rates and additional loanprocessing, foreclosure and pre-payment fees

• Choose lending institutions that allow you to apply for two-wheeler loans online. This will save timeand prevent you from spending long hours completing paperwork

• Opt for lenders that offer quick disbursals, instant loanapprovals, simple documentation and flexible repayment tenure. Also, look forones that provide processing fee discounts or special discounts on interestrates or processing fees

At IndusInd Bank, wemake  applying for and securing a two-wheeler loan extremely convenient.We offer discounts on loan processing fees to our existing customers. Ourdisbursal process is quick and we do not ask for complex documentation. Get intouch with us today!

It’s the start of a much-awaited vacation. Your plans for the holidays are all set. You are looking forward to unwind from the humdrum routine of life with an extended road trip. The journey seems to be turning out as planned, except that you didn’t really anticipate the time and fuel you needed to waste in long queues at the toll booths. The struggle to remain calm despite the chaotic traffic is real – at the back of your mind, all you can think about is zooming past the toll booth without having to spend every ounce of your patience behind dozens of fellow impatient drivers. Well, there is a way out – no, not out of the toll booth but out of the hassle of waiting in long queues at such booths – FASTag highway toll payments.

What is a FASTag?

Operated by theNational Highway Authority of India, FASTagis an online highway toll payment optionthat uses Radio Frequency Identification (RFID) technology to make paymentsdirectly from a linked pre-paid wallet or a bank account linked to it. This tagis attached to the vehicle’s windshield once the tag account is activated.

In simpler terms, a FASTag allows you to enjoy a hassle-free highway trip as you do not need to stop at the toll plaza for making cash transactions. By December 1, 2019, the Road Ministry is expected to convert all lanes in the fee plaza as FASTag lanes, which means it may become mandatory to have a FASTag on your vehicle or pay higher toll fees. The government is doing so to promote digital payments at toll plazas and reduce congestion on national highways toll plazas, since cash transactions consume a lot of time.

Features of a FASTag

• A FASTag can be issued for a low fee of Rs. 100, inclusive of GST charges
• A security deposit ranging from Rs. 200 to Rs. 500 is required to issue the tag. This amount depends upon the category of the vehicle
• To get a FASTag, all you need to do is approach your bank’s nearest branch and get your KYC done through documents (original as well as photocopies), passport size photographs, and vehicle documents such as Registration Certificate. Note – For each vehicle, you need to get a separate FASTag
• Once the tag has been activated, it is attached to the respective vehicle’s windshield and is valid for a period of five years, following which the tag needs to be re-issued
• After your tag has been activated, you can easily recharge it at any time, from anywhere, via a number of available options – UPI, net banking, credit cards, debit cards, etc.
• At present, the FASTag facility has been made available at almost 420+ toll booths and plazas across National and State Highways. These numbers are increasing with each passing day

Benefits of a FASTag

• Perhaps the most important benefit of a FASTag is convenience; as you do not need to fumble for cash every time you pass through a toll booth
• A FASTag can easily be recharged online
• When you pass through a toll booth, you will receive SMS alerts, informing you of the name of the booth you just passed and the amount of toll that was deducted
• Thanks to the FASTag, you can save on fuel charges and time wasted in waiting at the toll booths
• The introduction of the FASTag is leading to centralised monitoring and better management of the highways
• Traffic problems can be significantly reduced due to the implementation of a FASTag
• The FASTag is environment-friendly – Digital payments instead of manual payments save paper, and thus trees, and better traffic control tackles the issue of air pollution.
• Enjoy the added benefits of 2.5% cashback on all toll payments (valid till March 31^st, 2020)

Where Can I Get a FASTag?

Applying for a FASTag is easy and hassle-free. You can apply for a FASTag online with IndusInd Bank. Enjoy the added benefits of 2.5% cashback on all toll payments (valid till March 31^st, 2020), auto recharge, and auto allocation facilities where your tag will be funded automatically on reaching low balance, provided sufficient funds are available in your bank account. So, don’t wait and apply for a IndusInd Bank FASTag today!

It’s a balmySunday and you are looking forward to an evening of shopping, coffee, andconversations with your girlfriends. After several rounds of street food, youwaltz into your favourite clothing outlet, and shop for a few things you like.At the payment counter, you dip your hands into your handbag and much to yourhorror and dismay, discover that you’ve forgotten your credit and debit cardwallet at home. Your metro card and I-cards are all this bag contains. Youchide yourself for being forgetful, but are suddenly confronted with thethought that it can be hard to handle somany cards.

What if youcould use a single card both for commuting across Delhi Metro and for shopping?Well, with the IndusInd Bank TitaniumMetro plus Debit Card, this is no longer wishful thinking. Let’s find outhow.

What is the IndusInd Bank Titanium Metro plus Debit Card? To offer you a hassle-free commute and seamless shopping experience, the IndusInd Bank Delhi Metro Debit Card can give you the best of both worlds – the embedded DMRC Transit Chip allows you to use the card as a Smart Card on the Delhi Metro Rail Corporation (DMRC) network across Delhi NCR and the embedded Debit Card Chip allows you to use it for shopping, depositing money at the ATM, withdrawing money from it, and much more.

Features of IndusInd DMRC Card:

With IndusIndBank’s Titanium Metro plus Debit Card,you get the following features –

• Easy access to any of the 2200+ IndusInd Bank ATMs across India for cash deposits and withdrawals, Cheque deposits, balance enquiry, MasterCard credit card bill payment facility, mobile top-up recharge, etc.
• Easily shop at 4 lakh+ merchants across India and over 33 million merchants across the world
• You can also use the card to easily shop online, make e-payments and bill payments
• The unique feature of InstaPIN allows you to easily generate your debit card’s permanent PIN number within seconds. All you need to do is visit the nearest ATM and select the InstaPIN option
• Credit Card bill payment over the ATM or online (only applicable on MasterCard)
• Cashless shopping with MasterCard debit card
• Mobile top-ups at ATMs
• The card can be used as a smart card across all metro stations in Delhi NCR
• The daily card limit is Rs. 50,000 for ATM and Rs. 1, 00,000 for shopping (at physical or ecommerce stores).
Note – In case you use other bank ATMs, you may need to make multiple transactions due to different transaction limits set by different banks.


• You get a complimentary card insurance where the Lost Card Liability is offered to the tune of Rs. 1,00,000, and Purchase Protection is offered to the tune of Rs. 50,000
• Access to our unique loyalty program, IndusRewards, where you are rewarded for your purchases at merchant outlets and online shopping using your IndusInd Bank MasterCard Debit Card. You can select the free gifts from our Rewards Redemption Catalogue 
• You can enjoy exclusive offers on the IndusInd Bank Titanium Metro Plus Debit Card on items such as electronics, apparels, jewellery, dining, travel, wellness and other categories related to lifestyle.

IndusInd Bank Titanium Metro plus DebitCard Benefits

• You can use your debit card directly as a Metro Smart Card for transit at DMRC Network across Delhi NCR
• You can ditch the queues for top-up recharge as the Metro Chip gets recharged with Rs. 200 automatically when the balance falls below Rs. 100
• With the IndusInd Bank Titanium Metro Plus Debit Card, you can enjoy a discount of 10% on all your Delhi metro fares offered by DMRC
• You can also avail the Buy One Get One Free offer on movie tickets once every quarter (that is, up to four times a year), subject to the following conditions – The offer is available on ticket prices up to Rs. 250 when booked via BookMyShow and is offered on a first come first serve basis

Apply for your IndusInd Bank Titanium Metro plus DebitCardtoday!