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  • Two Wheeler Loan Eligibility

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    Owning our own vehicle, be it a car or a bike is a luxury for most Indians. Most of us feel it is a necessity to own a two wheeler at least in order to improve our lifestyle. Most of us are also not fortunate enough to have a large sum of money at our disposal. The best option, many of us find, is to get a two wheeler loan so we can finance that dream bike.

    Two-Wheeler Loan Eligibility Criteria
    Particulars Eligibility Criteria
    Age 18 or 21 years to 65 years
    Employment status Salaried or self-employed
    Preferred credit score 750 and above
    Employment tenure At least 6 months in the same job
    Minimum income Pretty low
    Residential stability Applicant should be residing in the same space to show residential stability
    Permanent telephone number Required

    Perfect Personal Loan Deals for you

    The best thing about getting a bike loan is the fact that you can get the bank to pay for up to 85% of the bike's price, which is a huge sum. Afterwards, you can simply pay off the debt in affordable EMIs (Equated Monthly Instalments). However, it will be a rough ride for you to pick the perfect bike loan among the many in the market, each with different terms and features. This means that you will have to do your homework well and research each deal before finalizing one.

    In order to get a bike loan you must meet certain qualifications, and each bank or finance company will have slightly different criteria that must be met. However, a lot of the criteria to be eligible for a bike loan is the same, and they are as follows:

    Also Read: Two Wheeler Insurance.

    • Employment: You must either be employed by a company (salaried), or be self-employed.

    • Age: Many banks offer bike loans to those who are 18 years or older. Many accept applications from only those who are 21 and above. The maximum age limit to apply for a bike loan is generally 65 years, but this may also vary depending on the bank.

    • Work experience: It is true that many banks offer bike loans to even students (under certain conditions), but most banks give preference to those who have a minimum of one year of work experience.

    • Minimum income: Different banks have different expectations when it comes to the minimum monthly income that is required of you that will make you eligible for a loan. In general, a minimum of Rs. 5000 per month is the required income that will make you eligible for a bike loan from most banks.

    • Landline number: It is often necessary in most banks that you provide a landline number of either your residence or office.

    • Residence: Some banks will require that you have been living at the same residence for over a year.

    • Credit History: A good credit score will make it easier for you to get a good deal on your two wheeler loan. Try to maintain a good credit history in order to get the best deal possible. Even if your credit history is not in the best shape, chances are that you will still be approved a two wheeler loan, but the terms will not be as great as it would be if you have a good credit history. Sometimes, even the issue of a bad CIBIL score can be skirted with when taking a bike loan because it comes under the category of a secured loan, your bike being the security.

    • Documents needed: There is a list of documents that you will require to provide to the bank when you apply for a bike loan. This list may vary slightly depending on the bank, but in general these are the documents that you must keep ready:

      1. Address proof: You must provide any address proof which prove that your current address is what you claim it to be. Some of the address proof that you could provide are your Passport, Driver's License with the current address printed, Voter's ID, Utility bill (electricity/landline bills) or rent agreements.
      2. ID Proof: a document that proves your identity such as Passport, Pan card, Driver's license, Voter's ID card.
      3. Income proof: One of the criteria that the bank will need you to meet is the minimum income that you earn per month. You must provide proof in the form of salary slips of the last 3 months, Latest form 16, Bank Statement reflecting salary credits for the last 3 months and last employer's salary certificates.
      4. Photographs: You will need to provide a number of recent passport size photographs.

    You May Like To Read : Two Wheeler Insurance Online.

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    News About Two Wheeler Loan Eligibility

    • Discounts and freebies offered on bikes by Kawasaki India

      Kawasaki India is offering discounts and multiple freebies on some of its bikes for a limited time period. The deal on the Kawasaki Z250 is a cashback of Rs.5,000 or a sports bag. The deal on the Kawasaki Z650 is a cashback of Rs.9,000 or a meter cover with a smoked windshield. The deal on the 2018 Kawasaki Ninja 650 candy plasma blue edition is a discount of Rs.6,000 on the asking price. The deal on the 2017 Kawasaki Versys 650 is a cashback of Rs.10,000 and a free top case. The deal on the 2018 Kawasaki Versys 650 is a cashback of Rs.5,000 and a free top case.

      These deals are ongoing from 20 August 2018 until 30 September 2018. As Kawasaki is gearing to clear its stocks, these deals and freebies are a part of its monsoon offer for this year.

      21 September 2018

    • Confederate Motorcycles Make a Comeback With Combat Bomber Bike

      According to the official Facebook page of Confederate Motorcycles, the company plans on making a comeback by rebranding itself to Curtiss Motorcycle Company and introducing a new Confederate Hellcat by the end of 2019 followed by a newly designed Confederate Wraith. While many believed that the rebranding meant that Confederate motorcycles will no longer be built, the company has been revived by venture capital fund - Ernest Lee Capital. The high-end bikes from the popular two-wheeler manufacturer will now be produced in Birmingham, AL. Not only has the official website of Confederate Motorcycles has been updated to showcase new and pre-owned bikes, but the company also has plans to introduce 3 new models - Confederate Fighter, Confederate Hellcat, and Confederate Wraith.

      Soon after the rebranding to Curtiss Motorcycle Company Inc., Ernest Lee Capital LLC made announcements mentioning that it has acquired the intellectual property rights to the brand and designs of Confederate Motorcycles. Not long after, Confederate Motorcycles announced that it intends to sell the remaining Confederate FA-13 Combat Bombers and P-51 Combat Fighters before starting production of the new Confederate G3 Fighter. As per the statements of Ernest Lee, the company is currently designing the next volume of bikes to be launched with various customer-selectable options.

      20 July 2018

    • Yamaha to Introduce YZF-R15 MotoGP in India in August 2018

      Yamaha - a two-wheeler manufacturer based in Japan - has decided to launch the YZF-R15 MotoGP edition in the Indian market in August 2018. While the new R15 Version 3.0 will now be available in blue similar to the factory MotoGP bike, the motorcycle will also feature an ENEOS logo on the belly pan as well as the Movistar logo on the front and sides. However, the bike will not sport the racing numbers of the MotoGP stars of Yamaha such as Maverick Vinales, Valentino Rossi, etc.

      While the R15 MotoGP edition is available for sale in a few Southeast Asia markets, the model to be launched in India is expected to be similar to the R15 V3.0 undergo apart from the cosmetic updates. Furthermore, the internationally available R15 MotoGP edition carries a USD fork at the front end. However, the India-spec variant is likely to be outfitted with a conventional telescopic fork, much like the current R15 V3.0.

      The ex-showroom price of the Yamaha R15 V3.0 in Delhi is Rs.1.26 lakh and comes in two colour variants - Racing Blue and Thunder Grey. However, the price of the new Yamaha R15 MotoGP edition is likely to fall under the premium segment as opposed to the standard bike.

      13 July 2018

    • New Honda Cars’ CEO Keen to Learn From Motorcycle and Scooter Experience

      Despite being in India for under two months, Guru Nakanishi, the CEO and President of Honda Cars India, says that he has already understood the potential of the market, adding that he is very excited to be part of a market that is quickly growing. He said that the market in which he now operates has plenty of potential for growth as it is basically a two-horse race because Hyundai and Maruti Suzuki are covering two-thirds of the market. He also said that he would want to work closely with Honda’s two-wheeler segment and maximise synergies in order to drive the brand in the market.

      31 May 2018

    • Honda and Bajaj Race Towards Second Spot in Bike Industry

      In the race for the second position in the motorcycle industry, Honda Motor Company has reduced the gap between Bajaj Auto by expanding its outreach in India. With an increase in demand in the rural areas of the country, Honda has been close to surpassing the bike sales of Bajaj Auto for the previous financial year. While Bajaj Auto had sold 1.97 million motorcycles in the FY 2017-18, Honda Motorcycle and Scooter India (HMSI) sold 1.95 millions units for the same period of time. Furthermore, the sales of Honda were greater than that of Bajaj in 7 months out of 12 as well as during the start of the current financial year.

      The reason for Honda’s success can be attributed to the fact that Bajaj is still trying to cope with the lack of a strong product in the 125cc segment whereas Honda has created a strong hold in the area. Due to this reason, Honda witnessed a 27% growth in the FY 2018 while Bajaj had 1.33% decline in sales for the same duration.

      18 May 2018

    • TVS XL100 Heavy Duty i-Touch Start Soon to Reach Indian Markets

      TVS Motor Company is set to launch the TVS XL100 Heavy Duty 'i-Touch Start' with an integrated starter generator system that offers an electric start system. Offering a great performance and excellent pick-up with a high-spark energy engine, the scooter is available in 7 different colour variants - T. Grey, Red, Green, Blue, Black, Copper Shine, and Mineral Purple. The bike is powered by a 99.7cc, 4-stroke, BS IV compliant engine that is capable of generating maximum power at 6,000 rpm and peak torque at 3,500 rpm. The TVS XL 100 Heavy Duty 'i-Touch Start' feature numerous design details that give it a striking appearance such as an eye-catching ''Heavy Duty'' logo with USB charger, vibrant graphics, and alluring LED Daytime Running Lamps (DRL). The ex-showroom price of the bike in New Delhi is Rs.36,109.

      25 April 2018

    • Bajaj Auto Discontinues the Pulsar 135LS Due to Less Demand

      Even after the repeated efforts of Bajaj Auto to resurrect the Pulsar 135LS over the years, the company has finally decided to pull the plug on the bike. This move will make the Pulsar 150 the new entry-level motorcycle in the entire Pulsar range with an ex-showroom price of Rs.74,074. Introduced in 2009 as a sporty bike, the Pulsar 135LS refused to entice the Indian customers even after witnessing a myriad of upgrades last year and a price cut by Rs.5,000. The lack of the Indian buyers towards the bike has led Bajaj Auto to discontinue it in the Indian market. While the motorcycle will continue to remain in stock at other global markets, all the Pulsar 135LS at Indian dealerships have been sold out and further bookings of the bike is not being accepted anymore.

      9 April 2018

    • Honda releases 2018 CB Hornet 160R bike in India

      Honda, leading bike manufacturer, released the Hornet 160R in India very recently. It is a sporty commuter motorcycle that comes with an engine capacity of 160 cc. The user of this bike can enjoy a digital instrument cluster, LED headlamp, body decals, single-channel ABS, etc. The price of this vehicle model ranges from Rs.84,675 to Rs.92,675. This bike model will most likely compete with TVS Apache RTR 160, Suzuki Gixxer, Bajaj Pulsar NS 160, and so on. The maximum power of this bike is 14.7 bhp and the maximum torque is 6,500 rpm.

      29 March 2018

    • Brand new Royal Enfield Thunderbird X bike series released in Dimapur, Nagaland

      Royal Enfield, leading bike manufacturer, recently introduced its Royal Enfield Thunderbird series with bike models known as Royal Enfield Thunderbird 350X and 500X. These 2 models were recently released at a showroom in Dimapur. The bike models were released by Temjen Along Imna, Minister Higher and Technical Education. The Thunderbird X is the first motorcycle that has been released with 9-spoke black alloy wheels. Both the bike models will have matte black engines. The brand new Thunderbird 350X is priced at Rs.1.56 lakh and the Thunderbird 500X is priced at Rs.1.98 lakh.

      20 March 2018

    • TVS Motor Company to Unveil a New Commuter Bike

      According to reports, TVS Motor Company will soon launch a new 100cc commuter motorcycle namely TVS Prestige. Expected to be equipped with the same engine as the TVS Sport, the bike will be powered by a single-cylinder, carbureted drivetrain coupled with a 4-speed manual transmission to generate a maximum power of 7.4 ps at 7,500 rpm. Being similar to the TVS Sport, the manufacturing company claims that the new commuter motorcycle will be able to grant a maximum mileage of 95 kmpl using a 4-speed gearbox. The starting price of the TVS Prestige will be Rs.45,000 approximately. The bike will also feature a 5-year standard warranty similar to the TVS Sport. Apart from the TVS Prestige, TVS Motor Company is currently believed to be working on a few cruiser bikes based on the Zeppelin Concept.

      27 February 2018

    Essential Two Wheeler Loan Pages
    Two Wheeler Loan by Banks
    Two Wheeler Loan Articles

    Customer Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Best Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      My experience with HDFC bank for two wheeler loan was good, the loan amount was for Rs 45000 with nominal interest rate when compared to others. Customer service was good and they followed up on time. The tenure period for this loan was for 10 months.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 20, 2018
    • Punjab National Bank Two Wheeler Loan
      "GOOD SERVICE"
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      I have taken my bike loan with PUNJAB NATIONAL BANK , customer support and their response is good with this bank . Rate of interest is is 11% and it is too high compare to other and tenure period is 36 month . They charge 1500 of processing fee and it is nominal .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 18, 2018
    • HDFC Bank Two Wheeler Loan
      "Average"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      My two wheeler loan was taken with HDFC bank 1 year back. The loan amount was 65,000. The customer service and responses was good. The interest rate was satisfactory . The tenure period was 2 years. The documentation was very good and there is no inconvenience at all.
      Was this review helpful? 3
      , kolkata
      Reviewed on Sep 15, 2018
    • review Two Wheeler Loan
      "Good service"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with Bajaj finserv and my experience was good, the loan amount was for Rs 1.20 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 14, 2018
    • Tata capital Two Wheeler Loan
      "Good service"
      TATA CAPITAL LIMITED
      0.5 4.0/5 "Great!"
      I had taken this automobile loan for the purchase of my Royal En-field Bullet and the process in getting this loan had been good. The interest rate with them has been little high when compared with the market rate, and the customer support and their staff responses where good.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 14, 2018
    • review Two Wheeler Loan
      "Not satisfied with the service"
      BAJAJ FINSERV
      0.5 2.0/5 "Expected more"
      The Two Wheeler loan experience i had with them has not been that much satisfactory, the loan amount which they had provided had been less than what i expected. The interest rate with them has been on the higher end, and their customer support and their response had been not that good.
      Was this review helpful? 2
      , pune
      Reviewed on Sep 14, 2018
    • review Two Wheeler Loan
      "Not satisfied with the service"
      INDUSIND BANK LTD
      0.5 2.0/5 "Expected more"
      I had taken this loan in the year of 2012 and the experience had not been that great. The loan amount which they had provided has not been satisfactory and the rate of interest has been high. There has not been a proper response which they have made from their customer support team.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 14, 2018
    • HDFC Bank Two Wheeler Loan
      "Looking for less interest rate"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 41000 where i pay an EMI of Rs 2400. The rate of interest was high when compared to others. Customer service was good and the tenure period for this loan is 24 months.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Sep 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 70000 with nominal interest rate when compared to others. Customer service was good, i pay an EMI of Rs 2400 and the tenure period is 24 months.
      Was this review helpful? 1
      , gulbarga
      Reviewed on Sep 12, 2018
    • review Two Wheeler Loan
      "Good service"
      INDUSIND BANK LTD
      0.5 3.5/5 "Pretty good"
      I have taken a two wheeler loan with IndusInd bank and my experience was good, the loan amount was for Rs 50000 with high interest rate in the market. Customer service was good and they followed up on time. The tenure period for this loan is 18 months.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 12, 2018
    • review Two Wheeler Loan
      "Good Service"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I've applied for a bike loan from the Bajaj Finserv, it was a complete paperless application and approval. . The interest rate was very high. They need to regulate the interest rate and make it in par with the market rate.
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 11, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I've taken a business loan from the HDFC bank. The loan amount was 5 lacs, at the time of the application I've got a competitive rate of interest. It has been a hassle free business loan experience with the HDFC bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 11, 2018
    • ICICI Two Wheeler Loan
      "Best Service"
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      My experience was very good with ICICI bank for two wheeler loan, the loan amount was based on my requirement and it was taken back on 1995. Customer service was very good and their response was on time. The tenure period for this loan is 18 months and the rate of interest was nominal.
      Was this review helpful? 3
      , pune
      Reviewed on Sep 08, 2018
    • L&T Finance Two Wheeler Loan
      "Excellent Service"
      L&T FINANCE LIMITED
      0.5 4.5/5 "Excellent!"
      It has been a very good experience i had with them so far. The process in getting this loan had been smooth and easy and the loan amount which they had provided also had been satisfactory as well. The interest rate with them also had been nominal when compared with the market rate.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 07, 2018
    • review Two Wheeler Loan
      "Good experience"
      KARUR VYSYA BANK
      0.5 5.0/5 "Blown Away!"
      I have taken my two wheeler loan with Karur Vysya bank. The process to get the loan was simple and easy and there are no issues in the documentation as well. The rate of interest and processing charges is normal and in all there has been no issues.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 06, 2018
    • HDFC Bank Two Wheeler Loan
      "Good experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 55000 with nominal interest rate when compared to other banks. I have taken Honda Shine and made a down payment of Rs 21000. Customer service was good and they responded on time. The tenure period for this loan is 30 months.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 05, 2018
    • review Two Wheeler Loan
      "Good service"
      TVS FINANCE
      0.5 4.0/5 "Great!"
      The process in getting this two wheeler loan has been good and the loan amount which they had provided had been satisfactory as well. The interest rate has been a little high when compared with the market rate, but their customer support and their staff responses had been good where there has not been any hassle so far.
      Was this review helpful? 1
      , jaipur
      Reviewed on Sep 03, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have taken a Bike Loan from the HDFC bank. The interest rate was very high, the price of the bike was 2 Lacs and I got the loan for 1.5 Lacs, the rate of interest was very high; a whopping 19% which wasn't a satisfactory experience.
      Was this review helpful? 7
      , pune
      Reviewed on Aug 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Very high interest rate"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I've taken a bike loan from the HDFC bank, The loan amount was 70000. The interest rate was high, they processed the loan pretty fast and the application and documentation was hassle free. It was a smooth loan experience.
      Was this review helpful? 4
      , guwahati
      Reviewed on Aug 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was based on requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 29, 2018
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