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  • Two Wheeler Loan Eligibility

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    Two Wheeler Loan Eligibility:

    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.

    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.
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    News About Two Wheeler Loan Eligibility

    • Ride For Freedom Event Organised By Triumph Motorcycles and Smile Foundation

      As India celebrated 70 years of independence, Triumph Motorcycles India partnered with Smile Foundation to organise a Ride for Freedom event across multiple cities in the country. Hundreds of Triumph motorcycle owners who participated in the event also pledged to sponsor the education of girl children in the country.

      Smile Foundation is a development organisation that supports causes of social relevance like healthcare, education and women empowerment. The work undertaken by this organisation benefits over 4 lakh families every year.

      Vikram Singh Verma, COO of Smile Foundation thanked Triumph Motorcycle Owners for coming forward to support this initiative. The Ride for Freedom event was inaugurated at Triumph dealerships in various cities, and concluded at the same venues.

      ></p> <p><em> 28th November 2016 </em></p> </div> <div class=

    • The 2016 Red Bull Rookies Cup - a great platform for young Indian riders

      The Road to Rookies Cup is an event sponsored by Red Bull, and it provides a platform for young riders in the age group of 13-17 years to prove their mettle. 2016, being the tenth running year of the competition, also provides an opportunity for two of the best Indian racers to participate in the 2017 Red Bull MotoGP Rookies Cup in Spain.

      The qualifying rounds for the Road to Rookies Cup will be hosted at the same venue as the competitions for the Suzuki Gixxer Cup. Considering the fact that the winners of the 2015 Moto2 and Moto3 championships were ex-Rookies, this is distinctively a huge platform for selected Indian racers. They get a chance to understand the working of an international racing outfit, and this would in turn, benefit the entire motorsports scene in India as well.

      ></p> <p><em> 25th August 2016 </em></p> </div> <div class=

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    Customer Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Not Happy"
      HDFC BANK
      0.5 2.0/5 "Expected more"
      During the year of 2014, I got two wheeler loan from HDFC bank. Interest rate was high with the bank and the process was average. I had already completed the loan. But I am not happy with the services of HDFC bank for the two wheeler loan process.
      Was this review helpful? 0
      , guwahati
      Reviewed on Jun 24, 2017
    • review Two Wheeler Loan
      "Good overall"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      Bajaj Finserv was too good in the process for the two wheeler loan. I had taken the loan couple of years back and the process was smooth and the after loan services was good too. I never had issues during the process and in all there were no hassles as such.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 24, 2017
    • HDFC Bank Two Wheeler Loan
      "Convenient and Good"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have bike loan with HDFC, I took the loan amount around Rs. 66,000. I have purchased the Honda unicorn HDFC offered 100% loan with the interest rate of 11.5% for the tenure of three years. I am very happy with their service, I didn't face any hassles.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 22, 2017
    • review Two Wheeler Loan
      "Excellent"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      I had applied for a bike loan with INDUSIND Bank. The response was good. They contacted me and informed me the details they have offered me the normal rate of interest and the EMI is for 2750 and it is for twenty three months and still three EMI is pending.
      Was this review helpful? 2
      , mumbai
      Reviewed on Jun 22, 2017
    • review Two Wheeler Loan
      "Nice Service"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      I got Activa with the help of the two wheeler loan from Indusind Bank. They offered me this loan and they had given some suggestions for the loan process. Interest rate is margeable which is not high and not low. The tenure for the loan is 20 to 23 months. The services of Indusind bank is good especially for the loan which I had taken.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jun 22, 2017
    • Shriram City Two Wheeler Loan
      "Excellent services"
      SHRIRAM CITY UNION FINANCE
      0.5 4.0/5 "Great!"
      Shriram city union finance was perfect when I got my two wheeler loan from them. The customer services and response was excellent and the after loan services was good. The loan is closed as well. I had no issues during the process and the interest rate and charges were very much normal.
      Was this review helpful? 2
      , salem
      Reviewed on Jun 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Excellent "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken the bike loan with the HDFC bank and the response is also very good like I got it without any formalities. Customer service is quite good one for me and they have provided around 100% cost of the bike as loan. I am happy with the HDFC bank.
      Was this review helpful? 3
      , guwahati
      Reviewed on Jun 21, 2017
    • HDFC Bank Two Wheeler Loan
      "User friendly "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had a 2 wheeler loan with Hdfc bank around 2 years ago. It has 3 years of tenure. Already I finished paying for 2years 6 months, another 6 months is left to finish the loan. Within 3 days of time I got the loan from HDFC bank. The rate of interest is nominal with HDFC. The HDFC bank has satisfied me with their wonderful service.
      Was this review helpful? 3
      , mysore
      Reviewed on Jun 20, 2017
    • review Two Wheeler Loan
      "Excellent services"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I got my two wheeler loan within 48 hours from Bajaj Finserv. The process was a super fast one and I am happy with the experience. The loan was taken two years back and completed as well. I had no issues from the start to the finish and even at the closure.
      Was this review helpful? 2
      , varanasi
      Reviewed on Jun 20, 2017
    • HDFC Bank Two Wheeler Loan
      "Extreme"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I am very much happy with HDFC bank for the two wheeler loan which I had availed from the bank. Interest rate is 12% which is nominal and it is better than the other banks. Customer service is really superb. They had done the loan process extremely well.
      Was this review helpful? 3
      , lucknow
      Reviewed on Jun 20, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      About eight years ago, I had taken two wheeler loan from HDFC bank. The bank is good in processing the loan and they done with the process in a proper way. Interest rate was around 12% and the HDFC people who were in the showroom, they had done all the formalities within a day. I am quite happy with the services of HDFC bank.
      Was this review helpful? 3
      , paradip
      Reviewed on Jun 19, 2017
    • HDFC Bank Two Wheeler Loan
      "Satisfactory services"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC Bank has been really good in the two wheeler loan process. They collected my documents on time and processed my details as well. The interest rate and processing charges was normal and the after loan services was also smooth and pretty easy.
      Was this review helpful? 2
      , visakhapatnam
      Reviewed on Jun 19, 2017
    • HDFC Bank Two Wheeler Loan
      "Very good experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I got a 2 wheeler loan with HDFC bank. The process was quite easy and it just took a day time. They have directly disbursed the loan amount to the dealer and I got the 2 wheeler in a same day. The paid back the loan amount through the ECS mode. I have paid the loan amount and cleared within the assigned period. The rate of interest is nominal with HDFC bank.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 17, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Process"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      One year ago, I availed two wheeler loan with HDFC bank. For the loan, they provided good service. They never caused any trouble and done with the process in a smooth manner. Their responses are good. Still the loan is running, I am paying the emi regularly. The entire process is good.
      Was this review helpful? 5
      , madurai
      Reviewed on Jun 15, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I am with HDFC bank for more than nine years. I had availed two wheeler loan from the bank. The loan process went smooth and their marketing executives are good in addressing the customers. I am happy with the bank for my two wheeler loan process.
      Was this review helpful? 4
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • Hero fincorp Two Wheeler Loan
      "Good Response"
      HERO FINCORP LIMITED
      0.5 3.5/5 "Pretty good"
      Hero Fincorp provided better service for the two wheeler loan, which had done already. I received better services from them with a better interest rate. I went to the showroom where they assisted me well and they were good in providing the service.
      Was this review helpful? 2
      , visakhapatnam
      Reviewed on Jun 15, 2017
    • ICICI Two Wheeler Loan
      "Good Process"
      ICICI BANK
      0.5 5.0/5 "Blown Away!"
      I am a customer of ICICI bank for past ten years. I had taken loans and credit card. The bank is good for the all the services. I had taken two wheeler loan as well. The interest rate is good and I am happy with the services of ICICI bank for two wheeler loan.
      Was this review helpful? 3
      , coimbatore
      Reviewed on Jun 13, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Last year I had taken two wheeler loan from HDFC bank. The loan process went good with them. I had taken this loan for two years, I almost completed one and a half years. I had no issues with the bank for the two wheeler loan as it is going smooth till date.
      Was this review helpful? 3
      , mumbai
      Reviewed on Jun 13, 2017
    • HDFC Bank Two Wheeler Loan
      "Good in services"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have an earlier experience with HDFC Bank for a two wheeler loan. The customer services was smooth and I got the loan on time. I even closed the loan when I had five to six EMI pending before the tenure could end. It was a easy process to close it as well.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Jun 10, 2017
    • Shriram City Two Wheeler Loan
      "Better "
      SHRIRAM CITY UNION FINANCE
      0.5 4.0/5 "Great!"
      I have closed two wheeler loan by last December and it was with Shriram city union finance limited. The EMI was around 3000 Rupees for 24 months of time and they have provided the loan amount within two days of time, also it was arranged by dealer. I have asked only 40% of cost of bike as loan.
      Was this review helpful? 2
      , chennai
      Reviewed on Jun 10, 2017
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