Whoever said wishes don’t come true hasn’t explored our offers!

Two-Wheeler Loan Eligibility


A two-wheeler loan is a loan you can take to get the bike or scooter you’ve always wanted to buy. Both banks as well as NBFCs (Non-Banking Financial Company) offer these loans.

However, to qualify for a loan from these lenders, you need to fulfil certain eligibility criteria. Each lender may have certain criteria of their own as well.

Two-Wheeler Loan Eligibility Criteria

Knowing what these criteria are can help you see if you qualify for a loan or not. Some of the general criteria required by lenders are mentioned below:

Minimum age limit 21 years
Maximum age limit 65 years (or retirement age)
Status of employment Salaried or self-employed
Minimum income required Varies from bank to bank
Minimum work experience required Varies from bank to bank
Maximum loan amount Varies from bank to bank
Maximum repayment tenure 84 months (7 years)
Interest rate range 9.05% p.a. onwards
Credit score CIBIL score of at least 750

Note: These are general eligibility criteria which may vary from one lender to another. There may be additional or different criteria required depending on which lender you take the loan from.

Two-wheeler loan Eligibility top lender

The following table gives you the list of all the top lenders that currently offer motorcycle loans. You can also check out some of the eligibility criteria required by each of them.

Lender Age limit Minimum income Work experience
State Bank of India 21 years to 65 years Rs.12,500 per month At least 1 year
Bank of India Up to 65 years - -
HDFC Bank 21 years to 65 years Rs.10,000 per month At least 1 year
Union Bank of India 18 years to 70 years As determined by the bank As determined by the bank
Indian Bank 21 years As determined by the bank At least 3 years
Punjab National Bank 18 years to 60 years Rs.10,000 per month As determined by the bank
Bank of Baroda 21 years to 70 years As determined by the bank As determined by the bank
UCO Bank 21 years to 60 years Rs.8,000 per month As determined by the bank

Note: These criteria may change at the discretion of each lender. The maximum age limit mentioned is the age of the applicant at the end of the loan tenure.

How to find out your two-wheeler loan eligibility

You can check whether you qualify for a bike or scooter loan by looking at the various options that are available to you. BankBazaar gives you a list of all the top lenders who offer you such loans at affordable interest rates.

You can compare the various loan options and their various parameters. Compare the interest rates, the processing fees, the minimum income required, the EMIs, and other features. This can help you find the best option.

You can also check out the eligibility criteria for each loan. This will save you the trouble of individually going to each bank to find out their loan application requirements.

Documents required for Two-wheeler Loan

There are a few documents that you’re required to submit when you apply for the loan. Some of these are proofs of fulfilling a few of the eligibility criteria.

The documents required may differ from one lender to another. But some of the general documents required are given below:

  • Filled and signed loan application form
  • KYC documents:
    • Proof of identity – PAN card, voter’s ID, passport, driving license
    • Proof of address – Utility bills, passport, rental agreement
    • Proof of age
  • Photographs
  • Proof of income – salary slips, bank statements, income tax returns, salary certificate

Factors that affect Two-Wheeler Loan Eligibility

There are a number of factors that affect your eligibility for a bike loan. While these may differ from one lender to another, there are a few general ones that apply to every lender. These are as follows:

  • Age: You can apply for a scooter or bike loan only if you’re 21 years old and above. Since the vehicle will be registered in your name, you need to show that you have an income to repay the loan. In some cases, the lender may allow you to apply if you’re below 21 years old if you have a guarantor for the loan.
  • Income: Earning a higher income gives lenders the assurance that you will be able to repay your loan on time every month. This means your risk rating is low. This increases your loan eligibility. The higher your income, the better your chances of easy loan approval.
  • Credit score: Your credit score plays an important loan in determining whether or not you’re eligible for a particular loan. Lenders will usually reject your loan application if your credit history is poor. On the other hand, having good credit (a score of more than 750) can get you favourable loan terms.
  • Area of residence: The city in which you live has a say in your eligibility as well. For example, if you live in a metro city, you may have better chances of getting your loan approved easily.
  • The company you work for: The organisation you work for has a lot to say about your employment. Working for a reputed company could mean that you have a stable job and a regular income. This lowers your risk level, which is something lenders usually prefer.
  • Work experience and stability: Lenders usually require you to have at least a year’s worth of work experience. Apart from this, you should have been working with your current employer for at least 6 months.
  • Existing debt situation: How much debt you currently have also determines your loan eligibility. If you already have too many debts in your name, banks may hesitate to give you another loan. This is because you run the risk of not being able to repay what you borrow.


  1. Is it possible to prepay the two-wheeler loan?
  2. Yes, most banks and NBFCs provide you with an option to prepay the loan.

  3. Do I need to provide collateral/ security to avail a two-wheeler loan?
  4. No, collateral or security need not be provided to avail a two-wheeler loan.

  5. What are different ways by which I can pay the EMI for the two-wheeler loan?
  6. The different ways by which the EMI can be paid are mentioned below:

      • Electronic Clearing Service (ECS)
      • Post Dated Cheques (PDCs)
  7. Is the Advance EMI option provided?
  8. Yes, certain banks and NBFCs provide the Advance EMI option.

  9. How long does it take for the two-wheeler loan to get processed?
  10. It may take up to 7 days for the two-wheeler loan to get processed.

Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

This Page is BLOCKED as it is using Iframes.