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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

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:

  • 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

  • Bajaj Pulsar NS 125 Revealed in Poland

    The news surrounding Bajaj and its ongoing work on the brand-new Pulsar NS 125 has been doing the rounds since the past few weeks, however, with its most recent launch in Poland, the world will now get the chance to set its eyes upon the magnificent beast.

    The all-new, technically advanced bike comes with CBS and fuel injection. According to predictions made earlier, the new NS 125 was supposed to replace the older model - Bajaj Pulsar 135 LS in India. With the recent launch in Poland, looks like the predictions and speculations will ultimately come true. Even though the Pulsar 135 is still being sold in India, the new motorcycle has been styled and designed in a very similar fashion as the former. However, one striking difference that can easily be spotted between the two motorcycles is that of the seat set-up. The NS 125 has a dual seat set-up as opposed to a single piece that the Pulsar 135 dons.

    The bike, additionally, dons a belly pan that has a lot of similarity with the ones spotted on the NS models. On similar lines, the matte finish touch imparted to the NS 125 is very similar to the ones seen on the earlier models of NS 200 and NS 160. The NS 125, moreover, has been installed with a single-cylinder, 4-valve, fuel-injected, air-cooled, DTS-i 124.4cc motor that can take on a 8,500rpm and 11 Nm at 6,000rpm. The only engine that can be compared with this is the one in the Discover 125.

    12 November 2018

  • 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

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
    "Excellent service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I am using two wheeler loan with HDFC bank for long time,the loan amount they have given me was sufficient, and the rate of interest they have charged me was nominal, i am happy with there service i got loan on time, and there is zero processing fee and they have not charged any hidden charges.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 23, 2019
  • HDFC Bank Two Wheeler Loan
    "Good service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I was using two wheeler loan with HDFC bank for long time,the loan amount they have given me was sufficient, and the rate of interest they have charged me was high compare to nationalize bank, i am happy with there service i got loan on time, and they have charged me processing fee up to 2% which was nominal. And they have not charged any hidden charges.now i have closed this loan.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 23, 2019
  • HDFC Bank Two Wheeler Loan
    "Excellent"
    HDFC BANK
    0.5 4.0/5 "Great!"
    Earlier I have taken a bike loan from HDFC Bank for 2 times and every thing has been completed. The customer service is always good and have no issues. I have purchased Yamaha Ray and Honda Shine. The documents requirement is less and interest rate is also reasonable. The procedure is easy for foreclosure.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 23, 2019
  • Tata capital Two Wheeler Loan
    "Good service"
    TATA CAPITAL LIMITED
    0.5 4.0/5 "Great!"
    My experience with TATA CAPITAL for two wheeler loan was good, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they followed up on time. Tenure period for this loan is for 2 years.
    Was this review helpful? 0
    , jaipur
    Reviewed on Jan 23, 2019
  • ICICI Two Wheeler Loan
    "Good service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I took two wheeler loan from ICICI bank 15 years back, the process was smooth and i received my loan amount on time. Rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is for 3 years.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 23, 2019
  • HDFC Bank Two Wheeler Loan
    "Need to reduce ROI"
    HDFC BANK
    0.5 4.0/5 "Great!"
    My experience with Two wheeler loan from HDFC bank was good, the loan amount was for Rs 41000 with very high interest rate when compared to others. Customer service was good and they responded on time. Tenure period was for 3 years but i preclosed in 1.5 years and they charged penalty for it.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 23, 2019
  • SBI Two Wheeler Loan
    "Good Financial service"
    STATE BANK OF INDIA
    0.5 4.0/5 "Great!"
    I have taken two wheeler loan long back from State bank of India , they did instant approval process regarding documentation . They provide with promising rate of interest which is satisfied for me , i got tenure period of one year and paid the payment through ecs. Overall am satisfied with their customer service and response .
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 23, 2019
  • HDFC Bank Two Wheeler Loan
    "Best Service"
    HDFC BANK
    0.5 4.0/5 "Great!"
    My experience with Two wheeler loan from HDFC bank was good, the process was smooth and i received my loan amount on time. Customer service was good and they responded on time. Rate of interest was nominal and the tenure period is for 3 years.
    Was this review helpful? 0
    , pune
    Reviewed on Jan 23, 2019
  • HDFC Bank Two Wheeler Loan
    "Excellent Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    It was quite a good experience i had with this loan and i had taken this loan for the purchase of my Karishma bike. They had provided me with a loan amount of 70,000 which was sufficient and the interest rate with them was nominal with the market rate. There was no extra charges which they had taken.
    Was this review helpful? 1
    , pune
    Reviewed on Jan 22, 2019
  • ICICI Two Wheeler Loan
    "Good service"
    ICICI BANK
    0.5 3.0/5 "Satisfactory"
    I had taken this loan almost 13 years back and the experience has been quite good. The loan amount which they had provided has been a little less and but interest rate with them has been nominal. There has been some charges which has been made with them which has been a little higher.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 22, 2019
  • HDFC Bank Two Wheeler Loan
    "Excellent Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    It has been quite a good experience i had with this loan where the process went well. The loan amount was sufficient and the interest rate was also good comparing with the market rate. But i had requested for a tenure period of two years but they had given with a tenure period of three years which would have been avoided.
    Was this review helpful? 0
    , bhubaneshwar
    Reviewed on Jan 22, 2019
  • HDFC Bank Two Wheeler Loan
    "Best Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken two wheeler loan with HERO FINCORP and my experience was good, the process was smooth and i received my loan amount on time. Customer service was good and they collected documents on time. Tenure period for this loan is for 3 years.
    Was this review helpful? 1
    , indore
    Reviewed on Jan 21, 2019
  • review Two Wheeler Loan
    "Average service"
    BAJAJ FINSERV
    0.5 3.0/5 "Satisfactory"
    I have taken personal loan with Bajaj finserv and my experience was not up to the mark, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was average and the tenure period for this loan is 3 years.
    Was this review helpful? 0
    , hojai
    Reviewed on Jan 21, 2019
  • HDFC Bank Two Wheeler Loan
    "Best Service"
    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 sufficient and the rate of interest was nominal when compared to other banks; Customer service was good and the tenure period for this loan is 17 months.
    Was this review helpful? 0
    , rewari
    Reviewed on Jan 21, 2019
  • review Two Wheeler Loan
    "Looking for less interest rate"
    FULLERTON
    0.5 4.0/5 "Great!"
    My experience with Fullerton for two wheeler loan was good, i received my loan amount on time and the amount was sufficient. Rate of interest is way high when compared to others. Customer service was good with Fullerton and tenure period is 18 months.
    Was this review helpful? 0
    , rajkot
    Reviewed on Jan 21, 2019
  • Tata capital Two Wheeler Loan
    "Good service"
    TATA CAPITAL LIMITED
    0.5 4.0/5 "Great!"
    I have been using my Two wheeler loan with Tata capital,there service was good, they have given me sufficient loan amount , and the rate of interest they have charged me was nominal, and the processing fee they have charged me was nominal,my loan is still running,till now i had good experience with this bank.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • review Two Wheeler Loan
    "Excellent Service"
    BAJAJ FINSERV
    0.5 5.0/5 "Blown Away!"
    The experience in getting my Two Wheeler loan through them was quite simple and the loan amount which they had provided has been sufficient as well. The interest rate which they had charged has been nominal when compared with the market rate and there has not been any additional charges which they had made.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Financial service"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken two wheeler loan from Hdfc Bank . Am satisfied with the rate of interest quiet high which they have given . Am satisfied with their customer service and response . There is processing fees for the documentation and approval process. The payments get auto debited from my bank
    Was this review helpful? 1
    , jaipur
    Reviewed on Jan 20, 2019
  • HDFC Bank Two Wheeler Loan
    "HDFC provides nice EMI facility"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I have taken a corporate two wheeler loan from HDFC. Totally 25 employees from my company has taken at the same time. I have chosen the tenure period of 3 years. I pay the premium amount of Rs. 3500 approximately. I used to make the EMI through online. Even the down payment is very less.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 20, 2019
  • review Two Wheeler Loan
    "Average Service"
    BUSSAN AUTO FINANCE INDIA PVT LTD
    0.5 3.0/5 "Satisfactory"
    The experience was quite good, where the loan amount was sufficient. The interest rate with them has been quite high which was around 14% and the charges which they had made has also been high, where lot of charges has been there. Their customer support was also good.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 19, 2019
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