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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

    • 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

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    Customer Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Best Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have taken a two wheeler loan with HDFC bank and the experience was good, the loan amount was for Rs 1.25 lacs with nominal interest rate when compared to others. Customer support was good and they followed up on time. The tenure period for this loan is 30 months.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2018
    • L&T Finance Two Wheeler Loan
      "Excellent service"
      L&T FINANCE LIMITED
      0.5 5.0/5 "Blown Away!"
      I have been using two wheeler loan from L&T financial service, the loan amount they have given me up to 74 thousand and the rate of interest is 18% they have charge me which is nominal and there processing fee got charge after sanction of my loan and i got this loan through showroom .
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Nov 16, 2018
    • HDFC Bank Two Wheeler Loan
      "Better"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I took a two wheeler loan with HDFC Bank by last month. I have purchased Suzuki Access. The rate of interest is good and the processing fee was around 2K. They processed immediately and I got the bike in 2 days. There is no option for foreclosure.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Nov 15, 2018
    • review Two Wheeler Loan
      "Good"
      TVS FINANCE
      0.5 5.0/5 "Blown Away!"
      I took a two wheeler loan with TVS Finance and it was completed. I am happy with the customer service and response. The rate of interest was good not so high. I have purchased a TVS Bike. They charged some processing fee. Most of the times, the payment was through ECS and sometimes I paid through cheque.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 15, 2018
    • HDFC Bank Two Wheeler Loan
      "Excellent service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have been holding my Two-wheeler loan with HDFC bank from past 5-6 months , i have take loan amount around 1,30,000 it was sufficient for me and there rate of interest they have charged me is nominal and they have not charged any processing fee in this loan , overall service was good so far.
      Was this review helpful? 1
      , mumbai
      Reviewed on Nov 15, 2018
    • HDFC Bank Two Wheeler Loan
      "Excellent service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have been using my Two wheeler loan with HDFC bank, i am very happy with there loan amount it was sufficient for me a year back only i had taken this loan amount and the best part in this bank is that they give pre- approval on documentation and the rate of interest was nominal and there was no processing fee they have charge in this loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • HDFC Bank Two Wheeler Loan
      "Good In Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan from HDFC.Based on the two wheeler loan i also got a credit card of HDFC bank. The application processed on time with HDFC. HDFC is the bank which address your requirement and act accordingly. Have started using their credit card as well. They give you fine services
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Nov 14, 2018
    • SBI Two Wheeler Loan
      "Quick Response"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I had applied for a Two wheeler loan through SBI and it got processed on a quick note. The Emi i had taken was for 1 year and without any hurdle i had cleared the loan amount. I hold a Duo bike and i am happy that the bank served me at the time i had my expectations.
      Was this review helpful? 2
      , surat
      Reviewed on Nov 14, 2018
    • SBI Two Wheeler Loan
      "Average Service"
      STATE BANK OF INDIA
      0.5 1.0/5 "Really Bad"
      The experience i had with them has not been that great, where the loan amount has been okay and the interest rate with them has been nominal when compared with the market rate. There has not been much hassles faced but the charges with them has been very high.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 13, 2018
    • HDFC Bank Two Wheeler Loan
      "Very Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had taken this loan almost very long time back and the experience had been good. The process has been very good and i never had faced any hassles, there has not been any sort charges which they had made so far and everything has been satisfactory with them.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 13, 2018
    • L&T Finance Two Wheeler Loan
      "Very easy to get a loan"
      L&T FINANCE LIMITED
      0.5 4.5/5 "Excellent!"
      The showroom people has suggested me go with the L&T loan. I have paid only rs. 6000 as a processing fee. I have bought a two wheeler loan for bike with a amount of Rs. 62 K. I'm happy about the interest rate they have provided to me. I have purchased the loan 1 year back and total tenure period of the loan is 24 months. I pay the EMI of Rs. 3 K every month.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 13, 2018
    • HDFC Bank Two Wheeler Loan
      "Very Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had taken this car loan almost five years back and it was closed now. The experience has been good and the interest rate with them has been nominal. The loan amount has been sufficient and there has not been any issues faced with them so far.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 13, 2018
    • HDFC Bank Two Wheeler Loan
      "Okay"
      HDFC BANK
      0.5 2.0/5 "Expected more"
      I have purchased a Honda Activa. The interest rate is very high which I never expected of 22%. When they say EMI am fine later looking into the interest rate which am not satisfied. The customer support is fine. I have completed 12 months and 6 months left. I tried to do pre closure and they charge around 3K which is high again.
      Was this review helpful? 0
      , kochi
      Reviewed on Nov 12, 2018
    • L&T Finance Two Wheeler Loan
      "Good service"
      L&T FINANCE LIMITED
      0.5 5.0/5 "Blown Away!"
      I took my two wheeler loan from the LNT , the tenure period is 30months . The application process and the documentation was smooth and hassle free. I pay an EMI per month. The process was easy and the loan amount was credited with in a span of 3 to 4 business days.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Very Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      The experience i had in getting this loan has been good and it was taken like six months back, the loan amount which they had provided has been satisfactory as well. The interest rate with them has not been any higher and the processing fee and the one time charges has been nominal.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 11, 2018
    • HDFC Bank Two Wheeler Loan
      "GOOD SERVICE"
      HDFC BANK
      0.5 4.0/5 "Great!"
      The process is good by taking the two wheeler loan with the HDFC BANK where i have used it before three years. The rate of interest what they have charged is of higher when compared. The loan amount is delayed for 3-4 days and i have closed the loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 11, 2018
    • HDFC Bank Two Wheeler Loan
      "Average Service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      The experience in getting this loan has been good and the loan amount whcih they had provided has been sufficient. The interest rate whcih they where charging had been a little high when compared with the market rate and there has been a lot of charges which has been made by them as well.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 09, 2018
    • review Two Wheeler Loan
      "Good"
      INDUSIND BANK LTD
      0.5 3.5/5 "Pretty good"
      I have taken two wheeler loan with Induslnd Bank before 3 years. The loan duration is 2 year and it was completed in the year of 2015. I have paid the premium through the cheques. The interest rate and processing fee is average. Overall it was a good experience.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 08, 2018
    • HDFC Bank Two Wheeler Loan
      "Good In Need"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      If you are planning for a two wheeler loan i would say go with HDFC bank. I applied through HDFC and guess what, on the spot i got the approval on instant. It was to my surprise and i hold my favorite bike now. I am thankful to HDFC for their services. Rate of interest is reasonable.
      Was this review helpful? 1
      , aurangabad
      Reviewed on Nov 03, 2018
    • HDFC Bank Two Wheeler Loan
      "GOOD"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I have a good experience by taking the two wheeler loan with the HDFC BANK. I have taken it before 7-8 years where i have got the satisfactory loan amount which is equal to my bike. The EMI i pay 2k per month for this loan also the service is good with this loan.
      Was this review helpful? 1
      , noida
      Reviewed on Nov 03, 2018
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