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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  58 to 65 years (or retirement age) 
Status of employment   Salaried or self-employed 
Minimum income required   Rs.50,000 per year 
Minimum work experience required   6 months with the current employer  
Maximum loan amount  Rs.10 lakh 
Maximum repayment tenure  84 months (7 years) 
Interest rate range   9.5% p.a. to 17.75% p.a.  
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   21 years to 65 years  
HDFC Bank   21 years to 65 years  Rs.6,000 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  18 years to 70 years   As determined by the bank  As determined by the bank 
Syndicate Bank  21 years  Rs.4,167 per month  As determined by the bank 
Canara Bank  21 years  Rs.20,833 per month  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. Can I get a scooter loan even if I’m not 21 years old yet?

    Yes, you can. Usually, lenders require the applicant to be at least 21 years old. But a few lenders may give you a loan if you’re at least 18 years old and also have a guarantor. The guarantor must be either your parent or a close relative. However, giving you the loan is left to the discretion of the lender.  

  2. How does my credit history impact my loan eligibility?

    Your credit score is an indication of how good you are at handling your finances. A good score means that you are prompt in repaying loans and paying off credit card bills. It also means that you utilise only a small portion of your available credit. A bad score, on the other hand, means that you don’t pay your EMIs on time and are not good at managing your finances. This is a red flag for lenders.  

  3. Can I get a loan even if my credit score is bad? 

    Your credit score is an important part of the eligibility criteria. That said, you may still be able to get a loan with bad credit if you offer collateral or agree to high interest rates. It may also work if you get a co-applicant for your loan.  

  4. How can a co-applicant help me get a two-wheeler loan?

    In case you don’t have a good enough credit score or a low income, lenders will hesitate to approve your loan application. But if you can get a co-applicant who has a good credit rating or income to sign along with you on your application, you may be able to get the loan. Lenders will take the combined credit and incomes of both applicants while assessing your application.  

  5. Will my loan eligibility increase if I take a loan from my existing bank?

    Applying for a loan from your existing bank has many benefits. If you already are in good terms with a lender, you may be able to negotiate with them and get better loan terms. They may also sanction a loan that you don’t fully qualify for, simply based on the trust they have in you. This, however, is at the complete discretion of the lender.  

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