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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

    • 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

    • TVS Motor Company to Unveil a New Commuter Bike

      According to reports, TVS Motor Company will soon launch a new 100cc commuter motorcycle namely TVS Prestige. Expected to be equipped with the same engine as the TVS Sport, the bike will be powered by a single-cylinder, carbureted drivetrain coupled with a 4-speed manual transmission to generate a maximum power of 7.4 ps at 7,500 rpm. Being similar to the TVS Sport, the manufacturing company claims that the new commuter motorcycle will be able to grant a maximum mileage of 95 kmpl using a 4-speed gearbox. The starting price of the TVS Prestige will be Rs.45,000 approximately. The bike will also feature a 5-year standard warranty similar to the TVS Sport. Apart from the TVS Prestige, TVS Motor Company is currently believed to be working on a few cruiser bikes based on the Zeppelin Concept.

      27 February 2018

    • Hero Motocorp reveals ‘XPulse’

      Hero MotoCorp Ltd (HMCL), prominent two-wheeler manufacturer, recently displayed its latest adventure motorcycle, known as the XPulse. The bike has an engine displacement of 200 cc, and it was revealed for the first time at the Auto Expo, 2018. The company aims to enhance its market share in the nation, particularly, in the higher engine capacity category. This bike will be the second product in the premium category. The company aims to launch this product primarily for young, riding lovers who love adventure and thrill. The maximum power of this bike is 18.4PS and the maximum torque of this bike is 17.1 Nm.

      15 February 2018

    Essential Two Wheeler Loan Pages
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    Customer Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Not satisfied"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      I have taken a two wheeler loan with HDFC bank and my experience was not up to the mark. The loan amount was for Rs 1.36 lakhs with nominal interest rate. The charges are very high and customer service was not satisfactory. The tenure period for this loan is 30 months.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2018
    • HDFC Bank Two Wheeler Loan
      "Excellent Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had taken this loan for the purchase of my Scooty and the process in getting this loan had been smooth and easy. The loan amount which they had provided had been satisfactory and the interest rate has been average when compared with the market rate. I have already paid the first EMI already and the services has been hassle free.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 18, 2018
    • L&T Finance Two Wheeler Loan
      "Good service"
      L&T FINANCE LIMITED
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with L& T and my loan experience was good, the loan amount was for Rs 50000 with nominal interest rate when compared to others in the market. Customer service was good, they followed up on time and the tenure period is 24 months.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 18, 2018
    • review Two Wheeler Loan
      "Average service"
      INDUSIND BANK LTD
      0.5 3.0/5 "Satisfactory"
      I have taken a two wheeler loan with IndusInd bank and my loan experience was good, the loan amount was for Rs 45000 with nominal interest when compared to others. Customer service was good and they followed up on time. The tenure period is 12 months and the only issue i found in this bank is, they do not give offer like credit cards.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 18, 2018
    • review Two Wheeler Loan
      "Good Service"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      I took a bike loan from the IndusInd bank, The interest rate is very low. I applied at the branch. The whole application and the documentation was easy and hassle free. I never faced any issues during the application. It is a recommendable provider for bike loans.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 17, 2018
    • HDFC Bank Two Wheeler Loan
      "Good experience"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      My two wheeler loan was taken with HDFC Bank 2 months back. The loan amount was 50,000 and the interest rate was very good . The tenure period was very satisfactory. The tenure period was 18 months. The customer service and responsiveness was up to the mark. They have sanctioned the loan with the committed time.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 17, 2018
    • review Two Wheeler Loan
      "Not satisfied"
      BAJAJ FINSERV
      0.5 1.0/5 "Really Bad"
      My two Wheeler loan was taken with BAJAJ 4 years back. The loan amount was 50,000 and the interest rate was very high .The tuner period was 3 years . I felt that there is no transparency in the process and they did not give the documents after disbursement. I can pay the amount through the website which is very convenient and i am expecting the same potion from other banks also but i a not satisfied with the customer service and responses here.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 14, 2018
    • HDFC Bank Two Wheeler Loan
      "Average service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      It was an average experience with HDFC bank for two wheeler loan, the loan amount was for Rs 1 lakh with nominal interest rate. I paid an amount of Rs 35000 as a down payment and i have to pay an EMI of Rs 3052 for 3 years. Customer service was not up to the mark and their response was delayed.
      Was this review helpful? 3
      , kolkata
      Reviewed on Jul 13, 2018
    • HDFC Bank Two Wheeler Loan
      "The interest rate is high"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I took a bike loan from the HDFC bank, the loan was approved and process din no time. The loan amount was 50000 and the interest was high when comparing with other banks in the market. The whole loan application process was easy as a breeze.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 13, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      The experience with them had been very good and the loan amount which they had provided had been very good. The interest rate with them had been average and their customer support had been helpful and they had been responsive. They had helped to make the process easy and simple.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Very Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken this loan a very long time back and it had been a very good experience with them. I have closed this loan now, the interest rate with them had been very low and they had provided me with a loan amount of 75 thousand. Their customer support and the staffs where prompt in their response and there has not been any hassle faced with their service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Very Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      It had been a very good experience with them and the process in getting the loan had been simple and smooth. The loan amount which they had provided had been satisfactory and the interest rate with then also had been good where it was 11.5%. Their customer support and the staff response of them also had been very good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 12, 2018
    • review Two Wheeler Loan
      "Excellent"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      I have taken my two wheeler loan with INDUSIND Bank 2 years back. The loan amount was 1.20,000 and the interest rate was very satisfactory . The tenure period was 2 years . The process was very easy and the staffs were every helpful. I have not faced any issues with the service here and the loan was approved on time here.,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 12, 2018
    • review Two Wheeler Loan
      "Average service"
      BAJAJ FINSERV
      0.5 3.0/5 "Satisfactory"
      I have taken a two wheeler loan with Bajaj Finserv and my loan experience was good, the loan amount was for Rs 50000 with nominal interest rate which is 12%. Customer service was fine and their response was good. The tenure period for this loan is 18 months.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 11, 2018
    • Shriram City Two Wheeler Loan
      "Good service"
      SHRIRAM CITY UNION FINANCE
      0.5 5.0/5 "Blown Away!"
      My two wheeler loan was taken with SRI RAM 2 years back. The loan amount was 59,000 and the interest rate was bit high than other banks and the tenure period was 2 years . The customer service and responses was good. The process was very easy and smooth .The processing fee was also nominal. I had very hassle free documentation process.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 11, 2018
    • ICICI Two Wheeler Loan
      "Good service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with ICICI bank and my experience was good, the loan amount was for Rs 40000 with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. I have to pay an EMI for 36 months.
      Was this review helpful? 0
      , lucknow
      Reviewed on Jul 10, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I took a bike loan from the HDFC bank for 60000. The interest rate was high, I ended up in paying almost 80000 to close the loan. The EMI was paid via ECS. The application process was really easy I got the loan quickly. They should seriously consider reducing the interest rates with the bike loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 06, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      It had been a very good experience with them and the process in getting the loan had been smooth and easy and the loan amount has been sufficient and satisfactory. I had taken this loan a very long time back, the interest rate has not been that high during that time.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 06, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 3.5/5 "Pretty good"
      I have taken a two wheeler loan with Hero Fincorp and my loan experience was good, the loan amount was for Rs 38000 with 12% interest rate which is nominal rate. Documents were collected on time and the customer service was good. The tenure for this loan is 30 months.
      Was this review helpful? 0
      , amravati
      Reviewed on Jul 06, 2018
    • ICICI Two Wheeler Loan
      "Average service"
      ICICI BANK
      0.5 2.0/5 "Expected more"
      I had taken a Two wheeler loan with ICICI bank 12-13 years back and it was an average experience. The loan amount was for Rs 25000 with nominal interest rate when compared to other banks. The processing charges were high at that time and the customer service was not up to the mark.
      Was this review helpful? 0
      , karad
      Reviewed on Jul 05, 2018
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