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  • Two Wheeler Loan Eligibility

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    Two Wheeler Loan Eligibility:

    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.

    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.
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    News About Two Wheeler Loan Eligibility

    • Ride For Freedom Event Organised By Triumph Motorcycles and Smile Foundation

      As India celebrated 70 years of independence, Triumph Motorcycles India partnered with Smile Foundation to organise a Ride for Freedom event across multiple cities in the country. Hundreds of Triumph motorcycle owners who participated in the event also pledged to sponsor the education of girl children in the country.

      Smile Foundation is a development organisation that supports causes of social relevance like healthcare, education and women empowerment. The work undertaken by this organisation benefits over 4 lakh families every year.

      Vikram Singh Verma, COO of Smile Foundation thanked Triumph Motorcycle Owners for coming forward to support this initiative. The Ride for Freedom event was inaugurated at Triumph dealerships in various cities, and concluded at the same venues.

      ></p> <p><em> 28th November 2016 </em></p> </div> <div class=

    • The 2016 Red Bull Rookies Cup - a great platform for young Indian riders

      The Road to Rookies Cup is an event sponsored by Red Bull, and it provides a platform for young riders in the age group of 13-17 years to prove their mettle. 2016, being the tenth running year of the competition, also provides an opportunity for two of the best Indian racers to participate in the 2017 Red Bull MotoGP Rookies Cup in Spain.

      The qualifying rounds for the Road to Rookies Cup will be hosted at the same venue as the competitions for the Suzuki Gixxer Cup. Considering the fact that the winners of the 2015 Moto2 and Moto3 championships were ex-Rookies, this is distinctively a huge platform for selected Indian racers. They get a chance to understand the working of an international racing outfit, and this would in turn, benefit the entire motorsports scene in India as well.

      ></p> <p><em> 25th August 2016 </em></p> </div> <div class=

    Two Wheeler Loan by Other Banks
    Two Wheeler Loan

    Customer Reviews

  • Page 1 of 50 1 2 3 4 5
    • Hero fincorp Two Wheeler Loan
      "Convenient EMI "
      HERO FINCORP LIMITED
      0.5 4.0/5 "Great!"
      Four EMIs are completed with Hero Fincorp Limited for my two wheeler loan. The very reason for my satisfaction with Hero fincorp is the due date. It is very much convenient for making emis. The loan amount was 50000. And the interest rate is around 14%.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • HDFC Bank Two Wheeler Loan
      "DISSATISFIED"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      t had been a nice experience during the whole process of the loan disbursement. The response was very good with HDFC bank. They have disbursed my loan within the promised time, total loan amount was around 65000 rupees and the down payment I have done is 1500 rate of interest they have offered me is 11.5% processing fee charges around 2500 but the bike got delivered after a month this is the only drawback
      Was this review helpful? 0
      , cherthala
      Reviewed on Aug 13, 2017
    • review Two Wheeler Loan
      "Easy process"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      I have purchased Royal Enfield bike worth Rs. 1.70 lakhs, I paid only the downpayment of Rs. 56,000 and submitting the documents for avail two wheeler loan from Indusind, within one day, they loan have sanctioned it. Their interest was also reasonable now my EMI got closed.
      Was this review helpful? 0
      , machilipatnam
      Reviewed on Aug 12, 2017
    • HDFC Bank Two Wheeler Loan
      "Satisfactory"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I took two wheeler loan from HDFC bank during the year 2012. And I had closed the loan in the year of 2014. For the two wheeler loan I had received a proper response on time from the bank. Nothing went wrong that time. Even they had approved and sanctioned it on time. The service was satisfactory.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 11, 2017
    • HDFC Bank Two Wheeler Loan
      "Very Good service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I had a 2 wheeler loan with HDFC bank around a year ago. The customer service is good with HDFC bank. They have disbursed my loan within 10 days of time. The rate of interest is nominal with HDFC bank. I am happy and satisfied with the loan amount .
      Was this review helpful? 0
      , tirupati
      Reviewed on Aug 10, 2017
    • review Two Wheeler Loan
      "Two wheeler loan"
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
      My Indus Ind BANK two wheeler loan was processed very easily, at the time of closing the loan , I was given NOC. Interest rate and processing fee charged by them were fine. For any quires they respond instantly and that 's the highlight about them. This loan was closed before one year and there were no issues absolutely.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 10, 2017
    • review Two Wheeler Loan
      "Easy Loan"
      BAJAJ AUTO FINANCE
      0.5 5.0/5 "Blown Away!"
      I got a bike loan immediately from Bajaj auto finance , documentation process was very easy. Within the time they done the process.I got my bike delivery on the same days, I took the bike loan of Rs.75,000 for the tenure of three years it is live.
      Was this review helpful? 0
      , sambalpur
      Reviewed on Aug 10, 2017
    • review Two Wheeler Loan
      "Hassles Free"
      BAJAJ AUTO FINANCE
      0.5 4.0/5 "Great!"
      I done with the two wheeler loan with Bajaj Auto Finance. It was for 21 months. And I am not sure about the interest rate but the process was on time. Actually the whole process was completed by the showroom executive. So I did not involve much, I just submitted my documents and they were done with the loan process on time.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 08, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Process"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Two years ago, I had closed the loan with HDFC bank. Actually I availed two wheeler loan from the bank and the interest rate was 11.50%. I got the loan on time without any delay and I am quite happy with the bank for the loan process. Also I had closed the loan as well.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Experience with HDFC "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I took two vehicle loan from HDFC, I just submitted my documents to the showroom guy. Within ten days of time they have completed entire process, they delivered the bike on that day. HDFC gave me the interest around 13% for bike vehicle its fine.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 07, 2017
    • review Two Wheeler Loan
      "Not so good"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      Bajaj finserve had to actually reduce the charges which they are adding at present for example cheque bounce as this happens at times despite having sufficients funds in my account . I am clueless why this is happening and they are messing up the process completely.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 06, 2017
    • HDFC Bank Two Wheeler Loan
      "Immediate Process"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I had taken two wheeler loan from HDFC bank in the year of 2012. Interest rate was 9% at that time and it was nominal. They are good in loan process and sanctioned the loan on time. Because my credit score was very good so they processed it immediately.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 05, 2017
    • HDFC Bank Two Wheeler Loan
      "High in charges"
      HDFC BANK
      0.5 2.5/5 "Just OK"
      In the year of 2014, I had taken the two wheeler loan. Now it had been completed. Interest rate is around 12.5% which is high and the cheque bounce charges are also very high with HDFC which is around 750 rupees. So I am disappointed with HDFC for two wheeler loan.
      Was this review helpful? 0
      , thane
      Reviewed on Aug 05, 2017
    • review Two Wheeler Loan
      "EXCELLENT"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I had taken two wheeler loan and I like the services for bajaj finserv. I got this loan with interest rate and on the same day itself the loan been sanctioned. I did not face any kind of issues with Bajaj Finserv.the loan amount was 88000 and the down payment i have done is 28000 rupees total tenure is for 3 years.
      Was this review helpful? 0
      , vijayawada
      Reviewed on Aug 04, 2017
    • HDFC Bank Two Wheeler Loan
      "Not Responsive"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      I preferred HDFC bank for the two wheeler loan and I had applied with the bank as well. It had been twenty days but still there is no kind of response from the bank side. They never reached me on my application. I am a credit card holder of the bank but I am not getting good response from HDFC.
      Was this review helpful? 0
      , jadcherla
      Reviewed on Aug 03, 2017
    • HDFC Bank Two Wheeler Loan
      "As Per The Market Rate"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have two wheeler loan with Muthoot Capital. It will be closed after three emis. The rate of interest is 10.50% which is a reasonable one. And they had done with the loan process in a very good manner and I received good customer service as well.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 03, 2017
    • HDFC Bank Two Wheeler Loan
      "Satisfactory services"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have taken a two wheeler loan twice earlier with HDFC Bank. On both the occasions I had no issues, the process was smooth and I got the loan on time as well. I got 80% of the vehicle value and the interest rate and charges was reasonable. The executive came over to my place and collected the documents too.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 02, 2017
    • review Two Wheeler Loan
      "Good Experience"
      INDUSIND BANK LTD
      0.5 4.0/5 "Great!"
      In the recent past, I had taken a two wheeler loan from Indusind, I took the amount of Rs.48,000 and I purchased TVS Jupiter. Indusind offered the tenure of 17 months with good interest rate. I got the NOC after the loan got closed. Overall experience was really good with Indusind.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 02, 2017
    • HDFC Bank Two Wheeler Loan
      "Smooth process"
      HDFC BANK
      0.5 4.0/5 "Great!"
      Happy as HDFC Bank has offered me a two wheeler loan as well and the process which they follow is also very good. It was on time and the rate of interest and processing charges were normal. The after loan services are good and the ECS was deducted on time and in all there were no issues.
      Was this review helpful? 0
      , guwahati
      Reviewed on Aug 02, 2017
    • HDFC Bank Two Wheeler Loan
      "EXCELLENT"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      Hdfc service is awesome with my Two wheeler loan application. All the documentation process was smooth and the loan process. Totally it has given me very good experience. They took around few days of time to disburse my bike loan. The rate of interest is 12% approximate. But the fee and charges are nominal when it comes to HDFC service.
      Was this review helpful? 0
      , sangareddy
      Reviewed on Aug 01, 2017
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