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Two Wheeler Loans for Students

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The two wheeler is one of the most popular modes of transport in India and has become an almost essential commodity for the average Indian’s daily commute. India is one of the largest manufacturers of two wheelers in the world and is considered one of the best markets for small to medium capacity two wheelers. Many manufacturers from around the world have started operations in the country and have designed many models to suit Indian roads. With these new models entering the markets, many banks have also decided to introduce loans for two wheelers with varying eligibility criteria, so that they will be able to cater to every segment of the market. A demographic among which two wheelers are quite popular are students, but most students do not have the finances to purchase a new two wheeler, for this very purpose, some banks have decided to provide two wheeler loans to students under certain special conditions, as they are not yet earning members of society. In the following paragraphs the various criteria a student will need to fulfill to be eligible for a two wheeler loan have been discussed, along with the applicable interest rate and other charges.

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Features

  • The minimum repayment period for a two wheeler loan provided to a student is 3 years.
  • The income requirement for the co-applicant is not very high.
  • The student will need to provide a co-applicant/guarantor to avail this type of loan.
  • Most banks take up to 3 days to process the documents.
  • Two wheelers loans for students are unsecured.
  • There is no restriction on the type of vehicle the student may purchase by availing this type of a loan.

Eligibility

There are various factors taken into consideration by the bank before providing a student with a two wheeler loan. The eligibility criteria for student two wheeler loans have been listed below:

  • The minimum age of the applicant should be 18 years.
  • The applicant will need to apply for this loan along with a co-borrower/guarantor.
  • The co-borrower should have a steady source of income, and should have valid proof of income.
  • The applicant must be a student.
  • The co-borrower should have a good CIBIL score. Most banks prefer to transact with individuals who have a CIBIL score of 700 or more.
  • Banks prefer the applicant to have some for of permanent address.

Documentation

  • Proof of identity (Voter ID, Passport, Aadhaar Card, Driver’s License)
  • Proof of address (Utility bills, Bank passbook, Voter ID, Passport, Aadhaar)
  • Co-borrower's proof of Income:

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Salaried Coborrower

  • Last 6 months pay slips.
  • 6 months’ bank statements.

Self-employed Co-borrower

  • 2 year’s income tax returns.
  • Bank statements for the last 1 year.
  • Proof of business

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News About Two Wheeler Loans for Students

  • 2019 Kawasaki KLX140G Introduced to the Indian Market at Rs.4.06 Lakh

    The Kawasaki MY2019 KLX 140G has finally made its way to the Indian market. Featuring an ex-showroom price of Rs.4.06 lakh in Delhi, the updated version of the dirt bike carries new body graphics and weighs only 99 kgs. While the engine and the mechanical components of the 2019 KLX 140G remains unchanged, the bike is powered by a 144cc, air-cooled, single-cylinder SOHC engine coupled with a 5-speed gearbox. The motorcycle is the intermediate model in the KLX series, and is ideal for beginners who want to gain experience in trail riding. Furthermore, this lightweight bike suits a wide variety of off-roaders. The suspension duties of the 2019 Kawasaki KLX140G is handled by 33mm telescopic forks with 190mm of travel at the front along with an aluminium monoshock that offers 200mm travel at the rear end. This dirt bike carries a 220mm petal disc brake at the front end and a 190mm petal disc brake at back. With a fuel tank capacity of 5.8 litres, the KLX 140G has a ground clearance of 315mm and a seat height of 860mm. This motorcycle is based on a semi-double cradle frame and features 21-inch and 18-inch front and rear multi-spoke wheels in addition to off-road specific tyres. The KLX series from Kawasaki is expected to compete against the Suzuki dirt bikes, which are likely to be launched in the country soon.

    20 December 2018

  • Rent-A-Bike Policy Likely to Make a Comeback

    The AAP Government is all set to revive the policy of renting bikes, which came as a great news for most Delhiites. This scheme was operative a few years back, which was followed by its sudden cancellation.

    Recently, the Delhi Government announced that the scheme is making a comeback. Having received multiple proposals from various dealers already, the policy also focuses on decongestion of the already populated city thereby significantly lowering the usage of cars (four-wheelers) and bolstering the last mile connectivity. This measure has also come as a boon for the women residing in Delhi.

    Cities such as Goa, Bangalore, and such have already undertaken this scheme and Delhi is following suit. The main motive here is to promote safety awareness and depopulate the city.

    17 May 2018

  • Hero Super Splendor launched at a price of Rs.57,190 in India

    Hero MotoCorp, the Indian motorcycle manufacturer has launched the Super Splendor bike at Rs.57,190 in India. The Hero Splendor is one of the best-selling bikes in the country. Hero MotoCorp has spruced up the Splendor model for the 2018 launch with cosmetic updates and a more powerful engine. The Super Splendor bike is available in 5 metallic colours - heavy grey, candy blazing red, purple, black with silver, and black with fiery red. The bike is powered by a new air-cooled 125cc one-cylinder engine that generates 11.5 PS power and 11 Nm torque. Hero MotoCorp leads the 125cc segment with more than 55% market share.

    13 March 2018

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Two Wheeler Loan for Students Reviews

Page 1 of 50 1 2 3 4 5
  • HDFC Bank Two Wheeler Loan
    "Good service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I had two wheeler loan through HDFC BANK . I have completed this loan . They provide me the loan on time . Their customer support and their response has been good and has been helpful as well.There is so much hidden charges and this is unhappy part . Overall it is good .
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 24, 2019
  • HDFC Bank
    HDFC Bank Two Wheeler Loan
    "Average service"
    HDFC BANK
    0.5 3.0/5 "Satisfactory"
    I have taken Two wheeler loan with HDFC bank, the showroom agent had given me this loan, the loan amount which they have given to me was sufficient they have given me based on vehicle price, the rate of interest they have charged me was nominal, this year the loan is going to get closed.
    Was this review helpful? 0
    , vadodara
    Reviewed on Jun 24, 2019
  • Shriram City Two Wheeler Loan
    "Average service"
    SHRIRAM CITY UNION FINANCE
    0.5 3.0/5 "Satisfactory"
    I took two wheeler loan with Shree ram finance, the loan amount was sufficient after giving down payment they given me loan amount maximum , the company use to pay the emi for the loan every month, if unfortunately i forgot to pay emi they use to charged 500 as late payment charges.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 24, 2019
  • ICICI Two Wheeler Loan
    "Excellent service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I was holding Two wheeler loan with ICICI bank previously, the loan amount which they have required me was sufficient as per my requirement, that time it was offer of Zero rate of interest and even processing fee was zero, so far they did not charged me any hidden charges. Now i have closed this loan.
    Was this review helpful? 0
    , ghaziabad
    Reviewed on Jun 24, 2019
  • HDFC Bank Two Wheeler Loan
    "Not happy services "
    HDFC BANK
    0.5 3.0/5 "Satisfactory"
    I had two wheeler loan with HDFC BANK , i am not happy with the services because i did foreclosure and they charge very high on that . The customer services response is not good they need to improve a lot in that . The loan amount i applied i got the same .
    Was this review helpful? 1
    , pune
    Reviewed on Jun 23, 2019
  • review Two Wheeler Loan
    "Best service"
    INDUSIND BANK LTD
    0.5 5.0/5 "Blown Away!"
    I had selected the INDUSIND BANK CREDIT CARD since i was looking for a life time free card. The process in getting the card was good but the verification process was a little more. The credit limit with the card is good and there is good benefits like recently i had made a purchase and i had got an instant cash back.
    Was this review helpful? 0
    , agartala
    Reviewed on Jun 23, 2019
  • L&T Finance Two Wheeler Loan
    "EXCELLENT"
    L&T FINANCE LIMITED
    0.5 5.0/5 "Blown Away!"
    I have closed the two wheeler loan on 2017. The documentation process was simple and quick also there was a down payment paid which was 21k, duration is for repaying the loan was 24 months. The rate of interest was nominal. The customer support is good.
    Was this review helpful? 1
    , warangal
    Reviewed on Jun 22, 2019
  • HDFC Bank Two Wheeler Loan
    "Need to improve many things"
    HDFC BANK
    0.5 3.0/5 "Satisfactory"
    The two wheeler loan from HDFC i not chosen by me and it was chosen by the dealer. They have made some extra charges like fore-closure charges, interest rate and forcefully applied insurance for loan. I can close the loan within 1 year and they have given me a insurance of Rs. 5000 which increase my loan amount as well. They are not doing the things what they have promised to the customers.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 22, 2019
  • ICICI Two Wheeler Loan
    "Good competitor in the market"
    ICICI BANK
    0.5 4.0/5 "Great!"
    Taken my two wheeler loan from ICICI. Its because of the quick approval i have chosen them. I have applied the loan amount of RS. 30000 and i have taken the loan 4 years back and i have closed it already. I'm not sure about the interest rate. Overall, the services was good in ICICI.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 22, 2019
  • HDFC Bank Two Wheeler Loan
    "Best service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I've taken a two loan from the HDFC BANK , the interest rate was pretty much good . The application process was easy and hassle free. It has been a pleasant personal loan experience with the HDFC bank. Overall it has been good experience . The tenure period is fine .
    Was this review helpful? 0
    , kaithal
    Reviewed on Jun 21, 2019
  • review Two Wheeler Loan
    "Good service"
    BAJAJ FINSERV
    0.5 5.0/5 "Blown Away!"
    I had a two wheeler loan with Bajaj Finserv before 6 years. I have purchased Platina and CT 100. The loan process was easier and the interest rate is affordable. The customer service is good. The processing fee is 1% and closing charges are 6% of outstanding principal.
    Was this review helpful? 0
    , visakhapatnam
    Reviewed on Jun 21, 2019
  • HDFC Bank Two Wheeler Loan
    "Good"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have a two wheeler loan with HDFC BANK and its only 40K. The rate of interest is good. I have completed the loan by last year. There was a processing which was 1.5%. The documentation process was simple but the time of closing the loan is difficult where I need to visit the branch.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jun 21, 2019
  • L&T Finance Two Wheeler Loan
    "Good service"
    L&T FINANCE LIMITED
    0.5 5.0/5 "Blown Away!"
    I have taken my bike loan with L&T . Loan amount . There is no hidden charges . The tenure period is fine .The whole loan process was easy and super fast. It was a super fat loan experience. Overall it was a very good loan experience. Rate of interest is very nominal here .
    Was this review helpful? 0
    , pune
    Reviewed on Jun 20, 2019
  • L&T Finance Two Wheeler Loan
    "Best service"
    L&T FINANCE LIMITED
    0.5 4.0/5 "Great!"
    I have taken bike loan through L&T , the customer service is good and i did not face any issue at the time of documentation time . There is no hidden charges with this bank and tenure period is fine . Loan amount is up to the mark. Rate of interest is good .
    Was this review helpful? 0
    , mumbai
    Reviewed on Jun 20, 2019
  • Shriram City Two Wheeler Loan
    "Good"
    SHRIRAM CITY UNION FINANCE
    0.5 5.0/5 "Blown Away!"
    I have selected shriram finance two wheeler loan model of bike activate 5 g loan amount Rs 65,000and Rate interest 10.99%. while documents submitted through show room itself and customer service is good and responsive.I will recommend to my friends and relatives.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 19, 2019
  • ICICI Two Wheeler Loan
    "Good service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have my two wheeler loan with ICICI BANK . The process of getting loan was good i did not face any issue while getting the loan . The documentation part was also very easy . Rate of interest and processing fee is very nominal . Loan amount is very satisfactory .
    Was this review helpful? 0
    , thane
    Reviewed on Jun 19, 2019
  • Tata capital Two Wheeler Loan
    "Faster process"
    TATA CAPITAL LIMITED
    0.5 4.0/5 "Great!"
    The interest rate is okay with Tata Capital and I took a two wheeler loan before 6months. I have purchased Honda Activa and made down payment of near about 20K. There was a processing fee and they have offered me a loan of 40K. The tenure is 24 months.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jun 19, 2019
  • HDFC Bank Two Wheeler Loan
    "Good"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have purchased Honda Shine and took a loan from HDFC BANK before one year. The interest rate is nominal and they have charged me minimum processing fee. The customer service is good and very responsive. The loan tenure is 24 months and am paying 3500 as EMI.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jun 19, 2019
  • HDFC Bank Two Wheeler Loan
    "Convenient loan "
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken a two wheeler loan in the year of 2018 and i have closed the loan in 2010 but still i didn't receive my NOC letter. Interest rate offered to me was a nominal one. They are helping us to buy the bike. I have taken the loan amount of Rs.30000. I pay the premium amount of Rs.3200.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jun 19, 2019
  • review Two Wheeler Loan
    "Convenient loan "
    INDUSIND BANK LTD
    0.5 5.0/5 "Blown Away!"
    In 2016, i have purchased the two wheeler loan from Indusind bank. I have received a letter that i need to visit the bank for the closure of the loan and to get the NOC. Once i got the showroom, many sales executive were available for approaching the loan hence Indusind approached me i have chosen them.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jun 19, 2019
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