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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:

You may like to read: Two Wheeler Insurance

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

Essential Two Wheeler Loan Pages
Two Wheeler Loan by Banks
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Two Wheeler Loan for Students Reviews

Page 1 of 50 1 2 3 4 5
  • review Two Wheeler Loan
    "Excellent Service"
    BANK OF BARODA
    0.5 5.0/5 "Blown Away!"
    It was quite a good experience with this loan where the process went pretty well. The loan amount has been sufficient and the interest rate with them has been nominal. The charges which they had made has been less and their was a help from the staffs and customer support as well.
    Was this review helpful? 2
    , navi mumbai
    Reviewed on Jan 18, 2019
  • review Two Wheeler Loan
    "Good service"
    BAJAJ FINSERV
    0.5 4.0/5 "Great!"
    My experience with Bajaj finserv for two wheeler loan was good, loan amount was based on my requirement and the rate of interest was nominal when compared to others. I received my loan on time and the tenure period for this loan was for 20 months.
    Was this review helpful? 1
    , bangalore
    Reviewed on Jan 17, 2019
  • L&T Finance Two Wheeler Loan
    "Beneficiary loan"
    L&T FINANCE LIMITED
    0.5 4.0/5 "Great!"
    L&T Finance is a very good company for two wheeler loan. I have got a sufficient loan from them. I have given all the documents to the showroom people. I have got the loan amount of Rs. 54000. I am paying the EMI of Rs. 2600 for the tenure period of 3 years.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 17, 2019
  • review Two Wheeler Loan
    "Good in Service"
    BAJAJ AUTO FINANCE
    0.5 4.5/5 "Excellent!"
    I had taken a two wheeler loan from Bajaj Finance and when I applied , my application was taken care and it was processed on time. It was a quick processing and also the interest rates were reasonable . If you buy a bajaj vehicle you get it at low interest .
    Was this review helpful? 1
    , mumbai
    Reviewed on Jan 17, 2019
  • Tata capital Two Wheeler Loan
    "Should be stick with the commitment"
    TATA CAPITAL LIMITED
    0.5 3.0/5 "Satisfactory"
    One and half month back I took two wheeler loan, I went to the showroom there I bought motor cycle. There I submitted the documents they processed it. They took lots of time to get the loan approval. They said I would get flat rate of 8.75% but they gave higher interest.
    Was this review helpful? 2
    , new delhi
    Reviewed on Jan 14, 2019
  • HDFC Bank Two Wheeler Loan
    "Excellent"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    Previously I took my two wheeler loan before 4 years and its been completed. Its a good experience, the rate of interest is low and the customer support is very responsive. They have given good offers. I am satisfied with the benefits and the interest rate so I have chosen HDFC BANK. There was no delay and it was immediate.
    Was this review helpful? 3
    , bangalore
    Reviewed on Jan 14, 2019
  • HDFC Bank Two Wheeler Loan
    "Good in Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I carry a salary account in HDFC bank and i had applied for a two wheeler loan with HDFC . My application was processed on time and there was no delay.The interest rates were reasonable and i was happy with the services. HDFC is serving good to their customers.
    Was this review helpful? 2
    , salem
    Reviewed on Jan 13, 2019
  • Bank of Maharashtra Two Wheeler Loan
    "Fast Two wheeler loan approval"
    BANK OF MAHARASHTRA
    0.5 5.0/5 "Blown Away!"
    Bank of Maharashtra gave me standard rate of interest on bike loan, I went to the bank and done the form filling and other documentation submission on the same day they verified and approved on the loan. On next day my Hero honda bike got delivered.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 11, 2019
  • HDFC Bank Two Wheeler Loan
    "Very Good Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    The experience i had with this loan has been quite good and the loan amount which they had provided has been sufficient as well. There has not been any extra charges which they had made so far. The customer support and their staff responses has also been good as well.
    Was this review helpful? 1
    , gandhinagar
    Reviewed on Jan 10, 2019
  • review Two Wheeler Loan
    "Very Good loan"
    HOME CREDIT INDIA FINANCE PRIVATE LTD
    0.5 5.0/5 "Blown Away!"
    Bought my two wheeler by using this Home credit. I purchased the loan amount of Rs. 46000. I have paid the EMI of Rs. 4500. Total tenure period of the loan is 1 year. I'm not sure about the interest rate and there was a processing fee of Rs. 500. I have got the loan instantly.
    Was this review helpful? 0
    , gurgaon
    Reviewed on Jan 10, 2019
  • review Two Wheeler Loan
    "Very Good loan"
    INDUSIND BANK LTD
    0.5 4.5/5 "Excellent!"
    I have purchased a bike from a Honda dealer and they have given the loan application and they have processed the loan. I'm not sure about the interest rate. I bought this loan about 7 months ago. I have been paying the EMI of Rs. 3500 per month. Total tenure period of the loan is 17 months.
    Was this review helpful? 1
    , new delhi
    Reviewed on Jan 09, 2019
  • ICICI Two Wheeler Loan
    "Best Service"
    ICICI BANK
    0.5 5.0/5 "Blown Away!"
    I have taken two wheeler loan 7 years back and my experience was good, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is 2 years.
    Was this review helpful? 4
    , bangalore
    Reviewed on Jan 09, 2019
  • review Two Wheeler Loan
    "Good"
    BAJAJ AUTO FINANCE
    0.5 4.0/5 "Great!"
    Earlier I had a two wheeler loan with Bajaj Auto Finance. On that day, I did not compare the rate of interest with others. The interest rate was okay and they have processed the loan immediately. The documentation procedure is very simple but the people made it complicated by capturing wrong date of birth.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 08, 2019
  • HDFC Bank Two Wheeler Loan
    "Not process with HDFC Executive"
    HDFC BANK
    0.5 1.0/5 "Really Bad"
    I have taken a Two Wheeler Loan from HDFC Bank . The rate of interest was 24% which was processed by the showroom executive which I came to know later. But HDFC Bank has offered me a interest rate of 14%. Also 6% charges for pre closure. I have purchased a Yamaha FZ. I have no issues with the HDFC Bank but only because of the executive, am not happy with the service.
    Was this review helpful? 3
    , chennai
    Reviewed on Jan 08, 2019
  • HDFC Bank Two Wheeler Loan
    "Best Service"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    I have taken two wheeler loan with HDFC bank and it was a good experience, loan amount was not an issue but the rate of interest was nominal when compared to other banks. Customer service was good and they followed up on time. Tenure period for this loan is 2 years.
    Was this review helpful? 1
    , jaipur
    Reviewed on Jan 08, 2019
  • HDFC Bank Two Wheeler Loan
    "Good Two wheeler loan"
    HDFC BANK
    0.5 5.0/5 "Blown Away!"
    My two wheeler loan was taken from HDFC. I got the loan in the year of 2015. I purchased the loan amount of Rs. 45000. I have received the loan immediately. I'm paying the EMI amount of Rs. 2400 with the tenure period of 2 years. The services has been fine so far.
    Was this review helpful? 1
    , gurgaon
    Reviewed on Jan 08, 2019
  • Shriram City Two Wheeler Loan
    "Very Good Loan servicces"
    SHRIRAM CITY UNION FINANCE
    0.5 5.0/5 "Blown Away!"
    I have purchased a two wheeler insurance in 1.5 years back. I have selected Shriram Finance. I have purchased a loan amount of Rs. 45000. They have given me a nominal interest rate. I have been paying the EMI of Rs. 2454. Total tenure period of the loan is 3 years. I have received the loan on time.
    Was this review helpful? 1
    , gurgaon
    Reviewed on Jan 08, 2019
  • HDFC Bank Two Wheeler Loan
    "Its Good"
    HDFC BANK
    0.5 4.0/5 "Great!"
    I am an existing customer of HDFC hence they gave me the pre approved two wheeler loan offers, the interest rate is standard. After the loan process, there is no communication from the customer support, because I am promptly making my payment. The loan amount is Rs. 65,000 for the tenure of 3 years.
    Was this review helpful? 2
    , ahmedabad
    Reviewed on Jan 07, 2019
  • review Two Wheeler Loan
    "Good Loan"
    BAJAJ FINSERV
    0.5 5.0/5 "Blown Away!"
    I have taken my two wheeler loan by using the Bajaj Auto Finance. I have purchased the loan in 5 years ago. I was purchased the loan amount of Rs. 60000 and they have offered me a interest rate was nominal. I made the payment by EMI. I have selected the tenure period of 1 years. I made the EMI amount of Rs. 4000.
    Was this review helpful? 1
    , hyderabad
    Reviewed on Jan 07, 2019
  • HDFC Bank Two Wheeler Loan
    "Good in Need"
    HDFC BANK
    0.5 4.5/5 "Excellent!"
    I got account in HDFC and i had applied for a two wheeler loan. My request in HDFC bank was taken care and was processed on time, There was no delay and when it comes to interest rates its reasonable. HDFC are good in services and i am a customer of HDFC from long.
    Was this review helpful? 2
    , chennai
    Reviewed on Jan 06, 2019
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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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