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Two Wheeler Loans for Students


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.


  • 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.


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.


  • 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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