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  • Two Wheeler Loans for Students

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    Two Wheeler Loan
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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 twowheelers 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 twowheeler 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 twowheeler 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 coapplicant is not very high.
    • The student will need to provide a coapplicant/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 coborrower/guarantor.
    • The coborrower should have a steady source of income, and should have valid proof of income.
    • The applicant must be a student.
    • The coborrower 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)
    • Coborrower’s proof of Income:

    You may like to read: Two Wheeler Insurance

    Salaried Coborrower

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

    SelfEmployed Coborrower

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

    News About Two Wheeler Loans for Students

    • 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
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    Two Wheeler Loan for Students Reviews

  • Page 1 of 50 1 2 3 4 5
    • HDFC Bank Two Wheeler Loan
      "Best Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      My experience with HDFC bank for two wheeler loan was good, the loan amount was for Rs 45000 with nominal interest rate when compared to others. Customer service was good and they followed up on time. The tenure period for this loan was for 10 months.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 20, 2018
    • Punjab National Bank Two Wheeler Loan
      "GOOD SERVICE"
      PUNJAB NATIONAL BANK
      0.5 4.0/5 "Great!"
      I have taken my bike loan with PUNJAB NATIONAL BANK , customer support and their response is good with this bank . Rate of interest is is 11% and it is too high compare to other and tenure period is 36 month . They charge 1500 of processing fee and it is nominal .
      Was this review helpful? 0
      , hyderabad
      Reviewed on Sep 18, 2018
    • HDFC Bank Two Wheeler Loan
      "Average"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      My two wheeler loan was taken with HDFC bank 1 year back. The loan amount was 65,000. The customer service and responses was good. The interest rate was satisfactory . The tenure period was 2 years. The documentation was very good and there is no inconvenience at all.
      Was this review helpful? 4
      , kolkata
      Reviewed on Sep 15, 2018
    • review Two Wheeler Loan
      "Good service"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with Bajaj finserv and my experience was good, the loan amount was for Rs 1.20 lacs with nominal interest rate when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 14, 2018
    • Tata capital Two Wheeler Loan
      "Good service"
      TATA CAPITAL LIMITED
      0.5 4.0/5 "Great!"
      I had taken this automobile loan for the purchase of my Royal En-field Bullet and the process in getting this loan had been good. The interest rate with them has been little high when compared with the market rate, and the customer support and their staff responses where good.
      Was this review helpful? 3
      , pune
      Reviewed on Sep 14, 2018
    • review Two Wheeler Loan
      "Not satisfied with the service"
      BAJAJ FINSERV
      0.5 2.0/5 "Expected more"
      The Two Wheeler loan experience i had with them has not been that much satisfactory, the loan amount which they had provided had been less than what i expected. The interest rate with them has been on the higher end, and their customer support and their response had been not that good.
      Was this review helpful? 3
      , pune
      Reviewed on Sep 14, 2018
    • review Two Wheeler Loan
      "Not satisfied with the service"
      INDUSIND BANK LTD
      0.5 2.0/5 "Expected more"
      I had taken this loan in the year of 2012 and the experience had not been that great. The loan amount which they had provided has not been satisfactory and the rate of interest has been high. There has not been a proper response which they have made from their customer support team.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 14, 2018
    • HDFC Bank Two Wheeler Loan
      "Looking for less interest rate"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 41000 where i pay an EMI of Rs 2400. The rate of interest was high when compared to others. Customer service was good and the tenure period for this loan is 24 months.
      Was this review helpful? 1
      , rajahmundry
      Reviewed on Sep 12, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 70000 with nominal interest rate when compared to others. Customer service was good, i pay an EMI of Rs 2400 and the tenure period is 24 months.
      Was this review helpful? 1
      , gulbarga
      Reviewed on Sep 12, 2018
    • review Two Wheeler Loan
      "Good service"
      INDUSIND BANK LTD
      0.5 3.5/5 "Pretty good"
      I have taken a two wheeler loan with IndusInd bank and my experience was good, the loan amount was for Rs 50000 with high interest rate in the market. Customer service was good and they followed up on time. The tenure period for this loan is 18 months.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 12, 2018
    • review Two Wheeler Loan
      "Good Service"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I've applied for a bike loan from the Bajaj Finserv, it was a complete paperless application and approval. . The interest rate was very high. They need to regulate the interest rate and make it in par with the market rate.
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 11, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I've taken a business loan from the HDFC bank. The loan amount was 5 lacs, at the time of the application I've got a competitive rate of interest. It has been a hassle free business loan experience with the HDFC bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 11, 2018
    • ICICI Two Wheeler Loan
      "Best Service"
      ICICI BANK
      0.5 4.5/5 "Excellent!"
      My experience was very good with ICICI bank for two wheeler loan, the loan amount was based on my requirement and it was taken back on 1995. Customer service was very good and their response was on time. The tenure period for this loan is 18 months and the rate of interest was nominal.
      Was this review helpful? 4
      , pune
      Reviewed on Sep 08, 2018
    • L&T Finance Two Wheeler Loan
      "Excellent Service"
      L&T FINANCE LIMITED
      0.5 4.5/5 "Excellent!"
      It has been a very good experience i had with them so far. The process in getting this loan had been smooth and easy and the loan amount which they had provided also had been satisfactory as well. The interest rate with them also had been nominal when compared with the market rate.
      Was this review helpful? 1
      , coimbatore
      Reviewed on Sep 07, 2018
    • review Two Wheeler Loan
      "Good experience"
      KARUR VYSYA BANK
      0.5 5.0/5 "Blown Away!"
      I have taken my two wheeler loan with Karur Vysya bank. The process to get the loan was simple and easy and there are no issues in the documentation as well. The rate of interest and processing charges is normal and in all there has been no issues.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 06, 2018
    • HDFC Bank Two Wheeler Loan
      "Good experience"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was for Rs 55000 with nominal interest rate when compared to other banks. I have taken Honda Shine and made a down payment of Rs 21000. Customer service was good and they responded on time. The tenure period for this loan is 30 months.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 05, 2018
    • review Two Wheeler Loan
      "Good service"
      TVS FINANCE
      0.5 4.0/5 "Great!"
      The process in getting this two wheeler loan has been good and the loan amount which they had provided had been satisfactory as well. The interest rate has been a little high when compared with the market rate, but their customer support and their staff responses had been good where there has not been any hassle so far.
      Was this review helpful? 1
      , jaipur
      Reviewed on Sep 03, 2018
    • HDFC Bank Two Wheeler Loan
      "Good Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have taken a Bike Loan from the HDFC bank. The interest rate was very high, the price of the bike was 2 Lacs and I got the loan for 1.5 Lacs, the rate of interest was very high; a whopping 19% which wasn't a satisfactory experience.
      Was this review helpful? 7
      , pune
      Reviewed on Aug 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Very high interest rate"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I've taken a bike loan from the HDFC bank, The loan amount was 70000. The interest rate was high, they processed the loan pretty fast and the application and documentation was hassle free. It was a smooth loan experience.
      Was this review helpful? 4
      , guwahati
      Reviewed on Aug 31, 2018
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan with HDFC bank and my experience was good, the loan amount was based on requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they responded on time. The tenure period for this loan is 2 years.
      Was this review helpful? 4
      , bangalore
      Reviewed on Aug 29, 2018
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