Two Wheeler Loan Eligibility & List of Required Documents

Two wheeler loan allows middle class borrowers to pay monthly EMIs comfortably as most of them cannot afford to make the lump sum payment due to financial constraints.

Once you decide to apply for a two wheeler loan, it is essential to check your two wheeler loan eligibility. Lenders are extremely cautious and sanction the loan only after checking the repayment capacity of the borrower. Thorough background checks are conducted before the loan is disbursed as there has been a sudden rise in number of defaulters over a period of time.

To make sure your application for the loan is not declined; you must possess necessary documents and declare your exact source of income for speedy approval.


Below are the general two wheeler loan eligibility criteria for two wheeler loans:

  • Minimum age of the loan applicant should be at least 18 years at the time of applying for the loan, and the maximum age limit should be 65 years.
  • Applicant should be residing in the same house for at least one year to show residential stability.
  • Applicant should be in a stable job for at one year or self-employed with IT returns of two years.
  • Applicant should have a good CIBIL score with credit bureaus
  • Applicant should have a permanent telephone number and possess KYC and other related documents.

What are factors affecting two-wheeler loan eligibility?


Your two-wheeler loan eligibility depends on factors like your income, credit score, and current financial obligations.

Credit score:One of the crucial factors considered by your lender to determine your eligibility is your credit score. It is a three-digit number that indicates whether or not you can repay the loan amount without any delays. You will need to maintain a minimum credit score of 750 to secure a two-wheeler loan.

Income:Your two-wheeler loan eligibility also depends on your income. Since a two-wheeler loan is unsecured, you will have to convince your lender that you have a stable source of income. A higher-income will also ensure a lower interest rate.

Outstanding loan:Having large outstanding debts will hurt your two-wheeler loan eligibility. If your lender finds that you have current obligations, you may not be offered a loan.

Tips on how to improve your two-wheeler loan eligibility


Two-wheeler loans can be improved using the following tips:

  • Maintain a higher credit score: when you are applying for a two-wheeler loan, make sure that you have maintained a minimum credit score of 750.
  • Choose a longer loan tenure: Longer loan tenure gives the borrower more time to pay off his EMI. Your two-wheeler loan eligibility increases when you choose a longer loan tenure.
  • Opt for a joint loan: A co-applicant with a good credit score increases your eligibility for a two-wheeler loan.
  • Show additional source of income: When you show your additional sources of income, it indicates that you can repay the loan amount without any delays or defaults.

Documents Required for Two Wheeler Loan


Here is a list of documents required for a bike loan:

Accepted KYC Documents for an Individual Customers:

  1. Passport
  2. Driving License
  3. Voter’s Identity Card
  4. Aadhaar Card
  5. Job Card issued by NREGA
  6. Letter issued by the National Population Register

Deemed to be Officially Valid Documents (DOVD):

  1. Utility Bill*: Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water bill
  2. Property or Municipal tax receipt
  3. Pension or Family Pension Payment
  4. Letter of Allotment of Accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and license agreements with such employers allotting official accommodation.

*Utility bill, in the name of the customer, not more than 60 days old.

Additional Documents for Salaried Persons

Salaried persons:

  • Employment or offer letter
  • Last salary slips <45 Days
  • Last six months bank statements and latest form 16


  • Last three years income tax returns
  • Last six months bank statements
  • Sales tax returns
  • TDS Certificate
  • Company details

Make sure to keep both originals and photocopies of the required documents for loan processing.Based on the above documents,the lender will process your two wheeler loan application, and you can expect a positive outcome on your loan approval.



Yes, a CIBIL score is necessary for a bike loan; CIBIL stands for Credit Information Bureau of India Limited, which is a credit bureau. A CIBIL score can vary from 300 to 900 and is decided by reviewing and accounting your credit history, including your credit card payments.

The required CIBIL score for bike loan is 750 - it enables you to avail a bike loan at a low-interest rate.

A low CIBIL score does not mean that you cannot apply for a bike loan. It simply raises the rate of interest on the loan.

Contact us for more information to know your credit score and its effect on your eligibility.

A: There are four simple steps to avail a two-wheeler loan online:
  • Step 1: Fill the form for a two-wheeler loan on our portal, and our representative will get in touch with you.
  • Step 2: Visit the showroom of your chosen two-wheeler's dealership. Our representative will guide you through the loan formalities when you arrive.
  • Step 3: Submit the required documents, as stated by our representative, for verification.
  • Step 4: Pick up the two-wheeler after the loan gets approved. Make the initial down payment. Once all the formalities are completed, you can take the two-wheeler home with you.
A: The bike loan’s maximum tenure is 36 months, making it easy for you to divide it into EMI’s and repay the loan amount.
A: When buying a bike, the lender will require a certain amount as a down payment, and the rest can be converted to monthly installments. This bike loan down payment is calculated based on the following factors.
  • Cost of the Bike: The down payment will depend on your bike's price, whether it is high or low.
  • Repayment Capacity: The down payment for the bike loan is also calculated depending on your repayment capacity.
  • Credit Score: The higher your credit score, the higher is the amount of loan you can avail. The down payment will also ensure lower EMI's and fewer chances of defaulting while maintaining a high credit score.
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