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Documents Are Required For A Two-Wheeler Loan

Given the state of the roads in most Indian cities today, biking is a highly powerful and practical option for many people in India. Two-wheelers are increasing across the country as navigation becomes easier. If you want to buy brand new bikes or replace an old one but lack the necessary finances, obtaining a loan might be time-consuming.

However, this process can be made straightforward and painless with the correct bike loan documentation and qualifying requirements. Continue reading to learn more.

Documents Required For Bike Loans For Salaried People

If you are a salaried employee looking for a two-wheeler loan, keep the following bike loan documentation on hand.

  • ID PROOF – This might be the applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driving license, or any other picture identity card approved by the State/Central Government/PSU. Two current passport-size photographs are also required as ID-proof documents for a two-wheeler.
  • ADDRESS PROOF – The applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s license, electricity or water bills, or municipal tax receipts can be used as proof of address.
  • INCOME PROOF – Includes salary slips from the last six months, bank statements from the previous six months, Form 16, or the most recent ITR. As an acceptable income-proof document for a bike loan, certain lenders may also require a fully signed and stamped salary certificate from your job.
  • EMPLOYMENT PROOF – A copy of your present job offer letter is also necessary for a bike loan.
  • LOAN APPLICATION FORM – You must send these documents along with the loan application form, which must be thoroughly filled out and signed.

Documents Required For Bike Loans For Self-Employed Individuals

For self-employed individuals, the list of bike loan documentation differs slightly. As a result, if you’re a doctor, lawyer, or businessman, here’s a list of bike finance paperwork you’ll need to apply for a two-wheeler loan.

  • ID PROOF – The applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s license, or any other picture identity card sanctioned by the State/Central Government/PSU can be used. In addition, two passport-size pictures will be required for photo-identity verification.
  • ADDRESS PROOF – Legitimate address proof can be the applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s license, electricity or water bills, or property or municipal tax receipts.
  • INCOME PROOF – Income documentation includes bank statements from the previous six months and the most current Income Tax Return (ITR) paperwork.
  • EMPLOYMENT PROOF – TDS certificate as proof of employment.
  • COMPANY ADDRESS PROOF – A maintenance bill, an electricity bill, an SME registration certificate, a rent agreement, or property paperwork.
  • PROOF OF BUSINESS EXISTENCE – The company/business registration certificate, tax registration documents, or any other document demonstrating the shop’s establishment would suffice.
  • APPLICATION FORM – All of these documents, along with a thoroughly completed loan application form, must be provided.

Two Wheeler Loan Eligibility Criteria

Most banks have straightforward two-wheeler loan qualifying criteria that you must meet to obtain a bike loan. Let us look at who is eligible to apply for these loans:

Individuals that qualify as:

  • Self-employed or a salaried individual. 
  • Your age should be between 21 and 60. (Upon expiration of the loan tenure).
  • Must have worked for at least one year.
  • You must have lived in that city for a minimum of one year.

Highlights Of Two-Wheeler Loans

  • Banks and NBFCs have fairly specific eligibility requirements. Borrowers can obtain two-wheeler loans and purchase their dream bikes without depleting their money.
  • Most lenders ensure that the documentation required for a two-wheeler loan is straightforward to provide to simplify the application process.
  • Because the loan application process is digital and paperless, candidates may fill out the application form online and upload the required documents for a bike loan in just a few minutes.
  • Meeting margin requirements is easy because most banks and NBFCs provide loan plans that cover up to 100% of the on-road price of your first bike.
  • While the interest rate on a two-wheeler loan varies from lender to lender and is determined by your creditworthiness, income, and employment profile, most lenders provide affordable rates starting at around 9% p.a.
  • Most lenders set processing fees at 2.5%-5% of the loan amount and provide zero-interest loans.
  • Most two-wheeler loans have reasonable repayment terms ranging from 12 to 60 months.
  • Bike shops frequently work with banks and NBFCs to provide consumers with attractive and quick two-wheeler financing. Customers profit from such collaborations by receiving additional discounts, cashback incentives, registration fee exemptions, or free insurance coverage.
  • Some banks offer pre-approved bike loan offers to their existing customers, with the added benefits of rapid approvals and disbursals, no documentation, and lower processing fees.


To buy new bike or scooter, you must complete the qualifying requirements for two-wheeler loans. Along with that, it is critical to understand the types of paperwork required based on whether you are a salaried or self-employed individual. You are taking advantage of the right two-wheeler loan guarantees that your goal of having a bike becomes a reality. As a result, before making your decision, you should carefully evaluate the above criteria.

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