Planning to Buy a New Bike with Two Wheeler Loan? Keep Ready these Documents!

Buying a two-wheeler is exciting but it can also be intimidating depending on the financial burden that you have. Whilst you might think that putting it on hold until you gain financial stability is a good idea, prolonging it will only accumulate more purchases at the end of the day. Therefore, it is better to avail a two wheeler loan to accomplish your immediate goal of owning a bike. Let us start off by understanding what a two wheeler is.

What Is A Two Wheeler Loan?

A Two wheeler loan refers to the money borrowed from either financial institutes or individual lenders for a specific period at a certain charge, known as interest rates. During that tenure, the borrower has to repay the entire loan amount with interest.

With digitalisation in the picture, a lot has changed in terms of the application procedure for a bike loan. Not only has the process become more efficient and faster, but it has also become less cumbersome compared to the earlier times because of the lesser documents needed.

If you’re planning to purchase a bike loan and have no clue about the different kinds of documents required for the loan, do not worry. We have put together every piece of vital information that you need to know about the various documents required for a bike loan.

Documents Required For A Bike Loan (Salaried Employee)

For working professionals and salaried employees, that is, those who receive steady paychecks, this is the list of documents needed to apply for a bike loan:

  • ID Proof (Aadhar card, PAN card, Driver’s license, Passport, Voter’s ID, etc.)
  • Address Proof (Utility Bills- electricity/gas, Aadhar card, PAN card, Driver’s license, Passport, Voter’s ID, etc.)
  • Two recent passport-size photographs
  • Salary Proof (salary slips) or Form 16 or Latest ITR (Income Tax Return)
  • Recent bank statements (usually last three months, but it can vary depending upon the lender)

Documents Required For A Bike Loan (Self-Employed)

For self-employed individuals, that is, those who own a business that generates revenue for them, rather than working for someone else, the documents mentioned below are necessary:

  • ID Proof
  • Address Proof
  • Two recent passport-size photographs
  • Latest ITR
  • Recent bank statements 

How To Check Your Eligibility For A Bike Loan?

Before applying for any loan, you must always check their eligibility. You can easily calculate EMIs using a Two wheeler loan EMI calculator to have an idea of how much the repayment amount will be for each month. Although different lenders might have a different eligibility criteria for the loan, the basic structure which if followed by all is given below:

  • Borrower should be 21 years old
  • If the borrower is 18 years old, then they must apply with a co-applicant
  • Maximum age limit for a borrower is 65 years
  • Must be a citizen of India
  • Should either be a salaried employee (for at least a years) or self-employed (with at least two years of ITRs)
  • The borrower must be living in the same house for a minimum of one year to delineate financial and residential stability
  • Permanent contact number (some lenders also demand that the borrower must have a postpaid connection only)
  • Have KYC and other related documents ready
  • A good CIBIL score


Checking your eligibility with the concerned lender and keeping all the documents ready before you apply for a bike loan is a necessity to avoid any hurdle later on in the process. Since different lenders and financial institutions that provide funding have particular distinctions, it is better to ask them personally about the application procedure thoroughly. Availing a bike loan is simple if you’ve researched and are prepared well enough.

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