What Documents Are Required for a Two Wheeler Loan

Bajaj has made it possible for everyone to own their dream bike. With their low-interest loans, anyone can have a bike they want or need. With the rise of the motorcycling culture in India, the lenders should also keep pace as the price of an average bike has now gone up. With foreign brands investing heavily in India, finance companies have got a great future to look ahead to. Nowadays, finance companies offer Two wheeler loan at the lowest interest rates to buy a vehicle.

Here is what you need for applying for a two-wheeler loan –

Eligibility

  • Should be at least 21 years of age

Or 

  • Less than or equal to 65 years at the maturity of the loan
  • Have had a residential address in the city for at least 1 year
  • Salary slips for 1 year must be there
  • Must have a postpaid connection

The documents required for a two-wheeler loan are-

For a Salaried Person

ID Proof – This can be 

  • Passport
  • Pan Card
  • Credit Card with photo
  • Driver’s License
  • Voter ID
  • Aadhaar Card

Address proof – 

  • Passport
  • Driver’s License
  • Voter ID card
  • Utility Bill
  • Aadhaar Card
  • Bank Account
  • Last 3 months salary slips 
  • Form 16
  • Last 3 months bank Statement

For Self Employed People

ID Proof – This can be

Two Recent Passport size photos

Address Proof – This can be 

  • Passport
  • Driver’s License
  • Utility Bill
  • Voter ID card
  • Bank Account Statement
  • Aadhaar Card

Latest Income Tax Return

Last 3 months bank statement

Always use a bike loan calculator to tally your calculation against that of the lender and choose a tenure and EMI that would suit you.

For an online EMI calculator you can use simple steps like select your Loan Amount, Interest Rates and Loan Tenure and get the results in the form of payable EMI’s with interest rates.

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