What Are The Documents That You Will Need To Apply For A Two Wheeler Loan?

Bikes in India these days come with hefty sticker prices.

Hence bikers planning to buy a new bike tend to apply for two wheeler loans.

Why?

Well, a bike loan helps a person keep their savings intact!

What are the documents a person would need to submit while applying for a bike loan?

Well, they are as follows – 

For salaried loan applicants – 

ID proof in the form of any one of the following – 

• Passport
• Photo credit Card
• Pan Card
• Driver’s Licence
• Voter’s ID
• Aadhaar Card
• ID card with the applicant’s photograph that is issued by the state or central government of India.
• Two recent passport size photographs (mandatory).

Address Proof in the form of any one of the following – 

• Passport
• Driver’s Licence
• Voter’s ID
• Utility Bill
• Aadhaar card
• Bank account statement
• Post Office savings bank account statement
• Property or municipal tax receipt
• Last 3 month’s salary slips
• Form 16
• Latest ITR
• Last 3 months’ bank statement (mandatory).

For loan applicants who are business persons – 

ID proof in the form of any one of the following – 

• Passport
• Pan Card
• Driver’s Licence
• Voter’s ID
• Aadhaar Card
• Two recent passport size photographs (mandatory)

Address proof in the form of any one of the following – 

• Passport
• Driver’s Licence
• Voter’s ID
• Utility Bill
• Aadhaar card
• Bank account statement
• Post Office savings bank account statement
• Property or municipal tax receipt
• Latest ITR
• Last 3 month’s bank statement (mandatory)

Conclusion

For the best results, be sure to use the bike EMI calculator before applying for a loan!

Must Read: 

How To Choose The Best Two Wheeler Loan?