Tag: documents required for Two wheeler loan

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

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?

Documents Required to Get a Two Wheeler Loan

Bajaj Bikes, bike loan, Two Wheeler Loan

With people living busy lives nowadays it has become essential for them to save all the time they can for the mind and body to rest. Transportation happens to take a large part of one’s daily routine, and there is no guarantee of reaching from point A to point B on time. Plus, the stress of missing out on one form of public transport on-time guarantees to be late to your office or an important meeting. This is why the two-wheeler financing option by banks is pretty reasonable as well as feasible.

There are two types of people who are eligible for application and passing of a Two wheeler loan. They might be different documents that are required for loans from various banks, and financial institutions.

Documents required for Two wheeler loan –

Most commonly, be it for a salaried person or an individual, the documents are quite similar. Recognized identity proof like Aadhar Card or driver’s license, passport-size photographs, address proof, the recent income tax return of the applicant and the applicant’s last three months bank statements. They form the basis of the judgement of the applicant’s payback capacity. On these documents lies the fate of the applicant’s loan status.

Additionally read: –

Documents Required to Get a Two Wheeler Loan