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Documents Required for Bike Loan

India is home to a lot many bike enthusiasts as it is a very empowering and practical option given the condition of the roads in most Indian cities today. As navigation gets easier, two wheelers have been mushrooming across the country in large numbers. If you are planning to buy a bike or replace your old one but falling short of funds, securing a loan can be quite a tedious process. But with the knowledge of the right bike loan documents and eligibility criteria, this process can be made simple and hassle-free. Read on to know more.

Bike Loan Documents Required for Salaried Individuals:

You should keep the following bike loan documents handy if you’re a salaried employee applying for a two-wheeler loan.

  • ID Proof - This can be the applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s licence or any other photo identity card sanctioned by the State/Central Government/PSU. The list of ID proof documents required for a 2-wheeler also includes two recent passport-size photographs. 

  • Address Proof - The document can be the applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s licence, electricity or water bills or municipal tax receipts.

  • Income Proof - Salary slips from the last 6 months, bank statement for the last 6 months, Form 16 or latest ITR. Some lenders may also require a duly signed and stamped salary certificate from your employer as a valid income-proof document for a bike loan. 

  • Employment Proof - A copy of your current job’s offer letter is also included in the list of documents required for a bike loan.

  • Duly Filled Loan Application Form - You will have to submit these documents with the carefully filled and signed loan application form. 

Bike Loan Documents Required for Self-Employed Persons:

The list of bike loan documents is a little different for self-employed persons. Thus, if you’re a doctor, lawyer or businessman, here’s the list of bike finance documents you’ll require for a two-wheeler loan application.

  • ID Proof - This can be the applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s licence or any other photo identity card sanctioned by the State/Central Government/PSU. You will also need to submit two passport-size photographs for photo-identity verification. 

  • Address Proof - Either the applicant’s Aadhaar Card, PAN Card, Voter ID Card, passport, driver’s licence, electricity or water bills, or property or municipal tax receipts can be used as valid address proof.

  • Income Proof - Bank statements for the last 6 months and most recent Income Tax Return (ITR) documents.

  • Employment Proof - TDS certificate. 

  • Company Address Proof - Either maintenance bill, electricity bill, SME registration certificate, rent agreement or property documents.

  • Existence of Business Proof - The company/business registration certificate, tax registration documents or any other document proving the establishment of the shop will suffice. 

Duly Filled Application Form - All these documents have to be furnished along with the carefully filled loan application form.

Eligibility Criteria For Two Wheeler Loan

Most banks have simple two wheeler loan eligibility criteria that you need to fulfill in order to get a bike loan.  Let us take a look at who can apply for these loans:

Individuals who are:

  • Self-Employed or Salaried person

  • Should be aged between 21 to 60 years (at the end of the loan tenure)

  • Must be employed for at least 1-year

  • Should have been residing in that particular city for a period of 1 year or more

Salient Features of Two Wheeler Loans

  • Most banks and NBFCs have a rather simple eligibility checklist. This allows borrowers to easily avail of two-wheeler loans and purchase their dream bikes without draining their savings. 

  • To make the application process simple, most lenders ensure that the documents required for a two-wheeler loan are quite basic and easy to furnish. 

  • Thanks to the completely digitised and paperless loan application process, applicants can fill up the application form online and upload the documents needed for a bike loan in just a matter of minutes. 

  • Meeting margin requirements is exceptionally easy as most banks and NBFCs offer loan plans that cover up to 100% of your new bike’s on-road price. 

  • While two wheeler loan interest rate will vary from one lender to the next and will depend on your creditworthiness, income and job profile, most lenders offer quite pocket-friendly rates starting from around 9% p.a. 

  • Most lenders cap processing fees at 2.5%-5% of the loan amount and offer loans with zero prepayment charges. 

  • Two-wheeler loans come with comfortable repayment tenures, with most ranging from 12-60 months. 

  • Bike showrooms often collaborate with banks and NBFCs to offer attractive and instant two-wheeler loans to customers. Such tie-ups offer customers benefits like additional discounts, cashback offers, registration fee waivers or free insurance covers. 

  • Some banks offer their existing customers pre-approved bike loan offers that come with added benefits of instant approvals and disbursals, zero documentation and lower processing fees.


If you are looking to buy your dream bike or scooter, it is necessary that you meet the eligibility criteria for two wheeler loans. Along with that, it is imperative to have a thorough knowledge of the kind of documents required based on whether you are a salaried or a self-employed person. Benefiting from the best two wheeler loan ensures that your dream of owning a bike becomes a reality. Thus, you should consider all of the above factors cautiously before making your decision.

FAQs on Bike Loan Documents Required

If you have submitted all the other documents required for a bike loan, you can apply for a bike loan without income proof. In such cases, the chances of getting approval increases if you apply for the loan with an employed co-applicant.

The list of 2-wheeler loan documents required to apply for a loan online is not different from the one used for offline applications. Once you have these documents needed for a bike finance plan ready, simply scan and upload their copies on the lender’s application portal. The lender will then verify these documents and process the application form. 

The time taken to process a two-wheeler loan application will vary from lender to lender. However, most lenders try to process two-wheeler loans within 48 hours, if the applicant has managed to submit all the bike loan documents needed. 

Both salaried and self-employed applicants must submit a valid ID proof, address proof, income proof, employment proof and two passport-size photos along with their duly filled and signed application forms. Self-employed applicants must also submit a business continuity proof along with the other documents needed for a bike loan. 

Different lenders have different mandates with regard to the CIBIL score of the applicant. However, it is advisable to have a CIBIL score of 750 or above, as this places you as a trustworthy borrower and gives you access to lower interest rates. 

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