✓ Interest Rates Starting @ 0.99% p.a. ✓ Up to 100% Financing ✓ Repayment Tenure of up to 4 Years Check Eligibility

Two Wheeler Loan Eligibility Criteria

  • Age : Between 18 to 65 Years
  • Minimum Salary : ₹10,000
  • Employment Duration : At least 1 year
  • Employment Status : Salaried or self-employed
  • Residence : Should be residing in the city for at least 1 year

Documents Required for Two Wheeler Loan

You need to keep the following documents ready for while taking a bike loan

1. Address Proof

  • Aadhaar Card
  • PAN
  • Driver’s Licence 
  • Voter’s ID Card
  • Passport


2. Identity Proof

  • An Identity Proof with the permanent address
  • Telephone Bill
  • Electricity Bill
  • Water Tax
  • Property Tax receipt
  • Post-paid Mobile Bill


3. Income Proof, if applicable

  • Latest ITR in case of self-employed/3-month bank statement
  • Three month salary slip/ Form 16 for Salaried


4. Recent Passport size photographs

5. Other KYC Documents

Two Wheeler Loan Eligibility of Top Lenders

Lending Institution

Age Limit

Minimum Income


21 - 65 years

₹10,000 p.m.

State Bank of India (SBI)

21 - 65 years

₹1.5 Lakhs p.a.


21 - 65 years

At the bank’s discretion

Axis Bank

Minimum Age - 21 years

Maximum Age (Salaried) - 58 years

Maximum Age (Self-Employed) - 65 years

Salaried - ₹1.44 Lakhs p.a.

Self-Employed - ₹2.5 Lakhs p.a.


More than 21 years

Contact the bank

L&T Finance

18 - 66 years

At the bank’s discretion

Disclaimer: The eligibility criteria can vary as per the terms and policies of the financial institution.

Factors that Affect Two Wheeler Loan Eligibility

When it comes to bike loan eligibility, there are certain factors that come into play. Though different lenders may have their set of rules, the most common factors are listed below:

  • Age of the Applicant

Unless you are above 21 years you would not be able to apply for a loan in your name. Also, you should be below 65 years of age at the completion of your loan term. Therefore, your age is one of the major factors that can affect your two wheeler loan eligibility.

  • Income of the Applicant

In order to qualify for a two wheeler loan, the financial institution will see your income as a criterion to gauge whether you would be able to pay off the loan amount or not. In most cases, the minimum income required is as low as Rs. 10,000.

  • Credit Score of the Applicant

Your Credit Score is one of the most important two wheeler loan eligibility criteria. When you have a credit score of 750 or more, you are in a stronger position to get a loan, as the score puts you in good standing. It shows that you have been paying your debts on time without defaulting on the payment. On the other hand, with a poor score, your application may be outrightly rejected.

  • Applicant’s Work Experience

Most lender firms expect you to have at least 6 months of work experience with your existing employer before considering you as an ideal prospect for a loan.

  • Current Debt Situation of the Applicant

Your existing debt can also influence your eligibility for a two wheeler. Having too many loans in your name can pose a problem for a lender. Giving you a loan may be a risky proposition for the lender.

  • Downpayment

You automatically decrease the loan amount when you make a high down payment. This makes you a suitable candidate for a loan.

Getting a two wheeler loan was never so easy. There are numerous options that you have today. Online applications, easy EMI options, flexible tenures etc., are features that make owning a bike an attainable dream. Research well in order to make a well-informed decision.

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How to Improve Your Two Wheeler Loan Eligibility?

On the off-chance that you are not eligible to secure a two-wheeler loan, you can improve your bike loan eligibility by undertaking a few measures. These steps will assist you in getting a two-wheeler loan when you apply for one in the future.

  • Improve your credit score: One of the most important criteria that lenders pay close attention to is your credit score. By paying your EMIs and dues on time and not missing any payments, you can significantly improve your credit score. Having a good credit profile gives lenders greater confidence regarding your ability to repay the loan amount.

  • Have a stable job: By reassuring the lender that you have a stable job with a stable source of income, you can bolster your chances of getting a two-wheeler loan. This shows the lending entity that you are a responsible borrower.

  • Maintain a low debt-to-income ratio: The debt-to-income (DTI) ratio allows the lending institution to gauge your debt repayment capacity in relation to your monthly income. That is, the DTI ratio computes the portion of your monthly income that can be paid towards repaying an existing debt. The lower your DTI ratio, the better your chances are to avail of a two-wheeler loan. It is wise to keep the DTI ratio below 40%.

  • Make a down payment: Lenders offer up to 100% funding of the on-road price of the vehicle. However, by making a down payment, you can show the lender that you are capable of making EMI payments on time. Thus, you can opt for a loan amount that covers 60-70% of the vehicle’s on-road price.

Apply with a co-applicant: Another excellent way to improve your chances is by applying for a loan with a co-applicant. As both the applicants’ income sources are taken into consideration, it can significantly improve your chances of getting the two-wheeler loan.

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FAQs on Two Wheeler Loan Eligibility

Can I get a two-wheeler loan without a salary slip?

Yes. You can still get a two-wheeler loan if you have other documents ready and you are applying for the loan with a co-applicant.

How does monthly income affect your two wheeler loan eligibility?

Having a low monthly income negatively affects your chances of getting approved for a two-wheeler loan. Lenders should be convinced of your ability to repay the loan amount and the interest component, and this is only possible when you have a decent monthly income.

Is CIBIL score required for bike loan?

While there is no minimum CIBIL score requirement to get a bike loan, it is recommended that you have a score of at least 700. This allows you to get a decent loan amount, along with a marginal interest rate.

How long does it take for the two-wheeler loan to get processed?

Processing times differ from lender to lender. Today, however, most lenders process the loan application within 24 hours.

Can a salaried person get a two wheeler loan?

 Yes. It is relatively easy for a salaried individual to avail of a two-wheeler loan.

What is the minimum CIBIL Score required for a bike loan?

While there is no specific minimum CIBIL score mandate to get a bike loan, anything above 700 is considered a good credit score while applying for a bike loan.

Does my bike loan eligibility affect the interest rate?

Yes. Several factors influence the interest rate that is levied on your loan amount. This includes your credit profile, employment status and monthly income

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