How do I Know if I Am Eligible For a Two Wheeler Loan? 


Owning a two-wheeler is a dream for many. It represents freedom, convenience, and a suitable way to navigate the roads. If you are thinking about buying a bike, but are worried about how to  finance the purchase, a two wheeler loan might be the right solution for you. 

A two wheeler loan facilitates the purchase of a scooter or motorcycle of your choice. These loans are tailored to working professionals and self-employed individuals, enabling them to repay the loan amount in easy monthly instalments (EMIs). In this blog, we will explore the eligibility criteria for a two wheeler loan, the features, and how you can apply for one. 

Benefits of a Two Wheeler Loan 

There are several appealing aspects to applying for a two wheeler loan, these include: 

  • Attractive Interest Rates: Avail the most competitive bike loan interest rate across India. 
  • Flexible Repayment Tenure: Choose from a wide, easy and flexible repayment tenure, starting from 12 months to 36 months for regular two-wheelers, and up to 60 months for high-end bikes. 
  • Quick Loan Processing: Enjoy quick loan processing time –  within 4 hours, and hassle-free doorstep documentation. 
  • Generous Loan Offering: Get up to 95% on-road finance, with loans starting from Rs. 15,000. 

Eligibility Criteria for Two Wheeler Loan 

To apply for a two wheeler loan, you must meet certain eligibility criteria. Here is a breakdown for both salaried and self-employed individuals: 

1. For Salaried Individuals: 

  • Minimum gross salary of Rs. 10,000/month 
  • Age between 21 and 60 years 
  • Stable current employment 

2. For Self-employed Individuals: 

  • Minimum 3 years of stable business experience 
  • Age between 21 and 65 years 
  • ITR of the last two years / Proof of business 

Documentation Required 

The documentation process is minimal and can be completed online. Here is what you will need: 

1. For Salaried Individuals: 

  • Income proof (Form 16, latest 3 months’ salary slips, or latest income tax returns) 
  • Bank statement 
  • Identity and residence proof 

2. For Self-employed Individuals: 

Income proof 

  • Latest income tax returns 
  • Bank statement 
  • Identity and residence proof 

Self-attested photocopies of the documents mentioned above are required.  If a self-employed individual cannot provide income proof, or has income from an agricultural source, then the documentation requirements will differ. 

How to Apply For a Bike Loan Online 

Applying for a two wheeler loan online is fairly easy. Simply visit the IndusInd Bank website and fill out the online application form. Provide details like your name, mobile number, email address, and pin code. If you meet the eligibility criteria specified by the bank, your loan application will be approved instantly. 

Your Road to Adventure 

A two wheeler loan is an attractive option for anyone who wishes to purchase a bike. With easy online application procedures, flexible repayment terms, and a competitive bike loan interest rate, it is a practical way to make your dream of owning a two wheeler come true. Whether you are a working professional or a self-employed individual, the options to apply for a bike loan online through IndusInd Bank are convenient and easy to use. 

Make your dream of owning a two-wheeler a reality today! Apply now

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