documents for bike loan

What are the documents for bike loan that lenders require?

If you have decided to purchase a bike on loan, make all arrangements from your side so that your loan gets approved and disbursed at the earliest. Some lenders are very stringent regarding the eligibility criteria that they specify and the documents that they require as proof of your declaration. Before filling out the application form, go through the list of documents for bike loan mentionedon thewebsite of the lender or call up the helpline number. Read on to know in detail about the process.

While assessing your eligibility for the loan, the lender would scrutinise several things like your source of income, repayment capacity, etc. The eligibility criteria may differ between the lenders but there are certain standard requirements that you may have to fulfil. These include:


To get a bike loan, you have to be 18 years old at least. The upper age limit may vary but at most, it can be 65 years with most lenders, so that it stays approximately within the retirement age. This is crucial for the lenders as they want the repayment on time.

KYC (Know Your Customer) requirements

You have to disclose your current address, identity, a permanent contact number, etc. For a bike loan, you have to stay at the current location for at least a year and apply for the loan from that location only. This is proof of your residential stability and is crucial for the lenders. There should be supporting documents to validate this.

Source of income

You can be a salaried professional or self-employed but you should have a regular income. Lenders may ask for a minimum job duration of one year. If you are self-employed or have a business of your own, get the copies of the IT returns that you have filed for the last three to four years. Sometimes a high income works in your favour and you can negotiate with the lender for a lower rate of interest. The lender may also fix a lower rate of interest if he is convinced by your credentials.


Your personal credit score is calculated by credit rating agencies like CIBIL (Credit Information Bureau of India Limited). They take into account the payments and defaults on your credit cards, ongoing loans, etc. Lenders would check this score as well as your business credit score if you are self-employed. A credit score of 750 or more would give you a higher chance of getting the loan. Also, you may manage to get it at a lower rate of interest. If the score is low, your chances of getting a loan at low-interest rates go down.

Ongoing loans

If you have already taken some loan and are paying EMI (equated monthly instalment) on it, it may affect your chances of another loan getting approved. Some lenders are rigid enough not to approve any further loan while others may increase the rate of interest on the current one. They would cross check on the defaults (if any) and the time between your loan application and the default.

You need to provide documentary evidence against your declaration for the two wheeler loan application. The lenders usually ask for both original and photocopies of the following based on whether you are a salaried professional or self-employed:

For salaried professionals

  • The requirements are KYC documents consisting of Passport, Aadhar card, Pan card, etc.
  • As proof of your address, you can submit your utility bills, bank account, or post office savings account statement. Address proof can be in the name of your parents or spouse.
  • Salary slips for the last few months along with salary statements
  • Passport size photographs
  • Proof of authentic signature
  • Registration certificate of your bike
  • Form 16

For self employed people or business owners

  • KYC documents consisting of Passport, Aadhar card, Pan card, etc.
  • Address proof may consist of your utility bills, bank account, or post office savings account statement. Address proof can be in the name of your parents or spouse if the ownership of the place is not in your name
  • Passport sized photos
  • Proof of signature verification
  • Bike registration certificate
  • Income tax return copies for the last few years
  • TDS certificate
  • Details about your business like licences, etc

You may submit hard copies of the above documents or soft copies of the same if it is issued by the government or reliable sources.

Getting a bike loan is easy, provided that you fulfil the eligibility criteria. Go through the requirements by contacting the lender’s office or visiting the website before you apply. Apart from that, submit the documents and proofs as required by the lender. If he is convinced, he may approve and disburse the loans on a fast-track process.

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