Keep these documents ready to avail a two-wheeler loan online


Two-wheelers are the perfect vehicles to navigate the congested Indian roads. Their cost-effectiveness, low fuel consumption and ability to cover moderately long distances make them ideal for commuters. However, quite often your dream of owning your favorite two-wheeler is hampered by your financial situation. That’s when a two-wheeler comes to your rescue. Banks, captive financiers, and NBFCs offer two-wheeled loans at varying interest rates.

Two-wheeler loans allow you to choose from a range of two-wheelers – affordable and expensive. Plus, you can choose the length of your loan that you’re comfortable with. This way, you won’t have to go beyond your means to pay the monthly EMI while enjoying the benefits of owning a two-wheeler.

Approval for a two-wheeler loan depends on a variety of two-wheeler loan eligibility criteria, including your credit score, debt-to-equity ratio, and credit history. You also need to submit several documents during the KYC process. Submitting incorrect or insufficient documents may result in your loan application being rejected. To avoid rejection, keep the following documents handy when applying for a two-wheeler loan.

Documents required for a bike loan application

1. Valid proof of identity

Valid proof of identity is one of the first things you need to produce during your two-wheeler loan application process. It is important to mention that only government-issued IDs that include a photo of you and your name are valid. You can submit any of the following documents as proof of photo ID.

a. Aadhaar card / e-Aadhaar letter
b. Passport
vs. Voter card issued by the Electoral Commission
D. PAN card
e. Driver’s license
F. Ration card
g. Birth certificate issued by the Registry of Births and Deaths or by a municipality
h. Transfer certificate/registration certificate
I. Photo ID card issued by your institution (valid only for students)

Valid proof of identity
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2. Two recent photographs

You will also need to submit two passport size photographs of yourself where you look like your current self. You may submit color photographs instead of black and white ones.

3. Valid proof of address

A document proving the legitimacy of your permanent and current address must be produced. If your permanent address is the same as your current address, only one acceptable proof is sufficient. Here are some documents that can be used as valid proof of address.

a. Aadhaar card / e-Aadhaar letter
b. Passport
vs. Voter card issued by the Electoral Commission
D. Driver’s license
e. Ration card
F. A certificate confirming your address issued by a government-registered educational institution. In addition, the certificate must contain your photo.
g. Utility bills such as water, telephone and electricity bills that are no more than three months old.
h. Vehicle registration certificate

These are some of the most common proofs of address provided by applicants. However, there are other documents that you can use if you do not have access to any of the documents mentioned above.

Valid proof of address

4. Bank statement for the last three months

Before approving your application for a two-wheeler, lenders will want to find out about your financial situation. Therefore, you must submit your bank statement for the last three months. It gives lenders a good estimate of what percentage of your gross income you end up spending. This will give them a rough idea of ​​your financial obligations. You can quickly get an e-statement from your bank’s app or website.

5. Proof of income

Proof of income is an essential parameter that lenders use to estimate your eligibility for a loan. The proof of income varies for employees and the self-employed.

Employee applicants must submit the following documents.

a. Letter of employment is a must.

You can submit one of three:
b. Monthly salary slips for the last three months (you can indicate the salary credit on the bank statement)
vs. Form 16 or 16A, which is a withholding tax certificate (TDS)
D. Most recent income tax return (ITR) document

Independent candidates must submit the following documents.

a. TDS certificate
b. ITR of the most recent fiscal year

Letter of employment

6. Company Details

For self-employed individuals who own a business, sufficient details of the business must be provided. This may include business registration certificates, PAN card and proof of business gross profit.


Submitting the documents correctly is essential to getting your two-wheeler loan approved. From proof of identity to proof of income, make sure you have all the documents ready before you apply. To get two-wheeler finance, you can go to Bajaj Markets. The loan application process involves minimal hassle and can be done entirely online. You can also choose a loan term you’re comfortable with and pay your monthly EMIs accordingly. Plus, you can benefit from low interest rates, which significantly reduce the EMI you have to pay each month.

Priscilla C. Carnegie