How to Get Best Two Wheeler Loan in Easy Steps?

Owning your vehicle can be a great feeling. However, vehicles do not come cheap, and a lot of the time, most households do not have sufficient cash on hand to pay for them. This is why banks and financial institutions are significant, they allow consumers to take a loan and pay the amount in installments.  Nowadays, two wheeler loans are the best option to buy a two-wheeler vehicle There are many financial institutions available who offer loans at affordable interest rates, you can select according to your requirements.

Getting a suitable Two Wheeler loan might seem like a difficult task, but if you follow the right procedure, then it can be a comfortable experience. Here are five simple steps to help simplify the process of getting a loan.

Few Steps Help to Simplify the Process of Getting a Loan:

  1. Decide what the budget for your bike is
  2. Keep all the necessary documents ready beforehand
  3. Determine how long your loan period will be
  4. Read all the documents related to your loan carefully
  5. Sign the deal and take the delivery of your vehicle

1. Decide what the budget for your bike is:

One important thing to realize is that even if you get a bank that gives us a great deal, spending beyond your means is never a good idea. Identify what you require your two-wheeler for and pick a bike that can satisfy those requirements. 

2. Keep all the necessary documents ready beforehand: 

When purchasing a bike through financing, there are a few documents that need to be kept ready beforehand. Documents play a vital role in the loan process. You will need to show that you have some source of income to be eligible for the loan. 

  • Proof of salary: If you are a salaried employee, then a copy of your latest salary slip or form 16 document will be sufficient. If you are self-employed, then an income tax returns filing will be necessary.
  • Proof of Age: The documents required to prove your age are your driver’s license, PAN card, Aadhar card, and Birth Certificate.
  • Bank Statement: Depending on the financing institution that you approach for the loan, you may or may not be asked to produce up to the last six months of your bank statements.
  • ID Proof(Salaried): Passport /Photo credit Card/Pan Card /Driver’s License /Voter’s ID/Aadhaar Card/ Identity card with applicant’s photograph issued by Central/ State Government Departments, PSU. 
  • ID Proof(SelfEmployed): Passport /Pan Card/Driver’s License/Voter’s ID/Aadhaar Card

3. Determine how long your loan period will be:

The most important thing is the Loan Term or period. Two-wheeler loans are typically taken for six months and up to a maximum tenure of 60 months. Based on your financing situation, you will have to decide how long you want to take the loan for.  Do not pick too short a repayment period because it will put you under a lot of stress to make the payment, also don’t pick too long a period because you will end up having to pay a lot of extra interest.

4. Read all the documents related to your loan carefully:

Understanding the terms and conditions of your loan is very important. If you need help calculating your monthly payments, you can use our bike loan EMI calculator to come up with a number. Simply select your Loan amount, Interest rates, and loan Tenure and get the results in form of payable EMI. Apart from this, it is essential to read about companies’ penalties and late payment fees as well. Having comprehensive knowledge about the late payment fees can help you save a lot of money on your bike loan in the long run.

5. Sign the deal and take the delivery of your vehicle:

Once your documents are signed there will be some due diligence done by the financing company with regards to your credit history as well as financial situation. If everything is fine, then your bank account will be credited with the loan amount.


Getting your two-wheeler with a bike loan can be a straightforward task. At first, it might seem very daunting, but once you follow our tips and instructions, the process will be very easy. Before you know it you will be taking delivery of your very own motorbike.

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