Can Students in India Apply for Two-Wheeler Loans?

Two-wheelers are extremely popular among India's student population. However, the majority of these children do not have enough money to make a purchase. To make their purchase more reasonable, many NBFCs now provide a specialised two-wheeler loan.

Furthermore, certain lending institutions provide these loans at extremely low two-wheeler loan interest rates.

If you want to buy a two-wheeler to get to college on the cheap, here are some of the key aspects of student bike loans:

    1. Document verification might take up to three days on average.

    2. On average, student applicants' loan terms will be limited to three years.

    3. There are no limits on the sort of two-wheeler that a student can purchase with the loan. The loan may finance any item, from modern superbikes to electric mopeds.

    4. The majority of student two-wheeler loans are unsecured credit. As a result, there is no need for collateral or security.

However, one requirement for applying for this loan is that students offer a co-applicant/guarantor with good credit and work stability. Only then will they be able to easily obtain this loan.

So, what is the best course of action? Use a free bike EMI calculator online to establish the loan conditions that are most appropriate for your financial obligations and then choose a lender appropriately. But first, make sure you satisfy the requirements listed below.


    1. This loan is only available to students.

    2. The applicant must be at least 18 years old.

    3. At the time of application, the student must have a permanent address.

    To qualify for the loan, students and their co-borrowers must meet the following requirements:

    1. They should have outstanding credit ratings, preferably 700 or above. This also assists the applicant in obtaining a cheaper two-wheeler loan interest rate.

    2. The co-borrower must provide supporting documentation for their income stability.


    1. Documents required for KYC (passport, Aadhaar card, voter ID, driver's licence, etc.)

    2. Address verification (Bank passbook, Passport, Utility bills, etc.)

    If the co-borrower works for himself or herself -

    1. Income Tax Returns over the previous two years

    2. Bank statements from the previous year

    3. Business validation

    If the co-borrower is an employee -

    1. Pay stubs from the previous six months

    2. Bank statements over the last six months

How do you apply?

To apply for a bike loan, simply follow three simple steps. But, before you apply, make sure you've decided on a brand and model and a dealer.

    Step I: While you're at the showroom, your selected lender will check your two-wheeler loan eligibility online.

    Step II: If you are found to be qualified for the loan, you must complete an application form and provide the lender with the relevant documentation.

    Step III: Following successful document verification and loan approval, the loan amount will be sanctioned straight to your dealer, and you will be able to take the vehicle home.

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