🔑 Key Features of a Two-Wheeler Loan
| Feature | Details |
|---|---|
| Purpose | To finance the purchase of a new or used two-wheeler |
| Loan Amount | ₹10,000 to ₹10 lakhs (depending on vehicle and lender) |
| Loan Coverage | Up to 100% of the on-road price (some lenders offer 85%–95%) |
| Tenure | 12 to 60 months (1 to 5 years) |
| Interest Rate | ~8.5% to 27% p.a. (based on credit profile and lender) |
| Collateral | The two-wheeler (hypothecated to the lender until loan is repaid) |
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✅ Eligibility Criteria
| Criteria | Requirement |
|---|---|
| Age | 18 to 65 years |
| Income | ₹10,000 to ₹15,000/month (varies by lender & location) |
| Employment | Salaried, self-employed, or business owner |
| Credit Score | Not always required, but 650+ preferred |
| Loan History | Good repayment history improves chances of approval |
Apply Loan
📋 Documents Required
KYC Proof – PAN, Aadhaar, Voter ID
Address Proof – Utility bill, Aadhaar, Passport
Income Proof – Salary slips, bank statements, ITR
Photographs – Passport-sized
Proforma Invoice – From bike/scooter dealer