How to Qualify for a Two-Wheeler Loan?

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The pandemic has highlighted the importance of having a personal means of transport to work or elsewhere. Travelling by public transportation was risky, if at all possible. However, most of us cannot afford to purchase a car. So why not go for a two-wheeler? It is not only safe and inexpensive, but it is also easy to manoeuvre in traffic. Furthermore, it provides you with the freedom to travel at your leisure that you have always desired. 

Obtaining a two-wheeler loan is never this simple. Both salaried and self-employed people can apply for the loan. All you have to do is check your eligibility, submit the documents and get the funds instantly to buy yourself your own bike/scooty. 

How to Check Two-Wheeler Loan Eligibility?

It is critical to check your eligibility before applying for a loan. You can check your eligibility online or visit the bank branch. Although the conditions differ among lenders, the essential requirements are listed here.

Nationality Indian
Age Above 21 years
Income Stable Income


As the eligibility conditions are extremely straightforward, most applicants will be able to obtain a loan for a bike. However, those who do not qualify should follow the tips listed below to ensure a successful loan approval. 

How To Improve Your Two-Wheeler Loan Eligibility?

Here are a few essential suggestions to improve your loan eligibility.

  • Opt For Pre-approved Two-Wheeler Loans

Pre-approved two-wheeler loans are available to eligible bank customers. If you are an existing bank customer, you may be able to obtain a pre-approved loan quickly. Banks are quick to lend to loyal customers with a good credit history, so it is ideal to approach your bank with whom you have a relationship.

  • Make A High Down Payment

Banks are more likely to grant a two-wheeler loan for an applicant who provides a higher down payment. So, if you can come up with a more significant sum to buy a bike, chances are you can easily qualify for a loan. 

  • Maintain a Good Credit Score

Keeping a strong credit score makes it easier to qualify for a bike loan. It is critical to pay all your bills on time and avoid taking on too much debt. This improves your chances of loan approval. 

  • Keep Debt-to-Income Ratio Low

A low debt-to-income ratio indicates that your EMI payment is less than 50% of your income. The ratio is used to determine a borrower’s ability to repay a loan. As a result, it plays a vital role in increasing your loan eligibility. You must demonstrate to your lender that you will comfortably pay your EMI by keeping it low concerning your income.

  • Select the Right Tenure

Choose long-term tenure if you are uneasy paying hefty EMIs. This will result in higher interest payments, but lenders may be more willing to approve your loan. Otherwise, a short-term loan is ideal if you can afford to pay a significant EMI. Choose cautiously. 

  • Get a Co-applicant

If you are unsure about your eligibility, it is preferable to enlist the help of a co-applicant, preferably a working member of your family with a good credit score. A joint loan application has a better probability of being approved.

  • Get a Used Two-Wheeler

If your prospects of acquiring a new two-wheeler loan are slim, you can opt for a used vehicle. The money required to purchase a used scooter is less, which increases your chances of getting a loan accepted. However, before buying a used bike, check with the lender about financing.

Many financial institutions provide loans for bikes to eligible candidates. However, if you are unsure about your eligibility, the guidelines listed above can help you enhance your chances of securing a loan.

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