Best Scooters Under ₹ 1 Lakh In India - Easy Two-Wheeler Financing
March 10, 2025 | 4 mins read
A two-wheeler is more than just a mode of transport in India—it’s a daily necessity. With Bike Loans available from almost every bank and NBFC, owning one is easier than ever. But before you go ahead with the application, understanding the eligibility criteria for a Bike Loan is crucial. From age and income to credit scores and employment type, each factor plays a role in your approval chances.
Knowing if you’re eligible before applying saves time, reduces rejection chances, and helps you pick the right lender. It also allows you to prepare documents in advance and, if needed, take steps to boost your approval odds.
Whether you're a student, salaried professional, or self-employed, getting clarity on the lender’s requirements increases your chances of a smooth loan journey.
If you apply with L&T Finance , Bike Loans come with the following features:
These loans are unsecured, meaning you don’t need to mortgage property or assets. Instead, the bike itself often acts as the security.
The eligibility criteria for a Two Wheeler Loan with L&T Finance is as follows:
The applicant must be an Indian citizen.
The minimum age for Bike Loan is 21 years to 65 years.
Both salaried and self-employed individuals can apply for a Two Wheeler Loan.
Compare offers from different lenders. Even a 1–2% difference can significantly impact total repayment over the loan term.
Choose based on your monthly repayment capacity.
Always read the fine print before signing the loan agreement.
Most banks and NBFCs offer a Bike Loan eligibility calculator on their websites. Here's how to use it:
This gives you an estimate before applying formally.
Several elements determine whether your application will be approved:
Understanding the eligibility criteria for a Bike Loan is the first step to owning your two-wheeler without stress. Knowing the Bike Loan age limit, required documents, and factors like credit score helps you prepare better and avoid unnecessary rejection.
Take your time to assess your financial situation, compare lenders, and use online calculators to estimate your eligibility. That way, you not only improve your chances of approval but also get a deal that fits your needs.
Most lenders require you to be between 18–65 years old, on when the loan term ends.
Yes. Typically, lenders expect a minimum income of ₹ 10,000–₹ 15,000 per month.
While not fixed, a CIBIL score of 700 or more is generally preferred for easy approvals.
Yes, but the interest rate may be higher, and the loan amount might be restricted.
Some lenders may still approve your loan if you have strong income proof or a co-applicant.
ID proof, address proof, income proof (salary slips/ITR), and bank statements.
If your documents are in order, you can get quick approval.