Have these documents in hand before applying for a two-wheeler loan! | India is blooming

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The growing demand for two-wheelers in the country has been met by an equally strong growth in bike loan finance options. While buying a dream bike may be high on the priority list, one cannot hope to circumvent already existing financial responsibilities with such a large one-time investment. This is where two-wheeled loans come in handy. With financing options up to 100%, they allow you to buy your dream bike and pay the same amount in EMI over a custom term without compromising your existing financial responsibilities. To ease the application process, lenders have implemented a minimum documentation policy, whereby you can avail a two-wheeled loan by submitting just a few basic documents. Let’s take a look at this list of basic documents required for a bike loan.

Identity proof

The lender must be able to verify your identity before sanctioning the desired loan amount. Submitting valid proof of identity allows this cross-checking process to go smoothly. Thus, to apply for a loan two wheels, you will need to provide a document certifying your identification information. Any government-issued photo ID proof such as your passport, voter card, Aadhaar card, PAN card or driving license is considered valid proof of ID. You will need to submit photocopies or scanned images of these documents, so remember to keep a few copies handy when applying for a bike loan. Proof of identity is one of the most critical documents required for a bike loan as it also validates the age of the applicant. This is essential when it comes to meeting the eligibility criteria for the loan.

Proof of address

The bike loan application form will provide information about your current and permanent residential address. You will need to present a document validating this information. Documents such as your driver’s license, voter’s card, passport and Aadhaar card can serve as both proof of identity and residence. You can also submit recent utility bills, such as your monthly electricity, gas or water bills as valid proofs of residency.

Passport size photos

Along with documents proving your name, address, date of birth, age, and other crucial information, you will also need to submit copies of your most recent passport photos. Although most lenders require that you attach at least two copies of these photographs to the loan application form, the actual number of copies you will need to submit when submitting the form may vary from lender to lender. So, remember to read the list of documentation carefully before submitting your bike loan application file.

Whether you are an employee or self-employed, you will need to provide the aforementioned list of documents when applying for a two-wheeler loan. However, this list of documentation branches off when we reach the area of ​​income. In other words, the proof of income you will need to show for a bike loan will depend on the type of work you do. Let’s take a look at the proof of income that employees and the self-employed need.

Proof of income documents for salaried persons

If you happen to be a salaried person employed in a government company, private company or multinational corporation, you will need to provide copies of your last three payslips, Form 16 and bank statements. Some lenders also accept signed salary certificates which are issued by the applicant’s employer and clearly outline the individual’s monthly income.

Proof of income documents for self employed

Self-employed individuals must submit their tax return as proof of income. Recent bank statements should also be included in this list of documents required for a bike loan.

Proofs of income are listed as essential documents in all two-wheeler loan applications, as the lender must assess the applicant’s financial situation before sanctioning the loan. Your bank statements or monthly payslips guarantee a stable source of income, assuring the lender that you will repay the loan on time.


Getting a sanctioned two-wheeler loan is a hassle-free process if you meet the eligibility criteria and have the above mentioned documents handy. Remember that you must submit photocopies of these documents and provide the originals at the time of verification. To ensure that the application process goes smoothly, it is always wise to carefully read the specific list of documents required by your lender for the bike loan. That said, lenders such as Bajaj Finserv offer two-wheeled loans with minimal documentation requirements. The application process is simple and convenient, with instant approvals and quick loan disbursements. Moreover, by opting for the Bajaj Finserv two-wheeler loan, you can obtain up to 100% financing of the on-road price of the two-wheeler, as well as competitive interest rates.