What are the eligibility criteria for a two-wheeler loan?

Here are the eligibility criteria for a two-wheeler loan from Tata Capital: Age: Salaried individuals must be 21 to 60 years old at loan maturity, while self-employed individuals must be between 21 and 65 years old at loan maturity. Residential stability: Minimum one year of residence at the current address required. Work experience: At least one year of continuous employment or business stability is needed. Income proof: Salaried applicants need salary slips/bank statements, while self-employed applicants must provide bank statements or income tax returns. Credit score: A healthy credit score (preferably 750 or above) improves approval chances.

How can I get a two-wheeler loan without income proof?

You can get a two-wheeler loan without income proof by applying with a co-applicant. The co-applicant’s income and profile will be considered, improving your chances of loan approval. The co-applicant must meet the same eligibility requirements as the primary applicant, such as: Age between 21–60 years (salaried) or 21–65 years (self-employed) at loan maturity Minimum one year of residential stability At least one year of continuous work or business experience A good credit score for better approval chances

What documents are required to apply for a two-wheeler loan?

To apply for a two-wheeler loan, you need to submit the following documents based on your profile: Completed application form with recent passport-sized photographs KYC documents, such as identity proof (PAN card, Aadhaar, Passport, or Voter ID), address proof (utility bills, Aadhaar, Passport, etc.), and age proof (PAN, Birth Certificate, etc.) Signature verification (PAN card copy or bank verification) Income proof, like the latest salary slips/Form 16 for salaried professionals, and last year’s ITR for self-employed individuals (as applicable) Bank statements for the last 3 to 6 months Employment stability proof for salaried applicants and business ownership or stability proof for self-employed applicants

What is the process to apply for a two-wheeler loan?

To apply for a two-wheeler loan, all you need to do is follow these steps: 1. Visit the official website of your preferred lender and navigate to the 'Two-Wheeler Loan' section. 2. Check your eligibility and click on 'Apply Now.' 3. Fill out the online application form. 4. Upload the required documents for the bike loan and click on 'Submit.'

How can I buy a two-wheeler without a down payment?

You can buy a two-wheeler without a down payment as Tata Capital offers up to 100% financing, subject to conditions. To avail this, follow these steps: 1. Check if a loan within this limit is enough to cover the bike you want. 2. Apply online or offline through Tata Capital’s loan application process. 3. Submit the required documents for verification. 4. Wait for approval, which depends on meeting income, credit score, and stability requirements.

What are the interest rates and charges offered by Tata Capital?

Tata Capital offers competitive interest rates and transparent charges on two-wheeler loans. The interest rate starts at 12.5% per annum. Please check the official website for any special offers that may be available. Apart from that, below are the key charges you should know: 1. Processing fees: Up to 4% of the loan amount (non-refundable) 2. Documentation charges: Up to Rs. 1,999 3. PDD charges: Rs. 500 for post-disbursal document management 4. Foreclosure charges: 5% of principal outstanding + GST 5. Repossession charges: Rs. 8,000 6. Statement of accounts: Nil via portal; Rs. 250 at the branch 7. Foreclosure report: Nil via portal; Rs. 250 at the branch 8. Duplicate NOC: Rs. 300 9. Stamp duty: Rs. 0 for loans ≤ Rs. 85,000; at actuals above Rs. 85,000 10. RC hypothecation delay: Rs. 1,000 per month after 120 days of disbursement 11. Loan cancellation: 2% of the loan amount or Rs. 5,750 (whichever is higher) 12. Part-pre-payment: 5% of prepaid amount 13. Penal charges: 3% per month on overdue EMIs (36% annualized) 14. Cheque bounce: Rs. 600 per instrument 15. Mandate rejection: Rs. 450 per instance

Can I prepay or foreclose the two-wheeler loan?

Yes, Tata Capital gives you the option to prepay or foreclose your two-wheeler loan before the tenure ends. You are allowed to make both part-pre-payments and full foreclosures. A fee of 5% of the outstanding or part-prepaid amount plus GST is charged. The request is subject to standard approval and documentation by Tata Capital. Prepaying can lower your overall interest cost, but it may also affect your short-term liquidity.

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Documents Required for Two Wheeler Loan

Explore the easiest, fastest, and most affordable way to make your dream two-wheeler yours

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Documents Required for Two Wheeler Loan for Individual

Avail of a two-wheeler loan from Tata Capital with minimal documentation requirements. Enjoy quick loan approvals and disbursals with just your identity and address proof documents. These include your passport, driving license, Aadhar card, PAN card, voter's ID, electricity bill, or passport. Bring home your dream bike today without any financial strain.

You must submit the required documents to prove your two wheeler loan eligibility. Here is the bike loan documents list-

Identity Proof documents – Passport/Driving License/Aadhaar Card/Voter’s ID and recent passport-sized photographs
Documents for Address Proof –Aadhar Card, Passport, Voter’s ID.

You must produce these documents to avail of a loan. Here is the bike loan documents list-

ID Proof – Passport /Driver's License /Voter's ID/Aadhar Card Along with recent passport size photograph.

Documents for Address Proof –Aadhar Card, Passport, Voter’s ID.

Keep these loan on bike documents ready in advance for a hassle-free process.

List of Documents Required for Bike Finance

Wondering what documents are required for a two-wheeler loan? Check out this complete list:

Documents	Salaried	Self-employed
Application form	Yes	Yes
KYC
Photographs	Yes	Yes
Identity proof	Yes	Yes
Address proof	Yes	Yes
Age proof	Yes	Yes
Signature verification	Yes	Yes
Income proof
Latest salary slip/Form 16	Subject to conditions	Subject to conditions
Income tax returns (ITR) for the last year	Subject to conditions	Subject to conditions
Other documentation
Bank statements	Yes	Yes
Business stability/ownership proof	No	Yes
Employment stability proof	Yes	No

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Eligibility criteria for a bike loan

Every lender in the market has different eligibility criteria to qualify applicants, and two-wheeler loans are no different. However, another good thing about a two-wheeler loan with Tata Capital is its easy-to-meet eligibility criteria. Tata Capital especially has very minimal criteria for the borrowers, so it's easier for them to avail of a loan. These are the following eligibility criteria for different entities:

You must be between 21 to 60 years old at loan maturity.

Have at least one year of residential stability

Have at least a minimum of one year of work experience

You must be between 21 to 65 years old at loan maturity.

Have at least one year of residential stability

Have at least a minimum of one year of work experience

What is the process for approving loans?

After you first submit the application form to the lender, there's a lot that goes behind the scenes. The process varies from lender to lender, but overall, they generally engage in the following steps:

Checking your loan application

The first step in approving your loans starts with checking your loan application. Here, the lender will check for all the information you've entered or written and cross-check specific details. This can include your name, address, loan amounts, etc. Once they see everything is in order, they move on to the next step, which is collecting or reviewing your documents.

Document review

Here, lenders will once again check to see if the documents you've submitted from the bike loan documents list are in line with the loan application. Since with two-wheeler loans, there is only your ID proof and your address proof, there's not much information that the lender will check. From here, your two-wheeler loan documents and your loan application will be sent to the verification department.

Document verification process

The verification team is in charge of confirming if all the information you've submitted is true and correct. For example, they may check the residence proof you've provided by making an in-person visit. Once the verification team confirms that all the information is true, the team will prepare to sanction the loan.

It is also important to know that during the verification process, if the team finds out the information provided is incorrect, your application may get rejected.

Loan approval

You can check if everything is as per your requirements before confirming the loan to be processed. From here, the process is very fast, and you will receive your loan in a couple of hours or days.

But, even before you think about your loan being processed, there's yet another fundamental factor to consider: the eligibility criteria.

Get a Quick Two-Wheeler Loan From Tata Capital

Now that you know that the bike loan required documents required for scooty are straightforward, you can easily apply for the same. Tata Capital has some of the best interest rates, loan tenures and other benefits to make your experience of buying a two-wheeler extraordinary. Simply reach out to us through our website or download the loan app, or you can make a visit in person to get started on your two-wheeler loan application.

FAQs on Documents Required for Two Wheeler Loan

A two-wheeler loan is a type of financing that helps you purchase a bike or scooter without paying the entire cost upfront. Instead, the lender covers most of the amount, and you repay it in Easy Monthly Installments (EMIs) along with interest. This makes owning a two-wheeler more affordable and convenient.

Here are the eligibility criteria for a two-wheeler loan from Tata Capital:

Age: Salaried individuals must be 21 to 60 years old at loan maturity, while self-employed individuals must be between 21 and 65 years old at loan maturity.
Residential stability: Minimum one year of residence at the current address required.
Work experience: At least one year of continuous employment or business stability is needed.
Income proof: Salaried applicants need salary slips/bank statements, while self-employed applicants must provide bank statements or income tax returns.
Credit score: A healthy credit score (preferably 750 or above) improves approval chances.

You can get a two-wheeler loan without income proof by applying with a co-applicant. The co-applicant’s income and profile will be considered, improving your chances of loan approval. The co-applicant must meet the same eligibility requirements as the primary applicant, such as:

Age between 21–60 years (salaried) or 21–65 years (self-employed) at loan maturity
Minimum one year of residential stability
At least one year of continuous work or business experience
A good credit score for better approval chances

To apply for a two-wheeler loan, you need to submit the following documents based on your profile:

Completed application form with recent passport-sized photographs
KYC documents, such as identity proof (PAN card, Aadhaar, Passport, or Voter ID), address proof (utility bills, Aadhaar, Passport, etc.), and age proof (PAN, Birth Certificate, etc.)
Signature verification (PAN card copy or bank verification)
Income proof, like the latest salary slips/Form 16 for salaried professionals, and last year’s ITR for self-employed individuals (as applicable)
Bank statements for the last 3 to 6 months
Employment stability proof for salaried applicants and business ownership or stability proof for self-employed applicants

To apply for a two-wheeler loan, all you need to do is follow these steps:

1. Visit the official website of your preferred lender and navigate to the 'Two-Wheeler Loan' section.
2. Check your eligibility and click on 'Apply Now.'
3. Fill out the online application form.
4. Upload the required documents for the bike loan and click on 'Submit.'

The turnaround time for a two-wheeler loan application is usually quick and hassle-free.

Online applications are typically processed within 24-48 hours.
On the other hand, offline applications may take a little longer depending on branch procedures.

Note: Delays can occur if you don’t meet the eligibility criteria or if your documents are incomplete.

Your credit report contains details of your past borrowings and repayments. It reflects who you are as a borrower. Based on the credit report, you receive a score called the CIBIL or credit score on a scale from 300 to 900. A low CIBIL score portrays you as a high-risk borrower in the eyes of a lender and vice versa. Lenders prefer that your credit score for bike loan eligibility be at least 750 or above for loan sanctioning. If you have a very low CIBIL score, lenders may altogether reject your two-wheeler loan application even if you have all the required documents for bike finance.

You can buy a two-wheeler without a down payment as Tata Capital offers up to 100% financing, subject to conditions. To avail this, follow these steps:

1. Check if a loan within this limit is enough to cover the bike you want.
2. Apply online or offline through Tata Capital’s loan application process.
3. Submit the required documents for verification.
4. Wait for approval, which depends on meeting income, credit score, and stability requirements.

Tata Capital offers competitive interest rates and transparent charges on two-wheeler loans. The interest rate starts at 12.5% per annum. Please check the official website for any special offers that may be available.

Apart from that, below are the key charges you should know:

1. Processing fees: Up to 4% of the loan amount (non-refundable)
2. Documentation charges: Up to Rs. 1,999
3. PDD charges: Rs. 500 for post-disbursal document management
4. Foreclosure charges: 5% of principal outstanding + GST
5. Repossession charges: Rs. 8,000
6. Statement of accounts: Nil via portal; Rs. 250 at the branch
7. Foreclosure report: Nil via portal; Rs. 250 at the branch
8. Duplicate NOC: Rs. 300
9. Stamp duty: Rs. 0 for loans ≤ Rs. 85,000; at actuals above Rs. 85,000
10. RC hypothecation delay: Rs. 1,000 per month after 120 days of disbursement
11. Loan cancellation: 2% of the loan amount or Rs. 5,750 (whichever is higher)
12. Part-pre-payment: 5% of prepaid amount
13. Penal charges: 3% per month on overdue EMIs (36% annualized)
14. Cheque bounce: Rs. 600 per instrument
15. Mandate rejection: Rs. 450 per instance

Tata Capital offers two-wheeler loans of up to Rs. 5 lakhs, making it easier to purchase the bike or scooter of your choice without financial strain. The exact loan amount you are eligible for depends on factors such as your income, credit score, and repayment capacity, subject to Tata Capital’s approval policies.

Yes, Tata Capital gives you the option to prepay or foreclose your two-wheeler loan before the tenure ends.

You are allowed to make both part-pre-payments and full foreclosures.
A fee of 5% of the outstanding or part-prepaid amount plus GST is charged.
The request is subject to standard approval and documentation by Tata Capital.
Prepaying can lower your overall interest cost, but it may also affect your short-term liquidity.