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Documents Required for Two Wheeler Loan

Documents Required for Two Wheeler Loan

You must submit the required documents to prove your 2-wheeler loan eligibility. Here is the bike loan documents list-

    • Identity Proof documents – Passport/Driving License/PAN Card/Aadhaar Card/Voter’s ID and recent passport-sized photographs
    • Documents for Address Proof – Electricity bill / Passport  

    Documents Required for Two Wheeler Loan

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

    • ID Proof – Passport /Pan Card /Driver's License /Voter's ID/Aadhar Card Along with recent passport size photographs

     

    • Address Proof  Electricity Bill/ Passport

     

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

Documents Required for Bike Loan

Every loan product carried different documentation requirements. This might change depending on the factors such as the loan category, purpose, etc. The process of availing a bike loan with Tata Capital also involves specific but minimal paperwork requirements. This makes it easy for anyone to avail of a bike loan. At Tata Capital, we only have the following bike finance documents required for a two-wheeler loan.

  • ID proof, which includes an Aadhaar card, passport, voter ID, etc.
  • Address proof, which includes your electricity bill, gas bill, etc.


This is the only documentation you need to secure a two-wheeler loan with us. In many cases, a salaried professional might have different documentation compared to a self-employed individual. But Tata Capital only has these basic documents so everyone can avail of a bike loan easily. 

So why do lenders have such extensive documentation requirements for different entities? Keep reading to know more. 

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What is the Interest Rate for Two Wheeler Loan?

Two wheeler loan interest rate is the rate at which you'll have to pay interest on a standard or super bike loan amount over a specified tenure. Bike loan interest rate is usually expressed as a percentage.

How to Calculate EMI Using Bike Loan Calculator?

Bike EMI calculator is a quick, easy, and safe way to calculate your potential EMIs accurately. To use the calculator, all you need to do is enter the Principal amount, Rate of Interest, and Loan tenure and the calculator will automatically show results within seconds.

To view the Specific Agreement, please click on the link below.

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 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.

Eligibility criteria:

Eligibility criteria:

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:

  • Have at least one year of residential stability 

  • Have at least a minimum of one year of work experience

Eligibility criteria:

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:

  • Your age must be between 21 to 60 while applying for the loan 

  • Have at least one year of residential stability

  • Have at least a minimum of one year of work experience

Get a Quick Two-Wheeler Loan From Tata Capital

Now that you know that the 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 you can make a visit in person to get started on your two-wheeler loan application.