2 min read
15 Dec 2023

Owning the latest two-wheeler is a dream for many. If you have put a hold on this dream due to insufficient finances, a loan can help. A two-wheeler loan from Bajaj Finserv allows you to borrow credit of up to Rs. 21 lakh at the lowest interest rate. With Bajaj Finserv, getting a loan on a two-wheeler is a hassle-free task, and you can pay off the borrowed amount in affordable EMIs over a flexible tenure.

So, if you want to apply for a bike loan, we are here to offer a helping hand. Read this comprehensive guide to learn more about two-wheeler loans and the step-by-step application process.

Why should you go for a two-wheeler loan?

Before the application process, it is essential to know why getting a loan for purchasing a two-wheeler is an excellent choice.

  • It is affordable and secure - Since the government and RBI regulate the two-wheeler loans, it is a transparent and safe option for getting your hands on the latest bike. You can read the terms & conditions, charges, and fees before applying for the loan.
  • Less financial pressure - With a bike loan, you will have to pay instalments every month instead of spending your entire savings at once.
  • Flexible repayment period - You can select a repayment tenure between 12 months to 72 months to suit your financial capabilities.
  • Eligibility - Whether you are a salaried employee, self-employed professional, student, housewife, or pensioner, you can easily apply for a two-wheeler loan.
  • Improving credit score - Credit score determines your credibility as a borrower. When you repay your two-wheeler loan on time, you can improve your credit score for any future loans.

Planning for a two-wheeler loan

Decide principal amount

The principal amount is based on the bike model and your repayment capacity. Before offering a principal amount, the financial institution will consider your current monthly income and credit score. At Bajaj Finserv, we have not specified a minimum credit score limit; however, a high credit score may help you get a higher loan amount. While the institutions may offer additional benefits on higher amounts, selecting the amount according to your needs is always advisable. It would help if you have never overborrowed as it will influence your monthly expenditure during the repayment tenure.

Check your eligibility

Checking two wheeler loan eligibility is the next step when applying for a two-wheeler loan. The eligibility criteria are as follows:

  • Applicant’s profile - Any Indian who is a salaried employee, self-employed professional, student, homemaker, or pensioner is eligible for a two-wheeler loan.
  • Minimum age: 18 years
  • Maximum age: 65 years


After checking the eligibility, you will have to submit a few documents to initiate the process. These include KYC documents (Aadhar, PAN, voter’s ID, driving licence, passport) and a NACH Mandate/ form 60. The information on these documents helps the lenders verify your profile before processing the loan.

  • Calculate EMI - EMI is the amount that must be paid monthly to pay off the loan. Determining the EMI amount using the Bajaj Finserv loan EMI calculator can help you better understand how a bike loan might affect your monthly expenses. You can adjust the down payment amount and repayment tenure to get a monthly EMI that is more convenient for you.
  • Plan the repayment schedule - Planning a repayment schedule will help you keep track of your monthly expenses. It will allow you to pay the EMI on time while keeping other priorities in check.

How to apply for a two-wheeler loan online?

Once you have checked your eligibility and have the documents ready, you can apply for a two-wheeler loan online on the Bajaj Finserv website with just a few clicks. You can pause and resume anytime while filling out the form.

  • Click on ‘Apply Online’ to open the two-wheeler loan application form.
  • Fill in your basic details, including name, age, etc.
  • Enter your mobile number and the OTP.
  • After this, follow the given instructions to complete the form.
  • Finally, select the loan amount that you need.

Once this online form is filled out, representatives from Bajaj Finserv will contact you to guide you on the next steps.

How to apply for a two-wheeler loan offline?

Bajaj Finserv offers a hassle-free process for offline applications. To apply offline, you will have to follow these easy steps:

  • Connect to our representative through a call.
  • The customer care executive will guide you through the application process.
  • Complete filling out the application form.
  • Submit the required documents, including KYC documents, NACH Mandate/ form 60A, and a recent passport size photograph.

The executives will guide you through the entire process, ensuring a seamless experience.

Bajaj Finserv makes it convenient for everyone to get a loan on two-wheelers with an attractive interest rate depending on your profile and credit score. The loan comes with no hidden charges to make it more affordable. Existing Bajaj customers can get up to 100% on-road funding for a two-wheeler loan. Additionally, new Bajaj customers can up to 95% on-road funding when applying for a two-wheeler loan.

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