Two-wheeler loan eligibility criteria
-
Nationality
Indian
-
Age
18 years to 65 years*
-
Customer profile
Salaried , Self-employed, Pensioner, Self-employed professional, Student, Homemakers.
-
Income criteria
No document required*
-
CIBIL score
No minimum requirement*
Parameters |
Self-employed |
Salaried employee |
Pensioners |
Minimum Age |
21 years If you are between18- 21 years, you require a co-applicant |
21 years If you are between18- 21 years, you require a co-applicant |
NA |
Maximum Age |
65 years for existing customers holding EMI Network Card 65 years for new applicants |
65 years for existing customers holding EMI Network Card 65 years for new applicants |
65 years for existing customers holding EMI Network Card
65 years for new applicants |
Two-wheeler loans eligibility criteria for salaried individuals
- The minimum age required for a salaried individual is 21 years. If you are applying with a co-applicant, the minimum age requirement is 18 years.
- The maximum age mandated for a salaried individual is 65 years.
Two-wheeler loans eligibility criteria for self-employed
- For salaried individuals, the minimum age mandated is 21 years, but applicants between 18- 21 years require a co-applicant.
- The maximum age mandated for both existing Bajaj Finserv EMI Network Card holders and new applicants is 65 years.
Documents required for the two-wheeler loan application
Before starting the application process, you must know about the required documents, ensuring hassle-free approval. The document list will help you fill out the loan application form easily.
- KYC documents: KYC documents required may include an Aadhaar card, passport, driving licence, PAN card, and voters’ ID card.
- NACH mandate/ Form 60 is one of the important documents required for a two-wheeler loan application.
- You need to provide a recent photograph along with the mentioned documents.
Frequently asked questions
The minimum age mandated for a two-wheeler loan is 21 years, whereas you have to be 18 years if you apply with a co-applicant. The maximum age mandated for existing Bajaj Finserv EMI Network Card holders, salaried employees, self-employed and pensioners is 65 years.
At Bajaj Finserv, we haven't specified a minimum credit score for sanctioning a two-wheeler loan. However, a lower credit score may lower the two-wheeler loan amount; hence we recommend maintaining a credit score of 720 or above.
The down payment for a two-wheeler loan depends on the cost of the bike, your repayment capacity, and your credit score.
Yes, you can foreclose your two-wheeler loan but only after paying one EMI instalment.
There will be a nominal processing fee, hypothecation charges and stamp duty cost.
