Two-wheeler loan eligibility criteria

  • Nationality

    Nationality

    Indian

  • Age

    Age

    18 years to 65 years*

  • Customer profile

    Customer profile

    Salaried individuals, Self-employed individuals, Pensioners, Students, Homemakers

  • Documents required

    Documents required

    (1) 3-month bank statements. For salaried customers, banking should reflect Salary credits.
    (2) Latest month salary slips for SAL & ITR as per norms mentioned in policy.
    (3) Residence and Employment Stability proof / Business Proof

  • CIBIL score

    CIBIL score

    No minimum requirement*

Parameters

Self-employed

Salaried employee

Pensioners

Minimum Age

18 years

If you are between 18- 21 years, you require a co-applicant

18 years

If you are between 18- 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 60 years.

Two-wheeler loans eligibility criteria for self-employed

  • For self-employed 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.
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Frequently asked questions

What is the minimum and maximum age for a two-wheeler loan?

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.

What is the minimum credit score required for a two-wheeler loan?

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.

How is the down payment calculated for a two-wheeler loan?

The down payment for a two-wheeler loan depends on the cost of the bike, your repayment capacity, and your credit score.

Can I foreclose my two-wheeler loan?

Yes, you can foreclose your two-wheeler loan but only after paying one EMI instalment.

Will I have to pay any additional charges for the two-wheeler loan application?

There will be processing fees up to 12.95% of the loan amount (inclusive of applicable taxes), documentation and hypothecation charges up to Rs. 2500 (inclusive of applicable taxes collected upfront and stamp duty cost payable as per state laws.

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