What is the Process of Getting a Two Wheeler Loan Online?

With the ever-increasing traffic in the cities, two-wheelers are becoming the only way to commute without wasting hours on the road. In modern India, bikes have become an essential commodity. But a significant portion of the Indian public still can’t afford to buy a bike with their savings. With a two-wheeler loan, however, anyone with a regular salary can buy a brand new bike!

This guide will explain the simple steps you need to follow to get that two-wheeler loan online.

Benefits of a Two-Wheeler Loan

Before you start applying for a two-wheeler loan, you should get a better idea of the benefits it offers. A two-wheeler loan is a loan that helps you purchase a bike or a scooter. If you apply for this loan, you only have to pay a small percentage of the price upfront. The bank will loan you the rest. The benefits of this loan are:

  • It relieves the financial strain on your savings, which you would have otherwise spent on buying the bike.
  • Due to a competitive market and a high demand, the bike loan interest rates are low.
  • Most banks let you loan an amount that is higher than the price of the bike. This makes buying the extra accessories and paying the on-road price a lot easier.
  • Gives you the freedom of choice to buy high-end bikes that you might not have been able to afford otherwise.
  • Most banks offer a flexible repayment schedule that helps you plan the EMI better.
  • You can apply for this loan online and get it approved with only a few clicks.


Every lender has its own eligibility criteria, so make sure you meet their demands before applying for a loan. A few common factors for eligibility are:

  • Income levels
  • Age group
  • Credit score
  • A permanent residence
  • Relevant documents.


If you don’t have your heart set on a particular bike, it is a good idea to compare the costs of different models. The down payment amount will vary according to the lender’s policies. Some banks offer 100% financing with a zero down payment, while others may offer 85% of the total cost. Be sure to check the plans thoroughly while comparing different loans.

Compare the interest rates offered to you by the different lenders. The interest rate depends on your level of income, bike model, credit score, etc. So be sure to enter the same data when you are comparing different quotes to get a comprehensive idea.

Calculate Your EMI

EMI is the monthly installment through which you repay the lender. Calculating the EMI before you apply for the loan will better help you manage your money. Most banks have online bike EMI calculators that make it very easy to plan out your EMI outflow.


Once you are sure of the plan you want to avail, all you have to do is apply for it online. Just visit the website of the bank or download its app on your android phone. Fill out the form with your details and scan the documents it asks for. You usually need address proof, a photo ID, and an income certificate to apply for a Two wheeler loan. You will need to scan the documents and send them over. If everything is in order, the loan should get approved within a few minutes, and the bank will credit the money to your account.

Applying for a two-wheeler loan online is a hassle-free process. It takes very little time and is an easy way to get the money for your dream bike. Just remember to take some time and compare the different lenders to find the best offer that suits you.

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