A 2-wheeler loan is a specific type of loan that is taken for purchasing a two-wheeled vehicle such as a scooter or a motorcycle. This loan has become increasingly popular as it provides convenience, flexibility, and financial support to the buyer.

To be eligible for a 2-wheeler loan, borrowers must meet certain eligibility criteria, which may vary from lender to lender. Some common eligibility criteria are age, income, credit score, and employment status.

Let us explore each of these eligibility criteria in detail.


To be eligible for a 2-wheeler loan, the borrower must be at least 18 years old. Some lenders may have a maximum age limit of 65 years, but this can vary depending on the lender’s policies.


To be eligible for a 2-wheeler loan, the borrower must have a steady source of income. Lenders usually require a minimum monthly income of Rs. 10,000 to Rs. 15,000. The borrower must provide proof of their income, such as salary slips or bank statements, to the lender.

Credit Score

A credit score is a numerical representation of an individual’s creditworthiness. It is an essential eligibility criterion for a 2-wheeler loan. The score ranges from 300 to 900, and most lenders require a credit score of at least 750 to approve a 2-wheeler loan.

To maintain a high credit score, borrowers should ensure timely repayment of all their previous loans and bills. They should also avoid defaulting on loans, as this can significantly affect their credit score.

Employment Status

The borrower must be employed with a stable job for a minimum duration of 6 to 12 months. Some lenders may require a longer tenure of 2 to 3 years, depending on their policies.

Self-employed individuals can also apply for 2-wheeler loans, but they must have a minimum income and show proof of their income. Lenders may require additional documents, such as income tax returns, to verify the borrower’s income.

Type of 2-Wheeler

To be eligible for a 2-wheeler loan, the borrower can choose any type of two-wheeled vehicle, such as a scooter or a motorcycle. Lenders typically provide loans for vehicles that are not older than 5-10 years, depending on their policies.

The borrower must ensure that the vehicle is registered in their name and that all relevant documents such as the insurance policy, registration certificate, pollution certificate, etc.

Loan Amount

The maximum loan amount one can get for a 2-wheeler loan varies based on the lender and their policies. Typically, lenders provide loan amounts up to 90% of the bike’s on-road value. However, some lenders may provide higher loan amounts depending on the 2-wheeler’s cost and the borrower’s income and credit profile.

Interest Rates

The interest rates for 2-wheeler loans are relatively lower than personal loans. They typically range from 9% to 15% and may vary depending on the lender. Borrowers must compare the interest rates offered by different lenders before applying for a loan. Factors like the borrower’s credit score and income may also influence the interest rate offered.

Types of 2-Wheelers One Can Purchase Through a 2-Wheeler Loan

One can purchase any type of two-wheeled vehicle using a 2-wheeler loan. However, different lenders may have different policies and customizations based on the type of vehicle purchased. Some of the most popular 2-wheelers bought using 2-wheeler loans include:


Scooters are a popular choice in India, with brands like Honda Activa, TVS Jupiter, and Suzuki Access being among the most popular ones. Lenders offer financing options for different scooter models ranging from conventional scooters to gearless ones.


Motorcycles are another popular 2-wheeler type purchased using 2-wheeler loans. Lenders offer financing options for different models and variants, ranging from standard bikes to sports versions.

Electric Vehicles

With the increase in awareness about the environment, electric vehicles are gaining popularity in India. Electric scooters and motorcycles are available in the market from brands like Ather Energy, Hero Electric, Okinawa, and others. However, the number of lenders providing loans for electric vehicles is still limited compared to those for conventional vehicles.

How Much Loan Amount Can One Avail Through a 2-Wheeler Loan?

The maximum loan amount that one can avail through a 2-wheeler loan differs from lender to lender. It depends on various factors, such as the type of vehicle, the borrower’s creditworthiness, income, and repayment capacity. In general, lenders offer loan amounts ranging from 70% to 90% of the 2-wheeler’s on-road price.

Lenders usually conduct a verification process to determine the borrower’s eligibility and offer the loan amount accordingly. The verification process may include document verification, credit scoring, and other eligibility criteria.

2-Wheeler Loan Apps

Bajaj Finserv App

Bajaj Finserv offers a 2-wheeler loan service connected to their mobile app. With the Bajaj Finserv App, borrowers can easily calculate the EMI, apply for a loan, and track the loan application status. It provides pre-approved offers for existing customers, which can make the process even more comfortable.

The Bajaj Finserv App allows customers to access other financial services like loans, investments, and insurance. The mobile app provides a user-friendly interface and is convenient to use, making it a popular choice among borrowers.

ICICI Bank App

ICICI Bank offers an efficient and secure mobile app for customers to avail of a 2-wheeler loan. With the ICICI Bank App, borrowers can check their eligibility, calculate their EMI, and apply for a loan. The mobile app also allows for loan tracking and account management.

ICICI Bank App offers other features like checking account statements, paying bills, and transferring funds. It provides a secure platform with improved security features like PIN, password, and fingerprint authentication.

HDFC Bank App

HDFC Bank offers a comprehensive mobile app that provides an easy-to-use interface for customers applying for a 2-wheeler loan. With the HDFC Bank App, borrowers can calculate the EMI and apply for the loan easily. The mobile app also provides features like loan tracking, credit card payments, and fund transfer.

HDFC Bank App offers the convenience of bill payments, investments, and mutual fund transactions. It provides an interface to monitor all bank accounts, making it a popular choice among customers.

Axis Bank App

Axis Bank offers an efficient mobile app to access 2-wheeler loan services. With the Axis Bank App, borrowers can apply for a 2-wheeler loan, calculate the EMI, and track the loan application status. The mobile app also features other banking services like net banking, fund transfer, and UPI payments.

Axis Bank App provides the convenience of generating virtual debit cards, adding beneficiaries, and opening fixed deposits. The mobile app is easy to use and has enhanced security features like fingerprint authentication and encryption.

IDFC First Bank App

IDFC First Bank app is a user-friendly and convenient mobile app for customers to avail 2-wheeler loan services. With the IDFC First Bank App, borrowers can calculate the EMI, apply for the loan, and track the loan application status. The mobile app also provides other banking services like bill payments, fund transfers, and UPI payments.

IDFC First Bank App provides added features like generating virtual debit cards, adding beneficiaries, and opening fixed deposits. The mobile app is secure and provides the convenience of managing all bank accounts in one place.


In conclusion, 2-wheeler loans provide a convenient and flexible option for financing the purchase of a two-wheeled vehicle. The eligibility criteria for a 2-wheeler loan include age, income, credit score, employment status, type of two-wheeler, loan amount, and interest rates. Prospective borrowers must ensure that they meet the eligibility criteria and choose the right lender that can provide them with the best deal on a 2-wheeler loan.

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