What Documents are Required for a Bajaj Credit Two-Wheeler Loan?

two wheeler loan

Two-wheelers are the most convenient mode of transportation for many individuals. Be it cruising through the busy streets of metropolitan cities or serene streets of developing areas, a two-wheeler helps everyone in commuting with ease. They are more economical and provide users with a less hectic driving experience. 

Bikes and scooters are available for various prices with basic to elite models. If you wish to own a two-wheeler, you can get a credit two-wheeler loan. Some formalities need to be fulfilled before financing a two-wheeler. One such formality is submitting the required documents. These are essential in confirming the identity and help in the quick KYC process for instant two-wheeler finance. Are you ready to ride on your dream bike with the help of the best two-wheeler loan in India? Submit the following documents and start a new journey on your dream bike.

Understanding a Two-Wheeler Loan

A two-wheeler loan is a financial product that allows people to purchase a motorcycle or scooter by borrowing money from a financial institution. The borrower pays back the loan in equated monthly instalments (EMIs) over a specific time at a specific interest rate. 

Two-wheeler loans are unsecured loans, and the loan amount and interest rate are based on factors like the borrower’s credit score, income, and model and category of the bike. Two-wheeler loans typically have low, fixed interest rates for a duration of upto 60 months.

Documents required for a two-wheeler loan

Bajaj credit auto requires minimal documents and offers a quick and easy application process. The documents required are as follows: 

Requirement for individuals

  • Aadhaar card
  • PAN card
  • Passports
  • Voter ID card
  • Job card issued by NREGA
  • Letter issued by the National Population Register

Requirements for salaried individuals (additional)

  • Employment or offer letter
  • Salary slips for the last two months
  • Bank statement for the past six months
  • Duly filled Form 16

Requirements for self-employed (additional)

  • ITR(Income Tax Returns) of the Last three years.
  • Last six months’ bank statements
  • Sales tax returns
  • TDS Certificate
  • Company details

Deemed to be official documents

  • Utility Bill*: Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water bill (Utility bills must not be older than 60 days)
  • Property or Municipal tax receipt
  • Pension or Family Pension Payment
  • Letter of Allotment of Accommodation from employer 

AOA must be issued by the state government, central government, statutory or regular bodies, public sector undertakings, scheduled commercial banks, financial institutions, listed companies, and leave and license companies.

Avail the best two-wheeler loan in India

You must understand that the two-wheeler loan documents required may vary from lender to lender. There are many steps involved in the two-wheeler loan application process. Many lenders offer a two-wheeler loan in India. The best practice is to do deep research before finalising the lender and getting your dream bike. Read all the terms and conditions mentioned before signing the agreement. You must also check your eligibility with the online eligibility calculator to ensure you are a good fit for applying for a loan with Bajaj credit auto

Digitisation has made the loan process easy as many financial institutions are adopting digital initiatives, offering numerous benefits to the borrowers and ease of application process. The online application process has minimal paperwork and documentation process, allowing a broad range of users to avail of a two-wheeler loan from various financial institutes. With adjustable loan amounts of up to 20 lakhs, users can benefit from great deals and can buy a 2-wheelers from themselves or gift one to their loved ones.

Must Read: 5 Key Factors to Consider Before Getting a BACL Two-Wheeler Loan

Before taking a two-wheeler loan, it is important to consider various factors involved, such as the interest rate, loan amount, repayment tenure, processing fees, and eligibility criteria. All you have to do is select the bike/scooter you prefer, get a personalised two-wheeler loan with Bajaj credit auto and enjoy various benefits that two-wheelers have to offer for many individuals.