What is the Bike Loan Procedure in India? Know All Details Here

Procedure

Here are the simple steps that you need to follow to get your favourite Bajaj bike out of the showroom and into the streets.

~ Fill your personal and bike details here.

~Calculate your eligibility by using our two wheeler loan EMI calculator.

~Submit required documents.

~Proceed to loan approval.

~Generate your loan approval letter.

~Walk into your preferred Bajaj showroom.

~Walk out with your favourite bike.

Eligibility Criteria

Getting a bike loan is very quick and easy if you fulfil the eligibility criteria.

~Individual must be not below 21 years when applying for the loan.

~Individual must be less than or equal to 65 years at the end of the loan tenure.

~Borrower must be residing in the current city for a minimum duration of one year.

~Borrower must have been employed for a minimum duration of one year.

~Borrower must have a landline number, either at their residence of place of work.

Documents Required

Keep all the necessary documents ready when you apply for a bike loan.

Proof of Identity

Passport/Photo Credit Card (front & back)/Voter ID Card/Driving License/PAN Card/Company issued ID Card of a Govt. company, PSU, Public Ltd. or MNC/Aadhar Card.

Address Proof

Passport/Driving License/Voter ID Card/Telephone Bill/Electricity Bill/Gas Connection Bill/Rental Agreement/Ration Card/Property Purchase Agreement/Sale Deed/Latest Credit Card Billing Statement/LIC Policy/Address Proof in the name of the applicant's parents or spouse /Letter provided by the company or company provided accommodation.

Proof of Income

Latest salary slip (for Govt. employees). In case the salary slip can't be produced, a salary certificate will be accepted. Customers will be required to provide any other relevant documents depending on their profile and the loan category they fall in.

Interest Rate

The interest rates are based on the following parameters.

* Borrower’s profile.

* Geography of residence.

* Loan amount.

* Bajaj Auto product for which finance is sought.

The benefits of taking a two wheeler loan are seemingly never ending. A bike loan is an investment and a bike, the greatest asset. Take in consideration the money and time you will save by commuting to work on your bike. The temptation of not travelling in crammed public transportation services and a renewed sense of liberty is too strong to ignore. You can take a two wheeler loan with a flexible tenure from Bajaj Auto finance without having to make any down payment. Now, isn’t that a win-win situation? If you have any loan enquiries, fill in your details here and Bajaj Auto Finance will get back to you at the earliest. What is the holdup for? Apply for a loan and get your dream bike hassle free!