What are the documents required for a Two Wheeler Loan?

When you have zeroed in on the dream bike you have always wanted, or the utility scooter to move around in, the obvious next step is to look at financing.

Banks like HDFC Bank offer Two Wheeler Loans with flexible tenures, easy repayment options and affordable interest rates. If these reasons are not good enough, here’s one more. For those eligible, a bank like the HDFC Bank provides 100% financing, which means you do not make any down payments. Also, if you are an account holder, the interest rates are even cheaper.

You can check your eligibility in under five minutes online.

Your eligibility for the Two Wheeler Loans depends on various factors like annual income, residential status, work status among other factors. If you are eligible for a loan, the next step is to get your documents in order.

What are the documents required for a Two Wheeler Loan?

Banks have made the documentation process really easy and quick, so you do not waste a lot of time on paperwork. You will need to provide:

Identity proof like the Aadhar Card, Passport, or voters ID card or PAN card

Income proof like income tax returns of the last year for self-employed individuals or bank statements and salary slips for those who are salaried

Address proof like voter’s ID card, Aadhar Card, electricity bill among other valid documents.

For a good example, check the list that clearly mentions the documentation for Two Wheeler Loan you need to provide to secure an HDFC Bank Two Wheeler Loan.

How much time does the documentation take?

With the arrival of digital banking, the loan approval now takes few minutes. For example, once you know you meet the eligibility criteria and have documents in place, you can get your loan application status in just 15 minutes for a Two Wheeler Loan from the HDFC Bank.

Bonus Tip: You can get pre-approved loans with no documentation. For example, if you are an account holder or have a net banking account with HDFC Bank, you can get a pre-approved loan for up to Rs. 4 lac in under 10 seconds.

You can now apply for an HDFC Bank Two Wheeler Loan here.

Need a guide on How to Apply for a Two Wheeler Loan? Click to get started!

* Terms & conditions apply. Two Wheeler Loan disbursal at sole discretion of HDFC Bank Ltd. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances.