Two-Wheeler Loan Eligibility

Age Limit

• 21 to 59 years of age

Employment Status

• Salaried or Self-Employed

Employment Proof

• Salaried Professionals: A work experience letter from the current employer confirming at least one year of employment.
• Self-Employed Professionals: Documentation confirming active business operations of at least 2 years.

Unorganised Sector (Housewives, farmers, students, etc.)

• A co-applicant or guarantor with a stable income and good credit score is required.

Proof of Residence

• The applicant must have resided at the current address for at least one year.

Identity Proof (any one)

• Passport
• Driving licence
• Aadhar card
• Government-issued Voter ID card

Address/Residential Proof (any one)

• Passport
• Driving licence
• Gas bill with Gas book

Proof of Income

• Bank statements of the past 6 months
• One cancelled cheque
• ACH form for electronic clearing mandate

Other Requirements

Recent passport-size photographs

• Income: A steady and verifiable income is the primary indicator of your repayment capacity. The income required varies depending on the on-road price of the two-wheeler you are financing.
• Existing Debt: Your Debt-to-Income (DTI) ratio — the share of your monthly income already committed to loan repayments — is assessed during the eligibility review. A high DTI may reduce your eligible loan amount, so clearing outstanding short-term dues before applying can strengthen your profile.
• Work Experience and Stability: Salaried applicants must have at least one year with their current employer; self-employed applicants must demonstrate at least two years of active business operations. A longer and more stable track record improves your application.
• Down Payment: Shriram Two-wheeler Loan finances up to 95%* of the on-road price, which means a minimum down payment of 5%* is required. A larger down payment reduces your loan amount and may positively influence your approval outcome.

Maintain a Good Credit Score

• A good credit score reflects your repayment history and improves your chances of approval and may positively influence your loan terms.
• Pay existing loans and credit card dues on time, and keep your credit utilisation low to build and maintain a strong credit standing.

Reduce Existing Debt

• Lowering your DTI ratio before applying signals stronger repayment capacity to the lender.
• Where possible, close smaller outstanding loans or clear credit card dues before submitting your application.

Add a Co-applicant or Guarantor

• If your credit history is limited or your profile does not fully meet the eligibility criteria, a co-applicant or guarantor with a stable income and strong credit profile significantly improves your application.
• This option is open to all applicants — not only those from the unorganised sector.

Choose a Loan Amount That Matches Your Income

• Applying for a loan amount proportionate to your income makes it easier to meet the bike loan eligibility criteria and improves the likelihood of approval.
• Use the two-wheeler loan EMI calculator to find a monthly instalment that fits your budget before you apply.

Maintain Employment Stability

• A consistent employment record signals financial reliability — avoid switching jobs or changing your business structure shortly before applying.
• Salaried applicants should ideally have completed at least one year with their current employer; self-employed applicants should have at least two years of stable operations.

Ensure Complete Documentation

• Having all required documents — identity proof, address proof, and income proof — accurate and up to date prevents delays during verification.
• Review the documents list in the section above and confirm everything is in order before you submit your application.