How To Secure a Two-wheeler Loan Successfully in India?

Last Modified: 28-May-2024

Secure a two wheeler loan successfully in India

As the traffic situation worsens by the day in India, owning a two-wheeler seems to be the smartest solution to commute within the crowded city roads. Whether going to the office, college, or daily errands, a scooter or a bike is a quick and practical option for transport in India. But not everyone can afford to buy the two-wheeler of their choice by paying out of pocket. You can still own the two-wheeler that is beyond your budget by opting for a two-wheeler loan. In this blog, we dive deep into all details essential to obtaining a two-wheeler loan in India with Muthoot Capital.

Eligibility for a Two-Wheeler Loan India

You may apply for a loan to buy a motorcycle or bike if you are salaried or self-employed. Borrow the decided amount and repay it as monthly installments or EMI’s with interest. Muthoot Capital sanctions the loan based on the two-wheeler price, the EMI amount you can pay, and the interest factor in the EMI lessens with each monthly payment.

Before applying for a bike loan, you must check the eligibility criteria for 2-wheeler loan in India. The eligibility requirements are:

  • You must be a resident Indian citizen
  • You must be at least 18 years of age at the time of the two-wheeler loan application and at least 65 years of age at the time of maturity.
  • If you are a salaried person working with a public or private company, you should earn a minimum of Rs 96000. If you are a self-employed individual, you must earn at least Rs 1,20,000 in profits.
  • You must submit all relevant documents along with the loan application, such as KYC, Aadhar/PAN card, etc.

Once you determine if you satisfy all the eligibility requirements, you can calculate the exact amount you will need to pay as EMI. You can calculate this amount through the bike loan EMI calculator online tool.

Understand Loan Terms

Loan Amount –

This is the amount you borrow as a loan known as the principal amount. This amount is calculated based on the two-wheeler cost and your repayment capacity.

Interest Rate –

This interest rate is the amount the borrower must pay calculated as a percentage of the principal amount.


EMI or Equated Monthly Installment is the amount that the borrower must pay the lender each month. With each EMI payment, the borrower is paying back a portion of the principal amount and the accrued interest.

Loan Tenure –

The loan tenure is the number of months within which you must repay the loan amount. Typically, the loan tenure will be between 12 to 48 months.

Repayment Capacity –

Your repayment capacity is adjudged considering your current income, expenses, and any other loan.

Factors to Consider Before Taking a Two-Wheeler Loan

  • Look for any special seasonal or festive offers to buy your bike to avail of discounts.
  • Ensure that you do not over-borrow beyond your capacity to avoid struggle in repayment.
  • Try to pay off any other loans, debit/credit card debts before applying for the two-wheeler loan.
  • As far as possible, opt for a loan repayment plan with flexible EMI options and try to make a greater down payment to get a lower repayment amount.
  • Choose a loan option with a longer and more convenient repayment tenure.
  • Check for any additional costs, charges, late payment fees, and so on if applicable.

Steps to Take a Two-wheeler Loan

  1. Log on to
  1. Check if you satisfy all the eligibility requirements before you apply.
  2. Calculate the two-wheeler loan EMI amount using the online calculator.
  3. Click on the ‘Apply now’ button.
  4. Fill in the application form with the required details.
  5. Submit all essential documents such as identity proof, address proof, and bank statements.
  6. Once all your credentials are checked, our representative will get in touch with you to take the process forward.

Also, Read- How to get a Pre-Approved Loan for Two Wheeler?


A two-wheeler loan in India is the ideal way to procure your dream bike or scooter. Ensure that you meet the eligibility criteria, understand your EMI, check the documentation and get your loan approved quickly.

About Author
Muthoot Capital Services Limited is one of India's most progressive financial companies. It is the part of Muthoot Pappachan Group which carries a legacy & trust of more than 133 years.
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