List Of Documents Required When Applying For Bike Finance


The feeling of owning a bike or a scooter is unparalleled. Buying a two-wheeler is one of the most critical aspects of an individual’s life journey. If you are looking for bike finance, you would want to make the process hassle-free. You can avail of a loan quickly if you ensure that you have all the documents ready before applying for it. The loan is applicable to both salaried and non-salaried persons. A complete list of documents, when made available, will make it easier for the lender to process your application and reduce the chances of getting rejected.

With increasing demand in two-wheelers, many lenders have started providing two wheeler finance at a fairly low-interest rate to attract more customers. You can check out the two-wheeler EMI calculator to get an estimate of your liabilities on loan and make the right choice by comparing the interest rates of different lenders. Before applying for the loan, make sure you have all the required documents for being eligible for a two-wheeler loan. Read further to find out about the documents as are necessary for bike finance.

Documents required for a two-wheeler loan

Once you are eligible for the loan, be ready to provide the documents required by the lender, dealer, and the insurance company. Following is the entire list of documents you will need to provide

  • For Salaried employee:

    • Identity proof:

To provide the evidence of your identity, you will need to submit ID proof documents such as Driving license, Aadhar Card, PAN Card, Passport, Voter’s Card; etc.

    • Address Proof

To confirm your residential address, you will need to submit your Rental Agreement, Passport, Aadhaar Card, Voter’s ID or Utility Bills, etc.

    • Income Proof:

Since the loan is based on the income you earn and your employment status, the financial institution will need proof of your income. Salary Slips, Recent Income Tax Returns (ITR), and Form 16 are the documents considered to be submitted as income proofs. For assessing your income and deductions, you will have to submit your Income Tax Returns (ITR) of the last three years to process your bike loan and Muthoot used car loan application. Some lenders may require a Salary Certificate which should clearly state the deductions and the Name and Designation from the authorized signatory.

    • Bank Statements:

You are supposed to submit a bank statement for the past year to identify your income and deductions if any.

    • Passport Size Photographs:

You will need to submit your passport size photographs to the concerned lender to process your loan application.

  • For Self-Employed:

    • Identity Proof (ID Proof):

You will have to submit identity proof documents such as Voter’s ID, Aadhaar Card, Driving Licence, Passport, etc.

    • Address Proof:

You need to submit your Voter’s ID Card, Aadhaar Card, Electricity Bills, Gas Connection Bills, Ration Card, Sale Deed, etc. as address proof for confirmation of your residential status.

    • Bank Statements:

You will also have to submit your bank statements for the last three or six months to confirm your income and deductions.

    • Business proof and Income Tax Returns:

For assessing your income and deductions, you will have to submit your Income Tax Returns (ITR) for the last three years to the lender to process your two-wheeler loan application. For business proof you will need to submit Shop & Establishment act Certificate, SSI or MSME Registration Certificate, Sales Tax or VAT Certificate, Current A/c Statement and Regd. Lease with other Utility Bills.

  • Passport Size Photographs:

You will have to submit recently clicked passport size photographs to the concerned lender to process your loan application.

Importance of proper two-wheeler loan documentation:

Any loan agreement starts with clear and adequate documentation. For a borrower, it might be a tedious task to go through a lot of documentation. It is very crucial for the lender to keep a record of all the documents so, as to minimize the risk.


The process of documentation begins after you apply for the microfinance loan, and verification of your credentials is done. The lender, at their end, will check your credit history. Still, your eligibility for the loan will also heavily depend on the documents you would submit for your background verification. Identity and address proofs, income proofs, bank statements, and passport size photographs form the non-negotiable part of the documentation process.


Please enter your comment!
Please enter your name here