Documents Required for Two-Wheeler Loan.
Two Wheeler Loan Documents.
Are you dreading the lengthy documentation work needed for availing of a Two-Wheeler Loan in India? Things are different at Hero FinCorp. With us, get instant approval for a Two-Wheeler Loan and that too with a bare minimum amount of Two-Wheeler Loan documents.
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The happiness of getting something you truly desire is unmatched. Knowing that, at Hero FinCorp, we do all we can, including easing the documentation process, to help you buy your dream bike. With us, the Two-Wheeler Loan required documents include KYC documents and income proof. However, remember, the 2-Wheeler Loan documents required for self-employed individuals are a bit different from those required for salaried individuals.
For salaried individuals, the documents for a Two-Wheeler Loan with Hero FinCorp include:
- •Mandatory Documents: Duly filled loan application form, Passport size coloured photograph
- •Identity Proof (any one): Driving Licence/ Aadhaar card/ Passport/ PAN Card/ ID Card issued by Central Government/ State Government/ PSUs
- •Residence Proof (any one): Driving Licence/ Aadhaar Card/ Passport/ Property or Municipal Tax Receipt/ Ration Card/ Utility Bill
- •Income Proof: Salary Slips (last six months), Bank Account Statement of last six months (salary account), Salary certificate (stating name, designation, and authorized signatory), Form 16
- •Job Continuity Proof: Job offer letter from the current employer and Experience certificate from the previous employer
- •Age Proof (any one): Birth Certificate/ Passport/ PAN Card/ Driver’s Licence
How to Submit Bike Loan Documents?
When applying for a bike loan, it's essential to submit the required documents. Follow these steps to ensure a smooth and efficient document submission process:
Gather Documents
Collect all required paperwork for your loan.
Verify checklist
Ensure all necessary documents are included.
Make copies
Organise and store them properly.
Apply
Visit a branch or upload documents online.
Double Check
Review details before submission.
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Frequently Asked Questions.
If you are looking to apply for a Two-Wheeler Loan, then the basic required documents for a bike loan include KYC documents, income proof, business continuity proof, duly filled Two-Wheeler Loan application form, and passport-size photographs.
The bike loan processing time entirely depends on documents needed for a two-wheeler loan. If you have all the required documents handy and the lender is satisfied with them, then the loan will be processed within 48 hours.
Yes, you can acquire a two-wheeler loan without income proof if you have other documents in place and are applying with a co-applicant.
The documents required for a two-wheeler loan are almost similar for both online and offline applications. The only difference is that while applying for a two-wheeler loan online, you need to upload a copy of all the essential two-wheeler loan documents. In addition, you may use e-KYC to verify your identity and address using your Aadhaar card. By simply entering your Aadhaar Card number, the system will retrieve your information—saving you time and effort.
Typically, you need identification proof, address proof, income proof, bank statements, and the proforma invoice of the bike. If you fulfil these conditions of required documents for bike loan and you tend to meet our requirements, you’ll have a Two-Wheeler Loan.
The processing time for a Two-Wheeler Loan takes a few days following the day the loan is approved and you have submitted all the bike finance documents required by the lender. If the documents are incorrect, the processing may be further delayed.