What documents are required for a bike loan?

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.

What is the turnaround time for the two-wheeler loan application processing?

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.

Can I get a bike loan without income proof?

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.

What is the documentation process to apply for a two-wheeler loan online?

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.

Documents Required For Loan Against Property

Why waste your time gathering a slew of documents just to get funds when Hero FinCorp provides an instant loan against property approval with minimal paperwork?

Apply for Loan Against Property

Hero FinCorp Loan Against Property Documents

A loan against property is notable for its higher loan value and ability to deal with any major financial crisis. When an emergency occurs, you would not want to waste time gathering documents for loan approval. At Hero FinCorp, we understand what it is like to be in a cash crunch situation. As a result, we have eliminated the time-consuming documentation process for a loan against property approval. Whether you are a self-employed professional or a business owner running a manufacturing unit, retail outlet, and so forth, the documents required for a loan against property only include basic KYC proofs and a few property-related documents.

Loan Against Property Documents Required

Hero FinCorp only provides loans against property to self-employed individuals, and the following is a list of loans against property documents required for instant approval.

Mandatory Documents	Duly filled application form PAN Card
Proof of Identity	Aadhar Card PAN Card ID Card Driver's License Identity Card issued by GOI
Proof of Address	Passport Driver's License Utility Bill Voter ID Card Lease/ Rent Property Registry Copy Property Tax Receipt
Proof of Business Existence	Registration Copy of Sales/ VAT/ Excise/ Service Tax Partnership Deed Copy Trade License Certificate of Practice Registration Certificate issued by Reserve Bank of India (RBI) or Securities and Exchange Board of India (SEBI)
Signature Proof	Banker's Verification Passport PAN Card
Proof of Income	Last three years Income Tax Returns (ITRs) Income Statement Profit & Loss Statement Balance Sheet Bank Account Statement (previous six months) Business Continuity Proof (for three years)
Property Related Documents	Complete set of documents pertaining to the property in question

Frequently Asked Questions

Do I need to provide original KYC documents for mortgage loan approval?

No, you only need to provide a copy of your KYC documents, such as your PAN card, Aadhar card, and so on. However, when applying for the loan, keep the originals with you in addition to the photocopies. Your lender may require the original documents for cross-checking.

Is insurance required for the property I want to mortgage?

Yes, insurance is mandatory to mortgage a property with a financial institution. It covers the loss or damage to your property caused by natural disasters. It is also advised to obtain a mortgage loan insurance. If the borrower dies and the outstanding balance is large, the insurer will pay the remaining balance to the lender.

How long does it take to for the loan against property disbursement?

Mortgage loan processing takes slightly longer than other loan types. The reason for this is that the lender sends a surveyor to inspect the property and determine its value based on the condition and a few other factors. Aside from that, the documents you submitted play a key role in determining the loan disbursement time.