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              • Two Wheeler Loan Eligibility

              Two Wheeler Loan Eligibility

              Have you waited too long to buy your dream bike? Wait no more. With Hero FinCorp’s bare minimum eligibility requirements, get your two-wheeler financed without any hassle.
               

                Apply Now for Two-wheeler Loan

                Hero FinCorp Two-wheeler Loan Eligibility Criteria

                Ready to buy your dream bike? Hero FinCorp offers instant Two-Wheeler Loans at competitive rates with minimal eligibility requirements. Get quick approval, competitive interest rates, and flexible repayment tenures. So, no more waiting—finance your ride hassle-free with Hero FinCorp and hit the road with confidence today!


                Why compromise on what you want when you have access to funds at your fingertips? At Hero FinCorp, we don’t ask you to go through stringent qualifying conditions. To check your Two-Wheeler Loan eligibility, just go through the table below.
                 

                Citizenship & Age

                You should be a citizen of India and must be over 18 years of age.

                 

                Employment Status

                Both salaried and self-employed individuals can apply for this loan.

                 

                Experience (Salaried Individuals)

                You should have been employed for at least one year and have at least six months of experience with your current employer.

                 

                Experience (Self-Employed Individuals)

                You should have been in your current business for at least one year

                 

                Maximum Loan Tenure

                Flexible repayment tenure of up to 60 months

                 

                Minimum Loan Amount

                You can apply for an amount as low as Rs 10,000

                 

                Maximum Loan Amount

                Up to a maximum of Rs 3,50,000 or 100% of the bike's market value (conditions apply)

                 

                Monthly Income

                Minimum income Rs 10,000 per month

                 

                Factors that Affect Two-wheeler Loan Eligibility

                Before applying for a bike loan, be aware of the factors that influence your two-wheeler loan eligibility.

                Age

                Anyone over 18 years can apply; a guarantor is needed for students.

                Income

                Higher income improves approval chances but isn’t mandatory.

                Credit History

                Poor credit history lowers loan approval chances.

                Area of Residence

                Metro city residents have better loan approval chances.

                Employer Status

                 A stable job in a reputed company improves approval chances.

                Stability

                Minimum one year of employment, six months in the current job required.

                Existing Debt

                Too many debts reduce loan approval chances.

                How to Improve Your Eligibility for Two-wheeler Loan?

                Do not be disheartened if you find that you are not eligible for a loan when you check bike loan eligibility online. Here are some tips to boost your two-wheeler loan eligibility.

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                Improve Credit History

                Clear past debts to get better loan rates and quick  approval.

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                Long Repayment Tenure

                A longer time to pay reduces EMIs and improves loan chances.

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                Add Co-applicant

                Adding a co-applicant with a good income helps get a loan.

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                Additional Income

                Show extra income to improve loan approval chances.

                Frequently Asked Questions (FAQs)

                Irrespective of being a salaried or self-employed individual, you must meet the following two-wheeler loan eligibility requirements:

                • You must be over the age of 18 years
                • You must have a steady flow of income
                • You should have been employed for at least a year
                To check bike loan eligibility, go to Hero FinCorp's website and read our eligibility section. You may also use a two-wheeler loan eligibility calculator.
                Both salaried and self-employed individuals are eligible to apply for a two-wheeler loan.
                Since you will be paying off your two-wheeler loan in monthly instalments (EMI), you must have enough earnings to fulfil your monthly expenses as well as your EMI commitments. Thus, having a higher income boosts your eligibility for a two-wheeler loan. In addition, if your monthly income is high, you will be able to obtain a higher two-wheeler loan amount and vice versa.
                Your credit history is a record of your previous borrowings and repayment patterns. It helps the lender in determining the soundness of your profile. If you have defaulted on any of your previous loans or skipped EMIs on a previous or existing loan, your lender will learn about it through your credit report. If you are looking to apply for a two-wheeler loan, make sure your credit report is in good shape.
                Depending upon the documents and the time taken to verify the same, your two-wheeler loan will be processed within 48 hours.
                The minimum bike loan period we offer to the borrower is 6 months. During this period, they can repay the loan in easy installments.
                Eligibility for Hero FinCorp Two-Wheeler Loans includes age, income, credit history, area of residence, employer status, stability, and existing debt.
                Yes, a CIBIL score is required to evaluate the borrower’s credit history for the loan.
                You cannot get a Two-Wheeler Loan without proof of income.
                The minimum salary to buy a bike with us is Rs 10,000 per month.
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                Hero Fincorp Limited follows, high data and system security standard

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