Bike Loan for Students – Bajaj & KTM

Applicable for the loan disbursed on/ after 1st April 2023

Two wheelers in India can be found in the homes of almost every middle-class family and bikes are a favourite mode of transport for students all across the urban and rural India. Youngsters in the age group of 18 to 21 years aspire to own a bike of their dreams, and for this, we have introduced bike loan for students. We understand most of the students do not have finances to purchase a new two-wheeler and have to depend on their parent’s income for the same.However, there are various factors taken into consideration by the lenders before sanctioning a two-wheeler loan to students.

Features of Student Bike Loan

Our bike loan for students has the following features

  • They are secured loans
  • Repayment tenor is 1-3 years

Eligibility Criteria for Student Bike Loan

They, therefore, have to fulfil certain criteria to avail a two wheeler loan. The applicant:

  • Must have Co-Applicant

  • Must be a student and minimum age of applicant should be 18 years.

  • Should apply for student’s two-wheeler loan with co-borrower/ guarantor/Applicant.

  • Have a valid residential address Additionally,

  • The co-borrower should have a valid proof of steady income and good score with the credit bureaus.

Required Documents for Student Bike Loan

The documentation required for availing a student’s two-wheeler loan is mentioned below:

  • The applicant must present the proof of identity in the form of Aadhar card, passport, driving license, electricity bill, phone bill etc.  
  • Salaried co-borrower must submit six month’s salary slips and six months bank statements.
  • Self-employed co-borrower must submit three years income tax returns, banks statements for the last six months and proof of business.

Bajaj Auto Finance provides the most competitive two wheeler loan interest rate, because we understand they are not yet the earning members of the family.  You can use our bike EMI Calculator to calculate your monthly installment.

Contact us to know more about student bike loans.