How to Get a Bike Loan for Students in India?

If there is one thing that is getting more and more certain in Indian metro cities, it is the need for two-wheelers on Indian roads. Public transport is often overcrowded and late. Using four-wheelers on crumbling roads will result in you being stuck in bumper-to-bumper traffic. It is in times like this where a nifty two-wheeler motorbike can get you from point A to point B and in class on time.

Why Do We Need Bike Loans?

These kinds of loans are generally available for a period of 1 to 3 years in India. Typical four-wheeler loans can be taken for up to 6 years. However, a two-wheeler loan is shorter since the loan amount is generally lesser.

Being a student, it might be challenging to raise funds required to buy a motorbike. After all, students generally have a meagre source of income and scooters costing even Rs 60,000 might be too expensive to buy. Financial Institutions and lenders have realised this. To ease the financial burden and to allow them to purchase a bike, lenders offer a bike loan for students in India.

Additional Read: How to Get a Two Wheeler Loan?

Here are some simple steps which you can use to avail a Two-Wheeler Loan in India.

1. Ensure That You Have A Co-Applicant Or Co-Sponsor For The Loan:

Since most students do not have any financial income, it is essential to have someone who can step in and pay off the loan in case they default. This co-sponsor is usually recommended to be an earning family member who has a good credit history as well as holds a secure salaried job

Most lenders will ask the co-sponsor to provide their last six months of bank statements as well as a recent income tax slip that can be for a period of up to 6 months. You must keep all these documents handy before applying for the bike loan.

2. Make Sure You Satisfy The Minimum Age Criteria:

The minimum age to apply for a student bike loan is 18 in India. This is because the Government only allows citizens of the age of 18 and above on the roads. Make sure that you possess a driver’s license and have all the necessary documents that prove that you fulfil the minimum age criteria.

3. You Should Be A Resident Of The Country:

To secure a two-wheeler loan, most lenders require their customers to be a resident of India. At the very least you should possess a fixed address in the country. A simple way to provide your proof of address is to show your Aadhar Card to the lender.

Additional Read: 5 Bikes for College Students in India


When applying for a two-wheeler loan, both the presence of the principal applicant --the student--, as well as the co-sponsor, is required. Before picking out a lender to get the loan from, the borrower must take special care to research the loan terms and conditions. Once they are satisfied with all the fine print, it is acceptable to sign the loan agreement, and the disbursal of the loan amount to the applicant’s bank account will take place.

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