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Documents Required for Two-Wheeler Loan

Discover the ease of our Two Wheeler Loan application process that requires minimal documentation. Avail a Two Wheeler Loan with our simple documentation process that ensures quick approval of your loan application, enabling you to purchase your dream bike. Experience the hassle free and convenient loan application process designed to meet your financial needs. Achieve your dream of owning your favourite two wheeler.

 

  • EMI as low as Rs 29* per Rs 1,000

  • Loan up to 100% of on-road price

 

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Listed below are the Documents Required for BIke Loan

The following documents are required to apply for a bike loan

 

Documents Salaried Self Employed Professional
Application form
KYC    
Photographs
Identity Proof
Address Proof
Age Proof
Bank Statements
Signature Verification
Income Proof    
Latest Salary Slip / Form 16  
Income Tax Returns (ITR) for the latest one year  
Other Documentation    
Business Stability proof / Ownership proof  
Employment Stability Proof  

 

Udyam Registration Certificate (URC) is mandatory to classify the loan under MSE*

 

(subject to norm fulfilment)

 

*Micro & Small Enterprise

 

 

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Bike Loan Documents FAQs

What documents are required for a Bike Loan?

To apply for an ICICI Bank Two-Wheeler Loan, you will need to provide the following documents:

1. Identity Proof (Voter's card, Driving Licence, Passport, Aadhaar card, etc.)

2. Address Proof (Utility bill, property or municipal tax receipt, employer's letter of accommodation, etc.)

3. Income Proof (Bank statement, ITR, salary slips, Form 16, etc.)

4. Proof of Purchase (Invoice or quotation from the two-wheeler dealer)

5. Photographs

These documents are necessary to verify your identity, residence, and financial stability, ensuring compliance with regulatory requirements.

What is the process to apply for a Two Wheeler Loan?

At ICICI Bank, the Two Wheeler Loan application process includes submitting the application, verifying the documents, getting the loan approved and getting the loan disbursed in your account. To apply for the loan, you must provide a duly filled in application form, submit the documents, check your credit score and await approval before the loan amount gets disbursed in your account.

Can I buy a two wheeler without a down payment?

Yes, you can buy a two wheeler without a down payment subject to eligibility criteria specified for the loan. However, you may be required to meet specific income and credit score requirements to qualify for a zero down payment option.

What are the interest rates charged on the Two Wheeler Loans?

The Two Wheeler Loan interest rates vary depending on factors like the loan amount, tenure and creditworthiness. ICICI Bank offers affordable interest rates ranging from 10.25% to 26.10%.

What is the EMI for ₹ 1 lakh Bike Loan?

If you have taken a Two-Wheeler Loan (also known as Bike Loan) of ₹ 1 lakh, the EMI amount will depend on the rate of interest and the tenure of the Loan. ICICI Bank offers a smart way to get an estimate of your EMI amount with the help of a Two-Wheeler Loan EMI Calculator. This calculator is free to use and available on our website. 

What are the other types of loans that ICICI Bank offers, besides Two-Wheeler Loans?

ICICI Bank provides various loans, including Home Loan, Car Loan, Personal Loan, Business Loan, Education Loan and Loan Against Property. Eligible applicants can also apply for a Loan Against Credit Card with attractive interest rates and flexible repayments.

How is the interest on a Bike Loan calculated?

The interest on a Two-Wheeler Loan (also known as a Bike Loan) is calculated using the reducing balance method. It means interest is charged only on the outstanding loan amount, not the entire principal. As you repay the loan through EMIs, the interest portion decreases over time. You can use ICICI Bank’s Two-Wheeler Loan Calculator to check how much interest you will pay across the loan tenure.

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