Used Bike loans in India - Apply online second-hand two wheeler finance

Due to the narrow roads, potholes, gullies, etc., a two-wheeler is considered the most suitable option to travel. Personal vehicles provide a feeling of independence. You are no longer dependent on autos and buses.  But everyone can’t afford a new two-wheeler, for them buying a second-hand bike is the best and most affordable option. These days, you can easily get a loan for a used bike. It is one of the best financing options to purchase a second-hand bike at ease.

Benefits of applying for a used two-wheeler loan in India

Helps in maintaining liquidity

Purchasing a used two-wheeler in a lump sum can burn a hole in your pocket. It is never considered wise to exhaust all the savings in one go. For that reason, it is better to apply for used two-wheeler loans. This will ensure that you will have sufficient reserves in your hands for any emergencies. 

24 Hour Disbursement

Your loan amount will be credited within just 24 hours after your loan application has been approved.

Minimal Documentation

All you need to provide are 3 documents - ID proof, address proof, and income proof.

Loans with Low Credit Score

For used-two wheeler, even if you have a relatively low credit score, you can still get a loan. However, a minimum CIBIL score of 600 or an Experian score of 650 is a must.

The flexibility of loan Amount and repayment Term

Depending on your eligibility you can choose any loan amount of up to Rs. 5 lakhs and repayment tenure of up to 60 months

100% Online

The entire process from application to disbursal is quick and hassle-free

Eligibility criteria to apply for a used loan

Age criteria

You can only get a used bike loan if you are above the age of 21 years of age. Furthermore, at the time of the two-wheeler loan maturity, you cannot exceed 59 years of age. 


Both salaried, as well as self-employed individuals, can apply for a second-hand bike loan. However, it will depend on your CIBIL score whether you get a loan or not. 

Salary requirements

You should have a salary of more than Rs. 12,000, and you will need work experience of at least one year. This is to ensure that you will be able to repay the used two-wheeler loan.

The documents required to apply for a used two-wheeler loan:

Identity proof 

  • Voter id card issued by Election Commission of India 
  • Driving license
  • Passport
  • Aadhaar card
  • Job card issued by NREGA duly signed by an officer of the State Government 
  • Letter issued by the National Population Register containing details of name & address

Address proof

Utility bill, in the name of customer, which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas/gas passbook, water bill); 

Property or Municipal tax receipt

Pension or family pension payment orders (PPOs) are issued to retired employees by Government Departments or Public Sector Undertakings if they contain the address.

Letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies.

Income proof

Here is the list of most acceptable income proofs

  • 3 months Bank Statement / Latest ITR for Self Employed
  • 3 months’ salary slip/ 3 months bank statement with salary credit/ Form 16 for Salaried

Passport size photograph

As proof of identity, you need to upload your recently clicked passport-sized photograph. These are the documents you will need to apply for a two-wheeler loan.

Steps to apply for a used two-wheeler loan online

  • First, check your eligibility
  • Visit the lender’s website or download the app. Provide all necessary details and in 2 minutes you will know your loan amount eligibility. 
  • Then select your loan plan
  • Choose the loan amount and repayment term of your choice based on your eligibility for a used-two-wheeler loan.
  • Provide required documents
  • Upload the required documents easily and effortlessly
  • 24 Hour loan disbursal
  • After your documents are verified and the loan agreement is submitted, the loan amount will be credited to your bank account within 24 hours

Tips for choosing the best-used bike or two-wheeler loans

Good Credit Score

A credit score is a representation of how creditworthy you are. The higher is your credit score, the lower is the risk for the lender making it easier for you to avail of a loan at low-interest rates. A CIBIL score of 750 or above or an Experian score of 800 or above is generally acceptable.

Budgetary Requirements

Everyone’s requirements will vary, and it is important to choose a loan amount and tenure that suits your needs the best. Do not get tempted by attractive offers on two-wheelers that you do not need or cannot afford. At the end of the day, all loans need to be repaid therefore choose one that is affordable.

Ask Questions and Compare

It is important for you to understand all the terms and conditions involved in the loan agreement. Ask questions to find out all the details. Additionally, you don’t have to settle for the first loan offer that comes to you. Compare the rates and conditions offered by various lenders and opt for the one that suits your needs.