What are The Eligibility Criteria and Documentation for BACL Bike Loan?

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Bike Loan

A two-wheeler loan is convenient for buying your desired bike through manageable monthly instalments (EMIs). However, the options seem endless, with lenders offering different loans and varying terms. Finding the most favourable loan may become daunting, but you can simplify it by learning about the eligibility requirements and documents required. These aspects are key to a successful loan application. This article will discuss them to make the process easier for you.

So, let’s get started!

Documents Required for BACL Bike Loan

A quick and paperless application process has made getting a Two-wheeler on Credit easier. One way to save time is to ensure that the required documents are ready and that you understand the eligibility criteria perfectly. This will speed up the loan approval process.

  1. Accepted KYC Documents for Individual Customers:
  • Passport
  • Driving Licence
  • Voter’s Identity Card
  • Aadhaar Card
  • Job Card issued by NREGA
  • Letter issued by the National Population Register
  1. Deemed to be Officially Valid Documents (DOVD):
  • Utility Bill (Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water bill)*
  • Property or Municipal tax receipt
  • Pension or Family Pension Payment
  • Letter of Allotment of Accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions, and listed companies. You can also submit leave and licence agreements with employers, allotting official accommodation.

The utility bill must be in the customer’s name and no older than 60 days.

Must Read: Documents Required for BACL Two-Wheeler Loans in India 2024

  1. Additional Documents for Salaried Persons:
  • Employment or offer letter
  • Last salary slips (within 45 Days)
  • The last six month’s bank statements, along with the latest Form 16
  1. Additional Documents for Self-Employed Individuals:
  • Last three years’ income tax returns
  • Last six months’ bank statements
  • Sales tax returns
  • TDS Certificate
  • Company details

Eligibility Criteria for a Two-Wheeler Loan

Below, you will find the Bajaj Credit Bike Loan Eligibility for a two-wheeler loan on credit:

  • Age Requirement: The minimum age for applying for these loans is 18, while the maximum age eligible is 65.
  • Residential Stability: The applicant must have been at the same address for at least one year or longer. It denotes stability in their residential situation.
  • Employment Stability: Employed individuals should have a stable employment status of at least one year. Self-employed individuals must submit their tax returns for the last two years.
  • Good Credit Score: Lenders usually want a satisfactory credit score from trusted credit bureaus, demonstrating the borrower’s credit responsibility and repayment capability.
  • Documentation: Applicants must have the required documents, which include KYC (Know Your Customer) documents, ID proof, income proof, and address proof, for their loan application.


In conclusion, securing a two-wheeler loan on credit involves meeting specific eligibility criteria and providing the necessary documentation. By understanding these requirements, applicants can carry out the loan application process more confidently. Ensuring you meet the eligibility criteria and have all the required documents ready will streamline the process and increase your chances of approval. So, whether you’re dreaming of owning a new bike or upgrading your current one, being prepared with the proper paperwork and meeting eligibility standards can make your bike loan journey smoother and more successful.

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Written by kalpanasharma