Two wheeler loan
- Loan

Two-wheeler loan in Kochi | How to apply and avail best offers

Kochi is a large port city in the state of Kerala on India’s south-west coast. The city is a popular tourist destination known for its lush greenery, is dubbed India’s “Smart City” due to significant investments in information technology. The Cochin Stock Exchange, the International Pepper Exchange, and enterprises like HMT, Cyber City, Kinfra Hi-Tech Park, significant chemical companies, and electrical industries are all located in Cochin.

Having your two wheeler vehicle in a big city where commuting has longer routes and distances is always a fantastic choice. And, if you are looking to obtain a simple two-wheeler loan in Kochi at the lowest possible interest rate is no longer a dream.

What is a two-wheeler loan?

A Two Wheeler Loan enables you to purchase a bike or scooter of your choice. Both salaried and self-employed individuals can apply for a two-wheeler loan in Kochi.

Features of a Two Wheeler Loan in Kochi are as follows:

  • Quicker disbursement of loan funds
  • Two-wheeler loans are simple to obtain and have a low-interest rate
  • You can opt from various simple payment options
  • The documentation process of two wheeler loan is simple and smooth
  • Make your dreams of owning a new two-wheeler a reality.

Documents required for a Bike loan

Following are the important documents for bike loans to be submitted while applying for two-wheeler loans in Kochi:

  • Completed loan application
  • 3 Passport size photographs
  • Bank Account Statement / Pass Book for last six months
  • Address Proof (photocopies of recent Telephone Bills/ Electricity Bill)
  • Identity Proof (photocopies of Voters ID card/ Passport/ Driving license/ IT PAN card)
  • IT returns for the three years for self-employed professionals
  • Form 16/IT returns for the previous two financial years for salaried employees

Points to be kept under consideration while applying for a two wheeler loan

While applying for a two wheeler loan, keep the below-mentioned points that can help you in figuring out the appropriate loan-

  • Do thorough research: Before you apply for a bike loan, you must first do your research well. Examine all of the possibilities available from different lenders. Interest rates, processing fees, repayment choices, and other loan parameters should all be compared. Doing this will assist you in finding a feasible option.
  • Select your tenure wisely: The amount you must repay each month is determined by the loan’s length. Make sure the EMIs are affordable. As a result, you must choose your tenure carefully. The loan will be repaid faster if the term is shorter. Your EMIs, on the other hand, would be rather high. So, choose based on how much you can manage to pay off each month without going into debt.
  • Select a reasonable interest rate: Your loan’s total cost is determined by your interest rate. It also affects your EMI. Choosing a low-interest loan would help you keep your EMIs low. It will also lower the cost of your loan.
  • Evaluate your EMIs beforehand: When comparing loan choices, make sure to factor in the corresponding EMIs. Go for a loan with a low EMI and a manageable payback schedule.

How to apply for a two-wheeler loan in Kochi?

There are several ways of applying for a bike loan:

  1. The dealer

Most showroom owners or two-wheeler dealers have relationships with NBFCs and banks, whose representatives you can visit at the showroom to discuss the loan process and the documentation required.

  1. Bike manufacturer

Manufacturers of motorbikes, such as Hero and Bajaj, have their own financing facilities through which they make loans to their consumers at low-interest rates.

  1. Bank/NBFC website

You can apply for a two-wheeler loan by going online and visiting any of the banks or NBFCs that offer them. You must complete the required information on the website. A representative from the bank or NBFC will visit your home to collect the required documents for a bike loan. Once the document verification is done, the loan amount will be issued.

  1. Customer care

A potential borrower can also contact a bank or NBFC’s customer service department to obtain information and apply for a two-wheeler loan. A bank/NDFC employee will visit your home to gather the appropriate documentation. Your loan will be disbursed once the verification process is finished.

Do’s & Don’ts of two-wheeler loan



Do thorough research before applying for two wheeler loan

Don’t apply for several loans simultaneously

Make sure you’re qualified for the loan you’re looking

Don’t apply for a loan just for a sake of receiving a nice welcome present.

Compare interest rates to find the most feasible option

Don’t forget to properly complete the application form

Compare fees and additional expenses associated with processing

Don’t sign any loan documents until you have thoroughly read them


With this, you will have an idea of how to apply for two wheeler loan in Kochi and avail best offers.