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Money matters

Eligibility to Apply a Bike Loan

Eligibility to Apply for a Bike Loan

YES BANK, one of India’s leading banks, offers a diverse range of products, each designed to address the banking needs of the nation.

When it comes to bike loans, YES BANK provides thousands of Indians the ability to realise their dreams and aspirations by providing the necessary finances for purchasing a two-wheeler.

The eligibility criteria for a two-wheeler loan from YES BANK are as follows:

Age - The norm for loans on two-wheelers requires the minimum age to be 21 years. The maximum age for applying for a loan for a bike is 65 years of age.

Employment - Another factor essential in determining whether you are eligible for a loan is if you are a salaried or self-employed individual. At YES BANK, the requirements for salaried employees differ from those of self-employed individuals.

Minimum Income - For a loan for a two-wheeler, the minimum income requirement is flexible, depending upon the bank’s requirements. The minimum income is dependent on whether you are a salaried employee or a self-employed individual. You would be required to provide proof of income for the same.

Residential Requisite -YES BANK requires that an individual resides at a singular location for a minimum of two years as a sign of stability regarding the address.

Credit Score - A key factor that is considered when banks are evaluating applicants for loans is a credit score. For those who are just starting their financial portfolio, a loan is a good start to building your score. The usual CIBIL score that banks consider good ranges from 700-800 points.
 

To apply for a bike loan from YES BANK, visit our website to apply for a loan online from the comfort of your home or office. You can also visit the nearest YES BANK branch to apply for the loan in person.

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