Bank Statements: You have to submit bank statements for the last 3 or 6 months to confirm income and deductions if any.Address Proof:Rental agreement, Voter ID Card, Aadhaar Card, utility bills, sale deed, etc.ID Proof: Driving Licence, Passport, Voter ID Card, Aadhaar Card, etc.Passport-size photographs:The bank will require a set of passport-sized photos to process your loan application.Bank Statements: You will have to submit a bank statement for the past year to verify your income and deductions if any.Income Proof: Since the bike loan you receive will be based on your income, the bank will require proof of your income in the form of salary slips, recent Income Tax Returns, and Form 16.Address Proof: Rental Agreement, Passport, Aadhaar Card, Voter ID Card, utility bills, etc.ID Proof: Driving Licence, PAN Card, Aadhaar Card, Passport, Voter ID Card, etc.Check thoroughly for the processing fee, rate of interest, fines in case you default on one of your installments, and other special conditions before you pick a financing scheme.īelow is the list of documents that you'll have to submit in order to apply for a two-wheeler loan: Today, every major bank offers EMI schemes, through which you can finance 100% of the cost of the two-wheeler and return the loan in up to 60 months. Of course, a lot of buyers may not be able to afford outright payments. You're fully set to hit the open road once the vehicle’s details are verified, and you’ve paid the insurance amount. The Tata AIG two-wheeler insurance is an ideal choice for your bike or scooter as it offers attractive savings on premiums, a hassle-free claims process, good claim settlement ratios, cashless repairs and reimbursements, and unique add-ons. All you must do is give your registration number and the vehicle’s chassis number to the insurance company. You can also select an insurance policy for your vehicle through a company of your own choice. ![]() Look out for the tenure for which it covers damages as well as the types of damages covered (natural disasters, personal accidents, etc.). However, it is vital to check how comprehensive the policy is. The insurance cost will be bundled into the on-road price of the two-wheeler. You'll rarely run into a showroom that doesn't offer two-wheeler insurance ever since the government has made third-party scooter or bike insurance mandatory. ![]() Save up enough, hand the money to the dealer, and the two-wheeler is yours. If you're living on rent, you must carry your rental agreement along with your landlord's electricity bill.Īn on-the-spot purchase is the easiest way to ride out of the showroom with your brand-new bike or scooter. All you need to do is submit a couple of passport-size photographs, a valid ID proof, and proof of address. The documents required for bike registration are as follows: Type of DocumentĬlearance Certificate for Imported Vehicleĭriving License, PAN Card, Aadhaar Card, Passportĭriving License, Aadhaar Card, Passport, etc.įorm 34 (Signed by financier as well as vehicle owner)ĭealerships will take care of the process of registering your vehicle with the RTO, so you don't have to run around with the paperwork. When you buy your bike or scooter, it has to be registered with the Regional Transport Office within a week from the day of delivery of the vehicle. Your two-wheeler now needs to go from sitting on the showroom floor to being road-legal. The documents required for bike purchase will depend on whether you are a salaried professional, run your own business, pay for the two-wheeler outright, or apply for a two-wheeler loan.īefore you hop off to the nearest showroom, make sure to check out this comprehensive guide to the list of documents required for bike purchase in India. While third party two wheeler insurance shields you against financial liabilities that might arise due to injuries, deaths, or damages to a third party or their property, a comprehensive online two-wheeler insurance policy will cover the damages caused to your bike as well. ![]() If this isn’t your first purchase, you might want to apply for a bike insurance renewal. It's also mandatory to purchase a two wheeler insurance to ensure protection against the financial liabilities of accidental damages to the bike or to a third party. However, when you bring your new chariot home, it is mandatory to get your vehicle registered with the Regional Transport Office (RTO) to verify the authenticity of your ownership. The excitement of owning a two-wheeler can be unparalleled - whether you just got into college or bagged your first ever job.
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