Driving a bike gives more thrill and excitement on the empty road. It also gives you convenience in your daily life. The adaptability of two-wheeled vehicles makes them essential riding partners in all seasons. Buying a two-wheeler outright may be challenging for a lot of people due to high costs. The availability of two-wheeler loans allows more people to own a bike or scooter, regardless of their ability to make upfront payments. But it would help if you were prepared before applying for the loan. Learning the list of documents is the first step in owning your bike.

This article lists the required documents for BACL Two-Wheeler Loans in India. Read on.

Bajaj Auto Credit Bike Loan: Documents Required

The application process for Bajaj Auto Credit Bike Loan demands that you present specific documents to complete your application. The following documents are required to authenticate your identity:

Accepted KYC Documents for Individual Customers

● Passport: A valid passport helps confirm the identity and residence of an individual.

● Driving Licence: You can use a driver’s licence to prove your identity and qualification to operate a motor vehicle.

● Voter’s Identity Card: This card verifies your identity and citizenship status.

● Aadhaar Card: An Aadhaar card is a unique identification document provided by the Indian government. It is used as an identity proof.

● Job Card issued by NREGA: This document confirms your employment status under the National Rural Employment Guarantee Act.

● Letter Issued by the National Population Register: This letter confirms your identity and details as per the National Population Register.


Must Read: Bajaj Auto Credit Bike Loan Documents Required

Deemed to be Officially Valid Documents (DOVD):

● Utility Bills: Documents such as electricity, phone, post-paid mobile phone, gas, or water bills are always considered proof of address. They are proof of your residential address.

● Property or Municipal Tax Receipt: A receipt of your payment of property or municipal taxes proves that you own or occupy a property. It makes your residential status more credible.

● Pension or Family Pension Payment: If you are a pensioner or a beneficiary of a family pension, then your proof of pension payments is a sign of a solid financial profile. This shows you can repay your loans and improve your loan eligibility.

● Letter of Allotment of Accommodation: This letter is issued by your employer (State Government, Central Government Departments, etc.) and verifies your official accommodation. It involves details of stay and accommodation with employers granting semi-official housing. Correspondence through these mediums certifies your residence address and labour employment regardless of the district.

Additional Documents for Salaried Persons:

For an employee with a regular salary, the application process comprises some general documentation to prove financial stability:

● Employment or Offer Letter: This certifies your current status as an employee and income source. It confirms your position, the name of the company you are working with, and your start date. 

● Last Salary Slips (Within 45 Days): Recent Salary Slips represent the last three months’ average earnings. It provides an understanding of your average income. Lenders rely on these documents as a guideline to check earning stability and capacity to pay the loan. 

● Last Six Months Bank Statements and Latest Form 16: Bank statements for the last half-year provide a complete picture of your banking activities. Also, your latest Form 16 outlines your income and taxes deducted for the preceding financial year. It is proof of tax compliance.

Must Read: What Documents are Required for a Bajaj Credit Two-Wheeler Loan?

Additional Documents Required for Bajaj Auto Credit Bike Loan: For Self-Employed


Self-employed people require additional documents for their loan applications. These documents present a general picture of their financial standing and how they operate their firm.

● Last Three Years Income Tax Returns: These documents contain income history for the past three years as well as tax compliance.

● Last Six Months Bank Statements: Bank statements are proof of your earnings stream and financial records.

● Sales Tax Returns: Sales tax returns show the sales revenues of your business and tax compliance. They give banks data on how your business is generating revenue.

● TDS Certificate: The Tax Deducted at Source (TDS) certificate confirms the tax deductions made.

● Company Details: This includes details about your company, such as the registration certificate, business physical address, and nature of operations. It helps lenders understand the business structure.

Conclusion

Gathering the required documents can make the bike purchase easier. Several lenders offer loan options with attractive interest rates. Check out Bajaj Captive Finance to get the best deals on bikes and two-wheelers. Explore the possibilities today, and bring home your dream vehicle.