Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

How to Apply for Two Wheeler Loan and Get Online Approval?

Published on Dec 29, 2020Updated on Oct 11, 2023

How to Apply for Two Wheeler Loan and Get Online Approval?

For the burgeoning middle class in India, purchasing a two wheeler is almost akin to reaching a significant milestone in life. Having said that, many are still unable to fulfill this aspiration due to a lack of instant funds or upfront cash. Hence the reason why banks, NBFCs, and fintech companies are offering a host of two wheeler loans across the country. These two wheeler loans give convenient access to funds to anyone who wishes to purchase a motorcycle or bike that can be repaid in easy installments across a designated period of time.

SMFG India Credit offers easy to get two wheeler loans to residents of India. With its conveniently online process customers are not even required to make a physical visit to a branch office.

Eligibility Criteria

If you are wondering how to get a two wheeler loan from SMFG India Credit, then you should start with a quick eligibility check first. Here is a list of two wheeler loan eligibility parameters that you must meet.

  • You must be a citizen of India residing at the same address in for a minimum period of 12 months
  • You must be a minimum of 18 years of age when applying for the two wheeler loan and a maximum of 65 years prior to the loan’s maturity
  • You must be a salaried employee at a public sector enterprise, a multi-national or a private limited company for a minimum period of 1 year. If you are self-employed or a business owner, you will be required to submit Income Tax returns for 1 consecutive year at the time of loan application
  • You must have a good CIBIL score
  • You must have a permanent telephone number
  • You must have all the relevant KYC documents such as PAN, Aadhar Card, etc.

Once you have checked your two wheeler loan eligibility on SMFG India Credit website you will be able to ascertain if you can progress towards making a formal online application for the loan.

Must Read: How Does a Zero Down Payment Bike Loan Help You?

Calculate Your EMI

Meeting the eligibility parameter is step one. Now you must find out the amount that you need to repay your two wheeler loan in the form of monthly installments.

Depending on the total loan amount, you can check your monthly installments amount by using the two wheeler loan EMI calculator. This is a simple to use tool that is available free of cost online. Simply key in your preferred loan amount and interest rate. You can then adjust the period of repayment between 12 and 60 months to check the approximate EMI amount you may need to pay.

Required Documents

You will be required to submit soft copies of a few basic documents when applying for a two wheeler loan with SMFG India Credit. This is primarily needed to verify your eligibility status. The list of documents includes:

  • Duly fill in and sign the two wheeler loan application form
  • KYC documents - PAN card is compulsory, also valid address proof like Aadhaar, Driving license, etc.
  • Passport size photographs

Additional Documents for Salaried persons:

  • Salary slips for 3 months
  • Last six months bank statements  

Additional Documents Self-Employed:

  • Last three years income tax returns
  • Last 6 months bank statements

Depending on your individual profile, a few additional documents may also be requested. All submitted documents will be reviewed by SMFG India Credit before approval.

How To Apply for a Two Wheeler Loan?

Applying for your two wheeler loan online at SMFG India Credit is a convenient, quick and hassle-free process. Follow these easy steps:

  • Log on to the SMFG India Credit website and visit our page on Two Wheeler loans to know more.
  • Click on the “Apply now” button on the page. 
  • From the list of loan products, select “Two Wheeler Loan”
  • Select whether you are a 'Salaried’ or a ‘Self-Employed’ individual
  • Fill in your details
  • Complete the form and click on “Submit”. A representative of SMFG India Credit will get in touch with you to discuss details.

The next set of steps are as follows:

  • Provide the representative with copies of required documents
  • After successful verification checks, SMFG India Credit will share a Loan Agreement Document with you. After receiving your acknowledgment and consent, the funds will be disbursed.  

This covers all the aspects of how to get a two wheeler loan approved online. However, if you have any questions or queries, you can reach out to SMFG India Credit by emailing us at   . Alternatively, you can call our toll free number 1800 103 6001 between 10:00 AM - 7:00 PM (all days except Sundays, 2nd & 4th Saturdays and public holidays). If you prefer the personal touch, then please feel free to walk into your nearest SMFG India Credit branch to know more.

Please note that SMFG India Credit offers two wheeler loans with zero down payments on select bikes only at select locations - it would be advisable to check by calling your nearest branch or our contact center before applying online.

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*Terms and Conditions apply. Loans are disbursed at the discretion of SMFG India Credit.