Check your bike loan eligibility from 24+ banks. Compare rates from 10.5% p.a. Free online calculator.
Bike Loan eligibility depends on your monthly income, existing obligations, credit score, age, and employment type. Banks use FOIR (Fixed Obligation to Income Ratio) of around 55% to determine your maximum EMI capacity.
| Bank | Rate | Max Amount | Eligible (50K Income) | Eligible (1L Income) | Processing Fee |
|---|---|---|---|---|---|
| Hero FinCorp | 10.50 - 18.00% | ₹5 L | ₹9,23,008 | ₹18,46,015 | Up to 3% of loan amount |
| Bank of Baroda | 11.70 - 14.30% | ₹3 L | ₹8,61,777 | ₹17,23,554 | ₹1,000 + GST |
| Indian Bank | 11.80 - 14.00% | ₹3 L | ₹8,60,537 | ₹17,21,073 | 0.50% + GST |
| Canara Bank | 11.90 - 14.00% | ₹3 L | ₹8,59,299 | ₹17,18,598 | 0.50% + GST |
| PNB | 12.00 - 14.65% | ₹3 L | ₹8,58,064 | ₹17,16,128 | 0.75% + GST |
| South Indian Bank | 12.00 - 15.00% | ₹2 L | ₹8,27,956 | ₹16,55,913 | 0.50% + GST |
| Tata Capital | 12.00 - 20.00% | ₹5 L | ₹9,03,225 | ₹18,06,450 | 1.50% of loan amount |
| L&T Finance | 12.00 - 18.00% | ₹4 L | ₹9,03,225 | ₹18,06,450 | 2% of loan amount |
| Union Bank | 12.20 - 14.50% | ₹3 L | ₹8,55,601 | ₹17,11,202 | 0.50% + GST |
| Bank of India | 12.30 - 14.80% | ₹2 L | ₹8,54,373 | ₹17,08,747 | 0.50% + GST |
| SBI | 12.50 - 15.64% | ₹3 L | ₹8,51,926 | ₹17,03,851 | 1% of loan amount + GST |
| IDBI Bank | 12.50 - 15.00% | ₹3 L | ₹8,51,926 | ₹17,03,851 | 0.50% + GST |
| Central Bank | 12.50 - 15.00% | ₹2 L | ₹8,51,926 | ₹17,03,851 | 0.50% + GST |
| Federal Bank | 12.50 - 16.00% | ₹3 L | ₹8,22,033 | ₹16,44,067 | 1% + GST |
| Karur Vysya Bank | 12.50 - 15.50% | ₹2 L | ₹8,22,033 | ₹16,44,067 | 0.50% + GST |
| HDFC Bank | 13.00 - 17.50% | ₹5 L | ₹8,16,170 | ₹16,32,340 | 2.50% of loan amount |
| IDFC First Bank | 13.00 - 18.00% | ₹4 L | ₹8,16,170 | ₹16,32,340 | 2% of loan amount |
| Kotak Mahindra Bank | 13.50 - 16.50% | ₹4 L | ₹8,10,366 | ₹16,20,732 | 1% of loan amount |
| ICICI Bank | 14.00 - 18.00% | ₹4 L | ₹8,04,620 | ₹16,09,240 | 2% of loan amount |
| IndusInd Bank | 14.00 - 18.00% | ₹3 L | ₹8,04,620 | ₹16,09,240 | 1.50% of loan amount |
| Bajaj Finserv | 14.00 - 22.00% | ₹4 L | ₹8,77,767 | ₹17,55,534 | Up to 3% |
| Mahindra Finance | 14.00 - 22.00% | ₹3 L | ₹8,77,767 | ₹17,55,534 | 2% of loan amount |
| Axis Bank | 14.50 - 18.00% | ₹4 L | ₹7,98,931 | ₹15,97,863 | 1.50% of loan amount |
| Yes Bank | 14.50 - 18.00% | ₹3 L | ₹7,98,931 | ₹15,97,863 | 1.50% |
Bike Loan eligibility is the maximum loan amount a bank will approve for you based on your income, existing obligations, credit score, age, and employment type. Banks use a metric called FOIR (Fixed Obligation to Income Ratio) to determine how much EMI you can afford.
Hero FinCorp currently offers the lowest bike loan interest rate starting from 10.5% p.a. in 2026. Rates vary based on your credit score and profile.
Eligibility is calculated using the FOIR method. Banks typically allow 55% of your gross monthly income for all EMI payments. After deducting existing EMIs, the remaining amount determines your maximum new EMI, which is then converted to the maximum loan amount using the interest rate and tenure.
Common documents include PAN Card, Aadhaar Card, Salary Slips (last 3 months), Bank Statements (last 3 months), and more. Exact requirements vary by bank and your employment type.
You can increase your eligibility by: clearing existing loans, adding a co-applicant, improving your credit score to 750+, choosing a longer tenure, and showing higher income with proper documentation.