The minimum monthly income required to be eligible for a two-wheeler loan is ₹10,000 to ₹15,000, depending on the bank or NBFC. Some lenders set ₹10,000 as the minimum for salaried applicants, while others may require at least ₹12,000–₹15,000 for self-employed individuals.

Buying a two-wheeler on loan has become one of the most convenient ways to own a bike or scooter without paying the full amount upfront. However, before approving the loan, banks and NBFCs check your repayment capacity, and monthly income is the most important eligibility factor.

1. Why Minimum Income is Required for a 2-Wheeler Loan?

Lenders assess income to ensure that the borrower can comfortably pay EMIs without financial strain. A stable and sufficient monthly income assures lenders of lower default risk.

  • For Salaried Individuals: Income proof like salary slips, bank statements, or Form 16 is required.

  • For Self-Employed Individuals: ITR, business income proof, and bank statements are considered.

2. Minimum Monthly Income Criteria by Lenders

Although it varies from bank to bank, here is the general range:

Applicant Type Minimum Monthly Income Required Notes
Salaried Employee ₹10,000 – ₹12,000 Must have at least 6–12 months of stable job history.
Self-Employed Person ₹12,000 – ₹15,000 Must show consistent business income for at least 1 year.

Some banks in metro cities may set slightly higher income requirements due to higher living costs.

3. Factors That Influence Income Eligibility

Several other factors may affect whether your declared income is sufficient for loan approval:

  • Credit Score: Higher scores (750+) can get you approval even at lower income.

  • Loan Amount: Larger loan values may require higher income.

  • Employer Profile: Working with a reputed company improves eligibility.

  • Existing EMIs: If you already have loans, your required income threshold may increase.

4. Example: How EMI is Calculated for a 2-Wheeler Loan

Suppose you earn ₹15,000 per month and want to buy a bike worth ₹80,000 with 20% down payment:

  • Loan Amount = ₹64,000

  • Tenure = 36 months

  • Interest Rate = 12% p.a.

  • Approx. EMI = ₹2,130

With ₹15,000 income, lenders expect your EMI-to-Income ratio to stay within 40–50%, meaning EMIs should not exceed ₹6,000–₹7,500.

5. Tips to Get a 2-Wheeler Loan on Low Income

  • Apply with a co-applicant to improve eligibility.

  • Maintain a good credit score by paying bills on time.

  • Opt for a longer tenure to reduce EMI burden.

  • Make a higher down payment to borrow less.

Conclusion

To be eligible for a two-wheeler loan, you generally need a minimum monthly income of ₹10,000 to ₹15,000. The exact figure depends on the lender, your job type, and overall financial profile. If your income is slightly below, you can still improve your chances by applying with a co-applicant or choosing a smaller loan amount.