In today's fast-paced world, owning a two-wheeler has become more of a necessity than a luxury. Whether it's for daily commutes or quick errands, two-wheelers provide a convenient and cost-effective mode of transportation. However, not everyone can afford to buy a two-wheeler outright. This is where two wheeler loans come into play, making it easier for people to purchase their desired vehicle without straining their finances. But what exactly influences the eligibility for a two wheeler loan? Let's explore how income and employment play a crucial role in this process.

Understanding Two Wheeler Finance

Two wheeler finance refers to the financial assistance provided by banks and non-banking financial companies (NBFCs) to help individuals purchase a motorcycle or scooter. These loans cover a significant portion of the vehicle's cost, allowing the buyer to pay it off in easy monthly instalments. The eligibility criteria for a two wheeler loan can vary from one lender to another, but two key factors remain constant: income and employment.