What Documents Are Required By Bajaj Auto Credit for a Two-wheeler Loan?

What Documents Are Required By Bajaj Auto Credit for a Two-wheeler Loan?

Purchasing a two-wheeler can significantly enhance your mobility, provide convenience, and save time. Bajaj Auto Credit Limited offers an attractive option for financing your two-wheeler purchase with its two-wheeler loan services. To ensure a smooth and hassle-free application process, knowing the two-wheeler loan documents is crucial. This article will guide you through the essential documents needed for a two-wheeler loan, helping you easily prepare and submit your application. So, let’s begin!

Accepted KYC Documents for Individual Customers

The first step in the loan application process is to provide Know Your Customer (KYC) documents. These documents verify your identity and residence, ensuring compliance with legal requirements. The accepted KYC documents for individual customers applying for a two-wheeler loan include:

  • Passport: A valid passport serves as proof of identity and address.

  • Driving Licence: A valid driving licence can also be used to verify identity and address.

  • Voter’s Identity Card: This card is another acceptable identity and address proof document.

  • Aadhaar Card: The Aadhaar card is widely accepted for KYC purposes, providing proof of identity and address.

  • Job Card issued by NREGA: This card can be used as proof of identity and address for individuals engaged in NREGA activities.

  • Letter issued by the National Population Register: This letter serves as an official document for verifying identity and address.

Deemed to be Officially Valid Documents (DOVD)

There are certain Bajaj Auto Credit Two-wheeler Loan Documents Required which are deemed to be officially valid (DOVD), which are listed below:

  • Utility Bills: This includes electricity, telephone, post-paid mobile phone, piped gas, and water bills. The utility bill should be in the customer’s name and not over 60 days old.

  • Property or Municipal Tax Receipt: This receipt can be used as proof of address.

  • Pension or Family Pension Payment Order: This document is acceptable for verifying address details.

  • Letter of Allotment of Accommodation: This is issued by employers such as State or central government departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions, and listed companies. Leave and licence agreements with such employers allotting official accommodation are also acceptable.

Additional Documents for Salaried Persons

Salaried individuals must provide additional documents to verify their employment and income status. These documents help Bajaj Auto Credit Limited assess your repayment capacity.


The required documents for salaried persons include:

  • Employment or Offer Letter: This letter confirms your employment status and details your position and salary.

  • Last Salary Slips (<45 Days): Recent salary slips, not older than 45 days, are required to verify your income.

  • Last Six Months Bank Statements and Latest Form 16: Bank statements from the last six months and the latest Form 16 provide a comprehensive view of your financial status and income stability.

    Must Read: A Comprehensive Guide to the Bajaj Auto Credit Two-Wheeler Loan Application Process

Additional Documents for Self-Employed Individuals

Self-employed individuals must also submit specific documents to demonstrate their business income and financial stability. The required documents for self-employed applicants include:

  • Last Three Years Income Tax Returns: These documents show your income and tax compliance over the past three years.

  • Last Six Months Bank Statements: Bank statements from the last six months help assess your business’s cash flow and financial health.

  • Sales Tax Returns: These returns provide information on your business revenue and sales tax payments.

  • TDS Certificate: The Tax Deducted at Source (TDS) certificate confirms the tax deductions on your income.

  • Company Details: Providing details about your business, such as registration documents and financial statements, helps evaluate its viability.

Conclusion

 

Applying for a two-wheeler loan from Bajaj Auto Credit Limited is straightforward if you have all the necessary documents in order. You can ensure a smooth and efficient loan approval process by preparing and submitting the required documents, including KYC, DOVD, and additional employment-specific paperwork. Whether you are a salaried individual or self-employed, understanding the specific document requirements will help you quickly avoid delays and secure your loan. With Bajaj Auto Credit Limited, financing your dream two-wheeler has never been easier.