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How Can I Get a Bike Loan with a Bad Credit Score?


Today, two-wheelers have become a significant part of our daily transportation. According to statistics, over 70% of people in India own two-wheelers.

Several banks and institutions in India provide bike loans at competitive interest rates. Having a satisfactory credit score is necessary in order to get such attractive interest rates. However, even if you don't have a good bike loan credit score, you can still obtain a loan. 

In this blog, we will guide you on how to get a bike loan approval with a bad credit score.

Key Highlights

  • Credit score is one of the most crucial factors for securing a bike loan.
  • A bad bike loan credit score may occur due to a delay in payment, multiple credit entries at once, or if they have a high amount of unsecured loans.
  • A credit score of 750 or above is decent enough to secure a bike loan.
  • A person with a bad credit score may still be able to obtain a bike loan by increasing the down payment, arranging a co-signer or negotiating with the lender.

Reasons Why your Credit Score may be Low

A Credit score is a three-digit number ranging from 300 to 900 given to every credit seeker. This score is issued by various trustworthy credit bureaus such as TransUnion CIBIL, Equifax, Experian, etc.

The following are probable causes of a low credit score:

Poor Repayment History

Delay in paying the instalment or minimum amount in case of a credit card can lower credit score. If you miss a payment on your bike loan even once and default even once, it can highly impact your credit score. And being a regular defaulter will lead to a bad credit score, which will affect your bike loan eligibility.

Multiple Credit Entries

When someone applies for multiple loans or credit cards all at once, it shows that they might not have enough money to pay them back. This can eventually lead to having a bad credit score, which makes it harder to borrow money in the future. 

Huge Amount of Unsecured Loans

It is a sign of poor financial management when a person has a large amount of credit card or personal loan debt not backed by collateral. This can lead to poor credit scores, which makes it difficult for them to borrow money or get approved for loans in the future.

Impact of a Low Credit Score on Two-Wheeler Loan

A credit score is one of the most important factors in bike loan assessment. If you have a bike loan credit score of 750 or above, you can certainly secure a bike loan

Credit scoreChances of approval of Bike Loan
More than 750High
700 - 750Good
650 - 600Based on additional factors
Less than 600Very low

As you can see, if you are going to take out a bike loan, it is necessary to maintain a decent credit score.

However, if you are not able to manage a good credit score, there are ways to secure a bike loan with a bad credit score also.

Ways to Get a Bike Loan with a Bad Credit Score

  • Increase the Down Payment

Paying a higher amount initially can enhance your chances of getting a bike loan with bad credit. This will help secure a bike loan and reduce the overall loan amount.

  • Get a Co-signer

If you have a low bike loan credit score, getting yourself a co-signer can improve your chances of securing a bike loan. Lenders consider the co-signer’s creditworthiness when assessing eligibility. Thus, you can apply for a bike loan with a bad credit score.

  • Negotiate with the Lending Institution

If you have been facing genuine financial issues leading to a bad bike loan credit score, make sure to inform about this to the loan provider. If, by any chance, you find yourself unable to secure a bike loan, this option could potentially serve as your last resort.

Bottom Line

To obtain a bike loan, it is typically expected that applicants maintain a favourable credit score. A good credit score enables borrowers to secure competitive interest rates, ultimately contributing to their overall financial well-being. Nevertheless, having a lower credit score for a bike loan does not necessarily result in an automatic rejection.

With Shriram Two-Wheeler Loan, one can explore the enticing opportunity of securing a loan at a starting interest rate as low as 11.5%* p.a., accompanied by swift disbursals and minimal paperwork. Apply Now


1. What is the minimum salary for a bike loan?

It is suggested to have an average minimum salary of ₹12,500/- per month for a salaried person and an average income of ₹ 20,000/- per month for a self-employed person.

2. How can I check my bike loan eligibility?

The eligibility criteria include:

  • Age Limit: 21 – 59 years
  • Income of the applicant should meet the given criteria of the lender
  • Work experience of at least one year
  • A good credit score

3. How to get a bike loan without CIBIL score?

Applicants without credit scores or individuals with low credit scores may be able to apply for a bike loan with co-signers or guarantors. Because it is mandatory to have a CIBIL Score to secure a bike loan at the time of application.

4. How much CIBIL score is required to get a bike loan?

Ideally, a CIBIL score of 750 or above is recommended to get a bike loan at competitive interest rates.

5. Can a student get a bike loan?

Yes, it is possible for a student to get a dream bike, but with a co-signer who has a decent bike loan credit score.

Get a two wheeler loan at low interest rates