Can NRIs get a two-wheeler loan without a credit history in India?

Yes, Non-Resident Indians (NRIs) can potentially obtain a two-wheeler loan without having a credit history in India. While some financial institutions may not require an Indian credit score, the absence of one might influence the terms offered.

Some important considerations include:

• Alternative Credit Evaluation: Financial institutions often look at the applicant's creditworthiness through other means, such as international credit scores or employment history. A stable income and proof of employment abroad may be important factors in assessing the application.
• Co-Applicant: In certain situations, a co-applicant residing in India with a solid credit history might be necessary to support the loan application. This can help mitigate the lack of an Indian credit score.
• Required Documents: Essential documents typically include proof of income, employment details, foreign bank statements, and identity verification. These help in assessing the applicant's ability to repay the loan.
• Loan Terms: The absence of an Indian credit history may affect the interest rate or other terms, as lenders may consider the risk factor higher. However, financial institutions might offer customised solutions depending on the applicant's profile and other supporting documents.

Note: The eligibility for a two-wheeler loan and the terms offered depend on the financial institution’s policies and may vary based on individual circumstances.