What Lenders Look for in a Bike Loan Application
Credit Score (CIBIL):
Income Stability:
Regular monthly income, whether through salary or business, reassures the lender of timely repayment.
Job Profile:
Applicants with stable jobs in reputed companies or government sectors have higher approval chances.
Debt-to-Income Ratio:
If your current EMIs consume more than 40–50% of your monthly income, lenders may see you as a high-risk borrower.
KYC Compliance:
Incomplete or mismatched documents like ID proof, address proof, or photographs often result in automatic rejection.
Banking Behavior:
Irregular cash flow, bounced cheques, or frequent overdrafts in your account can signal financial stress and reduce approval chances.