Complete guide to Know how to buy bike on EMI

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Buying a bike on EMI (Equated Monthly Installment) is a popular financing option among many people who cannot afford to pay for a bike outright. EMI allows you to purchase the bike of your choice by making monthly payments over a specified period of time. In this guide, we will take you through the step-by-step process of buying a bike on EMI.

Step 1: Research

The first step in buying a bike online on EMI is to research the various financing options available in the market. You can start by visiting the websites of various banks, financial institutions, and bike dealerships to check the different schemes and interest rates. You should also compare the EMI amounts and tenure across different lenders to find the most suitable option for your needs.

Step 2: Check your eligibility

Once you have shortlisted a few financing options, the next step is to check your eligibility. You can do this by visiting the lender’s website and filling out the loan application form. You will need to provide some basic details such as your name, contact details, employment status, income, and other relevant information. The lender will then verify your details and let you know if you are eligible for the loan.

Step 3: Submit documents

If you are eligible for the loan, the next step is to submit the required documents to the lender. The documents typically include your ID proof, address proof, income proof, bank statements, and bike-related documents such as bike registration certificate, insurance policy, and invoice. You should ensure that all the documents are up-to-date and accurate to avoid any delays in the loan approval process.

Step 4: Loan approval

After submitting the documents, the lender will verify them and check your credit score. If everything is in order, the lender will approve the loan and send you an offer letter with the terms and conditions of the two wheeler loan. You should read the offer letter carefully and make sure that you understand the terms and conditions before signing the agreement.

Step 5: Purchase the bike

Once the loan is approved, you can proceed to purchase the bike of your choice from a dealership. You should negotiate the price of the bike with the dealer and make sure that you are getting the best deal. You can also ask the dealer for any additional benefits such as free accessories, insurance, or extended warranty.

Step 6: Make EMI payments

After purchasing the bike, you will need to start making the EMI payments as per the agreed schedule. You should make sure that you have sufficient funds in your bank account to avoid any penalties or charges for late payments. You should also keep track of your EMI payments and ensure that they are updated in your credit report.


Buying a bike on EMI is an excellent way to own the bike of your dreams without having to worry about the upfront cost. By following the above steps, you can ensure that you get the best financing option and the best deal on your bike purchase. However, you should also be aware of the terms and conditions of the loan and make sure that you can afford the EMI payments before signing the agreement.

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