Do I need to make a down payment or pay margin money on a used two-wheeler loan?

Yes, you may need to pay a small down payment, which is the difference between the vehicle’s on-road price and the loan amount. IDFC FIRST Bank offers up to 90% of the vehicle’s value, keeping the margin money minimal.

What are the touch points of contact for customers post disbursement of the loan?

You can reach us via any IDFC FIRST Bank branch or Loan Centre, our customer care number 1800 10 888, or through our chatbot in the mobile banking app.

Used Bike Loan – Finance Second Hand Two-Wheelers online

Q: Why apply for a used two-wheeler loan and how can I get one?

A used two-wheeler loan helps you purchase a pre-owned two-wheeler and repay in easy EMIs. You can apply online via our app or website. If eligible, get instant approval. Our sales officers at partner dealerships or showrooms will assist you with further steps.

Q: Do I need a guarantor?

No guarantor is required. However, a co-applicant is mandatory if the applicant is between 18–21 years.

Q: How long will it take to process the loan?

Loan decisions are made within 2 minutes. You can complete the application through our online website journey and receive instant approval, if eligible.

Q: How do I know if I am eligible for a pre-owned two-wheeler loan?

Eligibility is based on age and employment criteria. You should be 21+ years (or 18+ with a co-applicant), employed for at least 6 months, or self-employed for at least 2 years.

Q: Can I receive a pre-owned two-wheeler loan online?

Yes, you can apply online via our website or mobile app. If eligible, you’ll get instant approval. IDFC FIRST Bank offers competitive interest rates on pre-owned two-wheeler loans.

Q: Do I need to visit an IDFC FIRST Bank branch to get a pre-owned two-wheeler loan?

No. You can apply online or at any of our partner showrooms where our representatives will assist you. Instant approval is available through both channels.

Q: What is the pre-owned two-wheeler loan repayment process?

Repayment is done via EMIs, which include both principal and interest. Once repaid fully, you can apply for hypothecation removal and gain full ownership of the vehicle.

Q: What is hypothecation?

Hypothecation means pledging your vehicle to the lender until the loan is repaid. It’s marked on the vehicle's RC. Post repayment, you must get it removed to transfer or sell the vehicle.

Q: What are different modes of payment?

You can pay through the IDFC FIRST Bank Mobile App, UPI, Net Banking, cash at the branch, or via standing instructions/NACH.

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Used Two-Wheeler Loan & Refinance

Buy used two-wheelers with up to 90%* loan value
Cash loans up to 150%* of two-wheeler’s value
Digital, smooth, & quick process
Instant loan disbursal post KYC verification

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Used Two-Wheeler Loan EMI Calculator

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Used Bike Finance & Loan Against Two-Wheeler

Looking to buy a second hand bike or a loan against your existing two-wheeler? With our used bike loan and two-wheeler refinance solutions, you can get up to 90% financing for used bike purchases and up to 150% of your bike’s value through refinancing. Enjoy quick, paperless applications and fast disbursal post KYC.

Whether you're upgrading your ride or unlocking funds from your current bike, we make it simple, secure, and stress-free. Benefit from minimal documentation, transparent terms, and instant approvals. Use our EMI calculator to plan repayments easily and choose flexible tenures to suit your budget.

Apply now and enjoy a fully digital, seamless experience with IDFC FIRST Bank’s used two-wheeler and loan against bike offerings.

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Benefits of IDFC FIRST Bank Second Hand Two-Wheeler Loans & Refinance

High Loan-to-Value

Finance up to 90%* of your used bike’s current market value or get cash loans up to 150%* of existing bike’s worth.

Attractive Interest Rates

Enjoy competitive rates on used bike loans and refinance options, helping you keep EMIs affordable and manage your budget better.

Flexible Loan Tenure

Choose repayment terms that suit your needs with flexible tenures ranging from 6 to 48 months for used bikes and refinance loans.

Quick & Easy Processing

Experience a fast and hassle-free journey with instant approvals and minimal documentation post-KYC verification.

Convenient Loan Options

Whether buying a second-hand two-wheeler or refinancing your current one, apply online or through partner channels with ease.

No Guarantor Needed

Most borrowers don’t require a guarantor, making the entire loan or refinance process faster and simpler.

Check Your Pre Qualified Offer with us in 3 simple steps

Check your eligibility now using only your Mobile number and personal identifier.

Check Now

Eligibility Criteria & Required Documents

Who Can Apply?

Indian residents
Applicants aged 21 years and above
Co-applicants allowed for those aged between 18 to 21 years
You should have been in employment for at least 6 months or been running a business for at least 2 years.

Documentation Required

Passport-size photograph
Valid identity/address proof (Passport, Aadhaar card, Driver’s license, or Voter ID)
Completed loan application form
RC Book of the vehicle to be purchased

Apply for a Used Bike or a Refinance Loan in Easy Steps

Step 1

Visit the IDFC FIRST Bank website or mobile app

Step 2

Click on ‘Apply Now’ under the used two-wheeler loan section

Step 3

Fill in personal and income detail

Step 4

Check instant eligibility and get pre-approve

Step 5

A bank officer will assist you with next step

Our App Ratings

1.74 million+

Happy users

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Hear from our Used Two-Wheeler Customers

I've taken a used two-wheeler loan from IDFC FIRST BANK and believe it or not I got the vehicle delivered within two hours of my application getting approved. Even grocery shopping takes more time! The bank executive has made the process appear like a walk in the park.

Tanmaya Kumar Nayak

Would like to get everyone's attention for a while to let them know that I had a buttery smooth process and a great experience for my Superbike used two-wheeler loan. IDFC FIRST Bank and their officials were very co-operative for the whole process and the loan was sanctioned very quickly. I would thoroughly recommend everyone to go ahead with IDFC bank for any of the loans. Thank you.

Arun

I had a sudden expense and needed money quickly. I found IDFC FIRST’s refinance loan , and got the money without any hassle. The best part? I didn’t have to sell my bike - I could keep using it while repaying the loan. It really helped me when I needed it most

Karan Trivedi

I wanted to buy a used Activa but didn’t want to pay the full amount upfront. IDFC FIRST made it super easy with a loan that covered most of the cost. The process was all online and really smooth

Mohit Verma

Know about our minimal and transparent fees & charges

Fees and Charges

FREQUENTLY ASKED QUESTIONS

Why apply for a used two-wheeler loan and how can I get one?

A used two-wheeler loan helps you purchase a used two-wheeler of your choice and pay for it in equated monthly instalments (EMIs). Our loans are available for both salaried and self-employed individuals.

IDFC FIRST Bank provides a used two-wheeler loan on easy terms; all you have to do is fill in the application form through our mobile app or website and, if eligible, you can get an approval instantly. Our Sales Officer at empanelled dealerships will get in touch with you shortly for further processing. Alternatively, you can also walk into any of our partner pre- owned two-wheeler showrooms, where our representative will help you complete all required formalities, and inform you if you are eligible for a loan on the spot. Once your loan application is approved, you can ride out with a two-wheeler of your choice.

Do I need to make a down payment or pay margin money on used two-wheeler loan?

Yes, but be rest assured that at IDFC FIRST Bank, the down payment for a pre-owned two-wheeler loan is just a small amount you need to pay at the vehicle dealership, and is only the difference between on the on-road price of the two-wheeler amount and the loan sanctioned to you. Once you get a used two-wheeler loan online approval, you will be able to get up to 90% of the vehicle's cost as a loan at our best used two-wheeler loan interest rate. This ensures that the down payment or margin money is always a small component and will not come in the way of you becoming the owner of your favourite two-wheeler.

Do I need a guarantor?

No guarantor is required. A co-applicant is required if the applicant is between 18-21 years.

How long will it take to process the loan?

Decision on the customer loan will be within 2 minutes , also we have an online wesbite jounrey where customer can sel fulfil and get an approval instantly.

If I don’t have an account with IDFC FIRST Bank, can I still avail of Two Wheeler Loan?

Yes, you can still avail a two wheeler loan from IDFC FIRST Bank.

How do I know if I am eligible for a pre-owned two wheeler loan?

We carry out an assessment and inform you whether you meet our eligibility criteria so you can get access to our best two wheeler loan interest rate. You should ideally meet the following criteria: You should be above 21 years of age (18 years with co-applicant). You should have been in employment for at least 6 months or been running a business for at least 2 years.

Can I receive a pre-owned two wheeler loan online?

Yes, it is possible to obtain a pre-owned two wheeler loan online approval. We also offer one of the best pre-owned two wheeler loan interest rates in the industry. You can either visit our website here and fill in your details. We will check if you are eligible for our pre-owned two wheeler loan interest rate, and provide you with an approval instantly, if eligible.

Do I need to visit an IDFC FIRST Bank branch to get a pre-owned two wheeler loan?

You don't need to visit our branch to get access to our best pre-owned two wheeler loan interest rate. We are present at all major dealerships in cities across India and our representative present there will be glad to help you. Our decision on your application is processed instantly so that you can get possession of your vehicle without delays. You also have the option to apply for the loan through our website or mobile app wherein you get a pre-owned two wheeler loan online approval instantly. Our Sales Officer at empaneled dealerships will get in touch with you shortly post approval for further processing. Alternatively, you can also walk into any of our partner pre-owned two-wheeler showrooms

What is the pre-owned two wheeler loan repayment process?

You will need to repay your pre-owned two wheeler loan through Equated Monthly Instalments or EMIs, wherein you pay a fixed amount each month, until your loan is repaid. Every instalment of the loan that you repay will be partly made up of principal repayment and partly of interest payment. Once you complete your loan repayment, you can apply for the removal of hypothecation on your vehicle and you will gain complete ownership.

What is hypothecation?

Hypothecation is the process wherein you pledge the ownership of your vehicle to the lender. Once you take a vehicle loan, the hypothecation request is submitted to the regional transport officer with the loan details. Even though the vehicle's ownership remains with the lender, your name and address are mentioned in the vehicle's RC book. It means you will be legally liable for everything related to the vehicle. Once you have completely paid your loan off, you should get the hypothecation removed. You cannot sell your vehicle without removing it.

What are different modes of payment ?

You can make a payment online through the IDFC FIRST Bank Mobile App, UPI, Net Banking, Cash at the branch or through standing instructions/NACH

What are the touch points of contacts for customers post disbursement of loan?

You may reach us at IDFC FIRST Bank Branch or Loan Centre, Our customer service number 1800 10 888 or through our chatbot on the IDFC FIRST Bank Mobile Banking App

More FAQs

Two Wheeler Loan Blogs

How to apply for a two-wheeler loan: Online and offline

03 Jun 2025 | 5 mins read

Two-wheeler loan interest rates: How to get the best deal?

03 Jun 2025 | 5 mins read

New vs. used bike loan: Which one should you choose?

03 Jun 2025 | 5 mins read

How to plan your two-wheeler loan repayment smartly?

03 Jun 2025 | 5 mins read

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Used Two-Wheeler Loan & Refinance

Used Two-Wheeler Loan EMI Calculator

Used Two-Wheeler Loan EMI Calculator

Overview

Benefits

Eligibility

How to apply

Fees & Charges

FAQs

Blogs

Used Bike Finance & Loan Against Two-Wheeler

Explore All Options

Benefits of IDFC FIRST Bank Second Hand Two-Wheeler Loans & Refinance

High Loan-to-Value

Attractive Interest Rates

Flexible Loan Tenure

Quick & Easy Processing

Convenient Loan Options

No Guarantor Needed

Check Your Pre Qualified Offer with us in 3 simple steps

Eligibility Criteria & Required Documents

Who Can Apply?

Documentation Required

Apply for a Used Bike or a Refinance Loan in Easy Steps

Step 1

Step 2

Step 3

Step 4

Step 5

Our App Ratings

Hear from our Used Two-Wheeler Customers

Know about our minimal and transparent fees & charges

FREQUENTLY ASKED QUESTIONS

Why apply for a used two-wheeler loan and how can I get one?

Do I need to make a down payment or pay margin money on used two-wheeler loan?

Do I need a guarantor?

How long will it take to process the loan?

​​If I don’t have an account with IDFC FIRST Bank, can I still avail of Two Wheeler Loan?

How do I know if I am eligible for a pre-owned two wheeler loan?

Can I receive a pre-owned two wheeler loan online?

Do I need to visit an IDFC FIRST Bank branch to get a pre-owned two wheeler loan?

What is the pre-owned two wheeler loan repayment process?

What is hypothecation?

What are different modes of payment ?

What are the touch points of contacts for customers post disbursement of loan?

Two Wheeler Loan Blogs

How to apply for a two-wheeler loan: Online and offline

Two-wheeler loan interest rates: How to get the best deal?

New vs. used bike loan: Which one should you choose?

How to plan your two-wheeler loan repayment smartly?

If I don’t have an account with IDFC FIRST Bank, can I still avail of Two Wheeler Loan?