NBFCs like Muthoot Capital Services Ltd. determine bike loan eligibility based on the following:
1) The applicant’s nature of employment- whether he/she is salaried or self-employed
2) The applicant’s age- he/she should be in the age group of 18 to 65 years of age from the date of applying for the loan, until the time of complete repayment.
3) The applicant’s annual income/profit: Rs. 96,000 per annum for salaried and Rs. 1,20,000 per annum for self-employed individuals.