Well, yes, it is possible to have eye bags because of diabetes. As we know that there are many causes which can lead to eye bags under eyes. For example, certain foods, beverages and spices can cause an allergic reaction, and in turn, puffiness under the eyes, leading to eye bags under eyes. But on the other hand, according to some researches, diabetes can lead to eye bags too. Generally speaking, diabetes can also lead to some side effects. For example, people with this disease will have cataracts, and glaucoma. Also, it can lead to floaters in your eyes and eye bags that will make you feel annoying. so just be careful about it.