Hello Prashant,
It will depend on how you want to configure your BIG-IP (one armed or multi-armed).
Based on your description it seems that you plugged two interfaces.
If these interfaces are in different subnets, then you will need to create two VLANs and create two Self IPs, one in each VLAN (multi-armed).
That's why you will need to create two Self IPs.
If these interfaces are in same subnet, then you don't need to create two VLANs only one will do the job.
You can use either one interface (and deconnect the other one) for this VLAN or create a "trunk" with both interfaces and assign a unique Self IP for this VLAN.
Hope it clarifies
Regards