Two-wheelers are popular in India mainly because of their convenience. Bikes are easy to maneuver in heavy traffic ensuring you reach your destination on time. Furthermore, they are easy to park, especially in limited spaces. Moreover, you may travel comfortably without the trouble of using crowded public transportation facilities like trains and buses.
Purchasing a two-wheeler even if you do not have the entire amount is now easy. Banks and non-banking financial companies (NBFCs) provide loans at competitive interest rates. Before understanding these loans, here is a list of top five value-for-money bikes in the country.
- Honda CB Shine
The bike comes with a 124.7 CC four-stroke engine. The CB Shine offers a mileage of about 67 kilometers per liter (kmpl) with a ground clearance of 157 mm.
- Bajaj Discover 125
The 124.6 CC single cylinder engine bike gives a mileage of over 80 kmpl. This model provides a ground clearance of 165 mm.
- Hero Super Splendor
The bike gives a ground clearance of 150 mm and mileage of 73 kmpl. It comes with a 124.7 CC single cylinder four-stroke providing high torque and power.
- Hero Glamour
The bike offers a mileage of 65 kmpl and is available in two variants; Kick and Self. The 124.7 CC four-stroke single cylinder engine bike provides a ground clearance of 150 mm.
- Hero Ignitor
This bike is available with 124.7 CC four-stroke single cylinder engine. It provides 175 mm ground clearance and 55 kmpl mileage.
You may purchase the bike of your dreams with a two-wheeler loan. The entire process to avail of the loan is quick and simple. You must submit an identity, residence and income proof along with your photo and application form. The lender will process your application and sanction the bike loan within a few days.
Lenders often sanction up to 95% of the on-road price of the bike. Moreover, you may repay the loan over a period of five years. Contrary to belief, atwo-wheeler loan interest rate is not high.
The loan amount is repaid in Equated Monthly Installments (EMIs), which are calculated on the basis of the borrowed amount, repayment tenure, and bike loan interest rate. This ensures you do not face any financial difficulty while repaying the borrowed amount.
You may analyze the different options available from various lenders online. Comparing the interest rate, processing fees, loan inclusions, as well as other terms and conditions of various lenders will help you make an informed decision while getting a two wheeler loan. You may, therefore, purchase your dream bike on EMI without burning a hole in your pocket.