Bikes are known to be expensive; superbikes are even more expensive. Buying a super bike without taking a loan is not practical and financially possible for everyone. The starting price for a superbike is 5, 25, 00 going upto 20, 53,000; quite high isn’t it? Well some top bank lenders offer superbike loans but all of them have a different policy and criteria; so you need to have a look at the schemes of all the banks offering superbike loans before making a choice.
The various banks schemes
- The SBI loan scheme- The State Bank of India offers a superbike loan on those superbikes that have an engine with the capacity of 500cc and more. The maximum amount of repayment for such a loan if 5 years. A person who is 21 years old or more is eligible to apply for this loan.
- The HDFC loan scheme- Unlike the state bank of India, HDFC offers 85% assistance for purchasing a superbike and they also offer a scheme that allows a person to purchase accessories for upto 2 lakh. A salaried person or a self employed person can apply for this loan.
- ICIC loan scheme- It provides 100% finance on the road-prove of the bike, along with flexible repayment tenure. It also offers an EMI scheme and in case you are already a customer at ICICI then you can get preapproved for the same.
- AXIS bank- At axis bank you can get 85% on the road price and additional 8% on the accessories. The tenure for the repayment is 12 months, which can extend to 48 months.
- Yes bank- It also offers finance on 85% of the road price and the tenure for paying back the loan of 60 months, while one can also pay it back in a year.
Before applying for a superbike loan, compare the schemes offered by different banks.
superbike financed from the right lender: