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Tata Capital > Blog > Loan for Vehicle > Love Super Bikes? You can Now Own Them!

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Love Super Bikes? You can Now Own Them!

Love Super Bikes? You can Now Own Them!

A superbike such as the Ducati Diavel 1260 motorbike produces 159 bhp of power and 129 Nm of torque with its 1262 cc V-twin engine that is liquid-cooled. Its bi-directional quickshifter equipped six-speed transmission unit responds instantaneously to any gear shifts. For a normal person, these are just some numbers that hold no meaning. But for a bike lover, this is what a great bike sounds like.

If you are among those who love superbikes, then you know that In India, superbikes carry a price tag anywhere starting from Rs 10 Lakhs and can go as high as Rs 30 Lakhs. And if you want to buy one, you may have to sacrifice some of your other dreams.

Well, those days are gone, when you could just dream about owning one. You now have the option of availing a two-wheeler loan. If you are wondering who disburses such two-wheeler loans? Well, financial institutions like Tata Capital do. These bike loans are like similar to personal loans, but for a two-wheeler.

Here is what it entails and how you can apply:

Maximum loan eligibility: You can avail two-wheeler loans for superbikes up to a maximum of Rs 40 L subject to your proof of income to repay the high loan amount. You can get up to 100% financing as well. You can click here to know how.

Tenure: You can avail the high-end bike loans for a maximum period of 60 months.

Eligibility: You can opt for two-wheeler loans if you fall within the 21 to 60 year age bracket. You can either be a salaried individual or a self-employed person with a minimum of a 1-year track record of employment or business. You need to prove your residential status for at least one year and have a credit score of 750+ to obtain the best terms for your bike loans. You can use this checklist to if find out if you are eligible for a two wheeler loan.

Documents: You will need to submit standard KYC documents that prove your identity, address, employment, business or profession, and income. You will also need to submit bank statements, ITRs, salary slips, balance sheet and P&L statement pertaining to business or profession and trade licenses. 

Interest rate and EMI: The interest rate usually starts at 10.75% per annum. As for your EMI, before you avail the bike loan, check as to how much your monthly EMI would come to. Check out Tata Capital’s EMI Calculator which will give you a fair idea about this.

Repayment: You can choose from several EMI options that are affordable and convenient for you. Usually, you have three options – fixed EMI, step up flexi EMI and step down flexi EMI.

Now that you know how to avail a two wheeler loan, why not apply online for two wheeler loan? It is a simple process and once your loan request is approved, your loan amount will be disbursed to you immediately.

The next time you sight an Aprilia RSV4, BMW S1000 RR, Honda CBR Fireblade, Kawasaki Ninja H2, Suzuki Hayabusa or Yamaha YZF – R1 remember that you, too, can be an owner and ride a superbike of your own!