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    About Bike Loans:

    Whether you are buying an entry level Scooty Pep+, or a Royal Enfield Bullet with a 350cc engine, you would probably have to opt for a Bike loan. Some of the luckier people who do have the finances to buy it without loan also might consider two wheeler loans because they are easy to have approved and have monthly Installments that are overwhelming. For the rest of the majority of the prospective two wheeler users loans are perhaps the perfect idea.

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    Also, considering that a lot of families are going nuclear bikes are more preferable and economic. The other observation that has been noticed is the rise in the youth demographic in India (18 to 25 years), forming a majority of motorcycle buyers in India. To make this seem like a cake walk, we give you the various aspects of a two wheeler loans, starting from industry specifics of the vehicle in India to the requisites and frequently asked questions about this vehicle finance product.

    Two Wheeler Industry in India (as of. August, 2016)

    The two wheeler industry in India is said to be one of the largest of its kind in the World. Whether it is due to the fact that bikes are the cheapest form of personal transport or the large urban middle income demographic in the country, this motor industry is booming. However, entry level two wheelers, which starts from INR 40,000 in India has slown down by some margins the overall industry is on the rise. The partial reason for the growth is due to fact that, today two wheeler loans are easily accessible to Indians, as numerous banks are offering, a variety of options.

    A few more things that one would be interested to know when buying a two wheeler include:

    1. Indian Two wheeler Heavy Weights Domestically Also in the International Market: Hero MotoCorp had a whopping market share of over 41% from Y-2013 to Y-2014 and still holds the maximum share in the two wheeler industry in India. Some of their popular foreign markets include Africa and Sri Lanka.
    2. Future Potential for Industry: In August 2016, Mahindra Group announced invested a lumpsum on their two wheeler division of INR 500 crores. This is despite running at a loss, in the industry despite of ad campaigns and other investments in their 7 years of existence. It shows how the company does still see potential in this sector and is willing to invest. Currently, they have an ambitious target of selling 30,000 to 35,000 units each year.
    3. Foreign Investments in India: There are also foreign investors who do find India, one of the most lucrative two wheeler market. For example, US-based UM Motorcycles launched their cruiser range of motorcycles in association with Lohia Auto in India. This is not all. Suzuki has also has set a target of selling at least 10,000 units of Gixxers in this fiscal year alone.
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    Why Opt For a Bike Loan?

    Considering the rising number of private cars in the urban regions in India, one might think that, rural area transportation may have similar trends. The truth is that the majority of the rural demographic can afford a two wheeler, mainly due to the availability of loans to buy the same. But the convenience of bikes are not the only factors that make these loans a popular finance product in India:

    • Two wheelers have a better resale value in the long run against cars and hence once your loan repayments are made, you can think of a new vehicle already.
    • A lot of people in India have the money to buy an entry-level motorcycle or scooter at one-go. But this would cause much distress, in terms of finances for the family. Also a part of the lump sum that they have can be used to save or even invest in other investment products such as mutual funds, fixed deposits or even buy Two Wheeler Insurance. In other words, it helps to ease of the burden of buying a vehicle in a single month.
    • A lot of people cannot afford to buy a vehicle unless allowed to pay installments and the majority of buyers fall in this demographic. Also, they have much lower maintenance costs than four-wheelers. The mileage or fuel consumption is also better making it a more convenient buy.
    • The Indian loan market has a lot of options in the form of banks to choose from with competitive interest rates and even throwing in combos for loans and insurance packages taken together. Some even come with the advantage of paying through post-dated cheques.

    Types of TWO Wheeler Loan:

    There are 2 types of Bike loans available in India, based on the security of the loan:

    1. Secured Bike loans: You generally take these loans against a security or collateral that may be an asset, such as home, bonds, lands, etc. While these loans are easily available and have comparatively lower interest rates than unsecured loans, they also carry the risk of losing your asset, in case you are unable to successfully pay off your loan amount.
    2. Unsecured Bike loans: At first this may seem quite lucrative, consider they require no collaterals to be declared for loan sanction, but it eventually makes pay a much higher price for vehicle than you should have paid, if you had taken a secured loan. But first time buyers. Sometimes a secured loan is not a possibility. Hence, this type of loans is the only option that remains.

    However, if one has the liberty, they should choose their loan type based on their priorities, both current and long-term.

    How to avail two wheeler loans?

    A two wheeler loan can be availed in two different ways:

    • Online: In times like these, it is convenient for people to get their work done online. Thus, availing a two wheeler loan online is very mush possible. The process of getting one online is fast and hassle free. As a borrower, you will be able to draw a comparison between the various loans available to you. Knowing the features, benefits and terms of the loan you want to avail is of utmost importance. You can also make use of the EMI calculator online to compute the monthly instalments for the bike or scooter you wish to purchase. You can change the tenure and amount on the EMI calculator which makes the tool pretty dynamic.
    • Offline: The offline method suggests that you need to go to the bank or a lender who will provide you the money you need. You must complete the loan formalities with the concerned lender before the amount is disbursed. With the offline loan application method, you will not be able to enjoy the perks of an EMI calculator. Comparing the perks of different loan offers will also be difficult offline.

    Features of 2 Wheeler Loans:

    There are numerous reasons and benefits of a two wheeler loan, but there are some that stand out. It has mostly to do directly with the financing aspect of it but still is highly valuable to most customers, if they are aware of it. Read on to know the major features that you should look out for in your choice of two wheeler loan:

    1. Margin of Finance: On an average, most 2 wheeler loans will pay for up to 90% margin of finance. This means that you can make a loan downpayment of only 10%, which is measely considering the prices of an average tw-wheeler.
    2. Loan Partnerships with Dealers: Auto-financiers often have special deals with with motorcycle and scooter dealerships to provide convenient loans, which often prove to be cheaper than the ones, if opted separately. Also, as a buyer, you can negotiate freebies and added benefits if the bike or scooter dealership offers you the same.
    3. Relieving Financial Burden: The most beneficial feature is the fact that it helps spread the costs into a yearly loan that will last, based on your requirements, never to be responsible to give you a tough time when it comes to financing it. Some companies also take post-dated cheques for loan repayments, which is also convenient for many.
    4. Annual Income Leverage: Banks often offer these loans to people who are earning as low as INR 50,000 in a year. This means that you do not even have to be in the taxable bracket to get these loans and at the same time you can still afford it. Since, the loan repayment tenure can go upto 4 years, you monthly installments will not affect your income as such as long as you have that in your mind, in your monthly budget.
    5. No prepayment or early foreclosure charges: Most banks do not charge any prepayment charges if you are able to pay up your loaned amount before your tenure ends. This is often suitable for some, because it helps to clear off your debts faster, if you can. At the same time, banks know that two wheeler loans do not have very high loan amounts and hence charge nominally and sometimes do not charge anything at all.
    6. Other Costs Covered: These loans often cover the costs of accessories, insurance and even registration. This means that you are getting finance for not only the vehicle but the essential expenses on the same. It is a good idea to add security accessories and make the most of this opportunity, since the premiums also are made lower if you have extra security and safety features in the vehicle.
    7. Flexibility in loan Tenure: Loans provide borrowers with ample time to pay back for the 2 wheeler loan with tenures that range between 12 to 48 months. A longer tenure helps to manage an individual's monthly fiance better and at the same time avoid defaulting payments.
    8. Credit Score: As a first time vehicle buyer or opting for a loan for the first time, motorcycle loans are a great idea to open your file for your credit score since not only will this be a fast loan to repay but will not affect your credit score with lower chances of defaulting the loan repayments.

    Eligibility Criteria for Two Wheeler Loans:

    Banks will not give you loans for your vehicle, on your face value. Infact today the banks are extremely careful about making sure that their customers are able to pay up their loans, considering the rising debt rate among youngsters, in India. So, they have a general set of eligibility criteria set, among which the following are the most important to cover:

    1. Age: Generally, for two wheeler loans, the banks allow a ripe age of 18 years as the minimum acceptable age for a loan application in India. This is not only because of the factor of reyment capacity, but also the fact that many students use bikes as their form of commute to their institute or college. Some banks may require the applicant to be at least 21 years, too. The maximum age for loan application is generally around 65 years for most banks.
    2. Employment: This is is absolutely essential because banks sanction your loan application based on the fact that you are a salaried individual or at least self-employed, involved in some sort of business or have a source of regular income.
    3. Employment Tenure: Now there are banks that offer special loans to students who are not employed yet, with a system that works similar to an education loan, but if you are applying as non-student, some banks may want to check your stability of income by requiring you to have worked with your current employer for at least 6 months.
    4. Minimum income: The minimum income requirement is really low for 2 wheeler loans and if you are living in urban areas and salaried, it would not need much trouble to cover for. However, it is always a good idea to check for the same because often the minimum income may be based on the loan amount.
    5. Residential Requisite: Banks often require that an individual stay in a singular home as sign of stability in address for loan sanction because to avoid loan defaulters who change their residence often.
    6. Permanent Numbers: Some banks may require to provide a permanent land line number, where they can get in touch with you, whether it is your residence or your office landline.
    7. Credit Score and Ratings: For those who are just starting off their financial portfolio, this loan is a very good path to start with. However, if you already have a credit history, make sure it is good. The most accepted credit score, by banks, that is considered is CIBIL score. This should be be at least 750 to give the loan company, the confidence to help you seek finance for the vehicle. Also, most unsecured loans require you to have a positive CIBIL score, which is not hard to get as long as your bill payments are made and you have a healthy credit history.
    8. Documentation: To prove the above, you are required to furnish some documents, which are comparatively lower for two wheelers, when compared with other loan products. Read the next section to know more.
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    Documentation Required for Bike Loan Applications:

    It is essential to remember that with every eligibility criterion that needs to be covered, comes the requirement to prove it to the bank through documentation. Based on these, the following are the most basic documentations that may be required to be submitted along with your loan application to ensure positive results on the loan loan approval:

    • Photo Identity Proof: passport size photographs, at least 2 to 6 are recommended to be kept handy for your loan application.
    • ID Proof: This not only helps to prove your age, but also works as an alternate document as your address proof. Whatever, you submit as the address proof will be compared with the ID proof. This may be any of the following documents:
      • Passport
      • Driving License
      • Voter ID card
      • Aadhar Card
      • PAN Card
    • Address Proof: There are two types of address proof that you may need to submit based on your current resident. The first one is your permanent address proof and the second is your current address proof. While another ID proof other than PAN Card can be your permanent address proof, your temporary address proof should be any bills that you pay against your name. Some banks ask for multiple bills as current address proof.
    • Employment Proof: There are multiple documents that may be required for this. Generally, it includes your employment or offer letter, salary slips and bank's statements. For people who are self-employed will have to furnish bank statements and their source of income. Also, the latest Form 16 will be required to be furnished.

    Note, that you will need both the the originals and the copies, for loan applications, hence keep both at an arm's distance.

    Two Wheeler Loan Interest Rates:

    Two wheeler interest rates are variable, based on the bank as well as a range of other factors such as your chosen tenure, your credit report and even the vehicle you have chosen to buy. The rates generally vary between a minimum of 11% to 18.25% (as of August, 2016). However, it is essential to understand that sometimes an 11% interest rate may be deceiving with a very high processing fee, which we will come too later. Hence, do not be bought instantly by just the interest rate figure appealing to you. It is a must to consider the other charges and fees levied for a loan for your two wheeler loan as well.

    Fees and Charges Applicable on Two wheeler Loans:

    People when opting for a two wheeler loan have the major requirement of ensuring that they do not pay a lot more than the actual price of the product in the end. To avoid this, people generally consider interest rates. However, low interest rates may not be sufficient to note. There are other factors that need a close consideration which includes:

    • Processing Fee: Processing fees are charged for processing the request for the loan and is mandatory in most banks. They are also, generally calculated in percentages of the total loan amount. It is also essential to note that this fees is non-refundable under any given situation. The amount charged for it varies from bank to bank but ignoring this number often leads to people paying excess for their loan.
    • Prepayment Fees: This is is charged under the circumstance where people are able to pay the repayments earlier than due and sometimes even pay the remaining loan amount earlier. For bike loans this charge is generally very low and sometimes even non-existent.
    • Late-payment Fees: As the name suggests, this fees can be easily avoided, with a little bit of planning. The borrower is generally charged this when crossing the due date for loan repayment, generally is a genuine result of financial crunch or lack of funds. However, banks charge a fee regardless the circumstances.
    • Charges for Conversion: If you wish to change your two wheeler loan from a floating rate calculation to a fixed rate or vice versa, this fees is charged. This is basically a charge for switching, based on your requirements. In other words, it is a flexibility fee.
    • Copy of an Account Statement: Sometimes people may require a statement for their current statement for the loan. While most banks do not charge for getting you a copy of the same, there might be a few banks which may levy a nominal charge for a hard copy of the same.
    • Administrative Fee: This is often a very deceiving name for this fee because it is often confused with processing charges. This charge takes care of the administrative cost to the bank for processing your loan, which are not part of the processing fees.

    Online Application for Bike Loans:

    You do not have to run to the bank for weeks to get a loan sanctioned anymore. Instead have soft copies of all the documents required stored in your system. Go online, compare your options, choose one that offers you to apply online and Razmataz!!! Your loan application is submitted with soft copies of all your documents in very little time. While some banks might even send you a representative to pick up your documents incase you do not have soft copies, some banks take little time for processing a bike finance.

    Once the loan is sanctioned, you will receive the amount and you are ready to buy your new vehicle. Sounds almost as easy as getting a dealership loan offer? Sometimes, it is actually easier to deal with than a showroom loan plan. The best part is that you are able to go through all the details of the loan terms and conditions so that you are aware of the commitment you are getting into when buying a two wheeler.

    Tops Banks Offering Motorcycle Loans in India:

    While this may seem like a cake walk for most, a lot of people end up paying more than they can chew for a two wheeler in India, if they do not take the adequate loan for the purpose. Banks offer you a lot of benefits and really low interest rates for such loans in India, including both private and public sector banks. But the main issue, regardless the bank you choose is the question often ignored by most: Is this the best deal that I can procure for my new vehicle?

    While some may finance a bike a mean of regular commute, others may buy even a second-hand Yezdi for the thrill for it, In India. Regardless the requirements, the most important thing to note is the affordability. While most top loans for two wheelers are highly affordable, it is never a bad idea to make sure that you have the best deal in terms of benefits both basic and added. So, check for all the features and benefits mentioned here and much more if you can.

    Points To Remember Before You Get a Bike Loan:

    We are not calling this section, tips since all these points must be kept in mind when buying a bike mainly because of the fact that when you are buying something as important as a vehicle you need to be aware of both your rights as well as commitments. So, here is what you need to keep in mind:

    1. Perfect Your Credit History: Starting with your CIBIL score to the last mobile post-paid bill payment, today is the time for you to make amends in your credit history if you want to get a two wheeler loan at reasonable interest rates. You need to understand that most loan companies are slowly getting access to you full financial profile, allowing them to judge as a customer who will keep to the loan repayment commitments.
    2. Research for the best offer: While your dealership may offer you high on flexibility, on your vehicle loan, it is essential that you scrutinize other options as well. Compare each product's and look through the various fees and charges, along with the interest rates. Check the features and benefits as well and then decide.
    3. Go Through the Product Disclosure Sheet/ Terms and Conditions/ Product Brochure: Before you actually apply, the last thing that you may often forget is to check their terms and conditions, etc with proper product details. If you are unsure about any information or it seems misleading, contact the bank immediately to clarify.
    4. Analyse Your interest Rates: You can use a two wheeler loan EMI calculator to give you an approximate idea about how much you actually owe ultimately. You should also note other things such as whether it is a fixed or floating rate, different base rates, etc. Every bank has a different way of calculation, with different numbers and this needs to be understood well by you.
    5. Fees and Charges: As repeatedly mentioned, do not ignore these numbers and amounts if you see a pleasing interest rate for your two wheeler loan.
    6. Documentation: Have all your documentation ready, because once you are sure about a loan product, you can instantly apply online or at the dealership.

    FAQs on Bike Loans:

    1. Do I need to visit the bank to avail a two wheeler loan?

      Absolutely not. In fact, in the case of a dealership, the showroom will take care of the things related to the loan sometimes with a representative from the bank available in the showroom. Else, you can apply online. While some loans require soft copies of documentation, others will simply send a bank representative to collect the documentation and even discuss the product with you.

    2. When do I know that it is the right time to apply for a two wheeler loan?

      The only way you can find it out is by calculating your finances, both currently and for the future. Use an EMI calculator to do so and get an estimated number in your head for monthly repayments. Once you think you can afford it, nothing should stop you, unless you have a terrible credit history.

    3. Will the bank pay for the whole bike or scooter?

      Different banks offer different margins of finance. While some may offer you only 80% margin, do not be surprised when you get 90% covered as well. It is essential to note that most top banks will offer you the full cost of your new vehicle, including other costs such as insurance and accessories.

    4. Is it essential to take a personal accident insurance when riding a two wheeler?

      Absolutely yes, since riding a two wheeler has a lot in stake against riding a closed four-wheeler.

    5. Can I pay the full loan repayment, before the tenure for the loan ends?

      Yes, sure you can. You might be charged a nominal pre-payment charge for the same.

    6. Will I be allowed to choose between MLCR and base rates?

      The bank's terms and conditions on the same actually, rule over that. However, different banks will give you different numbers, resulting differently. So, to be absolutely sure, refer to their product brochure or literature.

    7. What is 2 wheeler hypothecation?

      Hypothecation is a process of guaranteeing possessions as a security/ collateral for the settlement of your loan. In other words, it is an entitlement against the pledged asset as a security of a debt in a contract between you and the bank.

    8. How to cancel my two wheeler hypothecation?

      The steps for two wheeler hypothecation, are as follows:

      • Once your loan is completely repaid, keep the receipt as a proof.
      • You will be given two forms of Form 35 from the lender (bank) and fill them up duly as directed.
      • Get a postal cover and put a 12 rupee stamp on it. Remember to put your name and contact details on it.
      • You will be levied INR 100 as the processing fee for HP termination. Now get the receipt after disbursement.
      • Attach your bike's original RC book, copy of your insurance document and duplicate copy of valid pollution under control certificate along with the aforementioned postal cover and submit it to the Regional Transport Office.
      • You will get a receipt from the RTO as a proof of your submission.
      • You will be sent the RC book by speed post in less than a week.
      • Please keep the copy of all the original papers that you have sent.
    9. Will I be allowed to switch from a floating rate to a fixed rate of interest or the other way round for my two wheeler loan?

      Yes, some banks make it possible to do so. But, they also charge a conversion rate for the same. This fee can be looked up for each product, at the fees and charges sections.

    10. If I am 18 years old, but I don't have a job yet, can I apply for a two wheeler loan?

      Yes, some banks may allow you to do so, as long as you have a collateral or a guarantor to support you in the case, you are unable to make loan repayments on time. As a student, you can apply for loans, but note that they are treated as special cases and are completely at the bank's discretion.

    Read Two wheeler Loan news or Enjoy it on the go

    • New Model of TVS Apache 160 to Launch in India Soon

      Indian two-wheeler manufacturer TVS Motor, is working on a new model of Apache to join the Apache range. YouTube moto vloggers, The Gearhead Bureau, has spied the new TVS Apache 160, confirming that TVS Motor will be updating the current Apache RTR 160 model with fresh features and a new engine. The new Apache 160 will be competing in the sub-150cc segment with the Bajaj Pulsar NS160, Yamaha FZ-S FI V 2.0, Suzuki Gixxer, and the Honda Hornet. Its styling and design are similar to the current 160 model, while also taking design inspiration from Apache 200. As per the leaked images, the Apache 160 shall come equipped with features like front telescopic forks, monoshock suspension at the rear, disc brake and drum brake at the front and the rear, respectively. Also LED headlamp and tail lamp, silver body panel under-seat, and a sculpted longer seat for greater comfort. The new model also gets slimmer tyres as a step towards greater fuel-efficiency. The engine is expected to be 160cc single-cylinder and air-cooled, paired to a standard 6-speed transmission. It is also expected to generate a power of about 16 hp and 13 - 14 Nm of torque. TVS Motor has not announced when the motorcycle is set to launch. But it is expected to be launched this year with an ex-showroom price of Rs.80,000.

      19th July 2017

    • The Final Edition Ducati 1299 Panigale R Launched in India

      The Italian sport bike marque, Ducati has launched its Final Edition 1299 Panigale R bike in India. The bike is priced at Rs.59.18 lakh. This superbike is going to be the last Panigale with L-Twin engine, as the Italian manufacturer is switching all its models to V4 engines. The Final Edition also marks the end of Panigale line. Ducati is hailing the Final Edition as a celebration of its legacy Ducati Superbikes with twin-cylinders. Ducati is set to launch the V4 powered bikes in November this year. The Final Edition 1299 Panigale R Ducati is powered by a 1,285cc L-twin Superquadro engine, which can deliver 142 Nm of torque at 9,000rpm and 206.5 bhp at 11,000 rpm. The engine features tungsten balancing pads and lightened crankshaft similar to Panigale Superleggera, It also features titanium valves and con rods. The bike sports an Akrapovic titanium exhaust that mimics the high-level twin pipes fitted to WSBK racing bikes. The exhaust system is, however, compliant with Euro IV.

      18th July 2017

    • Release dates of MV Agusta Brutale 800 are out

      According to Pune-based and Kinetic Motors owned Motor Royale Group, the 2017 MV Agusta Brutale 800 will soon be released in India on the 19th or 20th of this year. The bookings for the Brutale 800 have started. The ex-showroom (Pune) price for this vehicle is Rs.15.59 lakh. You will be required to pay 20% of the ex-showroom price as a booking amount and so the full amount will be Rs.3.12. The brand new Brutale 800 will have an aluminium sub-frame, re-positioned rear foot pegs, redesigned triple exhaust pipes, fuel tank, and headlamps.

      14th July 2017

    • Axis Bank to Grant 95% Loans for Superbikes

      Axis Bank has decided to tap the high-end motorcycle customer base by introducing a loan product especially designed to offer loans up to 95% of the cost of these bikes. These loans are being offered for motorcycles with over 500cc engine capacity. The loan will attract an interest rate ranging from 10% to 11% p.a. Axis bank will consider funding bike accessories along with the motorcycle cost when calculating the loan to value ratio. Currently, HDFC Bank is the market leader in providing superbike loan schemes across all brands. The bank has tie-ups with Kawasaki and Triumph. HDFC offers up to 85% loan for Triumph Motorcycles, and in some cases even 100% finance, especially if the customer is an HDFC bank account holder. HDFC charges 10.5% interest rate on superbike finance schemes. It also offers between 85% and 95% funding for Kawasaki bikes. The leisure bike segment is set to grow at a rate of 30% p.a. in the coming 3 years, due to increased consumer spending and increasing number of individuals with high net worth. In the financial year 2017, motorcycles with engine capacity between 500cc and 1600cc sold 13,355 unit overall in India. Over 80% sales were of motorcycles with engine capacity of between 500cc and 800cc, priced between Rs.5 lakh to Rs.15 lakh.

      12th July 2017

    • KTM bikes get cheaper post GST

      Bajaj Auto recently announced that KTM bikes have now become cheaper by nearly Rs.8,600 to ensure that their customers get a share of the GST benefits as well. Sub-350cc bikes which include the 200 Duke, 250 Duke, and RC 200 have all taken a dip in their ex-showroom prices by Rs.8,600 after the new GST rates were announced. Due to the additional cess of 3% that has been levied on motorcycles which are over 350cc, the RC 390 and 390 Duke have seen a rise in their ex-showroom prices by up to Rs.5,900. The RC 390 is the motorcycle manufacturer's flagship bike which comes with a price tag of Rs.2.25 lakhs. The company also stated that the reduction in rates will vary depending on the location and the VAT rates which are applicable in the region.

      11th July 2017

    • Bajaj rolls out the Pulsar NS 160

      Adding to its long list of Pulsar models, Bajaj has recently rolled out the Pulsar NS 160. The bike is priced at an ex-showroom price of Rs. 78,368 (Delhi). Similar to its 200cc model with regard to design, the bike comes with a kick start lever, smaller 240mm front disc brake, rear drum brake and skinnier tyres, front forks and the swingarm and is also 10kgs lighter. The bike powers out 15.5PS at 8,500rpm.

      7th July 2017

    • Reduction in Bike Prices Pre GST Regime

      Makers of Two-wheeler like Royal Enfield and TVS Motor have joined the bandwagon of companies to extend the expected GST benefit on their vehicles to the customers by reducing their product prices. The Eicher Motors’ Royal Enfield, which sells only a small range of bikes, like the Bullet, Thunderbird and Classic, has announced a price cut of Rs.1,600 to Rs.2,300 for its product portfolio (Chennai on-road price). The price-cut slab will vary across states. TVS Motors chose not to disclose the exact amount of price reduction that can be expected for its models. The CEO and president of TVS Motor, K.N. Radhakrishnan said that GST would increase the ease of doing business in the two-wheeler sector. Taxes levied on motor-bikes are expected to reduce in almost all states with GST being implemented from July 1, 2017. Under GST, most two-wheelers would attract a tax of 28%, which is lower than the current tax of 30% in total. However, motorcycles with more than 350 cc engine capacity will attract an additional cess of 3%.

      30th June 2017

    • Honda to launch a new two-wheeler on June 21st

      Honda, the multinational conglomerate founded in Japan, is all set to launch a new two-wheeler on the 21st of June. The new two-wheeler is said to be the most affordable offering made by the Japanese company and could be based on the platform set by Honda’s Navi. There are no major details which give a clear idea on the specifications of the two-wheeler but there are a couple of reports that suggests that the vehicle will be a scooter-based utility bike. The company will be targeting the rural markets with this vehicle. With two-wheeler companies launching new models of bikes every other month, insurance companies have been customizing their products, such as two-wheeler loans, to help make people’s dreams of owning a two-wheeler come true.

      22nd June 2017

    • Bike Sales will rise by 8-10% this Financial Year

      The two-wheeler industry in India is all set to register a sales growth of 8-10% in 2017-18. This follows a slowdown in demand after the demonetisation exercise. Rating agency Icra said that the market is recovering after a drop in sales in the past 5 months due to liquidity issues and the inventory correction process (to account for the transition from emission standards Bharat Stage III to Bharat Stage IV) undertaken by auto manufacturers. Between November 2016 and March 2017, there was a fall in sales of both scooters and motorcycles. A sales growth of 7.3% was seen in April 2017, as the effect of the note ban wore off. Scooter and motorcycle segments reported improved sales during this period. Icra forecasts domestic two-wheeler volumes to see a growth of 8-10% in 2017-18. Improvements in the agricultural sector, forecast of favourable monsoons, and rural development programmes are likely to leverage sales. Hero Motocorp stated that the company is expecting double-digit growth this year during the festive season in September.

      9th June 2017

    • Triumph to give engines for Moto2 World Championship 2019

      The FIM (Fédération Internationale de Motocyclisme) Moto2 World Championship to be held in 2019 will have motorcycles with engines provided by Triumph Motorcycles. The British bike manufacturer has entered into an agreement with Dorna which is the commercial rights holder of MotoGP. Triumph will be providing race-spec 765cc, three-cylinder engines for Moto2 bikes. Some of the significant characteristics of these engines are exhaust ports, titanium valves, revised inlet, valve springs, and lots more.

      8th June 2017

    Two Wheeler Loan by Other Banks
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    Two Wheeler Loan Reviews

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    • HDFC Bank Two Wheeler Loan
      "Always the best"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan twice from HDFC Bank. There were two different instances and both times, the experience is good and satisfactory. The process was quick and very much easy as well. The rate of interest and processing charges was also smooth.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 13, 2017
    • Shriram City Two Wheeler Loan
      "Good Service"
      SHRIRAM CITY UNION FINANCE
      0.5 3.0/5 "Satisfactory"
      I got a 2 wheeler loan from SHRIRAM CITY UNION FINANCE. They just took 3 days of time to disburse my loan. The customer service and the response is good. The rate of interest very high when compared with others. I have finished paying this loan within a year of time.
      Was this review helpful? 0
      , salem
      Reviewed on Jul 13, 2017
    • Shriram City Two Wheeler Loan
      "Helpful Service"
      SHRIRAM CITY UNION FINANCE
      0.5 4.5/5 "Excellent!"
      I had taken the two wheeler loan from Shriram. This is an ongoing loan. I do not recall the interest rate but last year only I got the loan. Shriram was very supportive during the loan process. They immediately approved the loan and sanctioned it on time.
      Was this review helpful? 1
      , kolar
      Reviewed on Jul 12, 2017
    • review Two Wheeler Loan
      "Good service"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      I got a 2 wheeler loan from Bajaj Finserv. They have disbursed the loan within a week time, the rate of interest is nominal with Bajaj finserv. I am happy with the loan amount. I have paid Rs.37,000 as Initial amount and the loan got sanctioned for Rs,60,000 and I am satisfied with the service.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 12, 2017
    • review Two Wheeler Loan
      "Good Offer"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I had taken two wheeler loan from Bajaj about long time back. In the first week of launching Bajaj Platino, they had announce an offer. The cost of the bike is 32,500, as per the offer I paid 20,000 and for the rest of the amount I paid it as EMI. But there is no interest rate for the loan. It was a good offer and good service from Bajaj.
      Was this review helpful? 0
      , erode
      Reviewed on Jul 11, 2017
    • review Two Wheeler Loan
      "Excellent Service"
      HDFC LIFE
      0.5 5.0/5 "Blown Away!"
      My bike loan was taken from Hero Finance, this loan was taken in 2015. The loan amount what I taken was around 60k. I had made a down payment of around 15000 rupees. The total EMI is for 110months, the EMI amount is 3000. All the information was properly conveyed to me, and in 2016 I have closed this account
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 09, 2017
    • HDFC Bank Two Wheeler Loan
      "Excellent Service"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I have availed two wheeler loan from HDFC bank, this loan would get completed most probably by 6 months. Their interest rate is very nominal when compared with other banks in the market. I am happy banking with HDFC. Their response and the customer service provided by HDFC Bank is really excellent.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Jul 07, 2017
    • ICICI Two Wheeler Loan
      "Unhappy with the services"
      ICICI BANK
      0.5 1.0/5 "Really Bad"
      I have earlier taken a two wheeler loan from ICICI Bank and the process was not satisfactory. The customer support was not responsive and the whole process was inconvenient. They did not respond on time. The bank is not recommendable and the interest rates are high.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Customer friendly bank"
      HDFC BANK
      0.5 4.0/5 "Great!"
      HDFC bank is also plays a good role, I am very satisfied with their charges and their norms are good. That's the reason I have taken two loan from HDFC, My loan amount is around Rs.53,000 to purchase Activa worth of Rs.62,000 before two months. Overall HDFC good experience.
      Was this review helpful? 1
      , indore
      Reviewed on Jul 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Good in customer service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      For two wheeler loan, I had approached HDFC bank and the services are good with them. I had taken the loan with the interest rate of 9.5%. They done with the process in a good manner and all their services are really good. I am happy with HDFC bank.
      Was this review helpful? 1
      , raipur
      Reviewed on Jul 07, 2017
    • HDFC Bank Two Wheeler Loan
      "Supportive "
      HDFC BANK
      0.5 4.0/5 "Great!"
      My two wheeler loan is running with HDFC bank. Recently I got this loan and I had done with 2 EMIs. I do not remember about the interest rate but I am happy with the bank for the loan process. Actually this is my second two wheeler loan from the bank.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 06, 2017
    • HDFC Bank Two Wheeler Loan
      "Wonderful "
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have closed the two wheeler loan with the HDFC bank and the interest rate was bit like it was around 14%. Customer service and everything was good, also I don't have any issues with them till now. Response is also good one with the HDFC bank.
      Was this review helpful? 1
      , pune
      Reviewed on Jul 06, 2017
    • L&T Finance Two Wheeler Loan
      "Excellent"
      L&T FINANCE LIMITED
      0.5 4.0/5 "Great!"
      Services are good with Larsen and turbo a in availing bike loan is good enough and the main reason approaching this is rate of interest. Initially this was named as Family credit, customer service team is quite ok and overall I like the service from them
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 06, 2017
    • review Two Wheeler Loan
      "Its Great"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      I took a two wheeler loan from Bajaj Finserv they offered me 8% of interest which is the very least in the market, they are very much responsible I felt it is a better service. Moreover they are supporting the customer by offering a lower interest based on their need. My loan amount was Rs. 1.67 lakh, I purchased Ktm 319 bike worth Rs. 3 lakhs and it is recently launched.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 05, 2017
    • HDFC Bank Two Wheeler Loan
      "Dissatisfied service"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      I already submitted all the document to HDFC for two wheeler loan. But they kept changing the interest rate they were not transparent in their process. Initially they told me interest rate would be around 12 % then they changed to 20% of interest. I am not fine with their service, Though I am an existing customer they are not good in offers.
      Was this review helpful? 2
      , amritsar
      Reviewed on Jul 03, 2017
    • ICICI Two Wheeler Loan
      "Excellent and satisfactory service"
      ICICI BANK
      0.5 4.0/5 "Great!"
      ICICI is very much transparent, they provide all the information about the charges. I took two wheeler loan amount of Rs.30,000 for an interest rate of 12.5% this is for a tenure of six years, my EMI was Rs.3000 now my loan amount got closed without any hassles.
      Was this review helpful? 1
      , amritsar
      Reviewed on Jul 03, 2017
    • ICICI Two Wheeler Loan
      "Interest rate has to be reduce"
      ICICI BANK
      0.5 4.0/5 "Great!"
      Earlier, I was holding a salaried account with ICICI so they were able to process the two wheeler loan approval without any hassles. My two wheeler loan amount was Rs. 38,000 that was for a tenure of three years. Interest rate was good. Their way of approach was also good, I don't want to run behing banks rather they voluntary offered the loan.
      Was this review helpful? 2
      , hubli
      Reviewed on Jul 03, 2017
    • review Two Wheeler Loan
      "Satisfactory services"
      BAJAJ FINSERV
      0.5 4.5/5 "Excellent!"
      I have taken my two wheeler loan earlier from Bajaj Finserv and the process is good. I received the loan on time and the after loan services is also perfect. The documentation was not much. It was a nice experience as they were supportive. The interest rate and charges was a bit high.
      Was this review helpful? 2
      , pune
      Reviewed on Jun 25, 2017
    • HDFC Bank Two Wheeler Loan
      "Not Happy"
      HDFC BANK
      0.5 2.0/5 "Expected more"
      During the year of 2014, I got two wheeler loan from HDFC bank. Interest rate was high with the bank and the process was average. I had already completed the loan. But I am not happy with the services of HDFC bank for the two wheeler loan process.
      Was this review helpful? 1
      , guwahati
      Reviewed on Jun 24, 2017
    • review Two Wheeler Loan
      "Good overall"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      Bajaj Finserv was too good in the process for the two wheeler loan. I had taken the loan couple of years back and the process was smooth and the after loan services was good too. I never had issues during the process and in all there were no hassles as such.
      Was this review helpful? 3
      , chennai
      Reviewed on Jun 24, 2017
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