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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.

    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.

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    • Royal Enfield plans to not make new models until new emission norms come out

      Royal Enfield, leading Indian motorcycle manufacturer, has declared that it will not be launching any new bike model until the new emission norms are out in the year 2020. Until then, the company will be focussing on its new introductions that are going to be out soon.

      The company recently released two bike models known as Continental GT and Interceptor at a global motor show, which was held in Milan, Italy. The company also displayed its new 650cc twin cylinder engine.

      It is said that Indian motorcycle makers will need to move from BS IV to the much rigid BS VI emission norm system.

      22nd November 2017

    • India shows off its bikes at EICMA 2017

      Indian motorcycle manufacturers recently showcased their classy motorcycle creations at the famous international auto show known as EICMA 2017.

      Royal Enfield showed off its brand new growth engine with a 648cc engine that comes with an air cooling system. The engine has a four-stroke and a twin cylinder. Hero Motorcorp exhibited its X-Pulse adventure concept bike, which was entirely created as well as designed in India.

      Meanwhile, British bike manufacturer, Norton Motorcycles, recently declared that it will be partnering with Kinetic Group which is based in Pune. This partnership will help the British company in selling its bikes in India.

      21st November 2017

    • Eicher Motors registered Q2 profit of 25% on the sales of Royal Enfield

      On Tuesday, Eicher Motors posted a 25.4% rise in its PAT (profit after tax) for the second quarter which ended on 30 September, 2017. Contributing to this Q2 profit, its two-wheeler product Royal Enfield registered a record quarterly sales of 2,02,744 motorcycles compared to 1,66,582 bike units sold previous year resulting in a growth of 21.7% in this segment.

      While the company registered a PAT of Rs.413 crore for the same period of last financial year, this year they declared a profit of Rs.518 crore after tax. Also, compared to the total income of Rs.1,755 crore from operations in the second quarter of last fiscal, the current year its profit rose to Rs.2,167 crore.

      The Managing Director and Chief Executive Officer of Eicher Motors, Siddhartha Lal, stated that the company is targeting to release 8.25 lakh bike units this financial year to significantly expand its sales as well as profit margin.

      20th November 2017

    • Delhi Government files fresh petition to NGT for exemption of women and two-wheelers

      Immediately after the refusal of National Green Tribunal (NGT) to exempt two-wheelers and women from the odd-even car rationing scheme, Delhi Government again approached them urging the exemption for one year or until 2000 new public transport buses are procured. Earlier on 11 November, 2017, NGT refused the exemption of women and two-wheelers from the odd-even scheme and issued strict orders to take the diesel vehicles which are 10 years old off the road with immediate effect in order to control the high pollution level.

      In the modified petition, the Delhi government has seeked the exemption on the ground of mass inconvenience due to the shortage of public transport and safety issues that women might face while travelling in crowded buses. It stated that for the successful execution of this car rationing scheme, at least 2,500 buses are required to adjust 25 lakh added passengers and this will take at least one-year. Till this time, the government is expecting the Green Panel to reconsider the issue and exclude women and two-wheelers from the ban.

      17th November 2017

    • KTM wants to launch Husqvarna bikes in India by year 2020

      KTM, renowned manufacturer of sports bikes in Austria, is gearing to launch Husqvarna bikes in India by year 2020. It has plans to produce the bikes at the production plant of its India partner, Bajaj Auto. Both the companies are in partnership for more than a decade now and produced the bike models DUKE 125 390 and RC 125 390 together.

      KTM will make use of Bajaj Auto’s Chakan Plant to produce the Husqvarna bikes in India. Though, it already has a capacity of manufacturing 1 lakh KTM bikes, the company is planning to install capacity of another 1 lakh unit especially for the Husqvarna bikes. KTM is currently focussing on the production of Husqvarna’s White Arrow and Black Arrow bikes with 150cc to up to 390cc engine capacities from the Chakan plant.

      Expectedly, the production of these bikes will start by the last half of 2020.

      16th November 2017

    • Royal Enfield is now focussing on 3 new platforms for its motorcycles

      Royal Enfield, leading motorcycle manufacturer, is focussing on creating 3 whole new platforms in order to replace the prevailing platforms so that the new emission regulations are updated.

      The bike manufacturer may install larger displacement engines to the Royal Enfield Himalayan. This will most probably be one of the new platforms.

      The bike company may also launch electric motorcycles sometime later. The brand new Royal Enfield 650cc bikes will be a part of the new platform. These bikes have a 648cc engine with a single overhead cam, parallel twin, and an air-cooled engine.

      15th November 2017

    • Royal Enfield and Suzuki Motor launched new bikes in EICMA

      The biggest bike manufacturers in India, Royal Enfield and Suzuki Motor, has launched new bikes in the world’s largest bike show, EICMA. While Royal Enfield has unveiled two 650cc bikes in this grand show held in Milan, Italy, Suzuki launched a 155cc baby Intruder which is the priciest one in this segment.

      Among the two new bikes revealed by Royal Enfield, the retro-looking Interceptor INT 650 is meant for highway cruising and the Continental GT 650 is the advanced version of Continental GT 535. Expectedly, these bikes will be available for sale in India by the end of 2018. On the other hand, Suzuki’s new launch, the Intruder, is targeted towards the urban India youth and priced at Rs.98,000.

      14th November 2017

    • Honda launched its automatic scooter Grazia all over the country

      The leading scooter-manufacturer, Honda Motorcycle and Scooter India, has released its new automatic scooter Grazia this Wednesday across all Indian states. With the launch of Grazia, Honda has taken one-step forward to mark its position in the urban two-wheeler segment in India.

      Grazia, the advanced version of Honda’s flagship product Activa, is priced at Rs.57,897 (Ex-showroom in Delhi) which is only Rs.400 more than the price of the former one. This advanced automatic Honda scooter boasts of a plethora of features which has been introduced in the market for the first time. LED headlamps, 50 Km/litre mileage, 3-step Eco-speed indicator, all-digital instrumentation, and a seat-opener switch are some of the one-of-its-kind features offered by Grazia.

      Honda is hopeful that this new scooter, especially targeted to meet the needs of the urban Indian youths, will take the concept of scooterisation to a new level in India.

      13th November 2017

    • Lambretta revealed its new scooters at EICMA,2017

      Lambretta has made a comeback in the global scooter segment with the release of its first three scooters bearing the Lambretta badge. It has recently unveiled its new scooters, namely V50 Special, V125 Special and V200 Special, at EICMA 2017 held in Milan, Italy.

      Owned by Innocenti S.A, Lambretta is an iconic brand which has been absent from the market for more than two-decades. But, with its new range of scooters, it is ready to sweep the market again. The new models of Lambretta scooters are likely to be available in two different variants, Fixed fender and Flex fender. All the three-models will be manufactured in Taiwan and then will be put on sale in the European market by the initial months of 2018.

      The steel-bodied models of Lambretta scooters are designed on similar platform with identical dimensions. Coming to the special features, the models come with 770mm high seats, 6.5 litre fuel tank, a 220mm hydraulic disc brake, a 110mm rear drum, a 12-volt charging socket, and LED headlights, tail-lights and turn-signal indicators. As special addition, the V125 receives a standard combined braking system and the V200 gets a Bosch ABS unit. It is expected that the Lambretta scooters will arrive in the Indian market by 2019.

      10th November 2017

    • Brand new big bike of Royal Enfield may give high competition to Harley India

      The position of Harley-Davidson Inc. in the quickest growing big-bike segment in India may get affected with the introduction of Royal Enfield’s ever-first heavyweight motorcycle. India is a prime manufacturing location now for Harley Davidson for its famous Street 750 motorcycle.

      This bike is also showing excellent growth prospects in India especially with the declining demand in the U.S.

      However, the retail price of the brand new big bike of Royal Enfield is expected to be Rs.3 lakh. On the other hand, the retail price of Harley Street 750 is Rs.5 lakh. Hence, a few executives at Harley suspect that this difference in price will affect sales of Harley bikes in India. However, a few others believe that Harley Davidson will always be a top brand that many Indians will admire.

      8th November 2017

    Two Wheeler Loan by Other Banks
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    Two Wheeler Loan Reviews

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    • HDFC Bank Two Wheeler Loan
      "Overall good. "
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have taken a two wheeler loan for a Scooty. HDFC Bank has been very fast in processing the loan and the documentation was also a normal procedure. The customer services are good and there are no issues in the after loan services too. The interest rate and charges are normal.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 23, 2017
    • HDFC Bank Two Wheeler Loan
      "Fantastic"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      I have completed the two wheeler loan with the HDFC bank and the customer service is good one too. I would like to say that the online services are really good one for me with the HDFC bank and I have not faced any issues with them. It was a wonderful experience that I had with HDFC.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • review Two Wheeler Loan
      "Good service"
      INDUSIND BANK LTD
      0.5 5.0/5 "Blown Away!"
      Around 3months ago I have got the Two wheeler loan from Indus-ind bank, they have disbursed the loan amount immediately after I have approached the Indus-ind bank customer support. The rate of interest and the charges are nominal with Indus-ind bank when compared with others.
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      , hyderabad
      Reviewed on Nov 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Better service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I have taken two wheeler loan from HDFC bank, the experience was quite good. My loan amount was approved in same day, the process was very smooth and easy. The loan amount was for Rs 43000 with the nominal rate of interest. Customer service was good and their response was also good.
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      , jaipur
      Reviewed on Nov 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 5.0/5 "Blown Away!"
      HDFC bank has offered me a 2 wheeler loan around 3years ago. The customer support is good with the HDFC bank, they have disbursed the loan within 2 to 3 days of time . The required vehicle loan amount has been given and I am satisfied with it. The rate of interest and the charges are average with HDFC 2 wheeler loan.
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      , hyderabad
      Reviewed on Nov 22, 2017
    • review Two Wheeler Loan
      "Got the Bike"
      BAJAJ AUTO FINANCE
      0.5 4.0/5 "Great!"
      It was almost 3 years back when getting a Pulsar 220 was top of my wish list, and this was done by Bajaj Finance. The whole loan got approved immediately and the rate of interest with them was also pretty normal. The EMI paying option was also pretty good with them.
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      , mumbai
      Reviewed on Nov 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Needs to improve"
      HDFC BANK
      0.5 1.0/5 "Really Bad"
      I have applied for the two wheeler loan from HDFC bank, i would say the experience was not satisfactory. Initially they said the rate of interest will be 12% and later they ended up with 16% which is way high when compared to other banks. Customer service was not up to the mark. The loan amount was for Rs 40000 with the rate of interest of 16%, my loan amount was approved within 2 days and the process was quite fast.
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      , bangalore
      Reviewed on Nov 22, 2017
    • HDFC Bank Two Wheeler Loan
      "Good service"
      HDFC BANK
      0.5 4.0/5 "Great!"
      I had my two wheeler loan with HDFC bank since January 2010 but closed the loan after 3 years. The rate of interest I don't exactly remember but it should have been around 8% to 8.5%. There was no processing fees for this two wheeler loan. Overall it is a good service with HDFC bank.
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      , coimbatore
      Reviewed on Nov 21, 2017
    • review Two Wheeler Loan
      "Excellent service"
      BAJAJ FINSERV
      0.5 4.5/5 "Excellent!"
      I have taken the two wheeler insurance service directly from the showroom the documents part was easy I submitted directly to the showroom the payments are online they deducted from my savings account through ecs, the customer service was good the staffs are very nice the interest rate they offered fine from others for my mahindra two wheeler.
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      , bangalore
      Reviewed on Nov 21, 2017
    • HDFC Bank Two Wheeler Loan
      "Better"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      I have closed the two wheeler loan with the HDFC bank and the rate of interest was around 11.5%, also the customer service was good. The loan amount got disbursed within seven to ten days of time. I am happy with the HDFC bank to get the two wheeler loan .
      Was this review helpful? 0
      , agra
      Reviewed on Nov 20, 2017
    • Shriram City Two Wheeler Loan
      "Two wheeler loan"
      SHRIRAM CITY UNION FINANCE
      0.5 4.0/5 "Great!"
      I have taken a two wheeler loan from SHRIRAM CITY UNION FINANCE. The approved loan amount was 45000. The rate of interest was nominal. The tenure was for 2 years. The monthly EMI is 2381.The documentation process with the institution was fine. I got the amount the same day.
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      , samastipur
      Reviewed on Nov 18, 2017
    • Shriram City Two Wheeler Loan
      "Excellent"
      SHRIRAM CITY UNION FINANCE
      0.5 5.0/5 "Blown Away!"
      My two wheeler loan was taken with SHRIRAM FINANCE 4 years back. The loan amount was 40,000 and the rate of interest was very satisfactory . The EMI period was 1 year and The loan process was excellent here . They have provided door step service for collecting document . They have sanctioned the loan with the committed time. My overall experience was excellent here.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 18, 2017
    • Vijaya Bank Two Wheeler Loan
      "GOOD"
      VIJAYA BANK
      0.5 4.0/5 "Great!"
      I took this loan form VIJAYA Bank in the past during the year 2012 . It was 2 wheeler loan i took and i received a full approval for the amount i asked for . The amount got disbursed in 15 working days . The rate of interest was 6% and the processing fee was 700 rs they charged . The bank provided me a option of pre closure . It was a good experience that I received form the bank side .
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      , chennai
      Reviewed on Nov 18, 2017
    • HDFC Bank Two Wheeler Loan
      "GOOD SERVICE"
      HDFC BANK
      0.5 4.0/5 "Great!"
      It was been two years I have taken the two wheeler loan service from HDFC for my Honda activa bike the interest rate they provide me was fine the service was taken directly from the showroom and the payments where through online it was totally a good experience with HDFC for my two wheeler loan service.
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      , cuttack
      Reviewed on Nov 17, 2017
    • review Two Wheeler Loan
      "Overall no hassles"
      CENTRAL BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      My second two wheeler loan was taken around two years ago. I have taken a Bajaj vehicle. The customer services are good and they were very fast to get my two wheeler loan through. It was with CBI and the interest rate and processing charges are minimal and being an existing customer it has always a hassle free experience.
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      , bangalore
      Reviewed on Nov 17, 2017
    • review Two Wheeler Loan
      "Fast process"
      CENTRAL BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      My first experience with Central Bank of India was three years back for a two wheeler loan. I have taken a TVS brand vehicle. The customer services are good and the process was very much easy and convenient. The charges are normal and the interest rate is normal.
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      , bangalore
      Reviewed on Nov 17, 2017
    • review Two Wheeler Loan
      "Interest and Charges should be standard"
      BAJAJ FINSERV
      0.5 4.0/5 "Great!"
      Bajaj Finserv interest rate is more for the two wheeler loan, I taken the loan amount of Rs. 80.000 to purchase Pulsar 180, they charged high interest and I paid the almost Rs.96,000, even their charges was very higher side. Their interest and charges should be reduced.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 17, 2017
    • review Two Wheeler Loan
      "Good service"
      BAJAJ FINSERV
      0.5 5.0/5 "Blown Away!"
      My Two wheeler loan experience with Bajaj Finserv was good, they provided a very good service and the process was very smooth. The loan amount was for Rs 65000 with less interest rate. Customer service was fine and their response was prompt. I submitted my documents directly to the showroom. My loan was approved within the given time.
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      , rourkela
      Reviewed on Nov 17, 2017
    • HDFC Bank Two Wheeler Loan
      "Good Experience"
      HDFC BANK
      0.5 4.5/5 "Excellent!"
      I am an existing customer of HDFC, I directed approached the bank to avail Bajaj pulsar 220, cost of the bike is around 1.2 lakh, I taken 100% loan without paying down payment. Response is also good and satisfactory, I am very much fine with their service.
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      , pune
      Reviewed on Nov 17, 2017
    • HDFC Bank Two Wheeler Loan
      "Average service"
      HDFC BANK
      0.5 3.0/5 "Satisfactory"
      HDFC service was awesome regarding my two wheeler loan and I have taken the service directly from the showroom the documents where submitted directly to the showroom and the payments will be deducted from my savings account through ecs I was paying 2060 monthly it was average experience with HDFC for my two wheeler loan service.
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      , bangalore
      Reviewed on Nov 17, 2017
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