Bike on EMI
Owning a bike has become an essential part of our lives, providing us with convenience and freedom to navigate through busy streets and explore new horizons. However, purchasing a bike outright may not always be feasible due to budget constraints. Thankfully, with shopping loans, you can now fulfill your dream of owning a bike without burdening your finances. Let us explore the benefits of acquiring a bike on EMI and how to calculate your bike EMI using a bike EMI calculator.
Why Should You Take a Bike on EMI?
Affordability: By opting for a personal or shopping loan to purchase a bike, you can enjoy the benefits of ownership without straining your finances. With convenient EMI options, you can divide the cost of the bike into manageable monthly instalments, making it more affordable and budget-friendly.
Flexibility in repayment: Many lenders in India offer flexible repayment options tailored to your financial capacity. You can choose the tenure of your loan, ranging from six to 60 months, allowing you to select a repayment period that suits your budget and income.
No collateral required: Personal loans for bikes are usually unsecured, meaning you do not need to provide any collateral or security to avail of the loan. This feature eliminates the need for additional paperwork and safeguards your assets while granting you the financial freedom to own the bike of your choice.
Quick and hassle-free process: Most lenders now have minimal documentation requirements and have set simple application procedures so that you can obtain a bike loan quickly and hit the road on your new bike as soon as possible.
Which Bike Should You Buy on EMI?
| Features/Bikes | Popular Models | Engine Technology | Off-road Capability | Performance | Styling | Technology | Pricing |
|---|---|---|---|---|---|---|---|
|
KTM |
KTM RC 200, KTM RC 125, and KTM Duke 250 |
Advanced performance-oriented engines |
Known for off-road and motocross models |
Emphasis on power and aggressive performan-ce |
Aggressive and sharp design language |
Advanced electronics and rider aids |
Generally higher priced |
|
Suzuki |
Suzuki Access 125 |
Diverse range, including sport and commuter
|
Offers off-road and dual-sport models
|
Varied performan-ce range across models
|
Varies across models, some sporty and some classic
|
Incorporates modern features and technology
|
Varied pricing, including budget-friendly options
|
|
Yamaha
|
Yamaha R15 |
High-performance engines with advanced features
|
Offers off-road and motocross models
|
Balanced performance across different segments
|
Sporty and aggressive design language
|
Incorporates modern features and technology
|
Varied pricing, including budget-friendly options
|
|
Honda |
Honda Activa 125 and Honda Activa 6G
|
Diverse range, from commuter to sport models
|
Offers off-road, dual-sport, and adventure models
|
Varied performance range across models
|
Varied styling, from sporty to classic
|
Offers advanced technology and rider aids
|
Varied pricing, covering different market segments
|
|
Ather Energy
|
Ather 450X |
Electric-powered scooters
|
Primarily designed for urban commuting
|
Instant torque and smooth acceleration
|
Modern and futuristic design language
|
Advanced features like touchscreen display
|
Premium pricing due to electric technology
|
|
Royal Enfield
|
Royal Enfield Classic 350 |
Internal combustion engine motorcycles
|
Offers some models suitable for off-road riding
|
Emphasis on low-end torque and cruising experience
|
Classic and vintage-inspired designs
|
Minimalist features, focusing on retro charm
|
Varies across models, including budget-friendly options
|
Bike on EMI Calculator
Before applying for an Bike on EMI, why not be a little more certain about your EMI loan and its interest rate?
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Loan EMI
Rs. pm
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Total Interest Payable
Rs
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Total Amount Payable
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Key Takeaways
Acquiring a bike on EMI is an excellent way to enjoy the perks of bike ownership without straining your finances. With the flexibility, affordability, and hassle-free process offered by lenders, you can easily obtain a bike on EMI. Utilize the Finnable EMI calculator to calculate your monthly EMI amount and plan your budget accordingly. Choose your trusted loan provider wisely and embark on your two-wheeler journey with ease.
Frequently Asked Questions (FAQs):
Yes, you can choose any bike model that is eligible for financing through personal or shopping loan options.
The eligibility criteria for taking a bike on EMI include requirements such as age criteria, income proof, employment stability, and creditworthiness.
Yes, most lenders will allow you to prepay your bike loan before the completion of the EMI tenure.
While the interest rates for bike loans on EMI are generally determined by the loan provider, you may have room for negotiation depending on your creditworthiness and the loan provider's policies.
AMIT ARORA
