2. Multiple Payment Options
Banks and NBFCs that grant two wheeler loans usually offer a multitude of loan repayment options. In most cases, repayment is through Equated Monthly Instalments (EMIs). You can keep paying these EMIs for a period of 12 to 60 months, whichever suits your monthly budget. You may even get the option to make partial repayments to further reduce the monthly burden of EMIs.
3. Competitive Interest Rates
Since there is a high demand for bike loans among individuals looking to purchase a two wheeler, banks and NBFCs tend to offer very competitive bike loan interest rates. However, this interest rate also depends on your credit score and overall credit history. If the lending institution conducts a hard inquiry and finds that you have a history of repaying on time, you may be offered a lower interest rate.
Post Comment