Super bike loans from Axis Bank
Posted on: 05/Jul/2017 6:44:44 PM
As most Indians are fond of having iconic bike brands like Harley Davidson or Triumph, Axis bank has come forward with an exciting bike loan offer. It will provide accessory funding with the bike cost.
Today, Axis Bank has introduced special loan product that offers up to 95 percent of bike rate.
The loan is applicable for bikes that come with engine displacement of over 500 cubic centimeters. This comes with 10-11 percent price tag per annum. Rajiv Anand, the executive director of the third largest private sector lender says most Indians aspire about owning iconic bike brands like Triumph and Harley Davidson. This is what has triggered us to announce such an offer, he says.
There is an expected 30 percent growth per annum in the leisure biking segment in the next three years.
The ratio between loan and value is capped at 95 percent. The bank says, the accessory funding will also be considered along with bike pricing.
A lot of bike brands have entered the segment in the past decade. These bikes are priced of the range Rs 5 to 50 lakh.
Last year, the total witnessed sale is 3000 units. The customers’ buying age has reduced from 40s to 30s. There are riding clubs and adventure activities that furthermore promote bike sales. The sale is not just flourishing in metros, but in tiier-2 and tier-3 cities as well.
