Easy ways to finance your superbike purchase

Owning a superbike is a dream for many students and enthusiasts, but the high price tag can often stand in the way. Thankfully, a range of bike financing options—both online and offline—can help make that dream a reality. These include two-wheeler loans, personal loans, and specialised bike loans for students.

Many banks and financial institutions provide these loans via convenient offline branches and online platforms. With features like up to 100% financing and attractive rates, you can explore and compare multiple loan offers.

By reviewing factors like loan tenure, eligibility criteria, and required documents, you can confidently choose the option that best suits your needs.

Financing options for a superbike

With dealer financing and EMI Cards, you can split your large purchase into smaller payments. Here are some financing options to help you choose the most preferred:

• Dealer Financing: Most dealerships, such as Hero's eFinance platform, provide easy loan facilities at the showroom. Compare lenders, check eligibility, and apply online with minimal documentation.
• Two-Wheeler Loans: This is the most widely used option, where banks or financial institutions finance up to 100% of the bike’s on-road price. These loans offer flexible EMIs and competitive interest rates. They also provide repayment tenures of up to 6 years, making the process manageable and structured.
• Specialised Superbike Loans: Institutions such as Axis Bank offer superbike loans with higher loan amounts and longer tenures. These loans often require substantial income proof and can begin from ₹1 Lakh, covering up to 85% of the bike’s total cost.
• Bike Loans for Students: A few NBFCs and banks provide bike loans for students with minimal formalities. These loans finance up to 100% of the bike’s on-road price, offer interest rates starting from 0.99% per annum, and have repayment periods of up to 6 years.
• Personal Loans: This option provides quick access to funds without using the bike as collateral. You can use the loan amount for the bike, accessories, or riding gear. These loans come with fast disbursal and flexible usage.
• Credit Cards/EMI Cards: These cards allow you to convert the total cost of the superbike into easy monthly instalments. This option is ideal for salaried individuals with a strong credit profile and an active credit card or a pre-approved EMI Card.

Benefits of two-wheeler loans

A two-wheeler loan enables you to own a superbike without placing financial strain on your budget. Check out some top benefits:

• Flexible repayment tenures let you choose EMIs that suit your monthly income and expenses, making repayments easier to manage.
• Up to 100% financing covers the entire on-road price of the superbike, so you may not need to pay anything upfront.
• Fast approval process with no need for a guarantor or field visit from select lenders.
• Attractive interest rates along with low processing fees, make the loan cost-effective.
• No income proof required in some cases, especially for existing bank customers with pre-approved offers—helpful for students or those with limited income.
• Improves credit history as timely EMI payments strengthen your credit score and future loan eligibility.

Eligibility criteria and documents required to apply for a two-wheeler loan

To apply for a two-wheeler loan, you need to meet specific eligibility conditions and provide a set of documents. These ensure your ability to repay the loan and comply with the lender's requirements. Here are the general requirements:

Eligibility Criteria

• Need to be an Indian citizen
• The age requirement is usually between 18–65 years, or up to 70 years for select lenders
• Employment types can include salaried individuals, self-employed professionals, entrepreneurs, pensioners, and students

General Documents

• Duly filled loan application form and passport-size photographs
• Age and residence proof like Aadhaar card, voter ID, driving licence
• Last 6 months' bank statements and bike quotation

Income Requirements

• Salaried employees have to provide proof of Gross Monthly Income (GMI) for the last 3 months
• Non-salaried individuals need to provide GMI or Income Tax Returns (ITR) for the last 2 years
• Most financial institutions require a CIBIL Score of 700 or above
• The vehicle needs to be new and used for personal purposes only

Additional Documents for Salaried Individuals

• Last 3 months’ salary slips
• Form 16 or the latest Income Tax Returns

Additional Documents for Self-Employed Applicants

• Last 2 years’ ITR, Profit & Loss statement, Balance Sheet
• Business proof like GST, trade licence, or registration
• TDS/Tax clearance certificates

You need to note that these criteria and document requirements may vary depending on the bank or NBFC. You have to check specific lender policies and requirements before applying for a loan facility.

How to apply for a two-wheeler loan

Applying for a two-wheeler loan is a hassle-free process. You can make a purchase online or from a dealer showroom, and you can also follow these general steps:

Step 1: Contact the bank or financial institution offering the two-wheeler loan. Use your preferred method, such as:

• Visit a Bank Branch: Speak with a bank representative at any nearby branch and fill out the application form in person.
• Apply Online: Visit the official website of the lender and complete the digital application form. Provide essential details such as your name, PAN Card, income, and vehicle preference.
• Call Customer Support: Use the lender's toll-free helpline to enquire and start your application.

Step 2: Submit physical copies of your identity proof, income documents, and bank statements as required.

Step 3: Once the lender verifies and approves your application, the loan amount is disbursed. This process is usually completed instantly or within a few hours.

You need to note that these steps may vary depending on the lender’s procedures. Therefore, it is necessary to refer to the specific bank or NBFC for accurate instructions.

Things to check before applying for a two-wheeler loan

Before you opt for a two-wheeler loan, you need to consider a few important factors. This approach will help you make an informed and responsible choice:

• Verify the lender's requirements for age, income, credit score, and type of employment
• Compare the interest rates of loans offered by different lenders to choose the least expensive option
• Choose the loan amount you require and the down payment you can afford
• Select a repayment term that balances affordable EMIs and total interest payable
• Maintain a good credit history to increase approval chances and secure favourable terms
• Keep your ID proof, income proof, and bank statements ready for submission
• Watch for seasonal discounts or reduced interest rates offered by various lenders

Financing a superbike is simple when you choose the right lender and secure suitable terms. Personal loans offer flexibility, but two-wheeler loans are better. They come with lower interest rates, structured repayments, and faster processing.

These loans are designed specifically for buying vehicles. This makes them a more efficient and convenient option in the long run. If you are looking to buy your dream bike, a superbike loan from a trusted lender simplifies the process.

With the right loan terms, you can enjoy your ride without straining your financial health. It is important to review the loan terms, benefits, and details thoroughly before committing to a two-wheeler loan.