Are you a bike lover? Have you ever dreamed of owning super bikes like Harley Davidson, Triumph etc? Super bike is truly iconic brands that many people in India aspire to own.
India's private-sector bank Axis Bank announced the launch of Super Bike Loans for 500cc and above bikes in July this year. Know more about this loan.
The product offering of the bank has Loan to Value Ratio of upto 95% of the bike cost including accessory funding with special offers and programs for their own HNI customer.
The following people are eligible for applying for super bike loan:
- A salaried or self-employed individual.
- Individuals who are a minimum of 21 years of age at the time of applying for the loan, and no older than 58 at the end of the loan tenure.
- Individuals who have been residing at the given residence for a minimum of 1 year.
- Those who have been working for a minimum of 2 years.
The Borrower can avail up to 85% of the On road price of the vehicle. Also, he or she can avail an additional 8 % on the invoiced accessories.
Latest three months bank statement is a must to apply for the super bike loan. Apart from this salaried people need to submit the following documents as address and identity proof.
- Driving Licence
- Voter's ID
- Aadhaar Card
- Pan Card
- Any other document
- Latest Salary Slip
- Latest Form 16
Self-employed people need to submit these documents
- Telephone Bill
- Electricity Bill
- Shop & Establishment act Certificate
- SSI or MSME Registration Certificate
- Sales Tax or VAT Certificate
- Current A/c Statement
- Latest ITR
Pre-payment of the entire loan amount
You can pre-pay the loan any time after six months of availing of the loan at a nominal charge. It is important to note that no Cash Payment accepted towards Pre-payment of the loan, Only DD/MC/Cheques will be accepted by the bank.
Who can avail?
If you don't have an account with Axis Bank, you can still avail of loans an Axis Bank Super Bike Loan. You need not necessarily have an account with the bank to avail this facility.