In a country like that is India filled with middle-class families, it is not easy to buy a bike with full payment. Furthermore, the registration charges, insurance premium, etc. are a financial burden on its own. Hence, if you are someone who is willing to buy a two-wheeler only to realize that you are still not there financially, then this article is important for you.
First of all, you are not the only person who is not able to afford an amount of more than or around 50,000. Hence, even though you are not sure about getting financial help to buy your dream bike, it is a viable and safe option. But the first thing you need to do is planning and research.
Bike Loan Interest Rate of Bajaj Auto Finance
When it comes to bikes in India, you will not find a better choice than our country's very own, Bajaj. And when it comes to a bike loan, Bajaj Auto Finance is your answer. What makes them special is that they even have schemes that provide you with 95% finance scheme with 5% down payment, depending on your eligibility. To all those who don't understand what a down payment is, it is a lump-sum amount that needs to be paid at the beginning of availing a two-wheeler loan. This amount will be deducted from the total price and the EMI is calculated for the amount after deduction. This might come as a bit of a surprise as you are theoretically paying 0 Rupees at the time of purchasing a bike.
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Moreover, for eligible customers, instant approvals are also provided, hence you don't have to go through days of painful waiting to ride the bike of your dreams. Another amount that needs to be paid at the time of availing the loan is bike loan processing fees. The two-wheeler loan interest rate bajaj finance is providing can be checked at their website bajajautofinance.com. Moreover, Bajaj Auto Finance provides you with financing for brands like KTM as well.
Whenever you are spending your hard-earned money, it is always important to do thorough research and comparison of available choices. When it comes to availing a bike loan, the scenario is not different. After paying the down payment amount (or not paying the same), the rest of the payment towards your loan is through EMI, paid once in a month. Here, it is important to know whether or not the EMI would spoil your monthly budget. This is when a two wheeler loan interest rate calculator comes in handy. It will help you calculate the EMI you have to pay using the bike loan interest rate.
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As mentioned earlier, it is always important to do the research and find a two wheeler loan interest rate that doesn't burn a hole in your pocket. The best rates of interest are provided to those with a good credit score, which is termed as CIBIL score. Hence it is important to maintain a good CIBIL score. You can check your eligibility as well as interest rate by providing minimal details. If it is convenient, you can check out a Bajaj Auto Finance office near your home as well. However, there are attractive offers for customers opting for a bike loan through the online portal.
So don't get frustrated over your bank balance, rather make a choice and flaunt that new bike in front of everyone.