Owning a super bike is easy with the right kind of loan 

5 MinsOct 25, 2021

If your dream ride is cruising through mountains and valleys with the wind in your hair, then a superbike is the best option for you. It is fit for the rough terrian and you can feel one with the natural surroundings.

the right kind of loan

Keeping that the requirement for a superbike owner is different from that of an ordinary scooter or bike, banks today offer loans specifically for superbikes. For instance, Axis Bank’s loan that is tailored for superbike offers a higher loan amount and a longer repayment tenure, as compared to a regular two-wheeler loan.

Features of Axis Bank Super Bike Loan:  

  • Minimum loan amount- Rs.1 lakh. 
  • Minimum tenure -1 year and maximum tenure-5 years 
  • Loan available for up to 85% of the vehicle cost 

Compared to this the regular two-wheeler loan is available for a maximum period of 4 years and the minimum amount is much lesser at Rs 25,000. 
But given the higher cost of the superbike, the minimum income requirement to be eligible for a superbike loan is also higher. It is Rs 4.8 lakh annually if you are a salaried individual and Rs 4 lakh if you are a non-salaried individual.

These features make it possible for you to buy a superbike of your choice and repay at your convenience, without too much strain on your budget. 

In addition to the cost of the bike you may also need to budget for the following: 

Proper riding gear
Wearing the proper gear is essential while riding any two-wheeler. It is infinitely more so when riding a superbike. Helmets are a must, of course, on any two-wheeler, but riding a superbike without a jacket, proper riding pants, boots, gloves, elbow guards, and knee guards would be a folly. Given that a crash on a superbike is likely to be at high velocity, most experts also recommend wearing chest and back/spine protectors. Most of this riding gear is quite expensive. So when you buy a superbike, be prepared to spend money on the extra gear too. 

Spares and service
Unfortunately, superbikes are not designed for Indian roads. As a result, wear and tear on the parts are likely to be higher and service requirements more frequent. Keep in mind that spares will not just be expensive but often difficult to come by. Servicing a superbike is also costs a pretty penny.

[Also Read: It’s A Great Time To Buy A New Car]

Superbikes tend to require high octane fuels. These are not readily available even in metros and are even more difficult to find on the highways. So, if you are thinking of long road trips, plan them keeping in mind fuel availability. Also, be aware that high octane fuels are far more expensive than ordinary petrol.

Your dream of owning a superbike is possible with Axis Bank Super Bike loans. They offer a high loan-to-value ratio, minimal documentation, quick disbursals, and EMIs to suit your pocket. To know more about Axis Bank Super Bike Loan click here. 

Disclaimer: The Source, content creation and curation firm has authored this article. Axis Bank does not influence the views of the author in any way. Axis Bank and The Source shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.