Why you should go for a two-wheeler loan this festive season

Be it reaching early at the office or navigating through the traffic quickly, two-wheelers have an extra edge compared to four-wheelers. Further, it takes common parking space, and it is economical to maintain. On top of that, the two-wheeler is now treated as a necessity, while four-wheelers are looked upon as a luxury. Post Covid-19, people prefer buying a personal vehicle over public transport, where a two-wheeler comes as a preferable option to four-wheelers. However, people are yet to recover from the harsh financial implications of the Covid-19 hit economy. Thus, a two-wheeler loan becomes the most convenient option to cover up your festive season this year.

Why go for a two-wheeler loan over cash?

  • When you go for a one-time payment, you have a constraint on your pocket and in your mind. Even if you wish to get some added features for your new bike, your cash constraint will stop you and make you compromise on fewer features.
  • A two-wheeler loan provides the required leverage so that you can buy the vehicle of your choice. Further, the two-wheeler loan interest rates are pretty competitive, and most financiers provide up to 90% finance. You make the balance payment in cash.
  • Since you must fund only 10% of the bike cost, you need not exhaust your savings into one asset. The remaining funds can be invested elsewhere to earn a higher income. You would be relieved from the financial stress of managing the emergency cash.
  • A lower down payment provides you with the opportunity to manage your monthly budget. With the EMI options, you can reduce the one-shot cash flow hit and manage the monthly cash outflow through budgets.
  • As per your financial needs, you can increase the down payment for a two-wheeler loan to save on the interest cost. Thus, you have the flexibility to choose the tenure and the EMI amount.

How is this festive season better for taking two-wheeler loans?

People have a spending tendency as the Diwali season approaches. To satisfy the growing thrust of buying something new, financial institutions come up with the best cashback and discount offers to attract customers. Many provide waivers on the processing fees. Bike loan eligibility is not a big deal nowadays. Add to it; you will get many tailored financial schemes, including zero percent loan, flexibility in choosing the EMI tenure, no penalty for prepayment, gift vouchers, buy-back scheme.

Many of these aspects will help you reduce your cost of borrowing, and you can focus on another festive spending. However, you should be aware of comparing one lending offer with others in terms of a loan to value ratio, interest rate, repayment tenure, prepayment charges, and processing fees.

How do financial institutions help you in applying for a bike loan?

With numerous other benefits, lending institutions help you with a quick application process. Thanks to financial innovation that provides CIBIL reports and access to banking transactions with few clicks. Thus, today the documentation requirements are minimized.

  • With two-wheeler loans, you need not spend your entire savings and restart from zero. If you have kept funds intact in fixed deposits or invested in stocks, it would not be advisable to redeem them. Instead, you can for easy EMI options using the two-wheeler loan EMI calculator.
  • Festival season, starting from Navratri to Diwali, is considered the best season for buying anything new. Be it renovating a house, buying a new bike, or investing in shares, people link it with beginning a new journey of success. To give it more power, lenders provide the best of the competitive two-wheeler loan interest rates.
  • Due to linked bank accounts, lenders also provide pre-approved loan offers. Further, the application process is simplified and quick. The disbursal is done in a few hours.
  • When you ride a two-wheeler, the most important thing is your life. Thus, many financial institutions have tied up with insurance companies to provide you with free insurance along with discounts.


This festive season, invest your funds in markets and buy a brand new two-wheeler through a loan coupled with great offers. With a two-wheeler loan, the cost of borrowing is at the lowest if you consider the opportunity cost of the cash.

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