When you think about it, two-wheelers are one of the best and trusted companions all over the country. During the day or night, you see bikes on the roads. They are not just helpful for commuting, but you also use them for leisure rides, racing, long-distance travel, and off-road riding.

Thanks to banks offering a Two-Wheeler Loan to customers, it has become easier to buy a bike. It is easy to apply and specially designed to ensure you can buy your dream bike or scooter. You also find schemes with attractive repayment options. You need to repay the amount in monthly instalments. Following are some reasons to apply for it:

Safety and affordability

Banks offer a safe, secure, and transparent borrowing option regulated by government and Reserve Bank of India guidelines. The charges are evident, along with your repayment schedule. You can apply for the Loan at attractive interest rates and pocket-friendly repayment methods. The amount credits to your Bank Account instantly after successful document verification and fulfilment of eligibility criteria.

Fulfils dreams

A bike that you aspire to own is now a reality. You can apply for a Bike Loan with affordable instalment payment methods. Whether it is the festive season or any special occasion, you can always fulfil your dream with attractive offers from banks.

Emergency corpus

The bike cost is substantial. You need to pay money to enjoy a ride and own it. Instead of using your savings, applying for a Loan helps you free up your funds. Keep cash aside as emergency corpus or urgent requirements. You can repay the Loan in easy and pocket-friendly instalments over 12 to 48 months.

Investment

You can use the available funds for investing in instruments of your choice, including Mutual Funds, Bonds, Stocks, etc. You earn decent returns and build savings for education, marriage, or retirement.

Financial discipline

When you need to pay your monthly instalments to the bank, you ensure you have sufficient funds in your account. It helps you plan your expenses and savings better, and you learn financial discipline in the long run.

Tax benefits

If you are a self-employed business person or professional, you can claim tax benefits on interest repayments and depreciation benefits on your two-wheeler. It applies when you use your two-wheeler for business or professional purposes. Expenses like Insurance, fuel, maintenance, and Two-Wheeler Loan interest repayments get deducted from your profits.

Conclusion

Pay your instalments timely and ensure you have a good credit rating while applying for Loans from reputed banks to get the best deals. You can also select the online application and repayment facilities offered by them.