Purchase a Stylish New Bike on EMI

Owning a bike is nothing short of an achievement. It is the first purchase we make as we start earning and it gives us wings to fly. There is unbeatable joy and pleasure in driving down the bike on city lanes. Whether you use the bike for commute or love to head out on adventures, your bike will become your partner for everything. If you want to own a bike, you do not need to worry about the budget or the financial stress it will put on the family. Simply apply for a loan and own a bike on EMI. The loan is designed to help meet your dreams and it has a high amount. The two wheeler loan is a popular choice of many who want to own a stylish new bike. It is available for all brand and types of bikes in the industry.

Now that you have made up your mind to own a bike, you must start by researching the market. Look at all the available options and shortlist the ones that fit your needs. You must consider your usage and budget when shortlisting the bikes. Head to different dealers and check out the available options. You must take a test drive in them to ensure that you are making the right decision. There are two main types of bikes available in the market - economy and premium. If you are buying a bike for commute purposes and you are not going to take it outside of your city, it is best to invest in an economy model. However, if you want to own a bike for adventures across the hills and go on long road trips, you should invest in a premium bike model which has a high engine capacity. Always choose a bike that requires low maintenance.

Once you finalise on the bike model, you need to make down payment for the same. Every lender has a down payment requirement you need to meet. This will reduce the loan amount and make it easier for you to make the repayment on time. You can choose to make the minimum amount of down payment on the loan. Before you proceed with the loan application, you need to compare the eligibility criteria and interest rates of different lenders. Most lenders require you to be above the age of 21 and have a valid driving license. You can apply for the loan from the comfort of your home. Simply fill the application form and provide documents of identity proof, income proof, address proof, invoice of the bike and down payment documents. Your loan application will be processed and approved in 24 to 48 hours and you will be riding your brand new bike home in no time.

This is the easiest way to buy bike on EMI. You must remember to use the EMI calculator to get an insight into the amount payable each month. You will have to repay the loan in EMIs and the amount will be distributed across the tenure. The calculator is a free tool available to help make the right borrowing decision. You simply need to provide the loan amount and tenure and you will get a quick estimate. If you think that the EMI amount is very high or low, you can change the inputs until you reach the optimal output. The calculator will help you prepare for the EMIs when the loan application is approved. Remember that timely payment of dues will help build a strong credit score and will make it easier for you to enjoy loan approvals in the future.