Why Bike Loan is The Best Way to Purchase a two-wheeler?

21 Oct 2022

When you decide to finally purchase your dream two-wheeler, you are stuck on the next dilemma. Should you purchase it through direct cash payment or take a bike loan? Many times, we have enough savings to purchase it without the need of a loan. However, this is not advisable because you may need the same finances suddenly for other urgent purposes. Experts will advise you to opt for a two-wheeler loan. These are affordable and secure financial instruments that help you fund your dream bike without burning a hole in your pockets. Most financial institutions in India offer the loans with more or less the same eligibility and documentation criteria, which is quite easy. The loan approval also can take as little as 15 minutes in some cases. Let us explore the top reasons why you should take a two-wheeler loan.

4 Reasons for opting for a bike loan

1. No need to settle for the next best thing: Some of you may be restricted in your options when you plan to purchase a bike through direct cash payment. This is mainly because you may not have the required amount to get that preferred bike so decide to settle for the next best thing. But why settle for an alternative when you can have what you want? You can get a bike loan starting from INR 10,000 to INR 1,00,000 from lenders.

2. Save money for other purposes: Most of you shy away from taking a loan because of interest rate. However, the interest rate for a two-wheeler loan is actually quite affordable and you can choose from various lenders. So, by paying a little extra, you at least are saved from not completely finishing your savings in one go. Savings that may be needed for other important purposes such as investments, emergencies, etc.

3. Improve financial credibility: There are several advantages of taking a loan. For example, it helps you improve your credit score. It also makes you financially disciplined as you will have to manage EMIs. Also, if you are purchasing a bike for commercial purposes, then you are eligible to claim for tax benefits as well.

4. Pay as per your pocket: Before applying for a loan, you can calculate the EMI via the EMI calculator available on the lender’s website. This calculator lets you decide on an estimate figure that you can comfortable pay off every month without hurting your budget. Lenders tend to offer a flexible repayment tenure that can be stretched as much as 48 months or 2 years. So, depending on your financial situation, you can fix up your repayment tenure.


To summarise, taking a bike loan is hundred times better than paying directly when procuring a two-wheeler. The manageable EMIs, fast approvals, discounts, and easy documentation let you get that funding without hassles. However, before opting for a two-wheeler loan make sure to do thorough research to compare and contrast the available options and choose the conditions that best match with your financial flexibility.

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