The Various Perks Of Opting For Two Wheeler Finance In India

In India, it is every person’s dream to own a two-wheeler; however, increasing costs of living and rising bike prices are coming in the way of fulfilling that dream. But thanks to two wheeler finance in India, you can easily buy the bike of your dreams.

The various benefits of opting for two wheeler loan in India are, as follows:

    1. It is Safe and convenient

Post Covid-19 pandemic, when the world has slowly restarted offline, it is much safer to travel via private 2-wheeler as opposed to public transportation. After all, you can easily follow all the required safety measures such as social distancing as well as ensure that you and your vehicle are properly sanitized. Further, you don’t even have to worry about being late for the office; because you can travel via your bike according to your convenience.

    2. Flexible repayment tenure

The biggest problem with buying a bike is that it causes a huge dent in our financial budget. However, thanks to a two wheeler loan, we can now easily plan out our financial budget and repay the loan amount in the form of EMIs (Equated Monthly Installments). Further, to reduce the financial burden, banks and NBFCs (Non-banking financial companies) provide us with flexible repayment tenure; thus, allowing you to repay the loan amount over some time.

    3. Lower Interest Rates

As opposed to opting for financial assistance via traditional lenders, banks & NBFCs (Non-Banking Financial Companies) provide loans at much lower interest rates. Further, financial institutions also provide you with tools such as a two wheeler finance calculator & informative blogs. You can use the loan EMI calculator to calculate your interest rates based on your principal amount and repayment tenure. This also helps you to compare amongst lenders and find the one that provides you with the best interest rates.

    4. Build your credit history

When you apply for a two wheeler loan, and timely repay your EMIs (Equated Monthly Installments), it helps you to build your credit profile. After all, when you apply for any form of financial assistance from banks and NBFCs (Non-Banking financial companies), your credit score and history is the first thing that lenders check to gauge your repayment capability. Thus, by opting for a lower amount two wheeler finance, you can build your credit score and then, later on, apply for high-value loans such as home loans, business loans, etc.

    5. Additional Benefits

Other than getting financial benefits from two wheeler loan, you also get access to additional benefits such as accidental cover, insurance cover, etc. Further, in today’s times, there are a plethora of financial institutions that provide 100% on-road price coverage under their loan amount. There are also a number of banks and NBFCs (Non-Banking Financial Companies) that cover the cost of accessories under their two wheeler finance amount.

Hope you enjoyed reading this article regarding the various benefits of two wheeler loans in India. Good luck and all the best!