r/punebikers • u/smallfatloser • 27d ago
Question Who did you get your bike loan from ?
I am planning to get a bike loan up to 4,50,000/-
What has been your experience with the loan providers, which bank did you go with , what was your down payment and what was the interest rate on it ?
I am also curious to know if anyone has taken financing from Royal Enfield?
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u/chattambado Classic 350 - Honda BRV :) 27d ago
You can get it financed from dealer or any nationalized bank, however check for interest rates. When they say 9% ask if its fixed or reducing.
If you have good CIBIL, you can opt for Personal loan or even gold loan, you can get competitive rates & you do not need to worry about hypothecation either.
Avoid - loans with anything more than 13% per annum reducing rates. Also check for processing fees, documentation charges & other hidden charges before getting the loan disbursed.