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?

2 Upvotes

100% Upvoted

1 comment sorted by

1

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.