This Diwali, you have the opportunity to own a personal two-wheeler, even on a tight budget. If you wish to upgrade from public transport or expensive cabs, you will require your own transport. If you are searching for an entry level motorcycle to start your journey, you may look at the Hero Splendor Plus, an under-100cc (97.2 cc) vehicle that can transport you 60km to the litre. Check the Hero Splendor Plus bike price, and if it seems somewhat out of reach, think about the country’s best two-wheeler loan.
The best way to buy a motorcycle, even on a tight budget, is to book the two-wheeler on easy emi. Bajaj Mall offers you the luxury to book a bike online and complete the purchase offline through our partner network store. Depending on your needs, you can choose from a range of models available to book online. Bajaj Mall also offers some exciting offers on your purchase at the comfort of your home.
Before settling for an EMI, though, read through the specifications of this motorcycle. The price of this light, 112kg, bike is between Rs 70,924 and Rs 73,255, ex-showroom and with a great mileage, its 9.8 litre capacity fuel tank will take you a long way. For that, the Hero Splendor Plus bike price is modest indeed.
The bike is available in 4 variants and 10 colours. The engine is green, with BS6 certification, and when you get 7.91 bhp of power, you realise that long travels will be enjoyable. No wonder that this is Hero Motocorp’s best-selling product. The price may prompt you to book the two-wheeler on easy emi. Here are some guidelines on how to get a great loan in quick time and without any hassles in tow.
There are many special features of the two-wheeler loan scheme. Here are the top ones.
100% funding of on-road price
This loan allows you to get between Rs 35,000 and Rs 20 lakh as loan. If you have met all necessary requirements, you will get 100% of the on-road price.
On-road price includes the ex-showroom price, plus insurance, road tax, accessories, documentation charges, and other miscellaneous charges. This generally increases the on-road price, and this loan scheme covers all that.
Credit score unimportant
If you are worried that your CIBIL score may not be up to the mark, be informed that there is no minimum credit score requirement for the loan approval in some cases. Remember, though, that if your score is below 720, it just might result in you being sanctioned a lower loan amount. If you have met other eligibility criteria, you loan application will not be rejected.
You get a long tenure
Whatever the Hero Splendor Plus bike price, you will be allowed a long enough tenure to pay back your loan. This can extend up to 60 months. That allows you to reduce your installments to an extent where your budget remains barely touched. This is one of the perks of booking the two-wheeler on easy EMIs.
While doing this, though, keep in mind that you should not just click the longest tenure instinctively. Interest rates vary between 9.25% and 14%, depending on your profile and on the tenure that you choose. While the principal payback for long tenures is less, the interest component will be larger. So carefully balance the tenure and interest rate, so you do not end up paying too much overall, or even restrict yourself with a high EMI in a very short tenure.
Read up about the bike and get to know the on-road price before applying for the loan. That will enable you to know how much, exactly, you need as a loan from Bajaj Finserv.