Faqs - L&T Finance

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What is a Super Bike Loan?

A Super Bike Loan provides funds to purchase high-end, premium motorcycles.

Who is eligible for a Super Bike Loan?

Eligibility for a Super Bike Loan typically requires the applicant to be an Indian citizen aged between 21 and 65, with a stable income.

What documents are required to apply for a Super Bike Loan?

The documents required for Super bike Two Wheeler Loans include Pan card, Adhaar Card, Current address proof, Bank statement (Optional. Based on loan requirement).

How much can I borrow with a Super Bike Loan?

Depending on your eligibility and the loan terms, you can borrow up to 100% of the bike’s on-road price up to ₹ 20 Lakh. The exact loan amount is determined by factors such as your income, credit score, and the bike’s value.

What is the typical interest rate for a Super Bike Loan?

The interest rate for a Super Bike Loan typically ranges from 7.99%* if you apply for a loan with us.

What is the repayment tenure for a Super Bike Loan?

The repayment tenure for a Super Bike Loan generally ranges up to 5 years, allowing you to choose a plan that fits your budget. Longer tenures reduce the monthly EMI, making the loan more affordable.

Can I get a Super Bike Loan with a low credit score?

While a higher credit score improves your chances of getting a loan at favourable terms, though the interest ratemay be higher or the terms may be strict.

Is there a processing fee for a Super Bike Loan?

Yes, there is a processing fee of up to 6% of the loan amount for a Super Bike Loan.

Can I prepay my Super Bike Loan?

Yes, you can prepay your Super Bike Loan. However, prepayment charges of up to 5% of prepaid amount plus applicable taxes apply.

What is the difference between a secured and unsecured Super Bike Loan?

A secured Super Bike Loan requires collateral, the bike itself, which is hypothecated to the lender. An unsecured Super Bike Loan does not require collateral, but it may come with higher interest rates due to the increased risk.

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