Believe it or not! India’s festive season brings with it a range of attractive offers and exclusive deals from retailers, primarily in the auto sector. Be it Durga Puja, Dhanteras, Navratri, Dussehra, Lakshmi Puja, or Diwali, the festive discounts galore two wheelers and cars alike.
Unmistakable decorations, fervour, and celebrations aside, months from August to December also comprise the season of purchases. Additionally, several lenders provide rate cuts, waivers in processing fees, and attractive offers on two wheeler loans to make the best of the ongoing season.
Additional Read: Why is Festive Season the Best Time for Purchasing Two Wheelers
Even with markets abuzz and great bike deals available, you still know that the festive discounts and bonuses are unlikely to cover the costs. Hence, it is best to avail a vehicle loan. Especially if you are eyeing a coveted bike or scooter, it becomes much easier to get a bike loan during the festive season. Let’s find out why.
Lower Interest Rates
As the festive season progresses, the demand for two wheelers increases. Naturally, many lenders come forward with competitive interest rates on festive loans. These loans are likely to be more economical during high-season and offer lower interest rates compared to other alternatives. And, this provides you with easy bike finance solutions to purchase your desired two wheeler without any financial strain.
Easy EMI and Repayment Options
Unsecured festive financing provides tailored repayment schemes with superior flexibility along with zero-per cent loans and comfortable EMI facilities. Lending institutions allow borrowers to pay in equal monthly instalments and even increase the EMI as their income goes up. Several lenders also allow consumers to pre-pay festive loans without any penalty.
No Processing Fees and No down payments
Typically, applying for a vehicle loan requires minor charges to be paid upfront. Meanwhile, in festive loans, no marginal amount is generally levied during the entire purchase. Processing fee is also minimal. Some lenders also offer absolute waivers on the processing fee along with add-on benefits for borrowers securing online loans.
Besides, bike loans do not require collateral, asset, or a deposit as security against the borrowed loan amount. This means that you can buy your dream motorcycle without worrying about the down payment.
Easy Eligibility Criteria
As markets brim with consumers looking for financing solutions, lenders ensure that the eligibility criteria for festive loans are simple and achievable. All you need is basic residential and work stability, and you can get your two wheeler for personal use, business purposes, or travelling safely in times of the COVID-19 pandemic.
The Bottom Line
During the festival season, lenders offer attractive offers on loans with lower two wheeler loan interest rates, discount on processing fees, a quick application process, and flexible EMI solutions. These offerings give you more options to choose from, and also saves a significant amount of money in the long run.
Are you looking to bring home a bike and some independence this Diwali? If yes, then calculate your EMI amount with a two wheeler loan EMI calculator at Tata Capital. Apply for a motorcycle loan to enjoy flexible tenures and competitive interest rates.