pdp-home-loan

How Bikes Are Transforming Daily Commutes in India

Riding a bike is not just about commuting; it’s about the experience, the thrill, and the unmatched convenience. Whether you are navigating the bustling city streets or heading for a long ride on the highway, a good bike can be your perfect companion. With so many options available, finding the right one that fits your style and budget might seem overwhelming. But fear not—we’ve researched for you. And if financing is on your mind, flexible bike loans can help make your dream of owning the best bike under 1.5 Lakh a reality. Let’s explore the top bikes under 1.5 Lakh in India that combine performance, style, and affordability.

Bikes Under 1.5 Lakh in India: Models, Features, and Prices

Here’s a curated list of bikes under 1.5 Lakh, offering great value for money while meeting diverse riding preferences. Whether you're a speed enthusiast or a commuter seeking efficiency, there’s something for everyone.

ModelEnginePowerTorqueFeaturesEx-showroom Price (Approx.)
Bajaj Pulsar NS200199.5 cc, Single-cylinder24.5 PS @ 9750 rpm18.5 Nm @ 8000 rpmLiquid-cooled engine, Fuel injection, Digital instrument cluster, Dual-channel ABS₹1.35 - ₹1.45 Lakh
Yamaha FZS-FI149 cc, Single-cylinder12.4 PS @ 7500 rpm13.3 Nm @ 5500 rpmFuel injection, Digital instrument cluster, LED headlight, Single-channel ABS₹1.15 - ₹1.25 Lakh
TVS Apache RTR 160 4VTVS Apache RTR 160 4V 159.7 cc, Single-cylinder17.53 PS @ 9000 rpm14.73 Nm @ 7250 rpmDual-channel ABS, Slipper clutch, Digital instrument cluster, LED headlight1.20 - ₹1.30 Lakh
Honda CB Hornet 160R162.7 cc, Single-cylinder15.03 PS @ 8500 rpm14.76 Nm @ 6500 rpmFuel injection, Digital instrument cluster, LED headlight, Single-channel ABS₹1.10 - ₹1.20 Lakh
Suzuki Gixxer SF 250249 cc, Single-cylinder26.5 PS @ 9000 rpm22.2 Nm @ 7500 rpmLiquid-cooled engine, Fuel injection, Digital instrument cluster, Dual-channel ABS₹1.60 - ₹1.70 Lakh (May exceed 1.5L in some variants)
Hero Xtreme 200S199.6 cc, Single-cylinder18.1 PS @ 8500 rpm17.1 Nm @ 6500 rpmLiquid-cooled engine, Fuel injection, Digital instrument cluster, Single-channel ABS ₹1.25 - ₹1.35 Lakh
Royal Enfield Meteor 350349 cc, Single-cylinder20.2 PS @ 6100 rpm27 Nm @ 4000 rpmAir-cooled engine, Fuel injection, Analogue and digital instrument cluster₹1.90 - ₹2.10 Lakh (May exceed 1.5L in some variants)

Why Choose These Bikes?

  1. Affordability: These bikes offer excellent value within the 1.5 Lakh price range, ensuring you get premium features without overspending.
  2. Performance: With powerful engines and cutting-edge technology, these bikes cater to diverse riding styles.
  3. Stylish Features: From retro designs to advanced digital instrument consoles, these models excel in aesthetics and functionality.
  4. Loan Accessibility: Availing a bike loan is seamless, making these bikes under 1.5 Lakh even more accessible.

Eligibility for a Bike Loan

Eligibility criteria for a bike loan vary by lender but generally fall into the following categories:

CriteriaSalaried IndividualsSelf-Employed Individuals
Age21 to 58 years21 to 65 years
Minimum IncomeRs. 1.44 Lakh per yearRs. 2.5 Lakh per year
Employment StatusMinimum 1 year of experienceMinimum 1 year in the same line of business
Bank Statement3 months bank statement3 months bank statement

Documents Required for Bike Loan

Here are the documents generally required for applying for a bike loan:

Document TypeSalaried IndividualsSelf-Employed Individuals
Office/Business ProofNot ApplicableUtility Bill/Shop Act Certificate
Income ProofLatest Salary Slip, Form 16Latest ITR
Bank StatementLast 3 months bank statementLast 3 months bank statement
Age ProofPassport, Birth Certificate, PANPassport, Birth Certificate, PAN

How to Apply for a Bike Loan?

Follow these steps to apply for a bike loan effectively:

  1. Check Eligibility: Ensure you meet the lender's criteria, including age, income, and credit score.
  2. Calculate EMI: Use an online bike loan EMI calculator to estimate your monthly repayment.
  3. Gather Necessary Documents: Prepare all required documents, including ID proof, income proof, and bank statements.
  4. Apply Online or Offline: Complete the loan application form by visiting the lender’s website or branch.
  5. Await Approval: Once submitted, the lender evaluates your application and notifies you of the approval status.

Conclusion

Finding the best bike in India under 1.5 Lakh is easier when paired with the right bike loan. With flexible financing options, affordable EMI plans, and simplified application processes, owning a bike is no longer a distant dream. Explore the top bikes under 1.5 Lakh in India, pick your favorite, and hit the road with confidence. Remember, financial planning is key to making your biking dreams a reality!

Know moreApply now

Frequently Asked Questions

1. Are Two-Wheeler Loans available for bikes under ₹ 1.5 Lakh?

Yes, most lenders provide bike loans for bikes under ₹ 1.5 Lakh. These loans typically cover 90%- 100% of the ex-showroom price.

2. What minimum down payment is required to finance a bike under ₹ 1.5 Lakh?

The minimum down payment varies by lender but is generally around 10%-15% of the bike’s ex-showroom price.

3. Can I get a bike loan with a low credit score?

Yes, though a low credit score might lead to higher interest rates. Having a co-applicant or offering a higher down payment can improve approval chances.

4. What is the loan-to-value (LTV) ratio for a bike loan?

The LTV ratio typically ranges from 80% to 100%, depending on the lender and the bike’s value.

5. What is the interest rate for a Two-Wheeler Loan?

The interest rates for bike loans typically range between 8% and 16% per annum, depending on your credit profile and lender.

6. What is the repayment tenure for a Two-Wheeler Loan?

Repayment tenures usually range from 12 to 48 months, offering flexibility based on the borrower's preference.

7. Can I prepay my Two-Wheeler Loan?

Yes, prepayment is allowed, but it may involve nominal charges. Confirm the terms with your lender before proceeding.

8. How can I calculate the EMI for a Two-Wheeler Loan?

Use a bike loan EMI calculator by entering details like loan amount, interest rate, and tenure to estimate your monthly repayments.