Axis Bank Will Now Provide Loans Specially For Superbikes above the 500cc mark which helps get them into the niche of the superbike market which have large transactions
Axis Bank, the third largest private sector bank announced the launch of SuperBike Loans for 500cc & above bikes. This marks the entry of the bank into this growing and popular leisure biking segment.
The Product Offering of the bank has Loan to Value Ratio of up to 95% of the bike cost including accessory funding with special offers & programs for their own HNI customers.
Super bikes like Harley Davidson, Triumph are brands that many in India aspire to own along with others. Axis bank is making possible that this should most superbikes aspirers should be able to get it.
The trend of riding clubs & adventure biking activities surrounding with superbikes is further adding to the popularity quotient of the segment. The average age of customers in this segment is now at mid 30’s down from the age of early 40’s a couple of years back.
Axis bank with one of the strongest presence in semi urban & rural geographies would also reap benefits of the fact that the demand for big bikes is not just limited to the metros but has also reached tier-II and tier-III cities. The network expansion of big bike manufacturers to the tier-II and tier-III cities underlines the fact that the market is not confined to a particular geography.
This should help the bank gain exclusive traction as the superbikes sales, as we know, continue to grow. The manufacturer like Triumph ,Ducati, Kawasaki are making the most desirable bikes and getting them into the Indian market at an affordable price.
These loans which cover most of the hassle should make things easier for superbike aspiring owners. Harley Davidson, Benelli and Indian Motorcycles are also catching up and have their own unique traits which help them grow.