100% Royal Enfield Finance Scheme for 350cc & 500cc Bikes: Royal Enfield India recently listed few finance options for buyers with tight budgets on their official website. They have listed HDFC bank, Capital First two wheeler loans, Tata Capital and Chola as their finance partners.
Clarifying the situation in easiest possible way, Royal Enfield has listed the 1-5 year plans that one could choose at the time of motorcycle purchase. Keeping things clear, the loan amount was kept INR 10,000 for every tenure.
Buyers can add an extra zero to see some actual figure that they expect from the financing authority. Rate of interest also varies with different tenures. Engine size also comes as a big factor here. It seems as they are promoting bigger 499cc engine options over the smaller 346cc option.
Buyers will be charged between 9.33% to 9.82% of interest on the 346cc models while 499cc models will attract 7.19% to 7.46% of interest rate. From all these values, it seems that they are pushing buyers to go for 2 year tenure as it carries the least interest in both the engine sizes.
If someone goes for INR 1,00,000 of loan for the new Classic 350, the effective EMI comes out to be INR 4940 (approx) for two years. All the cases will attract 2% of processing fee. EMI’s will not be charged in advance for all plans.
Additional benefits of the scheme includes minimum documentation for salaried professionals, self employed and those with no regular income proof. Loan approval is instant and top up loan is also available for accessories.
Royal Enfield is racing towards the fifth spot in India’s largest motorcycle brand list. They are offering the best in class interest rates and stretched loan repayment period of up to 5 years. They currently have a long list of variants under the Indian lineup.
Finance Scheme Details
Loan Amount, Rate of Interest, EMI
Source: Royal Enfield India