Axis Bank to offer 95% finance for Super bikes

Axis Bank has launched a new loan scheme, which can be availed by customers buying bikes that have an engine capacity of 500cc and above (super bikes). Under this scheme Axis bank will be offering a loan to value ratio of up to 95% of the bike's price, including the opted accessories.

This new product comes at a time when the leisure biking segment is expected to grow at 30%, over the next three years. Axis Bank is thus trying to take advantage of this trend and hire financing options for prospective customers who are wishing to enter the premium motorcycle segment. The bank has also studied that the average age of customers in this segment has now come down to the 30s, instead of the 40s mark a few years back. This has resulted in a spike in demand for financing options for premium motorcycles in India.

The Indian motorcycle industry is apparently seeing an increased interest in the 500cc+ segment. This segment is also seeing increased participation from manufacturers like Triumph, Ducati, Harley-Davidson and BMW Motorrad, which recently started its operations in the country. With financing options being available readily, the segment is expected to come in the scope of more customers, which could result in better sales figures in the future.