Can I customise my superbike loan to suit my needs?

Yes, most banks, Non-banking Financial Companies (NBFCs) and financial institutions allow applicants a fair degree of flexibility to customise superbike loan offerings to suit individual requirements:

• Loan Amount: Your financial capacity determines whether you can apply for financing between 70% and 100% of a superbike model's ex-showroom or on-road price.
• Tenure Options: Repayment tenures typically range from 12 to 60 months. But, it can be higher. Shorter tenures may lead to quicker ownership, while longer tenures often result in lower Equated Monthly Instalments (EMIs).
• Interest Rate: Depending on credit score, income level and employer profile, applicants can negotiate competitive interest rates through talks with relationship managers. If you are an existing customer, you can leverage your loyalty to negotiate better terms.
• Foreclosure Terms: Many loan providers allow partial or full prepayment without extra charges, providing flexibility to foreclose or transfer loans whenever needed.
• Top-Up Loans: Once your loan nears maturity, you can apply for a top-up to buy a higher variant or more advanced superbike model.
• Fixed vs. Floating: Choose between fixed rates, which lock interest rates for the entire tenure, and floating rates linked to benchmarks, which fluctuate.

Before zeroing in on a loan provider, analyse all parameters, including eligibility criteria, interest rates, charges, loan amount, tenure options, etc."