Can I customise the loan terms based on my business needs?

Yes, most banks, Non-banking Financial Companies (NBFCs) and financial institutions offer flexibility in customising two-wheeler business loan terms based on your repayment ability and specific requirements. You can choose from the options given below:

• Loan amount: Some may allow financing up to 100% of the on-road price of the two-wheeler. However, some loan providers may fund up to 85-90%, requiring the balance as a down payment from your end.
• Repayment tenure: According to your business's income cycle and cash flows, choose a suitable repayment period, usually between 12 months and 60 months or more. A longer tenure means lower Equated Monthly Instalments (EMIs).
• Interest rates: Based on your credit score and financial profile, you may be offered business loans starting from 9% annually. Those with higher scores enjoy lower interest rates.
• EMI dates: You can set the loan repayment dates to coincide with periods when your business sees maximum collections and cash inflow.
• Prepayment and foreclosure: Many loan providers allow you the flexibility to prepay, partly or wholly, as you choose without any penalty charges or minimum charges.

The final loan amount, tenure, interest rate, and repayment structure are based on your business profile, documents, credit score, and the two-wheeler chosen.

You can ensure comfortable repayment and efficient financing by taking advantage of a customised plan that fits your needs. Discuss your requirements openly with varying loan providers and find the one that best fits your specific needs."