L&T Finance Holdings, key non-banking financial company (NBFC), has introduced Super Bike Loans at 5.99 percent per annum. This loan will provide funding of up to Rs. 20 lakhs with a flexible tenure of up to 60 months. All Super Bike manufacturers will be covered under this loan scheme.
Sanjay Garyali, Chief Executive – Urban Finance stated that the launch of Super Bike Loans is intended to increase access to high-performance motorcycles for bike lovers around the country.
The NBFC expects this segment to grow at around 15-18 percent Compound Annual Growth Rate (CAGR) over the next 3-5 years, fuelled by improvements in road infrastructure and increased consumer purchasing power.
These loans will be applicable to all superbike models, ensuring that clients across the country may take advantage of this offer. LTFH loan providers will not charge a premium to self-employed consumers; all customers need to do is supply their banking information, which will be digitally processed. The loan approval turnaround time (TAT) is also kept at less than 24 hours, which is much faster than the industry norm of 6-8 days.
Its offering is provided throughout the country, and the company expects increased demand in Mumbai, New Delhi, Kolkata, Pune, Hyderabad, Chennai and Kochi.
