Keeping in mind the rapidly expanding superbike market, Axis Bank has announced the launch of Super Bike Loans for 500cc & above bikes. The Product Offering of the bank has Loan to Value Ratio of up to 95% of the bike cost including accessory funding with special offers and programs for their own HNI customers.
The trend of riding clubs and adventure biking activities surrounding these luxury bikes is further adding to the popularity quotient of the segment. The average age of customers in this segment is now at mid 30’s down from the age of early 40’s a few years back.
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Axis bank with one of the strongest presence in semi urban & rural geographies would also reap benefits of the fact that the demand for luxury bikes is not just limited to the metros but has also reached tier-II and tier-III cities. The network expansion of luxury bike manufacturers to the tier-II and tier-III cities underlines the fact that the market is not confined to a particular geography.
Speaking about the entry into the superbike loan segment, Rajiv Anand, Executive Director, Axis Bank, said that super bikes like Harley Davidson, Triumph are truly iconic brands that many in India aspire to own. Axis Bank is making this dream of its customers a possibility through the super bikes loans foray.