L&T Finance introduces super bike loans with competitive rates

L&T Finance two-wheeler book was Rs 10,447 crore versus Rs 8,716 crore a year back.

On March 19, L&T Finance unveiled its latest offering, Super Bike Loans, featuring attractive interest rates starting from 5.99 percent. 

The loan, which comes with a flexible tenure of up to 60 months, aims to cater to the growing demand for financing in the premium two-wheeler segment. Notably, the loan will be accessible digitally as well as through all Original Equipment Manufacturers (OEMs) across the country.

Key Features and Benefits

• Interest rates starting from 5.99 percent.
• Tenure of up to 60 months.
• Available digitally and through all OEMs nationwide.
• No premium charged to self-employed customers.

Rapid Growth in Two-Wheeler Disbursement

In the October-December quarter of FY24, L&T Finance witnessed a significant surge in disbursements in the two-wheeler segment, marking an 18 percent growth compared to the previous year. 

Disbursements totaled Rs 2,540 crore, up from Rs 2,146 crore in the corresponding period last year. The company’s total two-wheeler book also experienced robust growth, reaching Rs 10,447 crore, compared to Rs 8,716 crore in the previous year.

Expansion into Electric Vehicle Financing

In September 2023, L&T Finance entered into a partnership with electric vehicle (EV) manufacturer Ather Energy to provide financing solutions for EVs. 

This collaboration enables customers to avail up to 100 percent financing based on the loan-to-value (LTV) ratio of the vehicles offered by Ather. 

L&T Finance offers a range of product lines for EV financing, including Verified Income Proof (VIP) loan, VIP Pro Loan, Sabse Khaas Loan (SKL), SKL Pro, Centum Loan, and Express Loan.

Meeting Diverse Customer Needs

With its Super Bike Loans and EV financing options, L&T Finance aims to address the evolving needs of customers in the premium two-wheeler and electric vehicle segments. 

By offering competitive interest rates, flexible tenure, and seamless digital access, the company seeks to provide a convenient and affordable financing experience for individuals looking to purchase high-end bikes and electric vehicles.