Luxury bikes segment is getting to being a lucrative and niche business segment as far as Banks are concerned, and Axis Bank, India’s third largest private bank has jumped into the Luxury bikes segment with its Super Bike Loans product.

Bikes over 500cc will be the vehicles covered under this segment and the Axis product is providing upto 95% finance on the cost of the bike.  Axis will be targeting its high net worth customers with this product.

Exec Director of Axis, Rajeev Anand said that Harley Davidson, Triumph and the likes are renowned brands and have an immense penetration into India, in terms of likability as well as affordability.  Many people are interested in purchasing such super bikes.  Our products is aimed at fulfilling the ambitions of such clientele.

Biking clubs, and adventure riding has increased the popularity of these super luxury bikes and the average age of customers for such vehicles is between 30-40 years.  Till a few years ago, the average age was 40.

Another aspect behind launching such a product is that such purchases are not limited to metro cities and there is a substantial interest among HNI customers in tier 2 and tier 3 cities as well, as is substantiated by the presence of dealer networks and representatives in such cities, added Rajeev Anand.