Honda Shine 125 : If you’re planning to buy a Honda Shine 125cc bike on loan, understanding the EMI (Equated Monthly Installment) structure is crucial. This popular bike is a preferred choice for many, especially those in food delivery and bike taxi services, due to its fuel efficiency and reliability.
Honda Shine 125cc Variants and Ex-Showroom Prices
The Honda Shine 125cc is available in two variants: Drum and Disc. The Drum variant has an ex-showroom price of ₹86,591, while the Disc variant is priced at ₹91,343. The Disc variant comes with enhanced braking performance, making it a better option for those who prioritize safety.
On-road prices vary depending on location. For instance, in Jaipur, the Drum variant costs around ₹1,00,435, and the Disc variant is priced at ₹1,05,643. Most banks and financial institutions offer loans covering up to 90% of the ex-showroom price, with repayment tenures extending up to 7 years.
Key Features of the Honda Shine 125cc
The bike is powered by a 123.94cc engine, delivering a claimed mileage of 55 kmpl, making it an economical choice for daily commuters. It comes with a 5-speed manual transmission and weighs 113 kg, ensuring easy handling.
Other notable features include:
- A 10.5-litre fuel tank for longer rides.
- A seat height of 791 mm, providing comfort for riders of different heights.
- Reliable performance suitable for both city and highway rides.
Bike Loan Interest Rates – SBI and Other Banks
State Bank of India (SBI) offers bike loans at interest rates ranging between 13.15% and 14.65%. For electric bikes, buyers get an additional 0.50% discount. Meanwhile, SBI’s Super Bike Loan Scheme provides slightly lower rates, starting from 12.65% to 14.15%.
Other banks and NBFCs (Non-Banking Financial Companies) also provide competitive rates, so comparing options before finalizing a loan is advisable.
EMI Calculation for Honda Shine 125cc
For the Drum Variant
- Loan Amount (90% of ex-showroom price): ₹77,931
- Loan Tenure: 6 years (72 months)
- Interest Rate: 13.15%
- Monthly EMI: ₹1,571
- Total Interest Paid: ₹35,150
For the Disc Variant
- Loan Amount (90% of ex-showroom price): ₹82,208
- Loan Tenure: 6 years (72 months)
- Interest Rate: 13.15%
- Monthly EMI: ₹1,657
- Total Interest Paid: ₹37,079
Factors Affecting EMI
- Down Payment: A higher down payment reduces the loan amount and EMI.
- Loan Tenure: Longer tenures decrease EMI but increase total interest.
- Credit Score: A good credit score can help secure lower interest rates.
Conclusion
Purchasing a Honda Shine 125cc on EMI is a convenient option for many. With a monthly EMI starting from ₹1,571 (for the Drum variant) and ₹1,657 (for the Disc variant), it remains an affordable choice. Before finalizing a loan, compare interest rates from different lenders and choose a repayment plan that suits your budget.
