Benelli is going to launch Benelli 302S as the replacement of the Benelli TNT 300, which was discontinued as BS6 norms came into effect. Benelli 302S was expected to be launched in 2020, but because of the pandemic, it couldn't. Now, it is expected to be launched around May 2021 with an expected introductory price of Rs 3.30 lacs.

2021 Benelli 302S Features

It will feature digital and analog control including a digital speedometer, digital odometer, analog tachometer, digital trip meter, low battery indicator, low oil indicator, low fuel indicator, digital fuel gauge, and digital clock. This bike will have a dual-channel Anti-lock Braking System.

Engine

2021 Benelli 302S will be powered by a liquid-cooled, inline 2 cylinder, four valves, DOHC, 300cc, fuel-injected, BS6 compliant engine with a 6 speed manual transmission gearbox. It will likely produce a maximum power of 30 PS at 11000 rpm and a maximum torque of 25.6 Nm at 9750 rpm.

Electricals

The bike will have all-LED headlights, taillight, and turn indicators.

Wheels, Tyres, Brakes and Suspension

The front and rear alloy wheels of 431.8 mm size are equipped with 110/70 R17 front and 150/60 r17 tubeless tyres. The front and rear disc brakes of diameters 260 mm and 240 mm respectively are going to be featured with a dual-channel Anti-lock Braking System.

This sportbike will be built upon a trestle in steel tube chassis with Ø 41 mm Upside Down front and rear swingarm with Central shock absorbers.

Dimensions and Weight

The length, width, and height of the sportbike will be 2150 mm, 785mm, and 1115 mm respectively. It will provide a ground clearance of 165 mm and a wheelbase of 1410 mm. It will have a fuel tank of 14 liters capacity and a kerb weight of 209 kg.

Benelli 302S Loan Information

The customer can get a loan for Benelli 302S either up to 100% of the ex-showroom price or up to 85% of the on-road price. The on-road price is the total amount including the ex-showroom price, registration charges, road tax, RTO charges, insurance, number plate charges, and other applicable charges.

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Availability of Maximum Loan Amount at Various Banks

The maximum loan availability at Axis Bank, Bajaj Auto Finance, and Bank of India is up to 100% of the ex-showroom price. On the other side, some of the banks like HDFC Bank, Allahabad Bank, Andhra Bank, Union Bank, Indian Bank, and Karnataka Bank provide maximum financing of up to 85% of the on-road price.

The maximum loan amount eligibility at State Bank of India is up to 75% of the on-road price, at Punjab National Bank that's up to 90% of the on-road price, at IndusInd Bank up to 95% of the ex-showroom price and at United Bank that is up to 90% of the on-road price.

Annual Rates of Interest at different banks

The annual interest rates at different banks are different. The minimum interest rates provided by some of the banks are listed below:

Bank of India @ 7.45%, Karnataka Bank @ 8.48%, Andhra Bank, Union Bank of India and Corporation Bank provides two-wheeler financing @ 9.90% rates, HDFC Bank @ 9.10%, Punjab National Bank @ 9.55%, Axis Bank @ 10.8% and the State Bank of India @ 16.05%.

These are the minimum interest rates provided by the banks, these are not the final rates, because interest rates can vary according to the CIBIL score of the customer, customer's credit history, and other bank's policies. Show so you can visit the branch and can apply for the eligibility and you will get eligibility details like the availability of loan amount, interest rate, and loan tenure.

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Loan Tenure

The maximum loan tenure ever provided for a two-wheeler can be 5 years, but not more than that. But in special cases, like financing for an electric two-wheeler, some of the banks and financing companies extend the loan tenure, but not for fuel-based two-wheelers.

A few banks like Punjab National Bank, Axis Bank, Andhra Bank, Allahabad Bank, Bank of India, United Bank of India, Karnataka Bank, Indian Bank, and Jammu and Kashmir Bank offer two-wheeler financing for a maximum of 5 years. HDFC bank offers two-wheeler financing for a maximum of 4 years and State Bank of India IndusInd Bank Union Bank of India and Corporation Bank provide two-wheeler financing for a maximum of three years.

Loan EMI Calculation

The loan EMI calculation for different values of loan amount annual rate of interest and loan tenure is given below, which includes details like monthly loan EMI, total interest, and total payable amount. You can calculate any bike/car's EMI / Down Payment using our Loan EMI Calculator.

Suppose the customer is getting 100% financing of the ex-showroom price, for Benelli 302S, at a 9.10% annual rate of interest for a tenure of 3 years, then the customer will pay the remaining amount of the on-road price down payment before the loan repayment procedure starts. The monthly EMI of Rs 10,500 will be paid by the customer for three years as loan repayment. The total payable amount for this loan will be Rs 3.78 lacs including the interest of Rs 48,000.

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If the customer is eligible for a loan of Rs 3 lacs at an 11.85% annual rate of interest for the tenure of 5 years, then the remaining amount from the on-road price of Benelli 302S will be paid by the customer as a down payment. The total amount of Rs 3.99 lacs will be paid by the customer in monthly EMIs of Rs 6,600 for the period of 5 years. The total interest payable for this loan amount and interest rates for 5 years is Rs 99,000.

The loan EMI calculation is very easy using the loan EMI calculator. You will just have to put the values of the loan amount, interest rates, and loan tenure and you will get calculated monthly EMI, total payable interest, and total payable amount.