As is the case with cars, the best rate to finance your new bike is at Beo bank and amounts to 0.65%. However, this funding is only intended to buy a new electric bike for an amount of at least 1,250 euros.
Anyone who does not necessarily want an electrically assisted bicycle but a cargo bike, a racing bike, an all-terrain bike, or a folding bike can find the lowest rate in the market from Belfius, BNP Paribas Fortis (BNPPF), CBC, and KBC (0.80%), with some differences in terms of conditions. With Belfius, the minimum amount of financing must be 1,000 euros.
If the bike you want to finance does not reach such an amount, the financing offers from BNP Paribas Fortis or KBC (Brussels) should suit you: they are available for financing from 500 euros.
Attention, for once, the offers of the CBC and KBC banks are not similar. CBC offers a rate of 0.80% but only to finance an amount of at least 2,500 euros (i.e. double Beo bank).
Another notable difference: Beobank offers the highest LTV in the market, namely 120% (against 110% for the other banks). This means that the consumer can borrow more than the amount of the bicycle to be financed in order to have the cash to finance, according to his needs, one or more insurance policies, equipment to increase his visibility or ensure better protection, a padlock, etc
As a reminder, whoever buys a speed pedelec that is to say a bicycle whose electric assistance can climb up to 45 km/h (i.e. 20 km/h more than conventional electric assistance bicycles), must wear a helmet.
On the other hand, since June 1, 2019, he is no longer legally required to have liability insurance. “L’family liability insurance remains strongly recommended, however, because any damage caused to a third party must be compensated“, warns the Gracq, the group for the defense of the interests of French-speaking cyclists in Belgium.
According to statistics provided by BNPPFits customers generally borrow an average amount of 3,333 euros for an average duration of 27 months (for the financing of an electric bicycle), i.e. a monthly repayment of around 120 euros.
More specifically, anyone who borrows 3,000 euros for a period of 2 years will repay a monthly payment of 126.04 euros, i.e. a total amount of 3,024.97 euros. This means that this credit will cost him, rounding up, 25 euros. For a larger amount (5,000 euros) over a longer period (3 years), the monthly payment is 140.60 euros, i.e. a total cost of 5,061.68 euros (and a credit cost of 62 euros at the big ladle ).
Note that compared to last year, this bank has changed the conditions of its bicycle loan by lowering the minimum amount to finance from 1,250 euros to 500 euros and is no longer limited to electric bikes only.
Moreover, BNPPF makes it possible to finance, since this year, other types of gear intended for soft mobility with this loan: electric scooters, Segways, hoverboards, electric skateboards, etc. This decision was taken to support its customers in the transition to greener energy solutions, according to a press release from the bank.