June 5, 2023

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Ten times more loans were taken out than on bicycles five years ago: this is how much interest in euros you pay per month | MyGuide

Spaargids.beTen years ago it was still a rarity, and now it’s the most common thing in the world: getting a loan to buy a bike. This is because the sale of electric bikes is on the rise and they are simply much more expensive than the classic two-wheelers. Spaargids.be Weigh the pros and cons of such a loan for you.

By Johan Van Geyte, in association with Spaargids.be


The cost varies

The price of an electric bike with pedal assist up to 25 km / h strongly depends on the model chosen. The majority of offers can be found in the class between €1,000 and €2,500. For the so-called Speed ​​pedelec, which offers pedal assist up to 45 km / h, you can count on € 3,000 up to € 10,000.

Ten times more bike loans were taken out in Belvius last year than five years ago. The average amount borrowed for a bike loan from this bank was 3,672 euros. The average borrower was 45 years old; A quarter of bike loans were taken out by people under the age of 35.

Read also: Corona Direct is no longer an independent insurance company and is merging into Belfius.

current ratings

The price for a bike loan is usually the same as for an eco car. According to Spaargids.be data, you can actually get a loan with an interest rate of 3.45%.

If you borrow €3,000, and pay it back in 30 months, you will face monthly payments of €104.44 for 2.5 years. After that you will pay 133.20€ interest or 4€ per month.

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Comparison tip: Spaargids.be lists the cheapest bike loans from various banks for you.

Payback period

Those who handle it smartly, don’t have to consider it an expense. It can be an investment that pays off quickly.

Suppose you live 10km from your workplace, then you can get €1,350 in tax-free travel allowances on an annual basis, if your employer pays the bicycle limit of €0.27 per km. In this case, a bike worth 3,000 euros will be paid for by the employer in just over two years.

If the reimbursement is limited to €0.27 per kilometer, it is exempt from social security contributions and no taxes have to be paid on it. The maximum is 40 km per day.

But a fan of speed peddling? Which loan is the most interesting?


But there may be more. More and more employers are offering their employees the opportunity to participate in a bicycle rental contract.

In exchange for a fixed amount, they receive an (electric) bicycle, including a maintenance package (eg, technical inspection annually at an authorized repairer), assistance insurance (eg, assistance with a flat tire or flat battery) and theft insurance. After three years, for example, they can or will have the bike.

Companies often get better rental rates than individuals, because they can enjoy the benefits of group buying.

Bike assistance

As an individual cyclist, you can also take out bike insurance, for example if your bike is stolen or seriously damaged. Assistance insurance is also an interesting option. This formula is useful in the event of a battery failure or a flat tire needing to be replaced. After all, the latter is more difficult with an electric bike than with a classic bike.

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Premium less than 50 euros: Here you will find the prices and terms of the different formulas for assistance in the event of a bike breakdown.

Read more at Spaargids.be:

The number of mortgage loans in our country is at a historically low level

Borrowing for a Swimming Pool: What Are Your Options?

Planned energy renewal? Belfius lowers (temporarily) the loan rate

This article was brought to you by our partner Spaargids.be.
Spaargids.be is an independent comparator of bank products and looks for competitive pricing and better interest rates.