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Harley Davidson India said it has signed a Memorandum of Understanding (MoU) with private lender ICICI Bank for financing its broad spectrum of services, including launches and operations in India.

As per the MoU, the two parties will be involved in consumer financing, dealer financing and providing banking services to Harley Davidson India.

‘We are delighted to partner with ICICI and are confident that our customers will be well served by their pan-India network,’ said Harley Davidson India Managing Director Anoop Prakash.

The Bank will provide finance to the company’s customers starting at 11 per cent for a period of upto five years, with a starting EMI of Rs 12,845 per month for a 2010 XL883 Low Sportstar.

The company also said that all its showrooms will be ready in the country by June this year.

Harley Davidson plans to open dealerships in Delhi, Mumbai, Bangalore, Hyderabad and Chandigarh with the aim of increasing the dealerships to more than 20 in the next five years.

The US-based motorcycle brand will enter into the country with its full range of five motorcycle families, the Sportstar, the Dyna, the VRSC, the Softail and the top-of-the-range Touring series and will launch Twelve models of Harley-Davidson in India.

The bikes are priced in the range of Rs 6.95 lakh and Rs 34.95 lakh ex-showroom.

While bookings begin in April, Harley-Davidson will start delivering the motorcycles from June.

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