Abstract: The folding bicycle which includes front and rear wheels and a sprocket and pedal assembly mounted to a frame and a steering column and a seat column mounted to such frame, is provided wherein the seat column and the steering column fold into proximity with the frame and substantially in the plane of the frame, while the rear wheel and sprocket assembly pivot around the sprocket axis into proximity with the frame and the front wheel, also in the plane of such frame.The seat column has a bend or goose neck below the seat thereof to permit the seat column when folded toward the steering column, to curve around the base portion of the steering column and permit the steering column to fold thereover in planar proximity.Other features of the planar folding bicycle include foldable handle bars and foldable pedals and a sprocket belt drive which is positioned against the drive gear of the rear wheel by an adjustable nip guide roll.