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Hero FinCorp. Two wheeler Loan:
Hero FinCorp. was founded in the name of Hero Honda FinLease Limited in 1991. It is a one-stop financial services company disbursing over 52 loans by the hour. At Hero FinCorp., you can avail loans for purchase of two-wheelers that can be customised to suit your needs. You can also choose from a variety of loan tenures and decide the down-payment amount according to your repayment capacity.
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Hero FinCorp. Bike Loan Eligibility:
For taking a bike loan from Hero FinCorp., the following criteria must be fulfilled:
- Applicant should be an Indian national.
- Applicant should be above the age of 18 years.
- Salaried applicants should be employed for a year, with a minimum of six months in the current place of employment.
- Self-employed applicants should be in the current business for a minimum duration of one year.
- The minimum monthly income of the applicant should be Rs.10,000, to be eligible for the loan.
Also Read: Two Wheeler Insurance.
Hero FinCorp. Bike Finance Features:
Hero FinCorp. two-wheeler loans are available for borrowers with the following features:
- Loan Amount: The Company covers 85% of the vehicle’s price as the loan amount under the two-wheeler loan plan.
- Repayment Period: Hero FinCorp. allows borrowers taking a loan for purchase of two-wheelers to make the loan repayment up to a tenure of 5 years.
- Loan Approval: Two-wheeler loans at the financing company is processed in a span of 24 to 48 hours. The processing and approval at Hero FinCorp. also depends on the validity of documents submitted and verification followed after that.
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You may also be interested in Bike Insurance.
Documents Required for Hero FinCorp. 2 wheeler Loan:
The following documents are required when applying for a two-wheeler loan:
- Duly filled application form with a single passport sized photograph.
- Identity proof including IDs issued by the government, Passport, Driving License, Voter’s ID, etc.
- Income proof such as Salary Certificate, ITR or Form -16 or anything serving as income proof for both salaried and self-employed applicants.
- Genuine KYC documents.
FAQs
- I am 17 years old and looking for financing the purchase of a two-wheeler from Hero FinCorp. Will I be eligible for applying for the loan?
No, you should be above the age of 18 years to be able to be eligible for a two-wheeler loan from Hero FinCorp.
- What is the percentage of loan that I can avail from Hero FinCorp. under a two-wheeler loan scheme?
You can get up to 85% of your two-wheeler’s price if you take a loan from the company.
- What is the maximum repayment tenure that I can opt for when I take a two-wheeler loan from Hero FinCorp.?
The maximum repayment tenure on a two-wheeler loan from Hero FinCorp. is five years.
- How much time does a two-wheeler loan take to be processed at Hero FinCorp.?
It takes about 24 to 48 hours for a two-wheeler loan to be processed.
- I have a monthly income of Rs. 8500. Will I be able to get a two-wheeler loan from Hero FinCorp.?
No, the eligible monthly income for two-wheeler loans at the financing company is Rs.10,000.
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