Hero FinCorp Two-Wheeler Finance

Hero FinCorp is a financial services company that offers two-wheeler loans at attractive rates of interest. The loan amount that can be availed of by an applicant ranges between Rs.10,000 and Rs.3.50 lakh.

The loan repayment tenure for the Hero FinCorp Two-Wheeler Loan goes up to 60 months. Up to 95% of the on-road price of the bike may be provided as a loan.

At Hero FinCorp., you can avail yourself of loans for the 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. 

Hero FinCorp Two-Wheeler Loan Interest Rate

Category

Details

Interest Rate

Up to 36% p.a.

Maximum Loan Amount

Rs.3.50 lakh

Minimum Loan Amount

Rs.10,000

Repayment Period

Up to 60 Months

Processing Fee

At the discretion of the company

Prepayment Charges

At the discretion of the company

Compare with: Lowest two wheeler loan interest rate

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Features of Hero FinCorp Bike Finance

Hero FinCorp. two-wheeler loans are available for borrowers with the following features:

  1. Loan Amount: The Company covers 95% of the vehicle's price as the loan amount under the two-wheeler loan plan.
  2. 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. 
  3. Loan Approval: Two-wheeler loans at the financing company are 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.
  4. Flexible Loan Amount: You can avail a loan amount ranging between Rs.10,000 and Rs.3.50 lakh for all Hero MotoCorp two-wheelers.
  5. Quick Decisioning: Once you submit the application form, the company will take only 15 minutes to review your form and make a decision whether you are eligible to avail the loan or not.

How to Apply for a Two-Wheeler Loan from Hero FinCorp

Online Application Process

Given below is the procedure you will have to follow in order to apply for a two-wheeler loan from Hero FinCorp:

  1. Visit the official website of Hero FinCorp.
  2. On the top right-hand side of the page, click on ‘Apply Now’.
  3. Next, click on ‘Two-Wheeler Loan’.
  4. Fill in all the required details on the application form.
  5. Select the checkbox to agree to the ‘Terms and Conditions’ and click on ‘Verify OTP’.
  6. Select the Hero MotoCorp dealership from where you wish to purchase the two-wheeler vehicle.
  7. Submit the application form after the verification process has been completed.
  8. Once your application form is submitted, a representative from the company will get in touch with you.
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Offline Application Process

Follow the below process to apply for Hero FinCorp. loan offline:

  1. Visit the nearest Hero MotoCorp dealership.
  2. Talk to the representative and submit the filled-up application form.
  3. Submit all the required valid documents along with a passport size photograph.

If the documents and details in the form are correct, the representative will then contact you and will further help you with the two-wheeler loan process. 

Hero FinCorp EMI Calculator

You can visit the BankBazaar website and avail the two wheeler loan emi calculator. In order to check the EMI you will have to pay on a monthly basis based on the loan amount availed by you, repayment tenure, and the rate of interest charged by the company.

Loan amount

Repayment tenure

Interest Rate

Monthly EMI payable

Total Amount Payable

Rs.2.50 lakh

60 months

14.00% p.a.

Rs.5,810

Rs.3,49,024

You can also avail yourself of the EMI Calculator facility available on the Hero FinCorp website.

Hero FinCorp Bike Loan Eligibility

  For taking a bike loan from Hero FinCorp., the following criteria must be fulfilled:  

  1. Applicant should be an Indian national.
  2. Applicant should be above the age of 18 years.
  3. Salaried applicants should be employed for a year, with a minimum of six months in the current place of employment.
  4. Self-employed applicants should be in the current business for a minimum duration of one year.
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Documents Required for Hero FinCorp Two-Wheeler Loan

The following documents are required when applying for a two wheeler loan:

Category

Documents

Identity Proof

  1. Aadhaar card
  2. Driving Licence
  3. Passport
  4. Voter's ID card
  5. PAN Card
  6. Ration Card

Address proof

  1. Aadhaar card
  2. Telephone bill
  3. Passport
  4. Ration card
  5. Electricity bill
  6. Voter ID card

Income proof (For salaried)

  1. Pay slips (last six months)
  2. Bank statements

Income proof (For self-employed)

  1. Proof of business ownership
  2. Proof of business continuity
  3. Office address proof
  4. Bank statements (not more than six months old)
  5. Audited financials (not more than two years old)

Proof of employment continuity

  1. Offer letter
  2. Experience certificate

Passport size photograph

  1. One copy

Advantages of a Two-Wheeler Loan from Hero FinCorp

Some of the advantages of availing a two-wheeler loan from Hero FinCorp are:

  1. Loan amount of up to Rs.2.50 lakh can be availed.
  2. Competitive rates of interest. 
  3. Multiple tenure options available. 
  1. Minimum documentation required. 
  2. Several repayment modes available. 
  3. Quick and hassle-free processing of your application form and documents.

FAQs on Hero FinCorp Two-Wheeler Finance

  • 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 four years.

  • I am 17 years old and looking to finance the purchase of a two-wheeler from Hero FinCorp. Will I be eligible to apply 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 of from Hero FinCorp. under a two-wheeler loan scheme?

    You can get up to 95% of your two-wheeler's price if you take a loan from the company.

  • 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. 8,500. 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.

  • Do I need a guarantor in order to apply for a two-wheeler loan from Hero FinCorp?

    No, you do not need a guarantor in order to apply for a two-wheeler loan from Hero FinCorp.

  • Is there any way to lower my loan rate of interest?

    Yes, you can lower your loan rate of interest by increasing your bike's down-payment, improving your credit history, and applying for a loan from your existing lender.

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