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.
Hero FinCorp Two-Wheeler Loan Interest Rate
|Interest Rate||At the discretion of the company|
|Maximum Loan Amount||Rs.1 lakh|
|Minimum Loan Amount||Rs.10,000|
|Repayment Period||Up to 48 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
How to apply for a two-wheeler loan from Hero FinCorp
Given below are the steps you will have to follow in order to apply for a two-wheeler loan from Hero FinCorp:
- Visit the official website of Hero FinCorp
- On the top right-hand side of the page, click on ‘Apply Now’
- Fill all the required details in the application form and select the Hero MotoCorp dealership from where you wish to purchase the two-wheeler vehicle
- Select the checkbox to agree to the ‘Terms and Conditions’ and click on ‘Apply Now’
- Once your application form is submitted, a representative from the company will get in touch with you.
You can apply for a two-wheeler loan by visiting the nearest Hero MotoCorp dealership. Make sure you carry all the relevant documents along with you. A representative will get in touch with you and will take you through the process of applying for a two-wheeler loan. Fill the application form and submit it along with the documents. 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.1 lakh||48 months||10%||Rs.2,536||Rs.1,21,740|
You can also avail 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:
- 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.
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.
Hero FinCorp. Bike Finance Features
Hero FinCorp. two-wheeler loans are available for borrowers with the following features:
- Loan Amount: The Company covers 95% 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 4 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.
- Flexible Loan Amount: You can avail loan amount ranging between Rs.10,000 and Rs.1 lakh for all Hero MotoCorp two-wheelers
- 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.
Features of availing Hero FinCorp two-wheeler loan
Some of the features of availing a Hero FinCorp two-wheeler loan are:
- You can avail a loan amount ranging between Rs.10,000 and Rs.1 lakh
- You can avail up to 95% of the cost of the two-wheeler vehicle
- Interest rate offered is low and affordable
- Tenure of up to 4 years for the payment of your EMIs
- Salaried, self-employed, and others can apply for a two-wheeler loan from Hero FinCorp
Advantage of availing a two-wheeler loan from Hero FinCorp
Some of the advantages of availing a two-wheeler loan from Hero FinCorp are:
- Loan amount of up to Rs.1 lakh can be availed
- Competitive rates of interest
- Multiple tenure options available
- Minimum documentation required
- Several repayment modes available
- Quick and hassle-free processing of your application form and documents
- 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 95% 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 four 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.
- 6. 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.