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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.
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.
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.
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
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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.
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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.
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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.
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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.
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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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