Freedom Begins on Two Wheels.
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Why Choose Hero FinCorp for Your Two Wheeler Loan?
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If You Are Eligible.
Getting a two-wheeler loan from Hero FinCorp is easy. To be eligible, you must meet a few basic requirements.
The eligibility criteria for a two-wheeler loan at Hero FinCorp are as follows:
| Criteria | Requirement |
|---|---|
| Age | At least 18 years |
| Citizenship | Indian citizen residing in India |
| Applicant Type | Salaried or self-employed individuals, including first-time buyers, students, and low-income earners |
| Work Experience | Minimum one year |
| Minimum Monthly Income | ₹10,000 per month |
| Loan Amount | Up to ₹3,50,000 or 95% of the bike's market value, subject to lender policy |
Interest Rates and Charges for Two Wheeler Loans.
Hero FinCorp offers competitive interest rates for two-wheeler loans, starting at 14% p.a. The rate offered to you depends on your CIBIL, monthly income, vehicle category, loan tenure, city tier, and lender-borrower relationship. Knowing about the interest rate and other applicable charges enables you to calculate the total cost of your loan.
Here is an overview of the rates and charges applicable to a two-wheeler loan:
| Fee / Charge | Details |
|---|---|
| Interest Rate | Starting from 14% per annum (up to 36% p.a.) |
| Loan Amount | ₹10,000 to ₹3,50,000 |
| Loan-to-Value (LTV) | Up to 95% of the bike's cost (100% on-road financing may be available) |
| Repayment Tenure | 6 to 60 months |
| Processing Fee | One-time charge based on the approved loan amount |
| Foreclosure / Prepayment | Applicable as per the terms and conditions of the loan agreement |
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Frequently Asked Questions.
The two-wheeler loan tenure depends on the lender. Hero FinCorp offers a flexible repayment period of 6 to 60 months for two-wheeler loans, enabling you to plan your repayment.
Hero FinCorp provides instant online approval of two-wheeler loans through its website and mobile app. The processing speed depends on verification requirements and the documents submitted.
Yes. Hero FinCorp offers the option of two wheeler loan prepayment. You can prepay the loan in keeping with the foreclosure terms in your agreement.
Yes. Lenders consider your CIBIL score or credit score to determine your creditworthiness. A good credit score can help you get a two-wheeler loan approval quickly. It also improves your chances of getting a lower interest rate.
A zero-down-payment bike loan is a financing option that enables you to purchase a two-wheeler without making any upfront payment. Hero FinCorp offers this loan. However, the loan amount may be lower, or the interest higher. Review the terms and conditions before applying.
The processing time for a two-wheeler loan can take anywhere from a few hours to a few days. It varies based on the documentation submitted and the eligibility criteria met.
No. Lenders require proof of income to determine your repayment capacity. Whether you are salaried or self-employed, you must submit proof of income to get a loan for a 2-wheeler.
The two-wheeler loan eligibility criteria vary across lenders. At Hero FinCorp, you must be at least 18 years old and have a regular source of income to be eligible for the loan.