Q1. What is an EMI?
An EMI stands for equated monthly installments. The installment comprises of two components principal and
interest. EMI’s provide you with ease and benefit of paying back your loan amount over a long period of time
via fixed monthly payments.
Q2. What documents are required to change my communication/ mailing address?
You have to mail a self-attested copy of any KYC document as mentioned earlier in the Eligibility &
Documentation section to our customer care e-mail ID – Customer.Care@HeroFinCorp.com or walk in to any of our
branches along with your KYC documents.
Q3. How do I change my contact details/ phone number?
New phone number details can be changed by calling our call center helpline. This could be done as soon as
your contact details changes in order for us to service you better.
Q4. Does Hero FinCorp offer any special schemes?
Special schemes are available from time to time. Get in touch with a Hero FinCorp representative at any
Hero MotoCorp dealership to get information on the latest schemes and offers.
Q5. I am an existing customer, can I apply for another loan?
Yes. However, any loan approval will be based on your credit score and eligibility for the given product.
Q6. Once I repay my loan, will I be eligible for a special scheme?
Yes. Once you clear your loan without any defaults, you may be eligible for a special scheme.
Q7. Do I have the option of prepaying my loan?
Yes, this can be done as per the foreclosure terms mentioned in your loan agreement.
Q8. How long will it take to get a loan?
Your loan will be processed within 24 to 48 hours depending upon the documents and verification
Q9. Can the tenure and loan amount be changed after the loan amount has been disbursed?
No, neither can be changed.
Q10. Can I pay my Installment and other dues online? If Yes then how?
Yes! You can pay your installment and other dues online through our Online EMI payment option, located on
the header of our website.
Q11. To avail a two-wheeler loan do I have to visit Hero FinCorp?
You need to visit a Hero MotoCorp Two-Wheeler Dealership and ask for a Hero FinCorp representative, we will be happy to assist you with your loan requirement. You may also visit our website or Social Media Pages and provide your contact details, post which our representative will get in touch with you shortly.
Q12. Is there any security/collateral which need to be offered for this loan?
No. You only have to submit your KYC documents along with bank details for loan approval. Until the loan is repaid, the vehicle will be hypothecated to Hero FinCorp.
Q13. How much finance can I avail of?
You can borrow up to 95% of On-Road Price of the vehicle (subject to applicable terms & conditions). Exact percentage would depend upon your credit score and eligibility.
Q14. What are the tenure options?
We offer multiple tenure options ranging from 12 months to 48 months (subject to conditions).
Q15. What will be the down payment/Margin Money?
Down payment is a small initial amount that you will need to pay at vehicle dealership. It’s the difference between On-Road Price and loan amount sanctioned to you.
Q16. What all are the charges are applicable on Two-wheeler loan?
To ensure a smooth experience, we charge a nominal processing/ document fee and applicable stamp duty. You can get detailed information from our representatives at a Hero MotoCorp Two Wheeler Dealership.
Q17. What is the procedure to get NOC?
Once you have completed your loan repayment, we will process and close your loan, post which a physical copy of the NOC will be sent to your registered address. You may also contact our customer care number at 1800-102-4145 or write to us at Customer.Care@HeroFinCorp.com.
Q18. When do I become eligible to get an NOC? How can I receive it?
You can get your NOC once you’ve paid your entire loan amount and any corresponding dues applicable.
Q19. Being an existing customer, can I apply for another loan?
Yes, you can apply for another loan.
Q20. Do I need a guarantor?
No, a guarantor is not required.
Q21. Who can be a co-applicant for the loan?
Your spouse or any blood relative staying at the same residence as yours can be a co-applicant.
Q22. What will be done with the post-dated cheques if I request to change the mode of repayment/ account for my loan?
The cheques submitted, will be defaced and retained. And in case you wish to get back your cheques, kindly lodge a request with our customer care or write us an email at Customer.Care@HeroFinCorp.com.