Know the fundamentals of a two-wheeler loan

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Know the fundamentals of a two-wheeler loan
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Advantages of bike financing

• You can buy your dream bike by making small
  monthly payments.
• Even on a limited budget, there are numerous
  options available to you.

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Features of bike loan

• It can be applied by salaried and business
  owners.
• You only need KYC and income proof to get quick
  approval.
• You have the option to choose a minimum repayment
  term of six months.

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Important information about a bike loan

• Your bike is hypothecated with a lender until the
  loan is fully repaid.
• The minimum and maximum loan terms are 6 and 48
  months, respectively.
• Never fall for enticing interest rates. It could
  be a scam.

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• Factors influencing bike finance rate

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Loan amount

• A larger loan amount can sometimes result in a
  higher interest rate.

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Creditworthiness

• A bad credit score will qualify you for an
  expensive bike loan.

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Income

• A high salary or business income makes you
  eligible for low-interest bike loans.

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Debt coverage ratio

• A debt-to-income ratio of less than 40 qualifies
  you for an affordable loan.

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How to get a bike loan?

• You can apply in person at a lender's branch or a
  bike dealership.
• For an online application, visit the lender's
  website and follow the instructions.

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You must know about the bike loan features,
benefits, eligibility, and factors determining
its interest rate to streamline your loan
application process.
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Thanks!
Would Love to hear from you.
Hero Fincorp Limited
09, Basant Lok, Vasant Vihar, New Delhi - 110057
Tel [phone]
Email customer.care_at_herofincorp.com
Website https//www.herofincorp.com/
Know More The Basics of Bike Finance