Two Wheeler Loan for Hero HF Deluxe
The hero is the world’s largest two-wheeler manufacturer company. This is an Indian origin company. The company was founded 34 years ago in 1984. Dr. Brijmohan Lall Munjal is the founder of the company. Headquarter of the company is in Gurgaon India. The company is favorite of the customer due to its brilliant products in a two-wheeler.
Hero HF Deluxe
- This is the best selling bike of the Hero. It has so many features in addition to other bikes.
- The ex-showroom price for the model is Rs. 37700 to Rs. 47900.
- Engine type is air cooled, 4 strokes single cylinder.
- Start – self-start, kick start.
Like other loans, two-wheeler loan also gives us a financial aid but this time this aid is only to buy a two-wheeler. The loan comes under the secured loans. The loan has very low and reasonable rates of interest.
Age is the major factor that banks check while providing you a two-wheeler loan. Bank or any other lender checks that whether the age of the applicant is more than21 years or not. If it is not so you won’t get a two-wheeler loan.
It is obvious that if someone is lending you the money then he/she will put some checks on your income as well, to check whether you are eligible to repay the loan amount or not. If you don’t have any source of income then you are not eligible to get a two-wheeler loan.
One more important thing is that the applicant should be a citizen of India. He/she should be residing in India as well. If it is not so then he/she isn’t eligible to get a two-wheeler loan.
Rates of Interest
Basically, the interest rates are 11.50% and onwards, but the rates can vary from time to time.
- First of all 2 colored d photographs. (without glasses)
- Identity Proof
One identity proof is necessary. This identity proof can be an Aadhaar card /PAN card/voter ID card/Ration Card / Driving Licence/ Passport)
- Resident Proof
The bank will ask for a proof of residence, it is mandatory. It can be an Aadhaar card /PAN card/voter ID card/Ration Card / Driving Licence/ Passport/electricity bills of last three months on the name of the applicant with the rental agreement)
- Income Proof
One income proof is also needed if you want to apply for a two wheeler loan. (salary slips of last three months / ITR of last three years for self-employed).
Major Banks Providing Two-wheeler Loans
- HDFC Bank
- ICICI Bank
- YES Bank
- PNB Bank
Among all the above the HDFC Bank is best for providing two-wheeler loan. The rates of interest are very low in HDFC Bank as compare to other banks.