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The Basics of Bike Finance

The Basics of Bike Finance. India's working class expends a significant part of their income and time for travelling to and fro from work. As per a recent research report, on average, an individual would spend around 6% of his/her income on daily work related travel. In 2008, the average time spent by people travelling to or returning from work was over 45 minutes. This number has only increased since then. That's where a two-wheeler can be a godsend.

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The Basics of Bike Finance

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  1. Fundamentals of Bike Finance

  2. Easy repayment due to a smaller loan amount. • It enhances credit history. • Available for numerous bike models.

  3. Features of Bike Loan • Available to salaried and self-employed both. • You only need to submit basic documents such as your KYC, income proof, etc. • It has a flexible repayment tenure.

  4. Things to know before applying for a two-wheeler loan

  5. Hypothecation • Your bike is hypothecated with the lender. • In the event of default, the lender can auction the bike to recover its dues.

  6. Loan Duration • The repayment tenure can be as short as six months.

  7. Beware of the Offers • Don't get caught up in the trap of appealing bike loan offers.

  8. When applying for a Two-wheeler Loan, explore the offers available with different lenders. Select a lender with a good reputation and a simple application process.

  9. Thank You !Would Love to Hear From You Hero FinCorp Limited 09, BasantLok, Vasant Vihar, New Delhi - 110057 Tel. 18001024145 Email Id: Corporate.Care@HeroFinCorp.com Website: https://www.herofincorp.com/ Know more: The Basics of Bike Finance

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