Hero Lectro bikes Finance
Are you interested in buying a new Hero Lectro bikes and not able to find right deal? Not sure if you are being charged the right interest rate for your Hero Lectro two wheeler loan? Check out the BikeDekho EMI calculator to find the best Hero Lectro finance scheme by choosing the model that you wish to buy or calculate loan interest rate and equated monthly instalments (EMI) by entering the amount of bike loan that you wish to take.
Hero Lectro Two Wheeler Loan EMI
MODEL | EMI (36 MONTHS) |
---|---|
Hero Lectro Muv-E | Rs. 1,878 |
Hero Lectro H5 | Rs. 930 |
Hero Lectro C8i | Rs. 1,257 |
Hero Lectro C6 | Rs. 1,093 |
Hero Lectro WINN-X | Rs. 1,551 |
Hero Lectro bikes Finance Schemes
FAQs for Hero Lectro Finance
How is Hero Lectro bike loan EMI calculated monthly?
Hero Lectro bike loan EMIs include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI can be calculated using the following formula: {P x R x (1+R)^N / [(1+R)^N-1]} where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
Which documents I need to have to apply for a Hero Lectro two wheeler loan?
To get your Hero Lectro bike loan application with the selected lender, you would be required to submit your KYC documents, which include your identity proof and current address proof, a copy of your PAN Card, your bank statement and your income proofs (Form 16/Salary Slips/ITR). You can get the exact requirement from your loan consultant after applying with us.
What will be the minimum down payment for a Hero Lectro Bike/Scooter loan?
The lenders generally finance 90% of the ex-showroom price of the Hero Lectro two wheeler. Some customers might be eligible for 100% funding too. This means the minimum possible down payment that you have to pay includes the RTO and insurance charges for the Hero Lectro bike. Down payment is the difference between the on-road price of the Hero Lectro bike and the amount funded by the lender.
What will be the rate of interest on a Hero Lectro bike finance?
The interest rate primarily depends on the principal amount and tenure of the loan amount of the Hero Lectro two wheeler. Interest rate of lenders generally varies from 9.7% per annum to 15% per annum.
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