Are you planning to apply for a bike loan for purchasing your favourite bike model? It is a good decision as you would be able to avoid the extra financial burden of making the entire down payment in one go. Get a two-wheeler loan from Hero Fincorp as you can opt for an amount of Rs 10,000 to Rs 1,00,000. Before applying for the loan, know the amount of EMI (equated monthly instalment) that you have to pay with the help of the Hero Fincorp bike EMI calculator. Read on to know about it in detail.
Using the calculator is simple. Click on the Products link on the home page and select the two-wheeler loan option. The calculator has sliders for the loan amount, interest rate, and loan repayment period. You just have to adjust the sliders to increase or decrease the EMI amount. Fix the variables at specific levels to get an EMI that would be affordable for you. For example, if you choose a longer repayment period, then the loan amount + interest rate would be spread over a longer duration and it would bring down the EMI amount.
A bike EMI calculator is a useful tool due to the following reasons:
Â·Â Â Â Â Â Â Â Â Loan eligibility
You can check the amount of loan that you are eligible for. Since the EMI amount is exactly the same that you have to pay, you can change the amount of the loan to different levels.
Â·Â Â Â Â Â Â Â Â Budget planning
Knowing the EMI in advance would help you to plan your monthly budget. There may be certain fixed costs that you have to undertake every month and paying the loan EMI would be an additional expense. Proper planning would make it easy for you during the loan repayment period.Â
Â·Â Â Â Â Â Â Â Â Avoid calculating manually
The Hero Fincorp bike EMI calculator would help you to avoid lengthy and difficult manual calculations related to the bike loan, EMIs, repayment tenure, interest rates, etc. There are also chances that you may make errors while calculating. With the online calculator, you can avoid these problems. Also, you would get instantaneous results. This would save the time that you can use for other purposes.
Â·Â Â Â Â Â Â Â Â Easy to access
The calculator is free and you can access it without creating an account or logging in. It is easy to use as you do not even have to put in the numerical values of the principal, interest rate, or duration of the loan to get the EMI. The method is simple.
Â·Â Â Â Â Â Â Â Â No breach of security
Since you do not have to put in any personal detail and there is no provision for data storage, there is no risk of your data getting stolen or hacked. You can safely use the tool without worrying about any breach of security.
The Hero Fincorp bike EMI calculator is a convenient way to know about your loan EMIs even before you apply for the loan amount. Going through the different components used in the calculation would help you to plan your finances accordingly.
Contact Us & Send Query-
Hero FinCorp Limited
09, Basant Lok, Vasant Vihar, New Delhi – 110057
Email Id: Corporate.Care@HeroFinCorp.com
Website – https://www.herofincorp.com/