Citizenship & Age
You should be a citizen of India and must be over 18 years of age.
Two Wheeler Loan Eligibility
Have you waited too long to buy your dream bike? Wait no more. With Hero FinCorp’s bare minimum eligibility requirements, get your two-wheeler financed without any hassle.
Hero FinCorp Two-wheeler Loan Eligibility Criteria
Ready to buy your dream bike? Hero FinCorp offers instant Two-Wheeler Loans at competitive rates with minimal eligibility requirements. Get quick approval, competitive interest rates, and flexible repayment tenures. So, no more waiting—finance your ride hassle-free with Hero FinCorp and hit the road with confidence today!
Why compromise on what you want when you have access to funds at your fingertips? At Hero FinCorp, we don’t ask you to go through stringent qualifying conditions. To check your Two-Wheeler Loan eligibility, just go through the table below.
Factors that Affect Two-wheeler Loan Eligibility
Before applying for a bike loan, be aware of the factors that influence your two-wheeler loan eligibility.
How to Improve Your Eligibility for Two-wheeler Loan?
Do not be disheartened if you find that you are not eligible for a loan when you check bike loan eligibility online. Here are some tips to boost your two-wheeler loan eligibility.
Improve Credit History
Clear past debts to get better loan rates and quick approval.
Long Repayment Tenure
A longer time to pay reduces EMIs and improves loan chances.
Add Co-applicant
Adding a co-applicant with a good income helps get a loan.
Additional Income
Show extra income to improve loan approval chances.
Frequently Asked Questions (FAQs)
Irrespective of being a salaried or self-employed individual, you must meet the following two-wheeler loan eligibility requirements:
- You must be over the age of 18 years
- You must have a steady flow of income
- You should have been employed for at least a year
To check bike loan eligibility, go to Hero FinCorp's website and read
our eligibility section. You may also use a two-wheeler loan
eligibility calculator.
Both salaried and self-employed individuals are eligible to apply for
a two-wheeler loan.
Since you will be paying off your two-wheeler loan in monthly
instalments (EMI), you must have enough earnings to fulfil your
monthly expenses as well as your EMI commitments. Thus, having a
higher income boosts your eligibility for a two-wheeler loan. In
addition, if your monthly income is high, you will be able to obtain a
higher two-wheeler loan amount and vice versa.
Your credit history is a record of your previous borrowings and
repayment patterns. It helps the lender in determining the soundness
of your profile. If you have defaulted on any of your previous loans
or skipped EMIs on a previous or existing loan, your lender will learn
about it through your credit report. If you are looking to apply for a
two-wheeler loan, make sure your credit report is in good shape.
Depending upon the documents and the time taken to verify the same,
your two-wheeler loan will be processed within 48 hours.
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