Which Is Best For Bike Loan Hero Fincorp Or Bajaj Finserv

Best Bike Loan Company, Comparison, Hero Fincorp vs Bajaj Finserv

Two-wheelers, especially bikes, have become necessary for most Indian households in today's time and age. There are plenty of options available out there in the market, and a motorcycle is one of the top commute choices for people today.

While investing in a bike, there are many important factors for consideration. One such decision is regarding applying for a bike loan. Several banks and finance companies provide aid in the form of bike loans for customers. Bike loans are an affordable and secure method for those looking to invest in a new bike.

Out of several banks and institutions providing bike loans, the top two preferred choices among the masses are Hero Fincorp and Bajaj Finserv. If you are looking for a loan provider for your bike, here is a detailed comparison between the two to help you make the right choice.

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Hero Fincorp is an Indian non-banking financial company and an associate company of Hero MotoCorp. The company currently functions for commercial lending and consumer finance businesses. Hero Fincorp provides affordable two-wheeler loans to help customers fulfill their dream of buying a bike. Applicants can avail of a minimum loan amount of Rs. 10,000 and go up to Rs. 1 lakh. The interest rates for the same start at 10.65% p.a.

Hero Fincorp also provides a hassle-free application process. One can avail of a Hero Fincorp bike loan by visiting the official website and filling out the application form. Once all the details are added, an applicant must choose the Hero Motocorp dealership from where they wish to buy the bike. After applying, a company representative gets in contact with the applicant. All Indian nationals who are above the age of 18 and have the necessary documents are eligible for applying for a Hero Fincorp bike loan.

Hero Fincorp Two-Wheeler Loan Benefits

Speaking of the features, the Hero Fincorp bike loan offers the following advantages:

It covers 95% of the vehicle’s price under the two-wheeler loan plan.
Hero Fincorp allows a repayment tenure of 4 years for the borrower to make the repayment of the loan.
The approval process is also speedy as Hero Fincorp facilitates the same 24 to 48 hours.
After submitting the loan application, Hero Fincorp takes only 15 minutes to review it and grant a decision regarding the eligibility.

Overall, the Hero Fincorp bike loan is a great financing option for those looking to opt for a two-wheeler loan. The company provides an affordable, hassle-free, and super-quick process to help loan applicants meet their dream bikes.

Find Hero Fincorp Branches in India: Hero FinCorp Office Near Me

Now coming to Bajaj Finserv, let us start with the company background. It is an Indian non-banking financial services company catering to asset management, wealth management, lending, and insurance. Bajaj Finserv has served more than 1.7 million customers across India. The company provides a hassle-free loan lending process across Bajaj showrooms and other authorized service stations across India.

The applicants need to be in the age range of 21-65 years to be eligible for a Bajaj Finserv bike loan. They must also be employed for a minimum tenure of 1 year and must have a residence or office landline number. Additionally, Bajaj Finserv requires primary documents from the applicants such as Identity proof, Address proof, and Income proof.

The application process for Bajaj Finserv bike loans is rapid and easy. Applicants can start by visiting the Bajaj Finserv official website, filling in the required details, sharing their basic personal and financial information, and submitting the form for review. Post that, a Bajaj Finserv representative gets in touch with the applicant.

Bajaj Finserv Two-Wheeler Loan Benefits

Coming to the advantages, the features of Bajaj Finserv bike loans are as follows:

Applicants can enjoy nominal foreclosure charges before the 12th EMI with a minimal fee of 3%.
The transparent process provides loan details to applicants within ten days of availing of the credit facility.
Applicants can repay with an easy pay-in-cash option.
A partial foreclosure facility allows past-prepay of loans to reduce the tenure of the outstanding amount.
Call center assistance provides friendly interaction and support.

Find Bajaj Finserv Branches in India: Bajaj Finserv Office Near Me

Applicants can avail of a Bajaj Finserv bike loan at a nominal interest rate that depends on parameters such as the borrower’s profile, loan amount, location, and product for which the loan is required. Bajaj Finserv is a great financing option for a bike but does not provide the interest rates straight away. The application and approval process is also comparatively lengthier than Hero Fincorp.