Bike loans have become one of the common funding options that people choose when planning to finance their two-wheeler purchases through loans and advances. Keeping up to the market demand, several financial institutions also provide bike loans with customised features and facilities that make these advances a favourable funding option for many. Thanks to their simplified application process, instant approval, and fast disbursal, accessing a two-wheeler loan is not a challenge today. All you need to do is meet the lender’s eligibility requirements.
Even though availing a bike loan is simpler than ever, borrowers may face challenges when it comes to other related facilities. So, if you have purchased a Hero bike, completing your Hero finance EMI payment may be a trouble if no suitable payment option is at disposal.
Lenders attempt to simplify the entire process of EMI payments by introducing a range of options for borrowers to choose from as and when they need to make instalment payments. Given that EMI payment is a recurring liability until full repayment of the loan, it is best that you find your suitable Hero finance EMI payment option to go forward with.
Hero Finance EMI Payment Options:
Today, one can choose to pay his/her bike loan EMIs either online or offline depending on suitability. Online payment options surely simplify the entire repayment process, allowing one to set reminders on the due dates every month and reducing the chances of missed or delayed payment. However, many borrowers still choose to go for conventional EMI payment options. Below listed are both online and offline methods that you can choose from to make your bike loan EMI payment conveniently.
Payment through lender branch
One of the conventional and most popular methods of EMI payment previously, branch payment is still an option many choose to go forward with their loan repayment schedules for the comfort of in-person transactions. To undertake this option, you simply need to locate the nearest branch of your lender and approach it to make payment through cheque or card. Once the payment is made, obtain each payment receipt as a documented proof which should serve well in case of disputes, if any.
EMIs payment through cash cards
Another common option you may choose to make EMI payments is through cash cards. Any retail loan, such as bike loans, can be repaid through these electronic cards that come pre-loaded with a cash reserve. These cards can be used when making online payment of retail loans only.
Net banking payments
Under the net banking facility for EMI payment, one needs to make electronic transactions from his/her bank account for such payment through a simple user login at the financial institution’s website. These are easy online transactions that provide utmost safety of payment through multi-stage verifications and authorisations. One of the top benefits of paying bike loan EMIs through the net banking facility is that it allows you to make payments from the comfort of your home.
UPI payments are surfacing as one of the most popular forms of payments of almost all types, including EMI payments for retail advances like bike loan without down payment. It has gained such popularity due to the increasing ease of inter-banking transactions that it facilitates through a simple PIN verification and authorisation. Along with improved security, it is also easily accessible through smartphones and can be used for EMI payment readily in a few seconds only.
Retail Customer Service App
Some lending institutions also provide dedicated customer service app which can be used to make EMI payments. These apps also allow borrowers to access other loan-related details such as due date of payment, outstanding repayment liability, loan applications, documents update, and many more.
Payment through e-Wallets
Several reputed lending institutions also accept Hero finance EMI payment through popular e-Wallets like Paytm, Airtel Payments Bank, PhonePe, etc. that are linked to the borrowers’ bank accounts. They spare one the need for entering their bank account and card details online, thus improving security of use.
Debit/credit card payments
Alternatively, one can simply make EMI payment of his/her bike loan through a debit card or credit car transaction by entering the car details on the payment page of the lender.
Choose your suitable repayment option from above-mentioned ones listed here for a timely and successful Hero finance EMI payment. It is best to set a monthly alert for due date reminder so that you do not miss or delay any of your scheduled repayments to make the most of these loans.