Hero Glamour X on EMI: Let’s be honest, the dream of owning a reliable, feature-packed motorcycle is a common one. But the thought of a hefty one-time payment can often put that dream on hold. What if we told you that you could ride home the stylish and efficient Hero Glamour X by paying an amount as low as Rs. 20,000? about us
Yes, you read that right. With attractive bike loan EMI plans available across India, bringing home this powerful commuter bike is more accessible than ever. This article is your one-stop guide to understanding everything you need to know – from the brilliant features of the Hero Glamour X to calculating your perfect EMI plan, the application process, and the required documents.
Hero Glamour X: A Quick Overview
Before we dive into the financial details, let’s understand why the Glamour X is such a popular choice. It’s not just a bike; it’s a statement of style, power, and fuel efficiency. Positioned as a premium commuter bike, it successfully blends a sporty design with everyday practicality.
Key Features of the Hero Glamour X
Here’s a look at what makes the Hero Glamour X stand out from the crowd:
- Powerful i3S Engine: The bike is equipped with a 124.7cc air-cooled engine featuring Hero’s patented i3S (Idle Start-Stop System). This technology automatically switches off the engine when idle at a traffic signal, saving fuel, and restarts instantly with a simple press of the clutch.
- Sporty and Aggressive Styling: The Glamour X boasts a muscular fuel tank, sharp graphics, and a sleek tail section that gives it a distinct, road-presence.
- Advanced Instrument Cluster: It comes with a semi-digital console that provides all essential information at a glance, including a side-stand indicator and real-time mileage indicator.
- Best-in-Class Mileage: One of its biggest USPs is its exceptional fuel efficiency. It consistently delivers mileage in the range of 60-65 kmpl, making it incredibly light on your pocket for daily commutes.
- Enhanced Safety: Features like a larger 240mm disc brake in the front provide confident braking and ensure a safe ride.
- Comfortable Riding Ergonomics: Designed for Indian road conditions, it offers a comfortable seating posture for both the rider and the pillion, reducing fatigue on long rides.
The EMI Plan: How to Get the Glamour X for Rs. 20,000 Down Payment
The concept is simple. Instead of paying the full ex-showroom price upfront, you opt for a two-wheeler loan from a bank or an NBFC (Non-Banking Financial Company). The down payment is the initial amount you pay from your pocket, and the remaining amount is financed by the lender, which you repay in monthly installments (EMIs).
Let’s break down the numbers. The ex-showroom price of the Hero Glamour X varies slightly depending on the city, but it is approximately Rs. 95,000.
- Approximate Ex-showroom Price: Rs. 95,000
- Initial Down Payment (approx. 10-20%): Rs. 20,000
- Loan Amount (Principal): Rs. 95,000 – Rs. 20,000 = Rs. 75,000
Now, your EMI will depend on the loan interest rate and the tenure (duration) you choose.
EMI Calculation for Hero Glamour X
Let’s calculate the EMI for a loan amount of Rs. 75,000 at an average interest rate of 10% per annum for different tenures.
| Loan Tenure | Approximate EMI | Total Interest Payable |
|---|---|---|
| 2 Years (24 months) | Rs. 3,460 | Rs. 8,040 |
| 3 Years (36 months) | Rs. 2,420 | Rs. 12,120 |
| 4 Years (48 months) | Rs. 1,900 | Rs. 16,200 |
| 5 Years (60 months) | Rs. 1,595 | Rs. 20,700 |
Disclaimer: The above EMI values are indicative and may vary based on the lender, your credit score, and ongoing offers. It’s always best to check with the bank directly or use an online EMI calculator for precise figures.
As you can see, by opting for a 5-year loan, your monthly EMI can be as low as Rs. 1,595, which is highly affordable for most salaried individuals.
Step-by-Step Process to Apply for a Bike Loan
Getting a bike loan is a straightforward process. Here’s how you can do it:
- Check Your Eligibility: Before applying, ensure you meet the basic eligibility criteria set by the lenders (detailed in the next section).
- Research Lenders: Compare interest rates and terms from different banks (like HDFC, ICICI, SBI) and NBFCs. Don’t forget to check if Hero FinCorp has any special offers running on Glamour models.
- Get Pre-Approved (Optional): Many banks offer a pre-approved loan facility if you have an existing account with them. This can speed up the process significantly.
- Visit the Dealer: Go to your nearest authorized Hero showroom. They have tie-ups with multiple financiers and can guide you through the best available option.
- Submit Application & Documents: Fill out the loan application form and submit the required documents (listed below) along with a passport-sized photograph.
- Verification: The bank will verify your documents and credit history. This is usually a quick process.
- Loan Sanction: Once approved, the bank will sanction the loan amount.
- Make Down Payment: Pay the initial down payment (Rs. 20,000 in this case) to the dealer.
- On-Road Formalities: The dealer will handle the insurance, registration, and other paperwork. The loan amount will be disbursed directly to the dealer by the bank.
- Take Delivery: Congratulations! You can now ride home your new Hero Glamour X. Your EMI will typically start after a month.
Important Documents Required for Bike Loan
Having your documents ready will make the process seamless. Generally, you will need:
For Identity and Address Proof:
- Aadhaar Card (Mandatory)
- PAN Card
- Voter ID Card
- Passport
- Driving License
For Income Proof (for Salaried Individuals):
- Salary Slips (last 3 months)
- Bank Statement (last 6 months)
- Form 16
For Income Proof (for Self-Employed Individuals):
- Bank Statement (last 6 months to 1 year)
- Income Tax Returns (ITR) of the last 2-3 years
- Business Proof (GST registration, Shop Act License, etc.)
Additional Documents:
- Passport-sized photographs
- A cheque for the initial down payment
Eligibility Criteria for a Two-Wheeler Loan
While criteria can vary, most lenders look for the following:
- Age: You must be at least 21 years old at the time of application and not more than 65 years old at the time of loan maturity.
- Income: Most banks require a minimum monthly income, typically ranging from Rs. 15,000 to Rs. 20,000. This ensures you have the capacity to repay the EMI.
- Employment Stability: Salaried individuals should have a job stability of at least 1-2 years. Self-employed individuals should have a stable business for a few years.
- Credit Score: A good credit score (usually above 750) significantly increases your chances of approval and can get you a lower interest rate. It reflects your creditworthiness.
Conclusion: Is it the Right Decision?
Owning the Hero Glamour X with a small down payment is an excellent way to manage your finances without compromising on your mobility needs. The bike itself is a fantastic package of style, performance, and unbeatable mileage. When you combine that with a well-planned EMI, it becomes a smart economic decision.
