New Delhi: Hero bikes have always commanded a unique status on Indian roads, and there is always great enthusiasm among people to purchase them. If you are planning to buy the Hero Splendour Plus, we have an excellent option to share with you. You can bring home the Hero Splendour Plus through an EMI plan, which presents a fantastic opportunity. You can easily avail of the EMI scheme offered for the Splendour Plus.
By making a down payment of ₹10,000 at the showroom, you can become the owner of the bike, with the remaining balance paid via monthly EMIs. If you are planning to purchase this bike, it is helpful to first understand its price and other details to clear up any confusion.
Know the On-Road Price of the Bike
If you intend to buy the Hero Splendour via a down payment, you should first check the showroom price. The starting price of the Splendour Plus is around ₹78,000 (varying by state). After adding RTO registration, insurance, and other taxes, the on-road price reaches approximately ₹90,000 to ₹92,000.
If you make a down payment of ₹10,000 against this on-road price, the remaining balance—roughly ₹80,000 to ₹82,000 can be covered by a two-wheeler loan from a bank.
Additionally, finance companies readily approve loans covering 85% to 90% of the on-road price, depending on the customer’s CIBIL score and eligibility. This makes it easy for you to finance your bike.
Know What the EMI Will Be
The EMI amount for the remaining loan balance depends entirely on the loan tenure (repayment period) and the interest rate you choose. On the other hand, if you take a loan from a bank for three years at an average annual interest rate of 9.5% to 10%, you would need to pay a manageable monthly EMI of approximately ₹2,600 to ₹2,750.
In terms of daily expenses, saving just ₹85 to ₹90 a day would allow you to easily cover the bike instalments. However, if you reduce the loan tenure to two years (24 months), your monthly instalment would rise to ₹3,600, though you would end up paying less in total interest.
Hero Splendour Plus Features
Regarding the engine, the bike is equipped with a 97.2 cc unit. It weighs 112 kg and delivers a power output of 8.02 PS. It offers a mileage of up to 70 kmpl on petrol. Customers can fulfil their dream of owning this bike with these features, ensuring a hassle-free experience.
