What is the interest rate for Hero Duet Bike?

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Q : What is the interest rate for Hero Duet Bike?

Hero Duet EMI

Ex-showroom Price of Hero Duet LX : ₹ 48,280
Loan Amount : ₹ 41,038
Down Payment : ₹ 7,242

Document Charges :
Processing Fee : ₹ 513
MonthsEMIChart
12₹ 3,705View Chart
24₹ 2,017View Chart
36₹ 1,460View Chart
48₹ 1,186View Chart
60₹ 1,025View Chart
72₹ 920View Chart
84₹ 847View Chart
A : The interest rate for Hero Duet is Hero Duet Interest Rate

The term Interest Rate means the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR). The assets borrowed could include cash, consumer goods, large assets, such as a vehicle or building. Interest is essentially a rental, or leasing charge to the borrower, for the asset's use. In the case of a large asset, like a vehicle or building, the interest rate is sometimes known as the "lease rate". When the borrower is a low-risk party, they will usually be charged a low interest rate; if the borrower is considered high risk, the interest rate that they are charged will be higher. Interest is charged by lenders as compensation for the loss of the asset's use. In the case of lending money, the lender could have invested the funds instead of lending them out. With lending a large asset, the lender may have been able to generate income from the asset should they have decided to use it themselves.

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