What is the interest rate for Hero HF Deluxe iSmart Bike?

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Q : What is the interest rate for Hero HF Deluxe iSmart Bike?

Hero HF Deluxe iSmart EMI

Ex-showroom Price of Hero HF Deluxe iSmart : ₹ 47,260
Loan Amount : ₹ 40,171
Down Payment : ₹ 7,089

Document Charges :
Processing Fee : ₹ 502
MonthsEMIChart
12₹ 3,627View Chart
24₹ 1,974View Chart
36₹ 1,429View Chart
48₹ 1,161View Chart
60₹ 1,003View Chart
72₹ 901View Chart
84₹ 830View Chart
A : The interest rate for Hero HF Deluxe iSmart is Hero HF Deluxe iSmart 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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