The Hero Splendor Plus Flex Fuel was recently launched in India, and it is priced at Rs 82,810 (ex-showroom, Delhi). If you are planning to buy it on loan, here’s a systematic EMI breakdown for different loan tenures, with a downpayment of Rs 10,000 and an interest rate of 9.7%.
18 Month Loan
For an 18-month loan tenure, you need to pay an EMI amount of Rs 5,138. While the EMI is higher than other loan tenures, the interest is comparatively lower at Rs 6,743. The total repayment cost comes out to Rs 92,484.
24 Month Loan
The 24-month loan tenure balances EMI and interest amount. You have to pay an EMI of Rs 3,945, and the total repayment cost is Rs 94,680 with an interest of Rs 8,939.
36 Month Loan
If you want an even more affordable EMI, then the 36-month (3-year) scheme is for you. You will have to pay an EMI of Rs 2,755 , which is significantly lower than the 18-month and 24-month schemes. But while being easy on your pocket, this scheme has the highest interest at Rs 13,439, and your total repayment amount will be Rs 99,180.
BikeDekho Says
Getting the Hero Splendor Plus Flex Fuel on loan is a smart move to avoid paying the full price of the bike upfront, making the purchase easier. However, at the same time, it also increases the overall cost of the bike. Additionally, the EMI and the interest rates ultimately depend on your CIBIL score and loan eligibility, so make sure you review the terms and conditions with your bank before you sign for it.
