What is the interest rate for Hero Passion Pro 110 Bike?

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Q : What is the interest rate for Hero Passion Pro 110 Bike?

Hero Passion Pro 110 EMI

Ex-showroom Price of Hero Passion Pro 110 Self Drum Alloy : ₹ 74,420
Loan Amount : ₹ 63,257
Down Payment : ₹ 11,163

Document Charges :
Processing Fee : ₹ 791
MonthsEMIChart
12₹ 5,711View Chart
24₹ 3,109View Chart
36₹ 2,250View Chart
48₹ 1,828View Chart
60₹ 1,579View Chart
72₹ 1,418View Chart
84₹ 1,306View Chart
A : The interest rate for Hero Passion Pro 110 is Hero Passion Pro 110 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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